Ann: Balama Update, page-58

@DoctorFouad has been a consistent downramper of SYR, much given to sweeping statements, with no supporting evidence, and, when challenged to supply any such evidence, simply responds with more of the same unsupported claims. Why? Perhaps it is not unrelated to the fact that he holds shares in a company with a very small graphite mine in Madagascar. I say "very small" because it is currently being expanded to a production rate of 6000 tonnes per year - about what Balama will be producing each week, by late next year.

But let's look at a few of @DoctorFouad's latest claims, and check them against reality.

He claims:

"multiple delays in attaining production targets"

Yes, production is later than initially scheduled. But the plant is about 50% larger than then envisaged, and the addition of attrition cells (after pilot plant testing) will improve product quality, at relatively little extra capital cost. A good management decision, I would have thought. And as recently as January 5 of this year, production guidance 0f 160K to 180K tonnes, for 2018, was confirmed as "remaining unchanged".

Then we have @doc torFouad claiming:

"running way beyond their targeted costs"

Evidence? You don't really expect any from @DoctorFouad, do you? And, of course, the announcement as recently as 13 November actually confirmed production costs of
As far as "not attaining cash flow positive status" is concerned, it's fairly obvious from the above numbers that Syrah will be cash flow positive this year, probably sometime in the third quarter.

If the recent market activity, with positive price movement on significant volume, is any indicator, then the confident forecast by @DoctorFouad of Syrah's "death" may be a long time coming.

Cheers