Syrah raises $110M

GRAPHITE developer Syrah Resources has secured underwriting for a A$110 million capital raising to accelerate development of its Balama mine in Mozambique and a battery anode material facility in the USA.

Syrah raises $110M Syrah raises $110M Syrah raises $110M Syrah raises $110M Syrah raises $110M

The company said the equity raising was chosen because debt was an expensive, ill-fitting option.

The underwriters are Credit Suisse and UBS.

The raising is being done at a price of $3.