Details such as costs were scant aside from a timeline of 2-3 months.
The operation was closed last March for COVID-19 and weak product demand reasons.
At full speed, Balama is a 2 million tonne per annum operation producing about 350,000tpa of graphite concentrate.
Syrah wants to become a vertically integrated company with an anode production plant at Vidalia in Louisiana in the frame.
Syrah had US$80-90 million cash last month, with an equity raising last month pricing new shares at A90c each.
Shares in Syrah were up 6% to $1.22, capitalising the company at $506 million.
The stock fell to less than 20c last March.