Charts, page-9

Now that SYR has declared commercial production I found it interesting to look back on capital raisings needed along the three and a half year journey from commencement of mine construction to present where we have a commissioned mine and BAM plant operational and coated spherical on the way with their proprietory technology (licenced for 20 years for use outside of China see ann 11/11/15).

SYR has reached a point of making profits with no debt on the balance sheet. It has been painful for shareholders who participated in the placements. (those that held)

As below SYR raised AUD$609m from four separate issues, with issues at $3.25 per share on 3/8/15, $6.05 per share on 20/6/16, $3.38 per share on 19/9/17 and the final one at $2.23 on 4/9/18
On each occasion when SYR raised $211m then $194m then $110m then $94m Investors obviously thought they were getting value! otherwise they would not have participated.

Today the SP is $1.99 and the market cap is only $684m it took capital raisings of $609m to get to this point. This low cap is ridiculous IMO 

After each raising as seen below, the shorters went to work and the robots pushed the SP lower and lower, the work was made easy for the shorters with construction and commissioning delays and impatient traders.

After each cap raising the sellers eventually got exhausted and the MACD crosssed upwards over the signal line and we had a bull run. We are at that point right now! The sellers are exhausted. 

This time the run could be very strong because there is no reason for a further cap raising with positive cash flow now reached. Exciting times for holders ahead IMO.

For once it will be an advantage having 17% of the issued capital shorted. These shares will have to be bought back on market and IMO it will get messy for shorters. All we need is a series of 3 or 4 months of good news. Management please do your work 

Imagine if management came out and said we will fully fund the V processing from internal cash flows. I seriously hope they set a timeline where this could happen. Please, Please, Please

DYOR