SYR (ASX) So a little bit of history

Originally posted by maplelegion ↑

Not stating that these are entirely accurate as to "actual "amounts raised ( there will be more due to retail subscriptions where available ) , but here's a rundown :
August 15 --$166 mill @$3.50
June 16 $194 mill @$6.05
Sept 17 $110 mill @$3.38
Sept 18 $94 mill @ $2.23
So most of this CR has gone to Institutions , raising $564 mill in total ….and we have a Syrah enterprise capitalization of approx. $423 MILL today , with +/- $60 mill US DOLLARS of cash after this current Quarters expected expenditure !!!!
I suspect a high percentage of the Institutional placements have been to the same "connections " during this 4 year period , and they are largely underwater by a fair margin …..so any wonder the shorting has continued , unabated , to drive the price down to its $1.20 value .
Gimme a break !!! Syrah has raised $564 mill , has an operational plant in Balama now producing at commercial capacity , has a Vidalia ( usa ) Spherical graphite coming on stream , is a Tier 1 long life asset ( with Vanadium lying idle ) in the only commercial natural graphite operational enterprise outside of Chinese producers now being phased out by environmental concerns ---in the biggest Industrial revolution changer ( EV Transport and power storage ) since the steam engine ...and just starting its growth!
Either the Institutional Investors ( and we retailers ) are mad , or the Board of Directors have played this so badly ( or both ) ...or the Shorters have just used the "slow take-up " of non Chinese produced graphite to crack an otherwise and previous Chinese dominated market , to perfection .!
Badly played by the Syrah Board --should have sort out an International Graphite user /producer early in the piece as a 15% + cornerstone investor , and stopped the Institutional shorting games that have killed the price over 4 years and counting . They have effectively handed their own heads to the same Institutions now controlling the price , on a plate !!
Bottom line ….where the price goes from here , anyones guess ..but $564 mill raised to have the biggest and only graphite "controller" outside of China ….and when 5 to 6 times more graphite in anodes is necessary that lithium in cathodes ...and the Market cap of Syrah at $423 mill ( including $60 mill+/- in cash ) ...just doesn't make sense !
Either the Institutional owners of the stock know something the public don't know ...or they have played the short/long game to average down to perfection ..and I suspect that this is the case .
Last Quarterly did not give any evidence of a rapid turnaround ...and hence the constant price downturn since 31st January ….but the Insto holders have well and truly averaged out now , and when this downturn bottoms out ….hopefully , it runs very hard the other way .!!!
If there is any other "side event" that is notable in this dismay 4 year period ...its that any other wannabe graphite producer outside of China that thinks it has a commercial hope in Haddies of getting funding to operational stage ...then the only way is to hand it over to China INC right now .
Trying to be objective here , and caste a ray of light and hope into the current status .More could be said about the Board an its direction , but that's another matter . Some o the figures provided above are at "first glance "....but enough to paint the picture !
Just a throw at the stumps ..but I think the long awaited turn around is close !
Cheers

Expand

Great Analysis @maplelegion

It is a head scratcher that’s for sure

There surely must be some questions being raised at the Board level of Australian Super from time to time given it has continued to increase its holding each year during the period you outline and the substantial decline in the share price / MC ? .... I have had a rough look through their substantial holding notices and back of the envelope calcs IMO see their average north of $3 ?

GLTAH

No.	Vol.	Price($)
4	40540	22.0¢

No.

Vol.

Price($)

40540

22.0¢

Price($)	Vol.	No.
22.5¢	132427	6

Price($)

Vol.

No.

22.5¢

132427

No.	Vol.	Price($)
8	116062	1.070
10	209299	1.065
8	106613	1.060
6	96647	1.055
10	132219	1.050

No.

Vol.

Price($)

116062

1.070

209299

1.065

106613

1.060

96647

1.055

132219

1.050

Price($)	Vol.	No.
1.075	58078	4
1.080	70753	4
1.085	72117	5
1.090	103210	6
1.095	57928	2

Price($)

Vol.

No.

1.075

58078

1.080

70753

1.085

72117

1.090

103210

1.095

57928

(20min delay)
Last 22.0¢		Change -0.010(4.35%)		Mkt cap ! $232.8M

Open	High	Low	Value	Volume
23.0¢	23.5¢	21.8¢	$592.6K	2.639M

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