Syrah Resources (ASX: SYR) is preparing an announcement on the Balama East JORC Resource estimate at the Balama Graphite and Vanadium Project, with the company granted a trading halt this morning - with its shares placed in pre-open.
Located in Mozambique, Balama has the world's largest known graphite deposit with a global Inferred Resource of 564 million tonnes at 9.8% TGC and 0.21% V205 at a 5% TGC cut off.
The contained graphite of the Balama deposit is expected to exceed the rest of the world's reserves of graphite as recorded by the USGS (77 million tonnes as at 2012).
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 28th May 2013.
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