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Syrah Resources Granted More Time To Update Scoping Study For Balama

Syrah Resources (ASX: SYR) is preparing an announcement to the market in relation to Scoping Study outcomes for the Balama Graphite and Vanadium Project, which is located in Mozambique.

The ASX has granted Syrah additional time to complete through a voluntary suspension, following on from the trading halt earlier in the week.

The voluntary suspension will be until the earlier of the release of the announcement, or prior to commencement of trading on Wednesday 12th June 2013.

Balama now hosts an Inferred Resource, which includes Balama West and Balama East, of 1.15 billion tonnes at 10.2% Total Graphitic Carbon (NYSEMKT:TGC) and 0.23% V2O5.

Syrah aims for Balama to be the lowest cost and largest producer of graphite in the world, which includes China, and to have a very high grade and quality product for the expanding graphite market.

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