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Syrah Resources In Pre Open Ahead Of Capital Raising Announcement

Syrah Resources (ASX: SYR) has been granted a trading halt by the ASX pending the release of an announcement on a capital raising, with the company placed in pre-open.

While the company has not yet indicated where the money will be allocated, Syrah has been busy building its graphite portfolio in Africa and adding assets that complement its Balama Project in northern Mozambique.

The company recently expanded its footprint and potential graphite Resource base in the region with the acquisition of the Nachingwea Graphite Project in south Tanzania.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Wednesday 11 April.