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Syrah Resources granted ASX trading halt pending potential transaction

Syrah Resources (ASX: SYR) is preparing to release an announcement to the market on a potential transaction regarding exploration tenements, with the company granted a trading halt today.

While no further details of the potential transaction were released, Syrah is focused on building its graphite portfolio in Africa and adding assets that complement its Balama Project in northern Mozambique.

Syrah recently delivered to the market a set of high grade results from eight reconnaissance trenches at its Balama Project, which show an average grade of 14.5% total graphitic carbon, or 16.2% total carbon, across 328 samples.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Monday 7 May.

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