Australia's Syrah Resources jumps on $150 mln loan to develop Mozambique operations

Syrah Resources

30/10/2024 24:33

** Shares of Syrah Resources  SYR.AX  rise as much as 15.8%
to A$0.33, their highest levels since Oct 7
    ** The graphite seller says its unit got a $150 mln loan
from United States International Development Finance Corp
    ** Says loan will help develop its Balama Graphite
operations in Mozambique
    ** Says its Balama plant operations were paused through the
Sept qtr resulting in no natural graphite production
    ** About 9.6 mln shares change hands, compared with 30-day
average trading volume of 4.9 mln shares 
    ** Stock down about 55% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))