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Syrah Resources Ltd. (ASX:SYR) announced its quarterly results for the three months ended March 31 2014. Highlights included the production of Battery Grade Spherical graphite from fine grained flake graphite, the purchase of a pilot plant to optimize production of spherical graphite and the signing of a memorandum of understanding for an offtake agreement with Chalieco. Syrah has shifted from exploration to development of its Balama project, and today announced the signing of a second memorandum of understanding for an offtake agreement with Asmet (UK).
As quoted in the press release:
In March, Syrah announced the signing of a Memorandum of Understanding (MOU) with Chalieco for an Offtake Agreement. This MOU is for the purchase of 80,000 to 100,000 tonnes of graphite per annum and a quantity of vanadium (to be determined). Today, Syrah announced a further Memorandum of Understanding for offtake for 100,000-150,000 tonnes of graphite per annum with Asmet (UK) Limited for a price of approximately US$1,000 a tonne. Syrah expects that several other agreements for offtake will be announced over the coming months.
Click here to read the Syrah Resources Ltd. (ASX:SYR) press release
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