Syrah Completes retail entitlement offer to fund its Vidalia and Balama projects
- Syrah Resources (SYR) raises a total $250 million from its retail and insitutional entitlement offers for its Vidalia and Balama projects
- The retail component was completed on Monday and will see 38 million new shares issued at a price of $1.48 each
- At the Vidalia project, funds will be used for the costs of operations, expansion studies, product development, and the remaining capital costs for the Vidalia Initial Expansion
- The Balama project will utilise the money for tailings storage facility (TSF) expansion and sustaining capital costs, working capital, and general corporate purposes.
- Shares were trading 0.72 per cent higher today at $1.40 each
