2020 Annual Report

Strong health and safety record with Total Recordable Injury Frequency Rate ("TRIFR") of 0.7 as at end of 2020 and focus on high internal standards of COVID-19 protocols and compliance with government directives

Progression of strategy to become the preeminent vertically integrated supplier of natural graphite Active Anode Material (“AAM”) to ex-Asia markets, with: 

  • Bankable Feasibility Study (“BFS”) confirming robust economics for largescale AAM production from Syrah’s facility in Vidalia, Louisiana, USA (“Vidalia”)
  • Active Anode Material (“AAM”) produced using Vidalia precursor
  • Ongoing qualification of Vidalia product with potential downstream customers
  • Integration with world’s largest natural graphite mine at Balama Graphite Operation (“Balama”)

Production at Balama Graphite Operation (“Balama”) suspended during 2020 due to impacts of COVID-19 (travel restrictions, lower demand). Positioned to preserve cash during 2020 while retaining operating and marketing capability to promptly restart production, as announced post year end

Balance sheet strengthened through 2020 and following year-end via institutional and retail equity capital raisings, and option to issue 2 Convertible Notes to raise total gross proceeds of up to A$130 million