SYRAH RESOURCES LIMITED — Capital/Financing Update 2013

Dec 12, 2013

13 December 2013

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ASX Code SYR

Current Corporate Structure

Completion of $35 million Institutional Equity Placement

Syrah Resources Ltd (ASX: SYR) (“ Syrah ” or the “ Company ”) is pleased to announce that it has successfully completed an institutional equity placement (“ Placement ”) of approximately 13.7 million new fully paid ordinary shares to raise approximately $35 million of additional capital.

The funds raised from the Placement will be used for the following:

• Finalisation of the Balama Feasibility Study (expected in Q1 CY2014);

• Pre-ordering long lead time items for Balama;

• Early stage development work at Balama;

• Working capital requirements and corporate overheads; and

• Transaction costs associated with the Placement

Settlement of the Placement is scheduled to occur on 19 December 2013 and the new shares are expected to be allotted and commence trading on 20 December 2013. New shares issued under the Placement will rank equally with existing SYR fully paid ordinary shares.

	Ordinary Shares Issued Shares:	148,410,123
	Options
	Exercisable at $0.26: Exercisable at $2.21:	2,489,467 470,000
	Exercisable at $2.90:	250,000
	Exercisable at $3.87:	1,000,000
	Major Shareholders Directors	24.38%
	Citicorp Nom PL	11.24%
	Copper Strike Ltd Gasmere PL HSBC Custody Nom Aust	7.41% 4.42% Ltd 3.93%
	Board of Directors
	Mr Tom Eadie
	Non-Executive Chairman
	Mr Paul Kehoe Managing Director

Mr Tolga Kumova Executive Director

Credit Suisse (Australia) Limited and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers to the Placement.

Non-Executive Director

Company Secretary

Paul Kehoe Managing Director Syrah Resources Ltd Mobile contact - +61 3 414156288 Email – p.kehoe@syrahresources.com.au

Key Projects

Balama Graphite Project (Mozambique) and Nachingwea Graphite Project (Tanzania) Balama is the largest and one of the highest grade flake graphite and vanadium projects globally. Balama is mainly medium to coarse flake and Nachingwea is fine to coarse flake.

Tanzania Mineral Sands

A very prospective portfolio of mineral sands licence areas, some of which have drill results up to 28% heavy minerals.

Website

www.syrahresources.com.au

Syrah Resources Ltd (ABN 77 125 242 284). Level 9 - 356 Collins Street, Melbourne Victoria 3000 Australia Ph 03 96707264 Fax 03 96420698

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About Syrah Resources

Syrah Resources (ASX code: SYR) is an Australian resource company with a diversified exploration portfolio located in southeast Africa. The Company is rapidly progressing its core Balama Graphite and Vanadium Project in Mozambique to production. Balama is a 106 km[2 ] granted prospecting licence located within the Cabo Delgado province in the district of Namuno in northern Mozambique. The project is approximately 265 km by road west of the port town of Pemba. Pemba Port is a deep-water container port, and the third largest in Mozambique. The Balama Project site is accessible by a sealed, main road, running directly from the airport and Pemba Port. The main road is located 1 km from the airport.

Syrah’s exploration portfolio also includes a strategic mineral sands portfolio in Tanzania, comprising eight tenement areas, some with high grade heavy mineral intersections, and the Nachingwea graphite project in Tanzania.

Syrah Resources Ltd (ABN 77 125 242 284). Level 9 - 356 Collins Street, Melbourne Victoria 3000 Australia Ph 03 96707264 Fax 03 96420698

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