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Syrah Resources Ltd ASX:SYR

0 opened or increased0 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

30 Sep 2025 to today

Commentary 1 comments

DateManagerActionSummary

30 Sep 2025Acorn CapitalHeldAcorn Capital continues to hold Syrah Resources Ltd despite a 26.3% share price decline following a major capital raise in July, because the company is well positioned for the next stage of its growth and development in graphite production, and the graphite price rebounded in July after a prolonged period of decline.

Critical MineralsQuarterly Report, price recorded $0.23

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on SYR.

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About Syrah Resources Ltd

Materials, Metals and Mining

Syrah Resources (ASX:SYR), a graphite producer, fell after a capital raising according to Acorn Capital. In September 2025, Acorn reported Syrah was down 26% after completing a major capital raise in July, noting that, similar to lithium, the graphite price had experienced a significant decline, putting pressure on its finances. Syrah Resources operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 1 comment from 1 fund manager, Acorn Capital. Founded in 2007 and headquartered in Melbourne, Syrah Resources operates the Balama graphite mine in Mozambique, one of the world's largest, and the Vidalia active anode material facility in Louisiana, which produces battery-grade graphite for electric vehicle makers, positioning it as a key non-Chinese graphite supplier, though weak graphite prices and operational disruptions have challenged its profitability.

Market cap: $153m
Price to earnings: Loss-making
Return on equity: -28.4%
Dividend yield: 0.0%
Price to book: 0.33x
Net margin: -301.6%
52-week range: $0.07 to $0.47

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Syrah Resources Ltd (ASX:SYR)?

Fund managers including Acorn Capital have invested in Syrah Resources Ltd (ASX:SYR).

What opportunities or catalysts do fund managers highlight for Syrah Resources Ltd?

The available commentary does not highlight specific opportunities, though Syrah is a strategic non-Chinese supplier of graphite and battery anode material.

What are the key risks to the Syrah Resources Ltd investment thesis, according to fund managers?

Acorn notes a 26% share price fall after a major capital raise and a significant decline in graphite prices.

What does Syrah Resources Ltd (ASX:SYR) do?

Syrah Resources Ltd. is an industrial minerals and technology company based in Melbourne, Australia, founded on May 4, 2007. It operates through two segments: Balma and Corporate. The Balma segment covers mining, mineral exploration, evaluation, and development activities linked to the Balama Graphite Project in Mozambique. The Corporate segment includes corporate administration, investing activities, and development of the group’s battery anode material strategy. Its projects include the Balma Project, Spherical Graphite Project, and Balama Vanadium Project.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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