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Syrah's graphite production and sales were constrained by the global shipping container bottleneck, though the company believes that issue has been "materially" solved with a second port in Mozambique (Pemba) featuring "breakbulk" exporting - versus shipping containers - set to kick into action this quarter.
The second port is expected to "materially improve (Syrah's) performance", according to company management on a quarterly report teleconference.
Though shipping has been an issue, plant performance from Syrah's Balama operation in Mozambique in the second half of 2021 was the best recorded to date.
Still, cash at the end of the December quarter had reduced US$21 million from the September period to $53 million.
Meanwhile a final investment decision on the active anode material development at Vidalia in Georgia, US, is understood to be imminent.
Some $97 million has been spent to date assessing Vidalia, which Syrah describes as the most advanced ex-China natural graphite active anode material project in the world.
Last month an聽"offtake agreement (was) executed with Tesla to supply 8000t per annum active anode material from Vidalia at a fixed price for an initial term of four years".
Shares in Syrah were down 2.3% to A$1.68, capitalising the company at $838 million.
The stock traded at over $2 per share earlier this month and is currently up about 50% on levels 12 months ago.
