FINWIRES · TerminalLIVE
FINWIRES

Syrah Resources Progresses $15 Million DFC Loan Disbursement for Mozambique Operation; Shares Down 5%

By

Syrah Resources (ASX:SYR) said it is progressing a further $15 million loan disbursement from the US International Development Finance Corporation (DFC) to its subsidiary Twigg Exploration and Mining, with completion now expected in October to fund working and sustaining capital at its Balama graphite operation, according to a Wednesday Australian bourse filing.

The company said negotiations with DFC, the US Department of Energy and AustralianSuper over broader strategic funding proposals are continuing, but binding documentation is taking longer than expected, per the filing.

The company now expects financial close in the first half of 2027, subject to required approvals, while cautioning that the proposed transactions could change or ultimately not proceed, the filing added.

The minerals and technology company's shares fell nearly 5% in recent Wednesday trade.

Related Articles

Asia

Majestic Dragon Aerotech Appoints Marketing Chief

Majestic Dragon Aerotech (HKG:0918) has appointed Zhang Chen as the company's chief marketing officer, according to a Monday bourse filing.Zhang has over 10 years of experience in real estate development and in managing hotel operations and fire safety systems. His appointment will be effective Dec. 7.

HKG:0918
Asia

HRnetGroup Gets SGX-ST Preliminary Nod for Share Listing

HRnetGroup (SGX:CHZ) has received in-principle approval from the Singapore Exchange Securities Trading (SGX-ST) for the listing and quotation of 241,527 shares to be transferred to certain employees and executive director.The approval is subject to the company complying with SGX-ST listing requirements, including obtaining specific shareholders' approval where applicable, according to a Monday Singapore Exchange filing.The company will make the necessary announcement once the shares are transferred.

SGX:CHZ
Asia

Sequoia Financial Group Ex-Boss Faces 10-Year ASIC Ban From Financial Services Roles

Sequoia Financial Group (ASX:SEQ) former Chief Executive Garry Crole has been banned by the Australian Securities and Investments Commission (ASIC) for 10 years from performing any function involved in carrying on a financial services business as a director or responsible manager, according to a Tuesday statement by ASIC.The regulator said Crole failed to adequately respond to serious concerns about the financial advice model used by former Interprac-authorized representatives, who advised thousands of clients to invest superannuation in the now-collapsed First Guardian and Shield Master Funds.The company did not immediately respond to anemail request for comment.

ASX:SEQ