UPDATE: Glencore takeover of Syrah “unlikely”, says Investec

By Laura Syrett
Published: Thursday, 10 July 2014

Market commentators believe that the risks associated with developing an exploration stage vanadium mining project will deter the trader from buying Syrah, while others have questioned the rumoured $2bn offer in light of the junior’s market cap.

A rumoured takeover of ASX-listed junior miner Syrah Resources by Swiss trading group Glencore is “unlikely” to come to fruition, according to specialist banking group Investec.

Syrah Resources is at an advanced exploration stage at its Balama graphite-vanadium project in Mozambique, but has yet to begin mining at...

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