Syrah Resources (ASX: SYR) has received a notice of initial substantial shareholding from JCP Investment Partners, which holds 8,177,122 shares, or a 5.04% stake in the company.
JCP is a specialist, wholesale Australian focused equities investor that specialises in managing high conviction, after-tax and risk customised portfolios for institutional clients.
It had acquired the shares in Syrah between 16 August 2013 and 16 December 2013 for an average price of $2.54 each.
Syrah has recently raised $35 million through an institutional equity placement to further progress its Balama graphite project in Mozambique.
It has also upgraded 90% of the Indicated Resource, or 11.6 million tonnes at 19.9% total graphitic carbon and 0.4% V2O5, at the Ativa Zone of Balama West to the Measured category.
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