Syrah Resources Limited (SYR) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the SIRA Resources Q2 quarterly report update. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you'll need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Sean Verner, Managing Director and CEO. Please go ahead. Thank you, good morning, and thanks to everyone for joining us on the call today. With me is our CSO, Steve Wells. We'll use the presentation release along with the quarterly report through today's call. We'll start on slide three. The second quarter of 2026 for the global grad science in those material markets still digesting the US International Trade Commission's negative determination. in the anti-dumping and countervailing duties case, amid ongoing demand-side policy uncertainty. Consequently, Syrah's natural graphite production and sales performance was softer than we had initially expected. This policy inertia led to subdued market conditions and price sensitivity with natural graphite feedstock customers during the second quarter, which together with increased ex-China activity from Chinese-operated graphite suppliers negatively impacted sales demand for Palama. Our operations decisions at Palama are informed by confirmed demand signals from the market and with slower than planned inventory drawdown, Syrah's natural graphite production was moderated with the planned production campaign being deferred into the third quarter and now underway. The expansion of Chinese-controlled East Africa finance supply into the ex-China trade is a relatively new dynamic playing out in the seaborne markets. The Chinese privately-held natural graphite ope...