Syrah shares closed at $4. 29 yesterday, then soared to an intra-day high of $5. 53 before being placed in a trading halt. "From time to time Syrah receives informal, confidential and non-binding enquiries from various parties regarding Syrah’s interest in entering takeover discussions," the junior miner said. "None of these enquiries have progressed to formal discussions or resulted in any indicative offers being received by Syrah.
Graphite and vanadium junior Syrah Resources says it receives enquiries about takeover discussions from time to time but none of these have progressed to formal discussions, following reports of an approach from mining giant Glencore that could value it at triple its market value.
Read more here: Business Spectator