Syrah Resources (ASX:SYR) responded to a price query probe from the Australian Stock Exchange noting media speculation today regarding an informal takeover approach but had nothing to report.
It did say that it received confidential and non-binding enquiries from various parties from time to time.
This was in response to a share price gain from $4.29 at the close of trading on 9 July 2014 to a high of $5.53 today.
The price had drifted back to a low of $4.90 before rising again to $5.30.
Volume was solid ahead of the speeding ticket.
The company said in a statement that none of these enquiries have progressed to formal discussions or resulted in any indicative offers being received by Syrah.
One or two media outlets had indicated that Swiss commodities group Glencore (LON:GLEN) had made an informal approach to Syrah regarding a takeover offer that would value the company at A$2 billion.
Which seems extraordinary as Syrah has a current market value of A$827 million. That said, the company's graphite and vanadium deposit in Mozambique is a tier 1 asset.
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