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2026-11-06
◂ Monitor SYR ASX

Syrah Resources Limited

Producer · Graphite · Mozambique · United States Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.063
1D
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1M
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YTD
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1Y
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Fair value
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Upside
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Mkt cap
A$146.3M
EV
A$470.4M
Cash
US$98.3M
Debt
US$311.5M
3 newer ASX announcements not yet reflected in this valuation

People, delivery and responsibility

Management background checks

Evidence through 2026-10-09

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

This initial public-source management review covers the selected company.json roster plus issuer-confirmed current management additions. Career histories are unevenly documented, and role-specific achievements are often issuer-reported rather than independently attributable.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Shaun Verner

Managing Director / Chief Executive Officer

Current
Full background report for Shaun Verner
FailureDocumented · Medium materiality

Tesla alleged sample default cured; final qualification remained outstanding

Syrah disclosed in September 2025 that Tesla alleged a default over conforming Vidalia active anode material samples; Syrah said it did not accept that it was in default, and the cure date was extended. On 1 June 2026 Syrah said Tesla accepted it had demonstrated conforming samples and enough progress to cure the alleged default, and withdrew its intent to terminate. The same release said Tesla retained an existing termination right because final qualification had not yet been achieved. The reviewed evidence therefore resolves the alleged sample default but not final qualification risk.

Role overlaps event; causation unproven · Shaun Verner was Managing Director, and the 2025/2026 announcements were authorized on behalf of the board by him. This documents his role in communicating the issue and resolution, not personal fault for the alleged default.

Tesla offtake alleged default resolved · announcement text, p.1
Evidence gaps · 7
  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.
  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.
  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.
  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.
  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.
  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.
  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Full background report

Shaun Verner

Managing Director / Chief Executive Officer

Career chronology

  • Current role; start date not established in reviewed sources: Syrah Resources Limited — Managing Director / Chief Executive Officer. Our Team (Syrah Our Team, Board of Directors, lines 57–59)

  • 2016-10 to current; CEO/MD from 2017-02: Syrah Resources Limited — Joined October 2016; appointed Managing Director and CEO February 2017. Syrah Resources investor presentation / management biographies (Company leadership biographies; current role cross-checked in FY2025 annual report); 2025 Annual Report (Company leadership biographies; current role cross-checked in FY2025 annual report)

  • About 20 years before joining Syrah; exact dates/roles not itemized: BHP — Various executive roles across commodities and international commercial/operations. Syrah Resources investor presentation / management biographies (Company biography, career section.)

Business failures and setbacks

Tesla alleged sample default cured; final qualification remained outstanding

2025–1 June 2026 · documented · medium materiality

Syrah disclosed in September 2025 that Tesla alleged a default over conforming Vidalia active anode material samples; Syrah said it did not accept that it was in default, and the cure date was extended. On 1 June 2026 Syrah said Tesla accepted it had demonstrated conforming samples and enough progress to cure the alleged default, and withdrew its intent to terminate. The same release said Tesla retained an existing termination right because final qualification had not yet been achieved. The reviewed evidence therefore resolves the alleged sample default but not final qualification risk.

Attribution: Role overlaps event; causation unproven. Shaun Verner was Managing Director, and the 2025/2026 announcements were authorized on behalf of the board by him. This documents his role in communicating the issue and resolution, not personal fault for the alleged default.

Relevance: Material commercial execution and customer-qualification issue for the Managing Director; cure mitigated the immediate termination threat while final qualification remained pending.

Tesla offtake alleged default cure date extended (announcement text, p.1); Tesla offtake alleged default resolved (announcement text, p.1)

Suitability for the current role

Public evidence of fit for Managing Director / Chief Executive Officer

Current role and prior career as stated by issuer · analyst inference · low materiality

The issuer biography reports: Issuer identifies him as Managing Director and CEO; the reviewed current team page contains no career or qualification chronology. Role-fit inference: this experience is relevant to the current Managing Director / Chief Executive Officer responsibilities, but issuer biographies are self-reported and do not independently establish personal delivery outcomes.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment based on the cited role and issuer-reported experience; it does not assign personal responsibility for company outcomes.

Relevance: Relevant to the current Managing Director / Chief Executive Officer role, with evidence quality constrained by the source scope.

Our Team (Syrah Our Team, Board of Directors, lines 57–59)

Evidence gaps

  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.

  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.

  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.

  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.

  • The June 2026 cure notice left final qualification outstanding and a customer termination right in place; no later qualification outcome was established from reviewed evidence through cutoff.

  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.

  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Stephen Wells

Chief Financial Officer

Current
Full background report for Stephen Wells

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.
  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Full background report

Stephen Wells

Chief Financial Officer

Career chronology

  • Current role; start date not established in reviewed sources: Syrah Resources Limited — Chief Financial Officer. Our Team (Syrah Our Team, Senior Management, lines 100–102)

  • Prior; no exact dates in company biography: nlc Pty Ltd — Chief Financial Officer and Chief Operating Officer. Syrah Resources investor presentation / management biographies (Company biography, CFO section.)

  • Prior; no exact dates in company biography: National Australia Bank — CFO roles in Wholesale Banking businesses. Syrah Resources investor presentation / management biographies (Company biography; specialist finance businesses included infrastructure, clean energy, natural resources, asset finance and utilities.)

Suitability for the current role

Public evidence of fit for Chief Financial Officer

Current role and prior career as stated by issuer · analyst inference · low materiality

The issuer biography reports: Issuer identifies him as CFO; the reviewed current team page contains no career or qualification chronology. Role-fit inference: this experience is relevant to the current Chief Financial Officer responsibilities, but issuer biographies are self-reported and do not independently establish personal delivery outcomes.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment based on the cited role and issuer-reported experience; it does not assign personal responsibility for company outcomes.

Relevance: Relevant to the current Chief Financial Officer role, with evidence quality constrained by the source scope.

Our Team (Syrah Our Team, Senior Management, lines 100–102)

Evidence gaps

  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.

  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Julio Costa

Chief Operating Officer

Current
Full background report for Julio Costa

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.
  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Full background report

Julio Costa

Chief Operating Officer

Career chronology

Suitability for the current role

Public evidence of fit for Chief Operating Officer

Current role and prior career as stated by issuer · analyst inference · low materiality

The issuer biography reports: Issuer identifies him as COO; the reviewed current team page contains no career or qualification chronology. Role-fit inference: this experience is relevant to the current Chief Operating Officer responsibilities, but issuer biographies are self-reported and do not independently establish personal delivery outcomes.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment based on the cited role and issuer-reported experience; it does not assign personal responsibility for company outcomes.

Relevance: Relevant to the current Chief Operating Officer role, with evidence quality constrained by the source scope.

Our Team (Syrah Our Team, Senior Management, lines 94–96)

Evidence gaps

  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.

  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Stefan Ross

Company Secretary

Current
Full background report for Stefan Ross

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.
  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Full background report

Stefan Ross

Company Secretary

Career chronology

  • Current role; start date not established in reviewed sources: Syrah Resources Limited — Company Secretary. Our Team (Syrah Our Team, Senior Management, lines 104–108)

  • Company secretary appointed from Vistra; concurrent service provider affiliation: Vistra (Australia) Pty Ltd — Company secretarial services provider. 2025 Annual Report (Annual report profile.)

  • Commenced accounting career as auditor in 2008; dates thereafter incomplete: Leydin Freyer — Auditor/accounting career. Stefan Ross (Business News public bio, profile excerpt; remainder partly paywalled.)

Suitability for the current role

Public evidence of fit for Company Secretary

Current role and prior career as stated by issuer · analyst inference · low materiality

The issuer biography reports: Issuer identifies him as Company Secretary; the reviewed current team page contains no career or qualification chronology. Role-fit inference: this experience is relevant to the current Company Secretary responsibilities, but issuer biographies are self-reported and do not independently establish personal delivery outcomes.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment based on the cited role and issuer-reported experience; it does not assign personal responsibility for company outcomes.

Relevance: Relevant to the current Company Secretary role, with evidence quality constrained by the source scope.

Our Team (Syrah Our Team, Senior Management, lines 104–108)

Evidence gaps

  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.

  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.