Syrah Resources ( ASX: SYR ) has received strong investor support to raise A$6 million to fund drilling at its wholly owned Balama Graphite Project in Mozambique. The company received firm commitments for the placement of 10 million shares at $0.60 each to institutional and sophisticated investors. Preliminary metallurgical testwork results for Balama have shown grades in excess of 95%C at recoveries of up to 87% of contained carbon.