Here’s why the Syrah (ASX:SYR) share price jumped to a 52-week high today

The Syrah Resources Ltd (ASX: SYR) share price has continued its positive run and is pushing higher again on Tuesday.

At one stage today, the graphite producer’s shares were up almost 7% to a 52-week high of 95 cents.

When the Syrah share price hit that level, it meant it had gained a remarkable 116% since this time last month.

Why did the Syrah share price charge higher today?

This morning Syrah announced the completion of a bankable feasibility study (BFS) for the expansion of its natural graphite Active Anode Material (AAM) facility in Vidalia, Louisiana, United States.

This is part of its strategy of becoming the first vertically integrated producer of natural graphite AAM outside of China.

According to the release, the BFS…