The company said a final investment decision depended on "end customer commitments and strategic / financial partnerships".
The cost of a full-scale development at Vidalia in Louisiana (fed by natural graphite from Syrah's Balama operation in Mozambique), hasn't been publicly disclosed.
If the development goes ahead, Syrah claims it would be the the only vertically integrated and commercial scale AAM supply source outside China.
Syrah had cash at the end of the March quarter of US$78 million.
Syrah restarted operations at Balama last quarter after shutting the project down with the onset of COVID-19.
Shares in Syrah were trading at A97.5c at the end of last week, capitalising the company at $485 million.
