Operator

Thank you for standing by, and welcome to the Syrah Resources Q1 Quarterly Report Update. [Operator Instructions]

I would now like to hand the conference over to Shaun Verner, Managing Director and CEO. Please go ahead.

Shaun Verner
MD, CEO & Executive Director

Good morning, and thank you for joining us on the call today. With me is our CFO, Steve Wells. Start of the year has seen extensive corporate and operational activity. And today, we'll provide you with an update on that and our markets, including recent important developments in the reset of our balance sheet to position the company for long-term growth and success.

Slide 3 of the presentation we released alongside the report today steps through the key elements of the investment thesis for Syrah. We have a clear advantage in natural graphite and active anode material markets as the integrated first mover outside China. No other company today has both an operating graphite mine and integration with a fully operational commercial scale active anode material facility and is positioned to supply into the U.S. domestic battery manufacturing market.

We strongly believe that this will deliver advantage as the market continues to bifurcate into China and ex-China demand pools, particularly considering that other new projects have long lead times and significant capital requirements in front of them.

Secondly, Balama is the largest and highest grade natural graphite resource and operation outside China. Its scale and ore quality give us meaningful optionality as demand grows and as ex-China customers prioritize diversification, both