** Shares of Syrah Resources SYR.AX rise as much as 17.8% to A$0.265, hitting their highest levels since Dec 11

** Stock set for strongest trading session since early December, if current trend holds

** Co's unit Syrah Technologies awarded a tax credit of around $165 mln by the U.S. Internal Revenue Service

** Tax credit comes at a time when the miner has declared force majeure at its Balama graphite project in Mozambique in late Dec., which also led co to default on its U.S.-backed loans

** Stock up 20.7% YTD, as of last close

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))