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NextSource Materials Inc.
Summary
| Project: | Molo | |
|---|---|---|
| Deposit: | Molo | |
| Location: | Madagascar | |
| Commodities: | Graphite | |
| Date: | 6/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 1-6-2017: NextSource Materials Inc. announces a Feasibility Study report for its Molo deposit at the Molo project. Feasibility study results incl. post-tax NPV (8%) of $25.5M, IRR of 21.6%, LOM of 30yrs. NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRC) ( | |
| Resources: | (Reserve, P+P): 22.437Mt @ 7.02% C grade at project | |
| CP/QP: | [Overall Report]: Phillip John Hancox, Desmond Subramani (CCIC MinRes) | |
| ABSTRACT: | NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRC) (“NextSource” or “the Company”), is pleased to report the positive results of its updated Feasibility Study (“updated FS”) for its 100%- owned Molo Graphite Project in southern Madagascar. The updated FS was undertaken to reflect the Company’s decision to revise Phase 1 of its Molo mine plan from a demonstration plant to a fully operational and sustainable graphite mine with a permanent processing plant capable of producing approximately 17,000 tpa of high-quality SuperFlake™ concentrate per year with a mine life of 30 years. The updated FS for Phase 1 of the Molo Project was based on a Front End Engineering and Design study (FEED), and subsequent Detailed Engineering studies. The updated FS incorporates the procurement of all mining equipment, off-site modular fabrication and assembly, factory acceptance testing (FAT), module disassembly, shipping, plant infrastructure construction, onsite module re-assembly, commissioning, project contingencies and three months of capital. All capital and operating costs expressed below are considered to be accurate to +/- 10%. “We are very pleased with the results of the updated Feasibility Study. It verifies that Phase one of our Molo mine plan is economically viable using an industry first, fully modular build approach under current and realistic market conditions and reaffirms the Company’s strategy of using a two-phased approach to establish the Molo as a worldclass producer of high-quality flake graphite. Phase one will be implemented with an incredibly low capital cost, competitive operating costs and with an initial production volume that can be easily absorbed into the current market. This will allow us to quickly penetrate the market, generate revenue and establish strong relationships with key buyers. | |
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