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NextSource Materials Inc.

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Summary

Project:

Molo

Deposit:Molo
Location:Madagascar
Commodities:Graphite
Date:9/27/2019
Report Code:NI43-101
Report Type:Feasibility Study
Project Stage:Mine Development
Report details:27-9-2019: 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 $237.1M, IRR of 43.1%. TORONTO, Sept. 27, 2019 -- NextSource Materials Inc. (TSX:NEXT)
Resources:(Reserve, P+P): 22.4Mt @ 7.02% C
CP/QP:[Resources]: J Hancox, D Subrumani (Caracle Creek International Consulting Inc.)
ABSTRACT:TORONTO, Sept. 27, 2019 -- NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or “the Company”), is pleased to report the results of its 2019 Feasibility Study for its 100%-owned Molo Graphite Project in southern Madagascar. The FS takes into account updated mine capital equipment and mining costs, as well as current 12-month rolling flake graphite pricing on a FOB China basis, supplied by UK-based battery mineral commodities research firm, Benchmark Minerals Intelligence. The FS was based on a Front End Engineering and Design study (“FEED”), and subsequent Detailed Engineering studies. The FS incorporates the procurement of all mining equipment, off-site modular fabrication and assembly, factory acceptance testing, module disassembly, shipping, plant infrastructure construction, onsite module re-assembly, commissioning, project contingencies and working capital. All capital and operating costs expressed for Phase 1 are considered to be accurate to +/- 10%, and accurate to +/- 12.5% for Phase 2. In order to ensure that the Company maintains a first-mover competitive advantage over the competition and to appropriately plan for future market demand, the FS was designed to provide a flexible mine development approach that comprises a unique, all-modular build solution yielding optimal cashflow and return metrics with suitable flexibility to enable a rapid response to the anticipated market demand for graphite.

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