The brand new gear is designed to type the SuperFlake graphite focus into particular person dimension fractions to satisfy buyer specs. With the improve, the Molo mine is now assembly or exceeding restoration and grade expectations, persistently producing focus at a carbon content material of between 95%-97%, the corporate mentioned.
Nextsource mentioned it’s now transporting these saleable SuperFlake concentrates from the Molo mine to the Port of Tulear in preparation for export.
“The workforce have delivered on the chance to capitalize on the standard of the Molo graphite deposit by bettering recoveries and grades,” CEO Craig Scherba mentioned in a information launch. “Having beforehand shipped check materials for qualification, we are actually producing high-quality, saleable graphite focus.”
In the course of the display set up, extra course of plant upgrades had been additionally carried out on the Molo mine, which the corporate believes will additional allow sustainable and enhanced recoveries going ahead. In consequence, plant stability has been optimized, and the operation is effectively positioned forward of its deliberate Part 2 growth, NextSource mentioned.
Part 2 is anticipated to start from the third 12 months of manufacturing, with a nameplate capability of 150,000 tonnes every year, in keeping with a 2023 feasibility examine. The manufacturing profile is predicated on measured sources of 23.6 million tonnes grading 6.32% Cg, indicated sources of 76.8 million tonnes grading 6.25% Cg and inferred sources of 40.9 million tonnes grading 5.78% Cg for the Molo deposit.
Shares of NextSource Supplies had been up 2.6% by 1:00 p.m. ET following Wednesday’s announcement, giving the corporate a market capitalization of C$123.1 million ($89.6m).