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NextSource Materials Inc T.NEXT

Alternate Symbol(s):  NSRCF

NextSource Materials Inc. is a Canada-based battery materials development company. The Company is focused on supplying battery materials through the mining and value-added processing of graphite and other minerals. Its segments include mine development and BAF development. The Company’s principal business is the development of the Molo Graphite Mine (the Molo Mine) located near the town of Fotadrevo in the Province of Toliara, Madagascar. The Molo Mine has a production capacity of 150,000 tons per annum (tpa) of SuperFlake graphite concentrate. The Company is also developing a downstream graphite value-added business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers. It also owns the Green Giant Vanadium Project, located in Madagascar, and the Sagar Project, located in Quebec, which are at the exploration and evaluation stage.


TSX:NEXT - Post by User

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Post by FerrariPalmbeacon Jun 04, 2017 6:52pm
85 Views
Post# 26322610

From the 12/31/2014 10Q

From the 12/31/2014 10QThe following are the related party balances as of December 31, 2014: a) Related party balances of $Nil (June 30, 2014: $54,764) were included in amounts receivable and prepaid expenses and $52,200 (June 30, 2014: $33,019) related to rent, was included in accounts payable and accrued liabilities. b) During May 2014, the Company advanced a short-term loan to MacDonald Mines Exploration Ltd. (TSX-V: "BMK") totaling $86,007 (June 30, 2014: $47,081). This loan is interest bearing at a rate of 5%. No amounts have been paid back up to December 31, 2014. Accrued interest due totalled $1,756 as at December 31, 2014, and is included in the balance. c) Of the $1,704,809 (June 30, 2014: $7,760) in charges from a mining and engineering firm for which one of the Company's former directors serves as a senior officer and director. $301,700 (June 30, 2014: $633,416) is included in accounts payable and accrued liabilities. d) $129,010 (June 30, 2014: $264,922) is included within accounts payable and accrued liabilities as a committed amount due to the former Chief Executive Officer of the Company.
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