Questions, questions?
Why would the main Institutional Investors consisting of Dundee Resources (CAN) 19%,VR Capital Group (UK) 9%, JP Morgan Asset Management (UK) 8% hold a total of about 41% of Nextsource Materials issued shares, if not having the oft mentioned mining permit were so important? Is it possible that Institutional Investors were buying more shares during the recent weeks of heavy volume? Are the recent slew of negative posts coming from investors whose companies been effected by market conditions and other problems? Before Phase 1 modular approach was selected by Nextsource Materials the following news release indicated a large proven reserve with a 26 year mine life with the ability to produce 53,017 tonne of quality graphite annually: https://www.nextsourcematerials.com/posts/energizer-resources-inc-announces-positive-results-of-its-feasibility-study/ From it I am of the opinion that Nextsource Materials has the reserves to become an important player in the graphite mining area. It was logical for them to step back as the graphite price was not agreeable and plan a modular approach to save initial plant costs and allow them to increase production as required. In other words if it is not required to later go into full Phase 2 production of 50,000 annual tonne, the 17,000 tonne Phase 1 Modular Plant can also be increased in smaller increments.