NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) is positioned to be a leading vertically integrated supplier of lithium-ion battery anode material for electric vehicles, analysts at Capital Access believe.
The firm has initiated coverage on NextSource Materials, which is ramping up to Phase 1 production of 17,000 tons per year at its Molo graphite mine in Madagascar and the final permitting process for its first Battery Anode Facility in Mauritius.
Graphite makes up almost half of a lithium-ion battery cell, with 50 kilograms to 100 kilograms required per EV battery pack.
Capital Access analyst Colin Smith described NextSource Materials’ Molo mine, which has more than 100 million tons of measured and indicated resources, as a “world-scale graphite resource.”
“The current Phase 1 is just a fraction of what it is capable of. The company plans to expand capacity to 150,000 tons a year,” he told Proactive….
