NextSource Materials Inc. announced an update on the commissioning process at its Molo Graphite Mine southern Madagascar. Since announcing first graphite production in June 2023, the Company has progressed methodically through debottlenecking and optimization activities to achieve the plant nameplate capacity of 17,000 tonnes per annum of SuperFlake® graphite concentrate. During this ramp-up process, the Company further identified and is rectifying underperforming equipment in the screening circuit.

These constraints have delayed the point at which NextSource expects to reach plant nameplate capacity. Installation of replacement equipment is expected to be complete in April and ramp-up projected to continue until June, with the aim of achieving nameplate capacity in July. As a result of the revised schedule, the Company expects the first commercial shipment and sale of SuperFlake® concentrate under offtake agreements to occur in June.

Notwithstanding a slower than expected commissioning process, the Company has produced SuperFlake® concentrate with a carbon (C) content of over 95% and concentrate is being stockpiled at the mine and at a third-party warehouse facility at the Port of Tulear for shipment as qualifying material for prospective customers. To date, the Company has completed the shipment of almost 60 tonnes of qualifying material to its Battery Anode Facility (BAF) Technology Partner for testing and conversion into coated, spheronized, purified graphite ("CSPG").