Nextsource Materials Inc (NSRCF)

[Venturer1]

Stooge,
From seekingalpha.com:

According to the Frasier Institute's Survey of Mining Executives Madagascar ranks 103/112 countries, states and provinces, with primary investor concerns being the country's legal system and its lack of infrastructure and labor. There's not much that the company can do about the legal system, although the PEA cites the country's new mining code of 1999 and the country's economic revival plan of 2000 as reasons to be optimistic. However investors should be skeptical of attempts made by regimes in developing countries to appease the investing community given the frequency with which we've seen a resurgence of political instability, asset confiscation, or excessive taxation.

Finally, and this is a new development, the company is assuming that it gets 50% debt based financing in its FS's calculation of the project's NPV. This means that it is essentially discounting out half of the expense at a discount rate (10%) that exceeds its expected interest rate (LIBOR + 5.75%, peaking at just under 9% by 2022). Investors have to wonder if this is feasible, especially since no company in the graphite space with a feasibility study has gotten financing despite trying (e.g. Northern Graphite and Focus Graphite (OTCQX:FCSMF)).

We need a miracle!
JMHO