Nextsource Materials Inc (NSRCF)

[tahoe96]

Revisiting the J. Lee Interview, and ENZRs 3/4/11 release, I noticed something else when rereading both.

In the interview, we are well aware of the negative comments based on the "sedimentary" nature of the ENZR deposit. The basic premise of the Byron guy is that he thinks that the ENZR deposit is somehow at a disadvantage in processing because the % of V can't be upgraded prior to roasting like the magnetite based deposits.

If you assume this is correct, and is the only way ENZR can process it's deposit, you would be wrong.

Later in that same interview, another sediment hosted deposit is given a positive review because there is magically a "heap leach" process available to them, but not ENZR.

J. Lee: "American Vanadium could be a very low-cost producer of vanadium pentoxide. It has a sedimentary deposit east of Reno, Nevada, called the Gibellini project. It's interesting because it would use a heap-leach process, which is very different from other projects. The capital costs and operating costs are significantly less with a heap-leach project.

Wait. What? Can I ask a follow up? ..Wouldn't this same low cost process be available to ENZR?

Now, check out the ENZR info from the 3/4/11 PR regarding their process tests. It sounds like ENZR is using a similar low cost process:

"SGS Mineral Services (Lakefield) is conducting further metallurgical test work as part of the PEA to optimize the vanadium extraction process confirmed by SGS Lakefield in 2010. High vanadium extraction – up to 82% - was achieved by SGS Lakefield using an oxidizing pre-roast followed by an alkaline pressure leach. This process resulted in a leach solution low in deleterious elements and suitable for upgrading by solvent extraction. SGS Lakefield has identified several opportunities to optimize the process flow sheet, including the recycling of leach solution to increase vanadium tenor, reduction of soda ash consumption and optimization of pre-roast and pressure leach conditions (temperature and time).

George Annandale, a consultant to the Company and a vanadium expert with over 30 years of international experience, added that, “the alkaline pressure leach process which resulted in up to 82% vanadium extraction is a well-established and proven technology that is in use today, in particular, in connection with the treatment of uranium ores.”

It sounds to me like the J. Lee interview was hogwash, again from Byron. If anyone is selling based on this interview, they are making a mistake. I will gladly take your shares. This is a $3 stock by 2014.