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Home CompaniesNextSource Materials Inc

NextSource Materials Inc

Basic Materials Other Industrial Metals & Mining
PortfolioPortfolio WatchlistWatchlist
Company price
0.2 CAD 0.02 ( 11.11%)
Last update at 2026-11-04T19:06:00Z
VOLUME
60965
Market Cap
74.54M

Momentum Score

…

NextSource Materials Inc. explores for, develops, and evaluates mineral properties in Madagascar and Canada. It operates through Mine Development and Battery Anode Facilities (BAF) Development segments. The company explores for graphite and vanadium deposits. It holds interests in the Molo graphite mine located in the Province of Toliara in Southern Madagascar; the Green Giant Vanadium Project located in Madagascar; and the Sagar Project located in Quebec, Canada. The company also operates battery anode facilities in Mauritius. In addition, it provides mining and value-added processing of graphite concentrate and other minerals under the SuperFlake brand. The company was formerly known as Energizer Resources Inc. and changed its name to NextSource Materials Inc. in April 2017. NextSource Materials Inc. was founded in 2004 and is headquartered in Toronto, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
0.18
Low
0.20
High
52 Week Price Range
0.15
Low
0.63
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

NextSource Materials Inc is a Canadian miner developing natural flake graphite projects in Madagascar to supply lithium-ion battery anodes and industrial users. Long-term drivers include rising battery raw-material demand, supply-chain localization for EVs and potential downstream processing, which may support future revenues.
Key risks are project execution and financing, permitting and geopolitical exposure in Madagascar, price volatility for graphite and competition from synthetic and established producers, which investors should monitor.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
0.18
Dividend Yield
-
Revenue TTM
1.22M
Revenue Per Share
0.01
Gross Profit TTM
-12.23M
Debt / Equity
0.43
ROE
-84.21%
Net Debt
20.99M
ROCE
-46.46%
Diluted EPS TTM
-0.25

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Income before tax -22.71M -8.75M -11.68M -21.45M -41.96M
Net income -32.44M -9.00M -11.68M -21.46M -78.55M
Selling general administrative 8.90M 6.77M 4.00M 2.32M 5.46M
Selling and marketing expenses -0.08M 0.41M - - -
Gross profit -4.28M -0.00M - -0.10M -0.01M
Reconciled depreciation - 0.20M - 0.04M 0.01M
Ebit -28.08M -7.38M -4.79M -2.12M -5.37M
Ebitda -27.15M -7.37M - -2.08M -5.36M
Depreciation and amortization 0.93M 0.01M - 0.04M 0.01M
Operating income -14.89M -7.18M -5.08M -2.12M -5.37M
Other operating expenses 15.61M 7.18M - 2.59M 5.52M
Interest expense 3.60M 0.27M 0.29M 0.01M 0.00M
Tax provision 0.54M 0.25M 0.00M 0.00M 0.00M
Interest income - 1.16M 2.78M 19.23M 36.49M
Net interest income - 0.89M - -0.01M -0.00M
Income tax expense 0.54M 0.25M - 0.01M 36.59M
Total revenue 0.71M 0.00M 0.00M 0.00M 0.00M
Total operating expenses 8.82M 7.18M - 2.49M 5.51M
Cost of revenue 5.28M 0.00M - 0.10M 0.01M
Total other income expense net -7.82M -1.58M - -19.33M -36.59M
Net income from continuing ops - -9.00M - -21.45M -41.96M
Net income applicable to common shares -23.26M - -11.68M 16.12M -41.96M
Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Total assets 84.20M 92.85M 52.98M 29.30M 26.92M
Other current assets 1.18M 1.33M - 0.10M -
Total liab 43.21M 40.55M 27.77M 32.36M 53.07M
Total stockholder equity 55.93M 52.30M 25.20M -3.06M -26.15M
Other current liab 4.36M 3.55M 3.60M 23.46M 46.34M
Common stock 295.32M 205.03M 169.21M 127.38M 120.49M
Capital stock - 205.03M - 127.38M 120.49M
Retained earnings -238.39M -151.45M -142.45M -130.77M -146.89M
Other liab - - 9.66M 7.73M 6.33M
Other assets 0.89M - 0.72M 0.18M -
Cash 4.48M 10.77M - 9.79M 22.44M
Cash and equivalents 3.28M - 6.89M 9.79M 22.44M
Total current liabilities 23.76M 10.43M 7.90M 24.33M 46.73M
Current deferred revenue - - - - 0.96M
Net debt 20.99M 10.43M - -9.44M -22.43M
Short term debt 16.84M 2.41M 0.00M 0.05M 0.01M
Short long term debt total 24.27M 21.20M - 0.35M 0.01M
Other stockholder equity -0.74M -0.00M -1.56M 0.33M 0.26M
Property plant equipment 72.66M - 44.24M 18.65M 4.34M
Total current assets 14.52M 13.54M 8.02M 10.46M 22.58M
Net tangible assets - - 25.20M -3.06M -26.15M
Net receivables 0.66M 0.43M 0.49M 0.57M 0.09M
Long term debt 8.69M - - - -
Inventory 8.20M 1.00M 0.47M - -
Accounts payable 2.56M 4.47M 3.01M 0.82M 0.38M
Accumulated other comprehensive income -1.01M -1.27M - 0.33M 0.26M
Non currrent assets other 0.89M 9.49M - 0.18M -
Non current assets total 73.55M 79.31M - 18.83M 4.34M
Capital lease obligations - 21.20M - 0.35M 0.01M
Long term debt total 16.12M - 10.21M 0.30M 0.01M
Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Investments - -20.93M - -13.14M -4.33M
Change to liabilities - - 1.15M 1.26M -0.09M
Total cashflows from investing activities -13.46M -20.93M -14.05M -13.14M -4.33M
Net borrowings - -0.60M -1.39M -0.05M -0.03M
Total cash from financing activities 32.56M 33.70M 18.46M 2.05M 27.83M
Change to operating activities - - -0.02M -0.06M 0.56M
Net income -23.26M -8.75M -11.68M 16.12M -41.96M
Change in cash -10.26M 3.88M -2.91M -12.64M 22.21M
Begin period cash flow 14.74M 6.89M 9.79M 22.44M 0.22M
End period cash flow 4.48M 10.77M - 9.79M 22.44M
Total cash from operating activities -29.64M -8.89M -7.05M -1.63M -1.43M
Issuance of capital stock - 37.75M - 0.00M 19.98M
Depreciation 0.66M 0.20M 0.39M 0.04M 0.01M
Other cashflows from investing activities 0.00M -8.77M -0.54M -0.18M -0.18M
Change to inventory -11.32M -0.00M - - -
Change to account receivables -0.63M -0.00M -0.47M -0.53M -0.11M
Sale purchase of stock 11.33M 37.75M 17.00M 2.11M 21.65M
Other cashflows from financing activities -0.67M -3.44M 2.85M 2.11M 7.89M
Change to netincome - - 3.57M -18.47M 40.23M
Capital expenditures 9.65M 12.16M 13.51M 12.96M 4.33M
Change in working capital -13.36M -2.19M 0.67M 0.68M 0.29M
Stock based compensation -0.11M 0.33M - 0.32M 3.74M
Other non cash items 6.43M 1.52M - -18.78M 36.49M
Free cash flow -30.90M -21.05M - -14.60M -5.75M

Peer Comparison*

Sector: Basic Materials Industry: Other Industrial Metals & Mining

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
NEXT
NextSource Materials Inc		 0.02
11.11%		 0.20 - - 61.28 2.27 72.01 5.08
TECK-B
Teck Resources Limited		 3.08
3.56%		 89.53 12.14 9.12 1.91 0.97 2.53 6.34
TECK-A
Teck Resources Limited		 3.11
3.60%		 89.47 12.13 9.34 1.91 0.99 2.58 6.47
IVN
Ivanhoe Mines Ltd.		 -0.50
5.63%		 8.38 44.19 31.45 37.10 2.17 30.10 40.94
NGEX
NGEx Minerals Ltd.		 0.98
4.70%		 21.83 - - - 13.49 - -21.12

Profile*

NextSource Materials Inc

NextSource Materials Inc. explores for, develops, and evaluates mineral properties in Madagascar and Canada. It operates through Mine Development and Battery Anode Facilities (BAF) Development segments. The company explores for graphite and vanadium deposits. It holds interests in the Molo graphite mine located in the Province of Toliara in Southern Madagascar; the Green Giant Vanadium Project located in Madagascar; and the Sagar Project located in Quebec, Canada. The company also operates battery anode facilities in Mauritius. In addition, it provides mining and value-added processing of graphite concentrate and other minerals under the SuperFlake brand. The company was formerly known as Energizer Resources Inc. and changed its name to NextSource Materials Inc. in April 2017. NextSource Materials Inc. was founded in 2004 and is headquartered in Toronto, Canada.

Exchange Tower, Toronto, ON, Canada, M5X 2A2

416 364 4911

https://www.nextsourcematerials.com

283

Name Title Year Born
Mr. Craig Scherba P.Geol. Pres, CEO & Director 1972
Mr. Marc Johnson C.F.A., CPA, CFA, CPA Chief Financial Officer 1976
Mr. Robin Philip Borley COO & Director 1968
Mr. Brent A. Nykoliation B.Com. Sr. VP of Corp. Devel. 1969
Mr. Francis Chantrand Ph.D., P.Geo. Consultant NA
Mr. Johann Knipe de Bruin Sr. Consultant of Operational Readiness 1970
Mr. Jonathan Andrew Velloza Interim Chief Operating Officer 1971
Mr. Craig Scherba P.Geo. Chief Development Officer & Director 1972
Dr. Markus Reichardt Vice President of Sustainability NA
Mr. Hanre A. Rossouw B.Com., M.B.A. President, CEO & Director 1975

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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