Welcome to our dedicated page for Nextsource news (Ticker: NSRCF), a resource for investors and traders seeking the latest updates and insights on Nextsource stock.
NextSource Materials Inc. (OTCQB: NSRCF) generates news that centers on its role as a battery materials company focused on graphite and anode active material. Company announcements highlight progress at the Molo graphite project in Madagascar, development of Battery Anode Facilities in the United Arab Emirates, and agreements with strategic partners in the battery and automotive supply chain.
Recent updates include technical and economic study results for a proposed 30,000 tonnes per annum Battery Anode Facility in the Industrial City of Abu Dhabi, the securing of an industrial building at that site, and the arrival of long-lead processing equipment in the UAE. The company also reports on front-end engineering and design work with its engineering partner Stantec, and on non-binding term sheets with strategic investors and local capital partners to fund Phase 1 of the UAE facility.
News flow also covers operational developments at the Molo mine, such as confirmation of uninterrupted mining and shipments of SuperFlake® graphite concentrate, campaign production strategies, and the use of Phase 1 operations to qualify products with customers. In addition, the company discloses financing arrangements, including an expanded drawdown facility with Vision Blue Resources, and corporate events such as annual shareholder meeting results.
Investors following NSRCF news can expect updates on offtake agreements, notably the binding multi-year agreement with Mitsubishi Chemical Corporation, project milestones for the UAE Battery Anode Facility, mine expansion studies, and other developments related to NextSource’s graphite-based battery materials strategy.
NextSource Materials Inc. (OTCQB:NSRCF) announced the results of its Special Meeting of Shareholders held on May 17, 2021, where shareholders approved a US$12.4 million second private placement with Vision Blue Resources Limited by an 87.80% majority. This placement involves issuing 232,142,857 units priced at C$0.07 each. Additionally, a share consolidation on a 1-for-10 basis will take effect on May 20, 2021. The funds will support the Molo graphite mine's Phase 1 construction, expected to be commissioned by April 2022. The company aims to enhance its market position through this strategic investment.
NextSource Materials Inc. (OTCQB:NSRCF) has commenced procurement for its Molo graphite mine in Madagascar as of May 11, 2021. Following a funding deal with Vision Blue Resources, the company is on schedule for construction to begin in August 2021, with commissioning set for April 2022. Essential processing plant equipment orders have been placed, targeting a processing capacity of 240,000 tpa of ore and producing approximately 17,000 tpa of SuperFlake® graphite concentrate. This project positions NextSource to become a leading supplier of high-quality graphite as demand for battery materials rises.
NextSource Materials Inc. (OTCQB:NSRCF) announced a virtual Special Meeting of Shareholders on May 17, 2021, to approve the second tranche of a US$29.5 million investment from Vision Blue Resources. The Board recommends shareholders support this resolution to fund the Molo Graphite Mine, expected to process 240,000 tpa of ore and produce 17,000 tpa of flake graphite concentrate by April 2022. Vision Blue, led by Sir Mick Davis, aims to enhance growth and production capacity, positioning NextSource as a key player in the battery materials market.
NextSource Materials Inc. (OTCQB:NSRCF) will present at the Money, Metals, & Mining Virtual Expo from April 20-22, 2021. The presentation by EVP Brent Nykoliation is scheduled for April 22 at 3:55 PM EDT. The company aims to become a global supplier of critical battery materials, targeting commercial production at its Molo graphite project in Madagascar by April 2022. The project is known for its quality SuperFlake® graphite, with initial production set at 17,000 tonnes per annum. NextSource's strategic partnerships focus on supplying anode materials for lithium-ion batteries.
NextSource Materials has announced a binding agreement to establish a battery anode facility in partnership with two industry leaders. This facility will produce spheronized and purified graphite for lithium-ion batteries, catering to the Tesla supply chain and other automotive manufacturers. The exclusive partnership allows NextSource access to advanced spheroidization technology, expediting quality assurance processes. Targeted commissioning of the facility is set for Q4 2022. With its operational plans and partnerships, NextSource aims to position itself as a key supplier in the electric vehicle market.
NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) will present at the Cormark Securities Inflection 2021 Environmental Sustainability Conference from April 12 to 16, 2021. The conference will feature 40 companies and over 200 investors, with NextSource as the sole graphite company represented. Chairman Sir Mick Davis will address sustainability in the materials and mining sector. The Toronto-based company aims for commercial production of its Molo graphite project in Madagascar by April 2022, targeting approximately 17,000 tonnes per annum in initial output.
NextSource Materials Inc. has awarded an Engineering, Procurement, and Construction Management (EPCM) contract to Erudite Strategies Ltd. to commence construction of the Molo graphite mine in Madagascar. The mine is set to start operations in March 2022, with a processing plant capable of handling 240,000 tpa of ore and producing about 17,000 tpa of SuperFlake® graphite concentrate. The initial funding of $29.5 million required for construction has been secured through Vision Blue Resources Limited.
NextSource Materials has appointed Sir Mick Davis, former CEO of Xstrata Plc, as Chair of the Board. This follows the successful closure of a US$6.1M initial private placement, part of a larger US$29.5M financing package from Vision Blue Resources. The funds will expedite the completion of two technical studies for the expansion of the Molo graphite mine in Madagascar and the construction of a processing plant for spheronized, purified graphite for lithium-ion battery production.
NextSource Materials Inc. (OTCQB:NSRCF) announced progress on its first tranche of a non-brokered private placement with Vision Blue Resources Ltd, facilitating the construction of the Molo Graphite Project in Madagascar. This Initial Private Placement is part of a larger financing package totaling US$29.5M, including US$6.1M in equity and US$11.0M in non-dilutive royalty financing. The funds will aid in initiating construction and conducting technical studies for mine expansion and a new graphite plant targeting production for electric vehicle batteries.
NextSource Materials has secured a US$29.5 million financing package from Vision Blue Resources to fully fund the construction of the Molo graphite mine in Madagascar, targeted for full production by mid-2022. The financing includes a US$6.1 million initial equity private placement, a subsequent US$12.4 million placement pending shareholder approval, and US$11 million in non-dilutive royalty financing. Vision Blue's investment signifies confidence in the Molo project as a critical resource for battery materials, with plans for a processing plant to produce spheronized, purified graphite.
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