Nextsource - NSRCF STOCK NEWS

NextSource Materials Inc. (OTCQB:NSRCF) has initiated the construction of a solar and battery hybrid power plant for Phase 1 of the Molo Graphite Mine in Madagascar, following a definitive agreement with CrossBoundary Energy. Earthworks are on schedule, with completion and commissioning expected in Q3 2022. The construction budget for Phase 1 has increased to $27 million due to rising global logistics costs. The hybrid plant will supply up to 33% of the mine's electricity needs with renewable energy. This step aligns with NextSource's commitment to sustainability and reducing carbon emissions.

NextSource Materials Inc. announces significant progress at the Molo Graphite Mine in Madagascar, with construction teams mobilized and civil works underway. The Phase 1 processing plant can process 240,000 tpa of ore, producing 17,000 tpa of SuperFlake® graphite concentrate, expected to be delivered in Q2 2022 and commissioned in Q3 2022. The updated Phase 2 Preliminary Economic Assessment (PEA) indicates a pre-tax NPV of US$904.8 million and an IRR of 40.4%. A feasibility study for the Phase 2 expansion is set to begin, aiming for enhanced production capabilities.

NextSource Materials (NSRCF) announced a Preliminary Economic Assessment (PEA) for a Phase 2 expansion of its Molo Graphite Mine in Madagascar. This enhancement aims for a processing capacity of 150,000 tonnes per annum (tpa) of flake graphite over a 26-year lifespan. The PEA estimates capital costs at US$155.8 million, projecting a pre-tax NPV of US$929.6 million and an IRR of 41.1%. The CEO highlighted the project’s potential to meet rising flake graphite demand for electric vehicle batteries. The company is also assessing the feasibility of a battery anode facility to further enhance its supply chain.

NextSource Materials Inc. has successfully completed Factory Acceptance Testing (FAT) for the Molo Graphite Mine Processing Plant, with an annual processing capacity of 240,000 tons and production of 17,000 tons of SuperFlake® graphite concentrate. This milestone allows the company to proceed with transportation and installation at the mine site. Phase 1 is fully funded and aims to be one of the few graphite mines operating outside of China. The company is focused on site works and commissioning in 2022.

NextSource Materials has completed the fabrication and assembly of the Processing Plant for Phase 1 of the Molo Graphite Mine. Located offshore, the plant will process 240,000 tpa of ore, yielding approximately 17,000 tpa of high-quality SuperFlake® graphite concentrate. Factory Acceptance Testing (FAT) has begun, ensuring all operations meet specified requirements. With full funding secured, the plant is slated for delivery by the end of Q1 2022 and commissioning in Q2 2022, establishing Molo as a significant graphite source outside China.

NextSource Materials Inc. held its Annual and Special Meeting of Shareholders on December 6, 2021, with 52.2% of outstanding shares represented. Key outcomes included the election of directors with support exceeding 99% for nominees like Sir Mick Davis and Craig Scherba. Shareholders also approved the re-appointment of MNP LLP as auditors for the fiscal year ending June 30, 2022, receiving 98.2% approval. NextSource is focused on developing its Molo graphite project in Madagascar, which is one of the largest known graphite deposits globally.

NextSource Materials announces a 20-year power supply contract with CrossBoundary Energy for its Molo graphite mine in Madagascar. The contract enables a hybrid energy power plant combining a 2.5MW solar PV system, a 1MWh battery storage, and a 3.3MW thermal system. This initiative will supply one-third of the mine's electricity from renewable sources, enhancing cost savings and sustainability. The plant aims to operate alongside the mine's commissioning set for Q2 2022, marking a significant step in NextSource's commitment to reducing emissions and enabling a carbon-neutral operation.

NextSource Materials Inc. has signed an Enhanced Collaboration Agreement with key partners within the Tesla supply chain to integrate a proprietary graphite coating process into its battery anode facility. This collaboration will enable NextSource to produce coated spheronized and purified graphite (CSPG) anode material, which is in high demand for electric vehicle batteries. The partnership provides exclusive intellectual property and aims to establish NextSource as a significant supplier, leveraging its Molo SuperFlake® graphite. The facility is expected to be operational within 12 months post-production decision.

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) plans to enhance its organic growth strategy through potential acquisitions in metals and minerals relevant to clean energy technologies. Following discussions with existing offtake partners, NextSource aims to secure additional graphite and critical mineral capacity. The company’s projects, including the Molo graphite and Green Giant vanadium, are progressing on schedule. Management emphasizes the growing demand for battery materials, positioning NextSource to capitalize on emerging opportunities.