Nextsource - NSRCF STOCK NEWS

NextSource Materials Inc. has been accepted as a member of the European Battery Alliance (EBA) and the European Raw Materials Alliance (ERMA). This membership supports its strategy to become a major producer of graphite and battery anode materials for the electric vehicle sector. The company is set to collaborate with European stakeholders to ensure a sustainable supply of high-quality graphite. Moreover, the Molo graphite mine is on track for commissioning in Q2 2022, poised to serve the European market with significant planned production increases.

NextSource Materials has appointed Ian Pearce, former CEO of Xstrata Nickel, to its Board of Directors effective July 14, 2021. With over 40 years in mining, Pearce brings a wealth of experience, especially in mine construction and ESG aspects. He joins as the company gears up for the Molo mine's commissioning in April 2022 and advances its lithium-ion battery anode facility, part of a partnership in the Tesla supply chain. Dr. David McNeely resigns to allow Pearce's appointment but will remain as a consultant.

NextSource Materials has successfully closed a US$8.0 million installment of a US$11.0 million royalty financing arrangement with Vision Blue Resources to support its Molo Graphite Project. This funding is part of a larger strategic investment of US$29.5 million by Vision Blue. The financing will fully fund Phase 1 of the Molo mine's construction and technical studies for future expansion. Construction commenced on May 11, 2021, with operations expected to progress into 2022.

NextSource Materials Inc. (OTCQB:NSRCF) has initiated a technical study for a Phase 2 production capacity of 150,000 tonnes per annum of SuperFlake® graphite at the Molo Graphite Mine in Madagascar, significantly up from 45,000 tpa. This expansion is driven by discussions with offtake partners and aims to enhance project economics for the battery materials sector. Cormark Securities has also begun coverage of the company. Key milestones include securing US$29.5 million funding, initiating Phase 1 construction, and a long-term partnership with thyssenkrupp for graphite supply.

NextSource Materials Inc. (OTCQB:NSRCF) announced a long-term offtake agreement with thyssenkrupp Materials Trading for its SuperFlake® graphite products. The 10-year deal involves the sale of approximately 35,000 tonnes per annum from the Molo mine in Madagascar, with initial production set for April 2022. The agreement will phase in a minimum of 7,300 tpa initially, expanding to full capacity by Q2 2024. This partnership is crucial for NextSource's strategy to enhance its graphite market share and leverage thyssenkrupp's global distribution network.

NextSource Materials Inc. (OTCQB:NSRCF) has successfully closed its second private placement with Vision Blue Resources, raising approximately US$12.4 million through the issuance of 232,142,857 units at C$0.07 each. This investment is part of a larger US$29.5 million agreement aimed at funding Phase One construction of the Molo Graphite Project in Madagascar. Construction is expected to take 12 months, with commissioning targeted for April 2022. Vision Blue now holds around 36.3% of NextSource's shares on a non-diluted basis.

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.