NextSource Materials to explore other strategic asset opportunities in clean energy materials
NextSource Materials Inc. announces that it intends to assess emerging opportunities to accelerate the expansion of its organic growth strategy through the potential acquisition and development of additional metal and mineral assets that are expected to play a role vital in associated clean energy technologies As a result of recent discussions with the Company’s existing drawdown partners in graphite, many of which are significant…
NextSource Materials Inc. (TSX: NEXT) (OTCQB: NSRCF) (“NextSource” or the “Company”) announces that it intends to assess emerging opportunities to accelerate the expansion of its organic growth strategy through to the potential acquisition and development of metals and mineral assets are expected to play a vital role in associated clean energy technologies
Following recent discussions with the company’s existing graphite picking partners, many of whom are significant participants in the global supply and trade of battery materials, NextSource is clearly excited about securing a capacity added in graphite and other essential minerals.
NextSource management will hold further meetings with its direct debit partners and other strategic parties in September to discuss how best to create additional value in complementary products by leveraging NextSource’s growing capabilities and network.
NextSource’s current graphite and vanadium core product portfolio is already strongly aligned with anticipated demand for electric vehicles and large-scale energy storage systems, providing an ideal platform to expand further in the chain. critical mineral supply.
In recent months, since the finalization of Vision Blue’s investment in NextSource, a close working relationship has developed between the two companies and their management teams. As a result, the two companies recognized the potential for increased collaboration and mutual benefit throughout the cycle of asset valuation, investment and development. Vision Blue is the largest shareholder of NextSource and is a private investment firm focused on metals and minerals linked to the clean energy revolution.
As previously announced, the Company’s Molo graphite and Green Giant vanadium projects continue to progress with; i) start of a metallurgical optimization study of the vanadium asset; and ii) construction of the Molo mine in Madagascar on track and on budget for commissioning in mid-2022.
In addition, NextSource is now accelerating the completion of engineering studies already underway for the expansion of Phase 2 of the Molo graphite mine (“Project Molo”) and for its stand-alone installation of battery anodes in which to add more. value to its SuperFlake® focus.
Craig Scherba, CEO of NextSource Materials, commented:
“Achieving our vision of building a company capable of providing the next source of minerals essential to fuel the clean energy revolution requires clear and timely communication with all stakeholders and strategic partners.
It is evident that the battery materials market is poised for significant growth and NextSource is well positioned to seize this opportunity. The next step is a more in-depth discussion with our off-take partners, global EV OEMs and other strategic parties who have approached NextSource as a potential supplier to fully seize the value creation opportunities by leveraging the platform that we have already established.
Our technical teams continue to make excellent progress in the construction of phase 1 of the Molo project. We are now accelerating technical studies for Phase 2 of the Molo mine and our battery anode plant planned to meet the expected and growing demand from OEMs for a sustainable source from which they can secure a supply of high quality graphite.
About NextSource Materials Inc.
NextSource Materials Inc. is a strategic materials development company based in Toronto, Canada, which intends to become a fully integrated global supplier of critical batteries and technological materials needed to power the sustainable energy revolution.
The Company’s Molo graphite project in Madagascar is one of the largest known and highest quality graphite deposits in the world, and the only one with SuperFlake® graphite. Construction of phase 1 of the Molo project is underway and commissioning is scheduled for the second quarter of 2022.
NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol “NEXT” and on the OTCQB under the symbol “NSRCF”.
For more information on NextSource, visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at [email protected] or Craig Scherba, President and CEO at [email protected]
About VISION BLUE RESOURCES LIMITED
Vision Blue was founded in December 2020 by Sir Mick Davis to identify and seize opportunities for the development of metallic and mineral assets linked to the clean energy revolution.
Vision Blue targets companies located in established mining jurisdictions, with well-advanced and best-in-class assets that are scalable and can be put into production quickly. Vision Blue aims to work with existing management teams to provide essential growth capital, technical support, support in strategy implementation and experience in securing future funding. Where possible, Vision Blue uses a staged development approach based on self-funded expansion to generate large-scale revenue and cash flow across the vertical battery materials supply chain. For more information about Vision Blue, visit their website at www.vision-blue.com.
Safe Harbor: This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws in Canada and the United States. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information are frequently characterized by words such as “plan”, “expect”, “plan”, “intend”, “believe”, “anticipate”, “estimate”, “, words or statements that certain events or conditions “may”, “will”, “could” or “should” occur. Forward-looking statements include any statement concerning, among others; the successful and on-budget construction of the Molo Graphite mine, the estimated future production of the Molo Graphite project, the joint venture or strategic partnership agreement with Vision Blue, the completion of all engineering studies and the expansion of the Molo project Graphite, all other and technical studies, graphite prices, project economics, permits, development schedule and graphite market. All of these forward-looking statements are based on assumptions and analyzes made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they deem appropriate in the future. circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated, including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by authorities; failure by other parties to comply with the agreed performance; social or work unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and planned studies to produce anticipated results or results which would justify and support further studies, development or operations. Although the forward-looking statements contained in this press release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.
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