NextSource Materials Announces Preliminary Economic Assessment for a Mine Expansion of 150,000 Tonnes per Annum of SuperFlake Graphite Concentrate

NextSource Materials Announces Preliminary Economic Assessment for a Mine Expansion of 150,000 Tonnes per Annum of SuperFlake Graphite Concentrate

NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) ("NextSource" or "the Company") is pleased to announce the results of a Preliminary Economic Assessment ("PEA") for an enhanced Phase 2 expansion of its 100%-owned Molo Graphite Mine Project in southern Madagascar

The PEA considered an enhanced Phase 2 expansion consisting of a stand-alone processing plant with a production capacity of 150,000 tonnes per annum ("tpa") of flake graphite concentrate over a 26-year life of mine ("LOM"). The PEA projects that the capital costs to construct 150,000 tpa of processing capacity would be US$155.8 million with a pre-tax NPV utilizing an 8% discount rate of US$929.6 million and a pre-tax IRR of 41.1%.

The PEA assumed the Phase 2 processing plant will be built adjacent to the 17,000 tpa Phase 1 processing plant, currently under construction.

Craig Scherba, P.Geo., President and CEO of NextSource commented,

"We are very pleased the PEA defines the strong financial returns of a larger scale operation and significant scalability of our project as market demand for flake graphite for use in electric vehicle batteries is rising. A Phase 2 expansion of this magnitude will position NextSource as a major global supplier and will underpin our vertical integration strategy to construct our own battery anode facility in due course, enabling direct supply to the electric vehicle battery market."

The PEA was prepared by Erudite Strategies Ltd. ("Erudite") of South Africa, an independent engineering and consulting firm specializing in the mining and processing of commodities and battery materials.

The Company cautions that the PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability and there is no certainty that the PEA will be realized.

PEA RESULTS SUMMARY

The following summary highlights the financial metrics provided in the PEA:

Description

Preliminary Economic Assessment

(150k tpa)

Economic Highlights
Pre-tax Net Present Value ("NPV") (8% discount rate) (1)(2)US$929.6 million
Post-tax and royalty NPV (8% discount rate) (1)(2)(3)US$612.6 million
Pre-tax Internal Rate of Return ("IRR") (1)(2)(3)(4)41.1%
Post-tax and royalty IRR (1)(2)(3)(4)32.0%
Life of Mine ("LOM")26 years
Annual average production of SuperFlake® graphite concentrate(5)(6)150,000 tonnes
Payback (Pre-tax) (1)(2)(3)(4)3.1 years
Payback (Post-tax and royalty) (1)(2)(3)(4)3.7 years
Capital cost ("Capex") (including a contingency of $31.96 million)US$155.8 million
Operating Costs FOB ("Opex") (per tonne of concentrate following ramp-up) (7)US$479.03
Average sale price of SuperFlake® concentrate (US$/tonne) (8)US$1,231
Operational Highlights
Average material mined per annum over LOM2,532,345
Average Head Grade6.16%
Concentrate purity (Cg) of finished product97%
Average Stripping ratio over LOM0.8:1
Average carbon recovery88.30%

(1) Assumes Project is financed with 100% equity. Unless otherwise noted, all monetary figures presented throughout this press release are expressed in US dollars (USD).
(2) CAPEX includes process equipment, civil & infrastructure, mining, buildings, electrical infrastructure, project & construction services. Values shown are based on real graphite sales pricing.
(3) Assumes 5% revenue and 1.5% NSR royalty payments.
(4) Assumes no inflationary adjustments in sales price or operating costs.
(5) Assumes all mineralized material from the Company's 2019 Feasibility Study, including ore from the Measured, Indicated and Inferred Mineral Resource categories, are sent to the treatment plant.
(6) Assumes a cut-off grade of 4.5% carbon has been applied, with all material below this cut-off grade treated as waste.
(7) Assumes all concentrate will be sold on a FOB basis at the Port of Ehoala, Madagascar.
(8) Assumes a 2% increase in the sales price reported in the Company's 2019 Feasibility Study (i.e. $1208/tonne), based on current market prices provided by UK-based commodity price reporting agencies Benchmark Minerals Intelligence and Fastmarkets.

CAPEX SUMMARY

Estimate Summary

Cost

%

Mechanical equipmentUS$24.0 million

15%

Structural steelUS$2.6 million

2%

Piping and valvesUS$2.1 million

1%

Freight and transportUS$6.6 million

4%

Electrical and instrumentationUS$7.9 million

5%

Sub-total supply itemsUS$43.2 million

28%

Engineering and managementUS$14.4 million

9%

Civil constructionUS$24.5 million

16%

InfrastructureUS$36.2 million

23%

Mechanical erectionUS$0.1 million

0%

Preliminary and generalUS$4.7 million

3%

Electrical erectionUS$0.8 million

0%

Sub-total non-supply itemsUS$80.7 million

52%

ContingencyUS$32.0 million

21%

Total Estimated CAPEXUS$155.8 million

100%

OPEX SUMMARY

Based on discussions with off takers, their preference is to purchase Molo graphite concentrate at the local Madagascar port at freight on board (FOB) China prices. As such, Operating costs ("OPEX") include the all-in FOB cost to ship the graphite concentrate to the local port of Ehoala.

Estimate Summary

Cost

Mining (US$/tonne)

$145.88

Processing (US$/tonne)

$190.15

Transport to Port of Fort Dauphin (US$/tonne)

$133.00

General and admin (US$/tonne)

$10.00

Total OPEX

$479.03

MINERAL RESOURCES

The Molo project hosts the following mineral resources and remains open along strike and to depth:

  • Measured mineral resource of 23.62 MT grading 6.32% C.
  • Indicated mineral resource of 76.75 MT grading 6.25% C.
  • Inferred mineral resource of 40.91 MT at 5.78% C.
Classification

Material Type

Tonnes

%C (Carbon)

Graphite

(Tonnes)

Measured"Low Grade"

13 048 373

4.64

605 082

Measured"High Grade"

10 573 137

8.4

887 835

Total Measured

23 621 510

6.32

1 492 916

Indicated"Low Grade"

39 539 403

4.73

1 871 075

Indicated"High Grade"

37 206 550

7.86

2 925 266

Total Indicated

76 745 953

6.25

4 796 341

Measured + Indicated"Low Grade"

52 587 776

4.71

2 476 157

Measured + Indicated"High Grade"

47 779 687

7.98

3 813 101

Total Measured + Indicated

100 367 464

6.27

6 289 257

Inferred"Low Grade"

24 233 267

4.46

1 080 677

Inferred"High Grade"

16 681 453

7.70

1 285 039

Total Inferred

40 914 721

5.78

2 365 716

C% = carbon percentage ; Graphite Tonnes = tonnes of graphite concentrate

(1) Mineral Resources are classified according to the Canadian Institute of Mining definitions.
(2) Mineral Resources are reported Inclusive of Mineral Reserves.
(3) "Low Grade" Resources are stated at a cut-off grade of 2% C.
(4) "High grade" Resources are stated at a cut-off grade of 4% C.
(5) Eastern and Western high-grade assays are capped at 15% C.
(6) A relative density of 2.36 tonnes per cubic metre (t/m3) was assigned to the mineralized zones for the mineral resource tonnage estimation.
(7) The effective date of the Mineral Resource tabulation above is August 14, 2014.
(8) Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

METALLURGY & PRICING

The PEA is based on a full suite of metallurgical test work performed by SGS Canada Metallurgical Services Inc. in Lakefield, Ontario, Canada. These tests included lab and bench scale process development work, a bulk sample/pilot plant program, and metallurgical variability testing. The overall graphitic carbon recovery into the final concentrate is 88.3%.

Metallurgical Data - Flake Size Distribution and Product Grade

Product Size% DistributionProduct Grade (% Carbon)
+48 mesh (jumbo flake)23.696.9
+65 mesh (coarse flake)14.697.1
+80 mesh (large flake)8.297.0
+100 mesh (medium flake)6.997.2
+150 mesh (medium flake)15.597.3
+200 mesh (small flake)10.198.1
-200 mesh (fine flake)21.197.5

Pricing Matrix - Flake Size Distribution Grouping and Product Grade

Product Size% DistributionProduct Grade (% Carbon)
>50 mesh23.696.9
-50 to +80 mesh22.797.1
-80 to +100 mesh6.997.2
-100 mesh46.897.6

The selling price used in the PEA is the volume weighted average sales price for the various flake sizes and grades of SuperFlake® graphite concentrate that are expected to be produced from the Molo deposit. Prices used are based on current market prices provided by UK-based, commodity price reporting agencies Benchmark Minerals Intelligence and Fastmarkets, who are recognized as leaders in providing independent and unbiased market research, pricing trends and demand and supply analyses for the natural flake graphite market.

No price escalation for graphite sales prices into the future was applied to the PEA model. Current market prices were used and flatlined over the life of mine. No pricing premium for valued-added applications was applied on any sales. Furthermore, no financial or operational calculations and/or scenarios in the PEA financial model with regards to downstream value-added processing of SuperFlake® graphite concentrate were included. This includes purification, spherodization coating for battery-grade graphite and thermal expansion for specialty graphite applications, such as foils.

Battery Anode Facility

The PEA's enhanced Phase 2 capacity was determined based on discussions with automotive manufacturers ("OEMs") and our battery anode offtake partners. The Company and the battery anode offtake partners are evaluating construction of a battery anode facility ("BAF"), capable of converting flake graphite concentrate from any qualified mine into spheronized and purified graphite ("SPG") and into coated SPG ("CSPG"). CSPG is the final form of natural graphite required to manufacture lithium-ion batteries required by OEMs. As announced on November 15th, 2021, the Company initiated a technical study to determine the capital and operating costs for our first BAF and is considering several proposed locations.

Based on recent discussions with OEMs and our battery anode offtake partners, the Company expects demand for CSPG to experience significant growth. For example, a single mid-sized OEM's 7-year demand forecast would require NextSource to construct a BAF with a CSPG production capacity of 58,000 tpa. Since it takes 2.2 tonnes of flake graphite to produce 1 tonne of CSPG, the majority of Phase 2 production capacity would be dedicated to supply the BAF for such a single mid-sized OEM.

Molo PHASE 1 Construction and Commissioning Update

On January 11, 2022, the Company announced the Molo Phase 1 processing plant (the "Processing Plant"), which was fully fabricated and constructed at an offshore facility, had successfully passed Factory Acceptance Testing and final verification. The Processing Plant has since been dismantled, packaged and is now ready to be shipped to the mine site.

Due to Madagascar's ongoing COVID-19 travel restrictions, and recent cyclone activity impacting the eastern seaboard of the country, the commencement of earthworks and civil work at the mine site has been delayed and commissioning of the Molo Phase 1 process plant is now targeted for Q3, 2022.

Phase 1 of the Molo Graphite Mine is fully funded and when commissioned, Molo will become one of the few operating graphite mines outside of China.

The Company has not yet made a production decision in respect of Phase 2. The Company expects that it will assess the results of a definitive feasibility study before making a production decision in respect of Phase 2.

TECHNICAL REPORT FILING

This PEA technical report will be filed under the Company's profile on SEDAR at www.sedar.com and will be posted on NextSource's website at www.nextsourcematerials.com within 45 days of this new release.

Data verification programs have included review of QA/QC data, re-sampling and sample analysis programs, and database verification. Validation checks were performed on data, and comprise checks on surveys, collar co-ordinates and assay data. Sufficient verification checks were undertaken on the database to provide confidence that the database is appropriate to support the technical information contained herein.

QUALIFIED PERSONS

The PEA was prepared in accordance with National Instrument 43-101 standards by Mr. Johann de Bruin, Pr. Eng, of Erudite Strategies. Mr. de Bruin is the Qualified Person who verified the technical data using industry acceptable standards and signed off on the relevant sections in the report to be filed on SEDAR.

Mr. Craig Scherba, P.Geo., President and CEO of NextSource, is the qualified person who reviewed and approved the technical information provided in this press release.

ABOUT NextSource Materials INC.

NextSource Materials Inc. is a strategic materials development company based in Toronto, Canada that is intent on becoming a fully integrated, global supplier of critical battery and technology 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 globally, and the only one with SuperFlake® graphite. Construction of Phase 1 of the Molo Project is underway, with commissioning expected in Q3, 2022.

NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol "NEXT" and on the OTCQB under the symbol "NSRCF".

To learn more, please visit the Company's website at www.nextsourcematerials.com or email investor relations at info@nextsourcematerials.com

For further information contact: +1.416.364.4911

Brent Nykoliation, Executive Vice President, Corporate Development at brent@nextsourcematerials.com or Craig Scherba, President and CEO at craig@nextsourcematerials.com

Safe Harbour: This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. 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", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements include any statements regarding, among others; regarding the results of the PEA for Phase 2 expansion, collaboration agreements to build a value-added CSPG (anode) facility, time to commissioning the Molo Phase 1 and the BAF, the demand for EVs, demand for CSPG, the use of SuperFlake®, successful and on-budget construction of the Molo Graphite Project, CSPG plant and BAF, sourcing the funds needed to construct the BAF, , estimated future production, capex and opex from the Molo Graphite Project (for Phase 1 and Phase 2), completion of the study relating to the BAF, and the continuation of the supply relationships of the Partners. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news 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 news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE:NextSource Materials Inc.



View source version on accesswire.com:
https://www.accesswire.com/690610/NextSource-Materials-Announces-Preliminary-Economic-Assessment-for-a-Mine-Expansion-of-150000-Tonnes-per-Annum-of-SuperFlakeR-Graphite-Concentrate

News Provided by ACCESSWIRE via QuoteMedia

NEXT:CA
NextSource Materials

NextSource Materials Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
NextSource Materials

NextSource Materials


Keep reading...Show less
NextSource Materials Provides Update on Molo Graphite Mine Commissioning

NextSource Materials Provides Update on Molo Graphite Mine Commissioning

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or "the Company") announces an update on the commissioning process at its Molo Graphite Mine ("Molo mine") in southern Madagascar

Since announcing first graphite production in June 2023, the Company has progressed methodically through debottlenecking and optimization activities to achieve the plant nameplate capacity of 17,000 tonnes per annum of SuperFlake® graphite concentrate.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NextSource Materials Announces Robust Feasibility Study Results for Molo Mine Expansion to 150,000 Tonnes per Annum of SuperFlake Graphite Concentrate

NextSource Materials Announces Robust Feasibility Study Results for Molo Mine Expansion to 150,000 Tonnes per Annum of SuperFlake Graphite Concentrate

Highlights

  • Feasibility Study confirms highly attractive economics for a large-scale expansion of the Molo Mine and processing facility to a steady-state production rate of 150,000 tpa of graphite concentrate
  • Estimated capital cost of US$161.7 million (including contingency), with pre-tax NPV8 of US$424.1 million and a pre-tax IRR of 31.1%
  • Expansion significantly de-risked through application of NextSource's all-modular construction approach and sharing of infrastructure with existing operations
  • Discussions with OEMs and battery manufacturers indicate robust demand for the Company's product

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or "the Company") is pleased to announce the results of a Feasibility Study (the "FS") for a mine expansion of its 100%-owned Molo Graphite Mine in southern Madagascar

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NextSource Announces Appointment of Martina Buchhauser to the Board and Results of 2023 Annual and Special Meeting of Shareholders

NextSource Announces Appointment of Martina Buchhauser to the Board and Results of 2023 Annual and Special Meeting of Shareholders

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce the appointment of Ms. Martina Buchhauser to the Board of Directors and results of the Annual and Special Meeting of Shareholders (the "Meeting") held virtually at 9:00 AM Toronto, Ontario, Canada on December 5, 2023

Ms. Buchhauser is a global leader with a profound knowledge of the automotive industry and its shift towards new and sustainable technologies and the imperative for a responsible and low carbon business. Her leadership journey has encompassed executive roles in Global Procurement and Supply Chain Networks at General Motors, MAN, BMW, and Volvo Cars, where she until recently served as the Chief Procurement Officer and on the management board. She is a senior advisor of H&Z Management Consulting and is a non-executive director on several company boards.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NextSource Announces Appointment of Johnny Velloza as Interim Chief Operating Officer

NextSource Announces Appointment of Johnny Velloza as Interim Chief Operating Officer

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces that Mr Robin Borley has resigned as Chief Operating Officer of the Company. NextSource is pleased to announce it has appointed Mr Johnny Velloza as Chief Operating Officer on an interim basis

Mr. Velloza has a wealth of technical and operating experience in the mining industry spanning 30 years during which he managed operational optimisation processes and large capital expansions across a range of commodities and in many jurisdictions. Mr. Velloza was previously Deputy CEO and COO of Gem Diamonds and CEO of Chemaf. Prior to this, he was with BHP Western Australia Iron Ore where, from 2013 to 2015, he was General Manager at Mining Area C, the largest iron ore mine in the BHP portfolio, leading a number of successful operational efficiency programs. He also acted as a Senior Exploration Manager in Zambia and in Chile for BHP from 2011-2013, Operations Manager at AngloGold Ashanti from 2009-2010 and held numerous managerial positions at De Beers from 2001-2009. Mr Velloza holds a Bachelor's degree in Mining Engineering from The University of Johannesburg and a Bachelor's degree in Business from The University of South Africa.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NextSource Materials Announces First Bulk Shipment of SuperFlake and Full Operation of its Solar Hybrid Plant at Molo Graphite Mine

NextSource Materials Announces First Bulk Shipment of SuperFlake and Full Operation of its Solar Hybrid Plant at Molo Graphite Mine

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce it has made its first bulk container shipment of SuperFlake® graphite from the Company's Molo Mine ("Molo") in Madagascar

This first shipment of Molo SuperFlake® graphite has been sent to the Company's downstream technical partner's Battery Anode Facility (BAF) to be processed into spheronized, purified graphite (SPG) that will then be further processed into coated SPG (CSPG) as part of large scale, multi-step verification tests being conducted by automotive EV supply chains in South Korea and Japan. The Company expects to receive its first series of verification test results starting in December 2023.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Altech Batteries

Analyst Firm Cites Altech’s ‘Revolutionary’ Battery Tech as Basis for Valuation Upside

Description:

Australian analyst firm East Coast Research has given Altech Batteries (ASX:ATC,FRA:A3Y) a valuation range of AU$0.15 to AU$0.21 cents per share, a 188.8 percent upside from its current share price of $0.06 cents. This is based on Altech’s highly promising Silumina Anodes battery technology project.

Keep reading...Show less

MASON RESOURCES CONGRATULATES NOUVEAU MONDE GRAPHITE FOR GROUNDBREAKING ANNOUNCEMENTS SECURING OFFTAKES WITH PANASONIC ENERGY AND GM ALONG WITH STRATEGIC FINANCINGS

Mason Resources Inc. (" Mason ") (TSXV: LLG) (OTCQX: MGPHF) congratulates Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSXV: NOU) on its truly groundbreaking milestones, securing unprecedented binding offtake agreements with both Panasonic Energy and GM, as well as securing strategic financings. Mason is proud to be a 9.25% strategic shareholder of NMG (see press release dated January 22, 2024 ).

Mason Graphite Inc. Logo (CNW Group/Mason Resources Inc.)

The three (3) press releases issued earlier today can be found on NMG's website at the following:

NMG Announces Offtake Agreement with GM for Canadian Graphite and US$150 Million Equity Investment:

https://nmg.com/binding-offtake-gm/

NMG and Panasonic Energy Announce Binding Offtake Agreement and US$25 Million Private Placement to Secure the Supply of Active Anode Material for North American Battery Production

https://nmg.com/binding-offtake-panasonic/

NMG Secures Multiyear Offtakes and total US$87.5 Million Investment from Anchor Customers and Strategic Investors to Underpin its Phase 2 Ore-to-Battery-Material Graphite Operations

https://nmg.com/private-investment-offtake/

About Mason Resources Inc.

Mason Resources Inc. is a Canadian corporation focused on seeking investment opportunities. Mason currently owns 9.25% of NMG and is the largest shareholder (39%) of Black Swan Graphene Inc. (" Black Swan ") (TSX.V: SWAN) (OTCQB: BSWGF) focusing on the large-scale production of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete and polymers, which are expected to require large volumes of graphene and, in turn, large volumes of graphite. Black Swan aims at leveraging Québec's emerging graphite industry to establish an integrated supply chain. In 2023, Black Swan, Nationwide Engineering Research & Development Ltd., and Arup Group Ltd. announced strategic partnerships and, in 2024, Black Swan announced a commercial agreement with Hubron International Ltd. Black Swan's graphene processing technology was developed over the span of a decade by Thomas Swan & Co. Ltd., a United Kingdom -based global chemicals manufacturer, with a century-long track record.

For more information: www.masonresourcesinc.com and www.blackswangraphene.com .

About Nouveau Monde Graphite

Nouveau Monde Graphite is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada , for the growing lithium-ion and fuel cell markets. With enviable ESG standards, NMG aspires to become a strategic supplier to the world's leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability.

For more information: www.NMG.com

Mason Resources Inc. on behalf of the Board of Directors
Peter Damouni , President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/mason-resources-congratulates-nouveau-monde-graphite-for-groundbreaking-announcements-securing-offtakes-with-panasonic-energy-and-gm-along-with-strategic-financings-302063314.html

SOURCE Mason Resources Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/15/c9792.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

NMG Announces Offtake Agreement with GM for Canadian Graphite and US$150 Million Equity Investment

NMG is Developing What is Projected to Be the First Fully Integrated Source of Natural Graphite Active Anode Material in North America

+ NMG and GM have agreed to sign a multiyear supply agreement for 18,000 tonnes per annum of active anode material, covering a significant portion of NMG's expected Phase-2 integrated production, from graphite ore to battery materials.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

NMG Announces Offtake Agreement with GM for Canadian Graphite and US$150 Million Equity Investment

NMG is Developing What is Projected to Be the First Fully Integrated Source of Natural Graphite Active Anode Material in North America

+ NMG and GM have agreed to sign a multiyear supply agreement for 18,000 tonnes per annum of active anode material, covering a significant portion of NMG's expected Phase-2 integrated production, from graphite ore to battery materials.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

NMG Secures Multiyear Offtakes and total US$87.5 Million Investment from Anchor Customers and Strategic Investors to Underpin its Phase 2 Ore-to-Battery-Material Graphite Operations

  • Panasonic Energy and GM (together, the "Anchor Customers") concurrently commit to multiyear offtake agreements for NMG's active anode material, covering approximately 85% of NMG's planned Phase-2 fully integrated production, from ore to battery materials.
  • Offtake agreements are complemented by an aggregate US$50 million Tranche 1 Investment from Panasonic and GM to advance the development of NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant as per their respective specifications.
  • Strategic partner Mitsui and long-time investor Pallinghurst inject a total of US$37.5 million into NMG's development, the aggregate proceeds of which will be used to repurchase their previously announced convertible notes.
  • Offtake agreements and investments support NMG's execution plan for its Phase-2 Matawinie Mine and Bécancour Battery Material Plan, marking a significant milestone toward future funding by Anchor Customers of up to US$275 million, subject to certain conditions and a maximum ownership threshold agreed between the relevant parties.
  • Shareholders, analysts, and media are invited to attend an Investor Briefing today at 10:30 a.m. ET hosted by NMG's Management Team via webcast .

On the back of agreed-upon offtake agreements with Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") (TYO: 6752), and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE: GM ), Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) has rallied Mitsui & Co., Ltd ("Mitsui") (TYO: 8031) and Pallinghurst Bond Limited ("Pallinghurst") for an aggregate combined investment of US$87.5 million to advance its development toward commercial operations. Projected to become the first fully integrated natural graphite active anode material production of its kind in North America, NMG is set to provide a carbon-neutral, reliable, sizeable, and ESG-driven source of Canadian natural graphite for the local electric vehicle ("EV") and lithium-ion battery market.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

NMG Secures Multiyear Offtakes and total US$87.5 Million Investment from Anchor Customers and Strategic Investors to Underpin its Phase 2 Ore-to-Battery-Material Graphite Operations

  • Panasonic Energy and GM (together, the "Anchor Customers") concurrently commit to multiyear offtake agreements for NMG's active anode material, covering approximately 85% of NMG's planned Phase-2 fully integrated production, from ore to battery materials.
  • Offtake agreements are complemented by an aggregate US$50 million Tranche 1 Investment from Panasonic and GM to advance the development of NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant as per their respective specifications.
  • Strategic partner Mitsui and long-time investor Pallinghurst inject a total of US$37.5 million into NMG's development, the aggregate proceeds of which will be used to repurchase their previously announced convertible notes.
  • Offtake agreements and investments support NMG's execution plan for its Phase-2 Matawinie Mine and Bécancour Battery Material Plan, marking a significant milestone toward future funding by Anchor Customers of up to US$275 million, subject to certain conditions and a maximum ownership threshold agreed between the relevant parties.
  • Shareholders, analysts, and media are invited to attend an Investor Briefing today at 10:30 a.m. ET hosted by NMG's Management Team via webcast .

On the back of agreed-upon offtake agreements with Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") (TYO: 6752), and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE: GM ), Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) has rallied Mitsui & Co., Ltd ("Mitsui") (TYO: 8031) and Pallinghurst Bond Limited ("Pallinghurst") for an aggregate combined investment of US$87.5 million to advance its development toward commercial operations. Projected to become the first fully integrated natural graphite active anode material production of its kind in North America, NMG is set to provide a carbon-neutral, reliable, sizeable, and ESG-driven source of Canadian natural graphite for the local electric vehicle ("EV") and lithium-ion battery market.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
NextSource Materials

NextSource Materials Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×