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NextSource Materials Announces Results of 2022 Annual Meeting of Shareholders

NextSource Materials Announces Results of 2022 Annual Meeting of Shareholders

NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce the results of the Annual and Special Meeting of Shareholders (the "Meeting") held virtually at 10:00 AM Toronto, Ontario, Canada on December 5, 2022

The Board of Directors had fixed October 14, 2022 as the record date for the Meeting. There were 101,872,614 common shares outstanding and entitled to vote at the Meeting. A total of 50,199,686 common shares equivalent to 49.5% of the common shares entitled to vote at the Meeting were represented in person or by proxy. A total of 2,339,761 of the common shares represented by proxy were not voted.

The final voting results of the Meeting are set out below:

(1) Election of Directors. Each of the nominees were elected as directors to serve until the next annual meeting of shareholders, or until their respective successors are elected or appointed. The following table sets forth the voting results with respect to the election of directors:

Nominee

For

Against

Sir Mick Davis

99.5%

0.5%

Craig Scherba

98.9%

1.1%

Brett Whalen

98.6%

1.4%

Robin Borley

98.8%

1.2%

Christopher Kruba

99.1%

0.9%

Ian Pearce

99.1%

0.9%

(2) Appointment of MNP LLP. The Company's shareholders approved the re-appointment of MNP LLP, Chartered Professional Accountants, as the Company's auditors for the fiscal year ending June 30, 2023 and that the Board of Directors is authorized to fix their remuneration. The following table sets forth the voting results with respect to the re-appointment of MNP LLP:

For

Against

99.7%

0.3%

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 materials.

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

For further information about NextSource visit our website at www.nextsourcematerials.com or contact us a +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at brent@nextsourcematerials.com or Craig Scherba, President & CEO at craig@nextsourcematerials.com

SOURCE:NextSource Materials Inc.



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NextSource Materials

NextSource Materials

Overview

NextSource Materials: Construction of Molo Graphite Mine is Fully Funded; Production in Q4 2022

Vision Blue Resources Ltd, a newly created battery commodity/resource-focused investment company founded by Sir Mick Davis (former CEO of Xstrata Plc), made a significant strategic investment in NextSource Materials to fully fund the construction of its Molo graphite mine in Madagascar. Production is scheduled in Q4 2022.

According to UK’s Roskill Research, battery demand for raw material graphite is expected to grow by approximately 23 per year-over-year for the next decade. This dramatic spike in demand is due to graphite’s critical role as the anode material in lithium-ion batteries. Electric vehicle batteries contain between 60 to 90 kilograms of graphite per battery. By volume, graphite is the largest raw material in a lithium-ion battery. As the electric vehicle market continues to grow, investing in the companies that produce these valuable battery materials and have first-mover advantage can provide significant value-creation and exposure to this expanding market.

NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is entering production with its 100%-owned Molo Graphite Project in southern Madagascar in 2022. The Molo Graphite Project is a fully permitted and funded project that ranks as one of the largest and highest quality flake graphite deposits globally, and is the only project with SuperFlake® graphite.

The Company utilized an all-modular build approach when constructing the Molo mine. Initial production is 17,000 tonnes per annum (“tpa”) over the first two years of production followed by mine expansion in Year three of an additional 150,000 tpa. Offtakes are in place for more than 100% of initial Phase 1 production.

Graphite in Madagascar is renowned for its quality and flake size. For almost a century, Madagascar has been exporting flake graphite to the world but in limited quantities. Molo will catapult Madagascar to a top 5 graphite producing country. With its Green Giant vanadium project also within close proximity to the Molo project, NextSource Materials controls two very strategic sources of battery materials at one source.

For further information about NextSource visit our website at www.nextsourcematerials.com or contact us a +1.416.364.4911 or email Brent Nykoliation, Executive Vice President, Corporate Development at brent@nextsourcematerials.com or email Craig Scherba, President and CEO at craig@nextsourcematerials.com.
NextSource Materials

NextSource’s 100 percent owned and fully permitted Molo graphite project drew investor attention for its large-high-quality flake graphite deposit and unique SuperFlake graphite concentrate. The company announced in May 2021, that former Xstrata CEO Sir Mick Davis committed a strategic investment of US$29.5 million in NextSource mining operations. This investment provided the entire funding to bring the Molo Graphite mine into production.

Vision Blue Resources, the firm that Davis founded in December 2020 to invest in battery and technology minerals, selected the Molo graphite project as its flagship investment, noting that the graphite market has been underinvested considering the increasing demand in recent years. “This investment in NextSource underlines our belief that the massive secular change in demand for critical battery material resources is not being met by an appropriate supply-side response, largely as a result of capital constraints,” Davis stated.

The company utlized an all-modular build approach to construct the Molo mine. Phase one production will be approximately 17,000 tonnes per annum over the first two years with a phase two expansion on 150,000 additional tonnes in year three.

NextSource Materials
NextSource Materials

NextSource has also outlined a fully integrated supply chain plan to build a battery anode facility (BAF) to produce coated, spherical, purified graphite (CSPG). The company will be outlining its phase one BAF construction plans by the end of 2022. NextSource has a significant advantage over other projects attempting to produce anode material via its exclusive collaboration with one of Japan’s prominent producers of anode material to OEM supply chains.

In April 2021, the company finalized an exclusive partnership with a well-established and leading company that processes SPG for leading Japanese anode and battery makers, who in turn supply the Tesla supply chain and Toyota supply chains. The company has also executed an commercial offtake agreement with thyssenkrupp Materials Trading GmbH, an international trading and services company headquartered in Essen, Germany, for the sale of 35,000 tonnes per annum (tpa) of the SuperFlake® graphite products.

NextSource’s other highly prospective project, the Green Giant vanadium project in Madagascar, stands out for its sediment-hosted deposit profile, which is only seen in approximately 5 percent of total vanadium occurrences.

The company believes strongly in vanadium’s potential market growth with the popularization of VRBs as a leading technology for green energy applications. Since project acquisition in 2007, NextSource has spent over US$20 million on the exploration and development of the Green Giant.

NextSource’s management team and directors bring decades of professional mine development and capital markets expertise. Combined, NextSource has assembled an impressive team that has proven track record in mine operations and building shareholder value. This positions the company for significant growth and economic success as it strives to meet the world’s increasing demand for graphite.

Company Highlights

  • The Molo graphite project is a fully permitted and fund funded asset and will be the only graphite project to enter production in 2022 outside of China . The deposit ranks as one of the largest-known and highest quality flake graphite deposits in the world.
  • Vision Blue Resources, a fund headed up by Sir Mick Davis that invests in strategic battery materials, is NextSource’s largest shareholder.
  • The company’s Green Giant vanadium project is an advanced stage exploration project that is one of the world’s largest known vanadium deposits. The sediment-hosted geophysical profile of this vanadium deposit is well-suited for vanadium redox batteries, which are a leading battery technology for large scale energy storage applications.
  • Sir Mick Davis is NextSource’s chairman and this mining heavyweight brings years of valuable experience in mine development and financing expertise.
  • NextSource will complete a feasibility study in November 2022 for its Phase 2 expansion of an additional 150,000 tonnes in order to meet the significant forecasted demand for graphite. Phase 2 construction is expected to take 12 months to complete and construction can commence as soon as funding is in place.
  • NextSource is the only graphite company to have secured two long term offtakes with tier one partners. The first is for the sale of 20,000 tonnes per annum with a prominent Japanese trader that supplies the Tesla and Toyota battery supply chains, and the second is with thyssenkrupp Materials Trading for the sale of 35,000 tonnes per annum of SuperFlake® graphite concentrate.
  • NextSource has furthered strengthened its partnership with its Japanese partner through an exclusive collaboration to build battery anode facilities (BAF) to produce graphite anode material. Construction of its Phase 1 BAF is expected to commence in January 2023 with commissioning by end of 2023. The verification facility will produce spherical, purified graphite (SPG) and coated SPG (CSPG) using established processing expertise.

Key Projects

Molo Graphite Project

The Molo graphite project is a wholly owned feasibility-stage asset that ranks as one of the largest-known and highest quality flake graphite deposits in the world. The property is over 62.5 hectares, sits in the Tulear region of South-western Madagascar and is located 11.5 kilometers east of the town of Fotadrevo

Total combined graphite resources are measured at 141.28 million tonnes at 6.13 percent total graphitic carbon, with a contained ore reserve of 22.44 million tonnes at 7.02 percent graphitic carbon. The company has delinatined over 300 line kms of continuous graphite mineralization at surface. NextSource has virtually an unlimited supply of graphite it can bring to the market in lockstep with demand.

SuperFlake

NextSource has superior flake size distribution and well above the global average. The Molo asset is relatively unique for having almost 50 percent premium-priced large and jumbo flake graphite, and can achieve up to 98 percent carbon purity with simple flotation alone. Molo SuperFlake® has been verified by end-users and meets or exceeds all criteria for the top demand markets for flake graphite; anode material for lithium-ion batteries, refractories, graphite foils and graphene inks.

NextSource has completed a series of Feasibility Studies on the project since 2015, with an updated Feasibility Study for phase two mine expansion due this November.

For all details and assumptions relating to the parameters of the mineral resource, reserve estimates, and data verification procedures for phase one of the Molo Project, please see “Molo Feasibility Study, National Instrument 43-101 Technical Report on the Molo Graphite Project located near the village of Fotadrevo in the Province of Toliara, Madagascar Prepared by Erudite Strategies (Pty) Ltd” dated May 31, 2019.Green Giant Vanadium Project

The 100 percent owned Green Giant vanadium project is an advanced stage exploration project located in South-central Madagascar and is one of the world’s largest known vanadium deposits. The project leverages good mining conditions and convenient close proximity to NextSource’s flagship Molo graphite project.

The Green Giant Project is a rare type of vanadium deposit because it is sediment-hosted. No magnetic metals are associated with Green Giant’s vanadium, making the project ideal for producing high-purity vanadium pentoxide, a key material in vanadium redox batteries.

The property’s National Instrument 43-101 compliant resource measures an estimated 60 million tonnes of vanadium pentoxide at an average grade of almost 0.7 percent at a 0.5 percent cut-off.

Since 2008, Green Giant has seen extensive diamond drilling campaigns, soil sampling, airborne and ground geophysics and EM surveying. NextSource intends to continue developing the property’s three main zones, which are referred to as the Jaky, Manga and Mainty deposits.

Management Team

Craig Scherba, P.Geo. — President and CEO

Craig Scherba was appointed president and CEO in September 2012 and has been a director since January 2010. Previously, Scherba served as vice president, Exploration of the company, since January 2010. Prior, Scherba was a managing partner for six years with Taiga Consultants Ltd., a mining exploration consulting company. He has been a professional geologist since 2000, and his expertise includes supervising large Canadian and international exploration programs. Scherba was an integral member of the exploration team that developed Nevsun Resources’ high-grade gold, copper and zinc Bisha project in Eritrea. He served as the company’s country and exploration manager in Madagascar during its initial exploration stage, discovering both the Molo Graphite and the Green Giant Vanadium deposits.

Robin Borley, Pr. Tech Eng — Chief Operating Officer

Robin Borley is a Graduate mining engineering professional and a certified mine manager with more than 25 years of international mining experience building and operating mining ventures. He has held senior management positions both Internationally and within the South African mining industry. He has most recently served as mining director for DRA Mineral Projects and was instrumental as the COO of Red Island Minerals in developing a Madagascar coal venture.

His diverse career has spanned resource project management, evaluation, exploration and mine development. Robin has completed several mine evaluations, including operational and financial assessment of new and existing operations across various resource sectors. He has experience in managing underground and surface mining operations from both the contractor and owner-miner environments.

Brent Nykoliation, BCom (Hons) — Executive Vice President

Brent Nykoliation joined the senior management team at NextSource Materials as vice president, Corporate Development. In 2007, he oversaw all communication with analysts, institutional investors and strategic offtake partners for the company. He brings over 20 years of management experience, having held senior marketing and strategic development positions with several Fortune 500 corporations in Canada, notably Nestlé, Home Depot and Whirlpool. Nykoliation holds a Bachelor of Commerce with Honours degree from Queen’s University.

Marc Johnson, CFA, CPA — Chief Financial Officer

Marc Johnson is a bilingual senior executive with over 20 years of business experience, including ten years at public corporations as CFO, VP Corporate Development and other financial management positions, and ten years in capital markets in investment banking and equity research. Johnson is a Chartered Financial Analyst and a Chartered Professional Accountant and joined as CFO in October 2015. He also holds a Bachelor of Commerce (Finance) from the John Molson School of Business at Concordia University in Montreal.

Board of Directors

Sir Mick Davis — Chairman

Sir Mick Davis is the CEO of Vision Blue Resources and a highly successful mining executive accredited with building Xstrata plc into one of the largest mining companies in the world prior to its acquisition by Glencore plc. Before listing Xstrata on the LSE as CEO he was CFO of Billiton plc and Chairman of Billiton Coal which he joined from the position of Eskom CFO. During his career in mining he has raised over US$40bn from global capital markets and successfully completed over US$120bn of corporate transactions, including the creation of the Ingwe Coal Corporation in South Africa; the listing of Billiton on the LSE; the merger of BHP and Billiton; as well as numerous transactions at Xstrata culminating in the sale to Glencore plc. Sir Mick Davis is a Chartered Accountant by profession, and holds an honours degree in Commerce from Rhodes University, South Africa and an Honorary Doctorate from Bar Ilan University, Israel.

Craig Scherba, P.Geo. — President and CEO and Director

Craig Scherba was appointed president and CEO in September 2012 and has been a director since January 2010. Previously, Scherba served as vice president, Exploration of the company, since January 2010. Prior, Scherba was a managing partner for six years with Taiga Consultants Ltd., a mining exploration consulting company. He has been a professional geologist since 2000, and his expertise includes supervising large Canadian and international exploration programs. Scherba was an integral member of the exploration team that developed Nevsun Resources’ high-grade gold, copper and zinc Bisha project in Eritrea. He served as the company’s country and exploration manager in Madagascar during its initial exploration stage, discovering both the Molo Graphite and the Green Giant Vanadium deposits.

Robin Borley, Pr. Tech Eng — Chief Operating Officer/ Director

Robin Borley is a Graduate mining engineering professional and a certified mine manager with more than 25 years of international mining experience building and operating mining ventures. He has held senior management positions both Internationally and within the South African mining industry. He has most recently served as mining director for DRA Mineral Projects and was instrumental as the COO of Red Island Minerals in developing a Madagascar coal venture.

His diverse career has spanned resource project management, evaluation, exploration and mine development. Robin has completed several mine evaluations, including operational and financial assessment of new and existing operations across various resource sectors. He has experience in managing underground and surface mining operations from both the contractor and owner-miner environments.

Brett Whalen — Director (Non-executive)

Brett Whalen has over 20 years of investment banking and M&A expertise, spending over 16 of those years at Dundee Corporation. During his tenure at Dundee Corp., Whalen was directly involved in completing approximately $2 billion in M&A deals and helped raise over $10 billion in the capital for resource sector companies. While a vice president and portfolio manager of Goodman & Co., he oversaw the investment of $6 million into NextSource, enabling the company to achieve key technical milestones, notably the completion of its July 2017 Phase One Feasibility Study and the concept and design of the whole modular build approach NextSource will be utilized for construction of both Phase One and Phase Two of the Molo mine. Whalen has extensive knowledge of both graphite and vanadium and the general battery materials industry.

Whalen has held Board seats of several TSX-listed and privately held companies and holds a BA (Honours) degree in Economics and Finance from Wilfrid Laurier University.

Ian Pearce – Director (Non-executive)

Mr. Ian Pearce is the former CEO of Xstrata Nickel, and prior to that was the former COO of Falconbridge Limited, which was acquired by Xstrata Plc in 2006. Xstrata Plc’s acquisition of Falconbridge was one of the largest mining takeovers globally and one of the largest takeover bids in Canadian history. Mr. Pearce was also a founding partner of X2 Resources who, along with Sir Mick Davis, made up the team of six ex-Xstrata executives who formed the mid-tier diversified mining and metals company. He currently serves as a director for several global companies in the mining and metals, energy, and sustainability industries:

Mr. Pearce previously served as Chair of the Mining Association of Canada and Chair of the Nickel Institute. He holds a BSc from the University of the Witwatersrand, South Africa and an HNDT in Mineral Processing from the University of Johannesburg, South Africa.

Christopher Kruba — Director (Non-executive)

Mr. Kruba is Vice-President and Legal Counsel to Nostrum Capital Corporation and a number of related corporations that are part of the Toldo Group. The Toldo Group is headquartered in Windsor, Ontario and is composed of several privately held corporations in Canada and the United States, some of which have large manufacturing operations in diversified sectors and others which are involved in active and passive investments across capital markets throughout North America, Europe and Africa. In addition to his responsibilities as counsel to the Toldo Group, Mr. Kruba serves as corporate secretary to all the companies, is a member of group’s investment committee and he serves on the board of directors of many of the companies.

Mr. Kruba has extensive manufacturing and capital markets experience and has lead merges and acquisitions and participated in the management and strategic planning for numerous companies, including venture capital corporations in which the group has invested.

Nostrum Capital Corporation and Mr. Kruba personally have been investors in NextSource Materials Inc. since 2011.

NextSource Materials Announces Molo Mine Update, Management Appointments and Exercise of Warrants by Vision Blue Resources for Proceeds of US$16.9M

NextSource Materials Announces Molo Mine Update, Management Appointments and Exercise of Warrants by Vision Blue Resources for Proceeds of US$16.9M

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to provide an update on the development of its Molo Graphite Mine ("Molo mine") in Madagascar, management appointments and progress on its proposed Battery Anode Facility ("BAF") deployment plans

The Company also announces the early exercise by Vision Blue Resources Limited ("Vision Blue") of 23,214,286 warrants acquired in May 2021 (see the Company's press release on May 19, 2021) for aggregate proceeds to the Company of approximately US$16.9 million.

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NextSource Materials Provides Progress Update on Molo Graphite Mine in Madagascar

NextSource Materials Provides Progress Update on Molo Graphite Mine in Madagascar

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to provide a progress update for Phase 1 of the Molo Graphite Mine in Madagascar

The Processing Plant has arrived and been unloaded at the local port of Fort Dauphin in Madagascar and has cleared customs. Company-appointed logistics specialists have now commenced transporting all modules of the Processing Plant, including two mobile cranes, to the mine site. Earthworks at the mine site are complete and civil works are on schedule to be completed by the time the Processing Plant arrives.

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NextSource Materials Announces Solar and Battery Hybrid Power Plant Construction and Site Works Update

NextSource Materials Announces Solar and Battery Hybrid Power Plant Construction and Site Works Update

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to provide a site works update and to announce that a Madagascar subsidiary of CrossBoundary Energy ("CBE") has commenced the construction process for the solar and battery hybrid power plant for Phase 1 of the Molo Graphite Mine in Madagascar after the Company executed a definitive energy services agreement with CrossBoundary Energy's ("CBE") Madagascar subsidiary

Molo Mine Construction Update

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NextSource Materials Announces Initiation of Civil Works and Shipment of Buildings to the Molo Graphite Mine Site in Madagascar and Filing of Updated PEA

NextSource Materials Announces Initiation of Civil Works and Shipment of Buildings to the Molo Graphite Mine Site in Madagascar and Filing of Updated PEA

NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce that its construction team is now setup at the Molo Graphite Mine site in Madagascar and civil and earthworks have been initiated in preparation for the delivery and installation of the processing plant. The offsite fabrication and construction of the auxiliary buildings and structures has also been completed and these are in the process of being delivered to the mine site

President and CEO, Craig Scherba commented,

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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%.

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Altech Chemicals Ltd Interview with MD Iggy Tan Update CERENERGY Battery Project

Perth, Australia (ABN Newswire) - Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) advises that a recent interview with Managing Director Iggy Tan can be found on the Company's website.

In the interview, Iggy discusses Altech's recent progress with Fraunhofer on the joint venture to commercialise the 100 MWh Sodium Alumina Solid State Batteries for grid energy storage in Saxony, Germany. Iggy discusses the expert workshops held in Germany, the finalisation of the design basis for the plant, all major suppliers being selected, and provides an update on the marketing and front.

To view the Video Interview, please visit:
https://www.abnnewswire.net/lnk/G7YLQ0EQ



About Altech Chemicals Ltd:

Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia. Feedstock for the plant will be sourced from the Company's 100%-owned kaolin deposit at Meckering, Western Australia and shipped to Malaysia.

HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. Increasingly HPA is used by lithium-ion battery manufacturers as the coating on the battery's separator, which improves performance, longevity and safety of the battery. With global HPA demand approximately 19,000t (2018), it is estimated that this demand will grow at a compound annual growth rate (CAGR) of 30% (2018-2028); by 2028 HPA market demand will be approximately 272,000t, driven by the increasing adoption of LEDs worldwide as well as the demand for HPA by lithium-ion battery manufacturers to serve the surging electric vehicle market.

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Altech Chemicals Ltd  Update of CERENERGY Battery Project

Altech Chemicals Ltd Update of CERENERGY Battery Project

Perth, Australia (ABN Newswire) - Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to provide an update on its CERENERGY(R) battery joint venture with Fraunhofer IKTS ("Fraunhofer").

On 14 September 2022, Altech executed a Joint Venture Shareholders' Agreement with the world-leading German battery institute Fraunhofer to commercialise Fraunhofer's revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) battery. On 26 October 2022, Altech appointed leading German company Leadec Automation & Engineering GmbH (Leadec) as the lead engineer for the Definitive Feasibility Study in relation to its CERENERGY(R) 100MWh battery project. On 7 November 2022, Altech announced that it had designed and launched the CERENERGY(R) SAS 60 KWh battery pack (ABS60) designed for the renewable energy and grid storage market.

Since then, there has been outstanding progress and advancement of the CERENERGY(R) project.

During this period, two critical expert workshops were held on 13-14 October 2022 and 8 December 2022, at Altech's site in Schwarze Pumpe, Germany. The workshops were attended by Altech personnel, Leadec's process and automation engineering team, and the Fraunhofer CERENERGY(R) expert battery team. The workshops were headed and led by Managing Director Iggy Tan with the objective to bring forward detailed design requirements as well as efficient industrial production plant design. The team was able to finalise the design basis for the 100MWh battery with the production of the 60-kilowatt hour (KWh) ABS60 battery packs amounting to 1,666 packs per annum. The Fraunhofer experts have been involved in technical information transfer so as to ensure an optimal production process and progressing thermal modelling of the 60 KWh ABS60 battery packs to optimise the battery pack casing design and battery management systems.

Leadec, the lead engineering company, is currently developing technical specifications for potential suppliers to quote on. A preliminary layout of the battery plant has been completed. Major milestones have been achieved in a very short period of time.

As part of the workshops, potential equipment suppliers recommended by Fraunhofer were invited to present their proposals in terms of technical capabilities, cost and timelines. The key equipment suppliers have now been finalised and are being integrated to work closely with the various project teams. During the period, Altech also appointed ARIKON Infrastruktur GmbH (Arikon) to manage the approval process, site infrastructure requirements, and balance of plant for the CERENERGY(R) SAS battery facility. Arikon will be responsible for managing the application process and working with relevant regulatory bodies to obtain all necessary approvals for the project. This includes securing necessary permits and licenses, coordinating with local authorities and arranging utility connections. Additionally, Arikon will be responsible for designing the site infrastructure requirements for the site.

On the marketing front, Altech's business development team is communicating with potential customers that have expressed interest in the supply of CERENERGY(R) batteries and the technology. This includes a leading German energy producer that has expressed an imminent requirement to secure energy storage solutions. As the world transitions from a fossil fuel economy to a sustainable energy economy, scale and ramp up of battery storage solutions are required. Altech is aiming to secure off-take interest as part of the DFS as support for funding the project.

On the finance front, Altech is exploring various grant schemes within Germany at state and federal level as well as the EU, to support financing the project. Altech has also held discussions with leading European banks in preparation for the funding stage.

Managing Director Iggy Tan was extremely pleased with the progress of the CERENERGY(R) Battery Project and stated "We have moved very quickly on the opportunity and managed to close the joint venture Agreement with Fraunhofer and incorporated two companies in just two months, with one month being the August holidays in Germany. Since that time, we have raced to get the project moving with several commencement workshops. We have also appointed key engineering companies like Leadec and Arikon.

We have also launched the design for the 60 KWh battery pack for the renewable energy storage sector.

To date, all plant and equipment suppliers have been selected. On the marketing front, the team have been having discussions with potential interested off take parties. I am very pleased with the team we have assembled, and the outstanding progress made thus far".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/A2X1ZNCB



About Altech Chemicals Ltd:

Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia. Feedstock for the plant will be sourced from the Company's 100%-owned kaolin deposit at Meckering, Western Australia and shipped to Malaysia.

HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. Increasingly HPA is used by lithium-ion battery manufacturers as the coating on the battery's separator, which improves performance, longevity and safety of the battery. With global HPA demand approximately 19,000t (2018), it is estimated that this demand will grow at a compound annual growth rate (CAGR) of 30% (2018-2028); by 2028 HPA market demand will be approximately 272,000t, driven by the increasing adoption of LEDs worldwide as well as the demand for HPA by lithium-ion battery manufacturers to serve the surging electric vehicle market.

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International Graphite

International Graphite Confirms Third High Grade Discovery At Springdale Graphite Project – ‘Springdale South’

International Graphite Limited (ASX:IG6) is pleased to announce the results of a further 10 reverse circulation (RC) exploration holes from drilling at the Springdale Graphite Project (“Springdale” or the “Project”), near Hopetoun and 25km south of Ravensthorpe in Western Australia (Figure 1).

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NMG Announces the Engagement of Red Cloud Securities and Specifies the Grant of Consultant Options

Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSXV: NOU ) announces the engagement of Red Cloud Securities to provide liquidity services to the Company. Also, NMG specifies that the new options granted on December 1, 2022, to two consultants, will vest at certain conditions on or before March 28, 2025, and will expire two (2) years following the vesting of those options (no later than March 28, 2027).

Engagement of Red Cloud Securities
NMG announces that it has retained Red Cloud Securities ("Red Cloud"), subject to all required regulatory approvals, including the approval of the TSX Venture Exchange (the "Exchange") to provide liquidity services to the Company in compliance with the policies and guidelines of the Exchange and other applicable legislation, pursuant to an agreement engagement letter entered into between the Company and Red Cloud effective January 2, 2023 (the "Agreement"). Red Cloud is a Toronto-based financial services company that helps mineral exploration and mining companies with accessing capital markets and enhancing their corporate profile. Red Cloud is not promoting the specific purchase or sale of securities. Red Cloud will trade shares of NMG on the Exchange for the purposes of maintaining a reasonable market and improving the liquidity of NMG's common shares.

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South Star Battery Metals Successfully Completes Maiden Drilling for Its Graphite Project in Alabama, US and Announces Positive Preliminary Results

South Star Battery Metals Successfully Completes Maiden Drilling for Its Graphite Project in Alabama, US and Announces Positive Preliminary Results

Highlights:

  • Successful completion of 12 hole maiden diamond drilling program ( 506m ) confirming at- or near-surface mineralization with a total of 324.5 meters of mineralization and an average weighted grade of 2.12% Cg.
  • All the holes have significant intervals with grades typically ranging from 1.5% to 4.5% Cg and consistent mineralized zones.
  • All information and data will be compiled and used to complete the maiden NI 43-101 resource estimate planned for Q1 2023.

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBD), is pleased to announce the completion of its maiden drilling campaign and complete assay results on schedule at its Ceylon Project in Coosa County, Alabama United States.  The drill program was carried out by Logan Drilling USA and consisted of 12 holes of HQ core and totaled 506 meters. Sample assays for all 12 holes were completed at Activation Laboratory Ltd. ("Actlabs") in Ontario, Canada .

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