Resource News

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

Earthworks and civil construction at the mine site are progressing according to schedule and will be ready for the arrival of the processing plant and auxiliary buildings in June 2022. Completion of construction and plant commissioning is expected in Q3 2022, followed by a ramp up period of up to three months to achieve nameplate capacity.

Due to increases in global logistics costs the Company has increased the construction budget for Phase 1 of the Molo Graphite Mine by approximately $3.0 million. The Phase 1 capital cost budget is now $24.0 million plus an additional $3.0 million for working capital.

Construction of Solar and Battery Hybrid Power Plant

As announced on November 23, 2021, CBE was selected to build, own, and operate a solar, battery and thermal hybrid energy power plant ("Hybrid Plant") over a 20-year term. The Hybrid Plant will consist of a 2.6MW solar PV facility, a 1MWh battery energy storage system ("BESS") and a 3.1MW thermal facility (diesel generators). The Hybrid Plant will be located adjacent to the Molo mine site and will provide up to 33% of the mine's total Phase 1 electricity needs from renewable solar energy, with the remainder coming from thermal generators.

Construction of the Hybrid Plant has begun and all required licenses to initiate construction of the solar facility have been obtained. The thermal facility, solar facility and BESS are all expected to be installed and operational prior to initiating commissioning of the Molo processing plant in Q3 2022.

President and CEO, Craig Scherba commented,

"The solar facility and battery energy storage system is integral to our commitment to minimize our carbon emissions and build a sustainable mine. Over the life of the project, we will aim to further reduce our reliance on fossil fuels with the added benefit of lower costs and therefore better project economics."

During peak daylight hours, the solar facility and BESS will be capable of supplying up to 100% of the plant's power requirements. The thermal facility will be used in combination to provide uninterrupted power supply and always ensure 100% power availability to the mine.

NextSource and CBE are committed to optimizing the solar component throughout the contract to increase the percentage of renewable energy available to the mine.

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".

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, timing of on-site construction including completion of the civil and earthworks, timing of the delivery of the processing plant and installation thereof, delivery and installation of the auxiliary buildings and structures, delivery and construction of the Solar Battery System, shipping of all plant infrastructure to site, all re-assembly and commissioning of the Molo Project, initiation of a Feasibility Study and timing of its completion, production capacity, NPV, IRR and life of mine of the Molo mine, timing of the FEED Study and Feasibility Study, as well as the Company's intent on becoming a fully integrated global supplier of critical battery and technology materials. 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 because 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.



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NextSource Materials

Overview

NextSource Materials: Construction of Molo Graphite Mine is Fully Funded; Production in Q2 2022

Vision Blue Resources Ltd, a newly created battery commodity/resource-focused investment company founded by Sir Mick Davis (former CEO of Xstrata Plc), has made a significant strategic investment in NextSource Materials to fully fund the construction of its Molo graphite mine in Madagascar. Production is scheduled in Q2 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 40 to 60 kilograms of graphite. 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 preparing to begin construction of its 100%-owned Molo Graphite Project in southern Madagascar. The Molo Graphite Project is a fully permitted and funded project that hold a large high quality flake graphite deposit and is the only project with SuperFlake® graphite.

The Company will utilise an all-modular build approach to constructing the Molo mine. Initial production is expected to be 17,000 tonnes per annum (“tpa”) over the first two years of production followed by mine expansion in Year three. Offtakes are in place for more than 100% of initial 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 only in small quantities. Molo, as well as its Green Giant vanadium project within close proximity, leverage mining-friendly conditions and resource-rich mineralization to prime the company for economic growth and production success.

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’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 recently announced that former Xstrata CEO Sir Mick Davis committed a strategic investment of US$29.5 million in NextSource mining operations. This investment offers valuable full funding for the entire build of the Molo graphite mine.

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 intends on utilizing an all-modular build approach to constructing the Molo mine. With full funding, initial production could reach approximately 17,000 tonnes per annum over the first two years of production and mine expansion in later years.

Proceeds could also fund the fast-tracked completion of two technical studies to confirm the viability of mine expansion and construct a value-added graphite processing plant to produce spheronized, purified graphite (SPG).

In April 2021, the company finalized an exclusive partnership with two well-established and leading companies that process and supply SPG to leading Japanese anode and battery makers, who in turn supply the Tesla supply chain and other major automotive companies (“OEMs”). The company also recently executed an offtake commercial 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$14 million on the exploration and development of Green Giant.

NextSource’s management team brings years of professional and field experience in the resource, mining and financial sectors. Together, the deeply connected team primes the company for significant economic success and the drive to meet the world’s increasingly high demand for graphite.

Company Highlights

  • The Molo graphite project is a fully funded asset with rich resources and high-quality graphite. The deposit ranks as one of the largest-known and highest quality flake graphite deposits in the world.
  • Vision Blue Resources committed a strategic investment into the Molo graphite project. Vision CEO Mick Davis invested approximately US$29.5 million over two private placement equities and a non-dilutive royalty agreement.
  • 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 presents NextSource with unique development and exploration potential.
  • Mick Davis joined NextSource as chairman upon closing the first initial private placement. The mining heavyweight brings years of valuable experience in project development and financing expertise.
  • NextSource secured US$29.5 million to fully fund Phase1 of the Molo Graphite Mine and fast track key technical studies.
  • The Company has initiated the construction of Phase One of the mine. Construction will take approximately 12 months and mine commissioning is expected to begin in April 2022
  • NextSource also secured a partnership with companies within the Tesla supply chain to build a battery anode facility and entered into a commercial partnership and offtake agreement with thyssenkrupp Materials Trading for the sale of 35,000 tonnes per annum of SuperFlake® graphite concentrate.
  • On July 22, 2021, Nextsource has been accepted as a member of both the European Battery Alliance (EBA) and the European Raw Materials Alliance (ERMA).

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. After resource delineation, drilling and trenching campaigns conducted in 2012, the company discovered Molo hosted surface-level mineralization, ideal for low-cost, open-pit mining. This could significantly advance production timelines and fast-track predicted milestones and potential discovery.

This asset is also unique for its almost 50 percent premium-priced large and jumbo flake graphite profile. Widespread jumbo flake occurrences have primed the project for significant high-quality yield with SuperFlake® concentrates inferred between 97 percent to 98 percent carbon purity with simple flotation alone.

The project’s exploration and development include completed Feasibility Studies from 2015, 2017 and 2019, Mining and Environmental permitting and full funding. In Q2 2021, the company will commence construction of the modular plant.

For all details and assumptions relating to the parameters of the Molo project, mineral resource and reserve estimates and data verification procedures, 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 — Senior Vice President, Mine Development

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, Corporate Development

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 — CFO

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.

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

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 — QC

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.

Dr. David McNeely — Consultant

Dr. McNeely has over 25 years of practise in Anesthesia and Critical Care, and has vast expertise in humanitarian and social responsibility best practices. He has worked extensively in causes which have underscored the critical relationships between health and responsible environmental stewardship, with a particular focus and a passion on implementing clean energy initiatives and mining practices.

He has participated in medical mission to Inuvik, NWT and Mongolia, where environmental conditions have had devastating health consequences. He was a Founding Member of Galliano Greenhouses, which supplied trees for urban reforestation projects in the GVRD and is a member of Canadian Association of Physicians for the Environment (CAPE). He has been a UBC Associate Clinical Instructor since 2008 and involved in medical student and resident teaching and has experience in working effectively and collaboratively with health authorities and the government.

Dr. McNeely has been a major shareholder of NextSource Materials since 2014.

Dr. McNeely received his BSc.Hons. from St. Francis Xavier University(84), a medical degree from McGill (89) and Anesthesia Fellowship from UBC(94). Along with his clinical practice at Surrey Memorial Hospital, he has had numerous executive positions in department leadership, patient safety and advocacy, program implementation and review, quality improvement, professional practice oversight, healthcare and professional promotion, and physician/government contract negotiations.

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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NextSource Materials Announces Factory Acceptance Testing of the Molo Graphite Mine Processing Plant is Complete and Preparations for Transport to Mine Site Have Initiated

NextSource Materials Announces Factory Acceptance Testing of the Molo Graphite Mine Processing Plant is Complete and Preparations for Transport to Mine Site Have Initiated

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce that Factory Acceptance Testing and final verification of equipment design specifications and end-to-end functions of the processing plant for Phase 1 of the Molo Graphite Mine (the "Processing Plant") is complete

The Processing Plant was designed and built using an all-modular approach and is capable of processing 240,000 tpa of ore and producing approximately 17,000 tpa of high-quality SuperFlake® graphite concentrate. Factory Acceptance Testing ("FAT") was the final validation step after the fabrication and assembly of the Processing Plant equipment and was completed by our Engineering, Procurement and Construction contractor in their off-shore assembly facility under the supervision of SGS, the world-leader in process plant testing, inspection, and process certification.

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NextSource Materials Announces Fabrication and Assembly of the Molo Graphite Mine Processing Plant Has Been Completed and Factory Acceptance Testing Initiated

NextSource Materials Announces Fabrication and Assembly of the Molo Graphite Mine Processing Plant Has Been Completed and Factory Acceptance Testing Initiated

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce that fabrication and assembly of the processing plant for Phase 1 of the Molo Graphite Mine (the "Processing Plant") has been completed by our Engineering, Procurement and Construction contractor (the "EPC Contractor") in their off-shore assembly facility and that Factory Acceptance Testing has been initiated

The Processing Plant has been designed and built using an all-modular approach and is capable of processing 240,000 tpa of ore and producing approximately 17,000 tpa of high-quality SuperFlake® graphite concentrate. The Processing Plant will now undergo Factory Acceptance Testing ("FAT") to validate the proper operation of the equipment and ensure that all design specifications and operational requirements have been achieved.

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NextSource Materials Announces Results of 2021 Annual and Special Meeting of Shareholders

NextSource Materials Announces Results of 2021 Annual and Special 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 10:30 AM Toronto, Ontario, Canada on December 6, 2021

As of the record date for the Meeting, which was November 25, 2021, there were 99,026,656 common shares of the Company outstanding and entitled to vote at the Meeting. A total of 51,726,338 common shares equivalent to 52.2% of the common shares entitled to vote at the Meeting were represented in person or by proxy.

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Electric Royalties Announces Filing of Independent Preliminary Economic Assessment for Battery Hill Manganese Project

Electric Royalties Announces Filing of Independent Preliminary Economic Assessment for Battery Hill Manganese Project

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce that Manganese X Energy Corp. (TSXV: MN) has filed a Preliminary Economic Assessment ("PEA") of the Battery Hill manganese project ("Battery Hill") in New Brunswick, Canada, on SEDAR. Electric Royalties holds a 2% gross revenue royalty on Battery Hill, which is projected to have a 47-year operating mine life

Brendan Yurik, CEO of Electric Royalties,commented: "We congratulate our royalty asset partner Manganese X Energy on this milestone, which shows significant gross revenue projections for the Battery Hill project of US$177 million per year over an initial forecast mine life of 47 years. Electric Royalties' 2% gross revenue royalty entitles us to 2% of those gross revenues which, once in production, could present a source of significant cash flow to the Company moving forward. The Battery Hill PEA forecasts robust economics and a short payback period for a relatively low capital investment which bodes well for Manganese X Energy as it strives to become the first North American company to commercialize high purity, battery-quality manganese."

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Leading Independent Proxy Advisors ISS and Glass Lewis Recommend Shareholders Vote "FOR" Agreement with Nouveau Monde Graphite and Change of Business

Mason Graphite Inc. (TSX-V: LLG) (OTCQX: MGPHF) ("Mason Graphite" or the "Company") is pleased to announce that Institutional Shareholder Services (ISS) and Glass Lewis, the leading independent proxy voting advisory firms, have recommended that Mason Graphite shareholders vote "FOR" the option and joint venture agreement (the "OJV Agreement") with Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSX-V: NOU) and the change of business (the "Change of Business").

Shareholders will benefit from the proposed joint venture to be formed with NMG under the OJV Agreement (the "Joint Venture") by:

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Leading Independent Proxy Advisors ISS and Glass Lewis Recommend Shareholders Vote "FOR" Agreement with Nouveau Monde Graphite and Change of Business

Mason Graphite Inc. (TSX-V: LLG) (OTCQX: MGPHF) ("Mason Graphite" or the "Company") is pleased to announce that Institutional Shareholder Services (ISS) and Glass Lewis, the leading independent proxy voting advisory firms, have recommended that Mason Graphite shareholders vote "FOR" the option and joint venture agreement (the "OJV Agreement") with Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSX-V: NOU) and the change of business (the "Change of Business").

Shareholders will benefit from the proposed joint venture to be formed with NMG under the OJV Agreement (the "Joint Venture") by:

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Leading Independent Proxy Advisors ISS and Glass Lewis Recommend Shareholders Vote "FOR" Agreement with Nouveau Monde Graphite and Change of Business

Mason Graphite Inc. (TSX-V: LLG) (OTCQX: MGPHF) ("Mason Graphite" or the "Company") is pleased to announce that Institutional Shareholder Services (ISS) and Glass Lewis, the leading independent proxy voting advisory firms, have recommended that Mason Graphite shareholders vote "FOR" the option and joint venture agreement (the "OJV Agreement") with Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSX-V: NOU) and the change of business (the "Change of Business").

Shareholders will benefit from the proposed joint venture to be formed with NMG under the OJV Agreement (the "Joint Venture") by:

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Altech Chemicals Ltd Strategic Partnership Silumina Anodes Qualification

Perth, Australia (ABN Newswire) - Altech Chemicals Ltd (ASX:ATC) (FRA:A3Y) is pleased to announce that it has executed a framework agreement with leading German institute Fraunhofer IKTS ("IKTS"), as a strategic partner to expedite the testing and qualification process for the Company's Silumina AnodesTM product.

IKTS boasts labs, technical centres with outstanding equipment at its sites in Dresden (Saxony), Hermsdorf (Thuringia) and several other sites in Germany. IKTS is considered as one of, if not the leading know-how and research centre for battery materials in the world . IKTS recently opened their Battery Innovation and Technology Center (BITC) in Arnstadt.

The main objective of the strategic partnership is for IKTS to independently test the long-term performance of Altech's Silumina AnodesTM battery material in various battery applications. IKTS, through its extensive lithium-ion battery research and network of partners, will be able provide extensive performance testing of various types of battery applications that will assist the qualification process of the Silumina AnodesTM product for potential customers.

Altech is well funded to complete a pilot plant adjacent to its industrial site in Saxony, Germany, in order to supply commercial samples to potential downstream customers and for the qualification process.

Altech recently completed a pre-feasibility study for a 10,000 tpa Silumina AnodesTM plant in Germany. The Company's silicon graphite composite product not only achieves a much higher energy capacity than the conventional graphite anode, it is also stable during the life of the battery. The Company announced in late 2021 that it had achieved a 30% higher energy battery with improved cyclability or battery life, and is now in the process of commercial development.

With a capital investment of only US$95 million, the pre-feasibility study for the project returns a net present value of US$507 million, with yearly net free cash generated of US$63 million. The internal rate of return of the project is estimated at a very attractive 40%. Altech is quickly advancing the project to the next stage of development.

The Company is well positioned to dramatically reduce supply risks by positioning its operation in Germany and sourcing its graphite and silicon feedstock from European suppliers.

During the recent crisis in Europe forcing supply chain pressures and rising energy prices, it has demonstrated the importance of European material supply for European battery and EV makers. The manufacturing supply risks are becoming increasingly evident, and more focus will be placed on European supply.

*To view photograph at IKTS test facilities in Dresden, please visit:
https://abnnewswire.net/lnk/M53XXS83



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.



Source:
Altech Chemicals Ltd

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Private Investor in Electric Royalties to File Early Warning Report

Private Investor in Electric Royalties to File Early Warning Report

Stefan Gleason (the "Acquiror"), a private investor, today announced that he is filing an early warning report in connection with his acquisition of shares of Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company

On June 30, Acquiror purchased 1,138,750 Company shares via the OTCQB (at a cost of $223,717.71 CAD, or an average of $0.196 per share), taking his interest above the 10% reporting threshold. Prior to June 30, the Acquiror held an aggregate of 8,709,979 Shares and 500,000 Warrant Shares. The aggregate Shares and Warrants over which the Acquiror had beneficial ownership, control or direction represented approximately 9.99% of the issued and outstanding Shares on an as converted and partially diluted basis.

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