NextSource Materials Provides Update on Mauritius Battery Anode Facility

NextSource Materials Provides Update on Mauritius Battery Anode Facility

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces an update to its plans to construct its first battery anode facility (BAF) in Mauritius

In connection with the Mauritius BAF location, the Company advises that the lessor has not delivered the premises free from any occupant(s) or occupation pursuant to the terms of the long term lease agreement (the "Agreement") and accordingly the Company has therefore terminated the Agreement in accordance with the terms thereof.

The Company remains committed to building its first BAF plant in Mauritius and is in advanced discussions in connection with an alternative location in the vicinity of the international freeport of Port Louis. The Company has completed preliminary due diligence on the alternate location and expects it will reduce ground shipping costs, address stakeholder feedback, and improve the project's social and environmental standards. Like the original location, this alternative location has the capacity to house an initial production line of 3,600 tpa with space to expand capacity through the construction of additional production lines as demand increases. The Company expects the lease terms for the alternative location will be on similar commercial terms as the previous lease and will provide an update once a lease is executed.

The Company is assessing timing and costs related to construction and operation of the Mauritius BAF plant at the alternative site, as well as the economic impact of potential design improvements. The Company expects that the preliminary economic and technical study completed for the original location will continue to be valuable in completing a similar study at the alternative location, however no assurance can be given in this regard. Accordingly, the previously announced results of the Mauritius BAF report relating to project evaluation measures, including the construction costs, timing of construction, sales potential, operating cash flows, NPV, IRR and other metrics, may not be achieved and should not be relied upon. The Company will provide an update in respect of project evaluation measures for the alternate location once a new economic and technical report has been completed.

As part of the permitting process, the Company is progressing with front-end engineering and design and an environmental impact assessment (EIA). As required as part of the EIA permitting process, the Company held formal stakeholder consultations in connection with the original location and received valuable input from the community stakeholders. The Company will continue to consider stakeholders' feedback as it advances the project.

About NextSource Materials Inc.

NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company's Molo graphite project in Madagascar is one of the largest known and highest-quality projects globally, and the only one with SuperFlake® graphite. Phase 1 of the Molo mine is in the final stages of commissioning and approaching first production.

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 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.

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", "expected" or "should" occur. Forward-looking statements include any statements regarding, among others, timing of construction and completion of the BAF in Mauritius and proposed timing and plans related to the alternative location, terms of the lease for the alternative location, expected benefits of the new location, expected production capacity of the Mauritius BAF, timing and completion of the BAF permitting, the economic results of the construction and potential expansion of the BAF (and timing thereof), 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, including identifying an alternative location of the BAF Plant, the terms of the new lease arrangement for the alternative location or if a new lease for the alternative site will be entered into at all, financing related to the construction and operation of the BAFs, receipt of all necessary permits, currency fluctuations, demand for flake graphite 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 (including whether a lease will be entered into in connection with the new location or if such terms will be favorable to the Company) 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.

SOURCE:NextSource Materials Inc.



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NextSource Materials Announces Results of 2024 Annual Meeting of Shareholders

NextSource Materials Announces Results of 2024 Annual Meeting of Shareholders

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce the results of the Annual Meeting of Shareholders of the Company (the "Meeting") held virtually at 9:00 AM (Toronto time) on December 5, 2024

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

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NextSource Materials Closes Final Tranche of Private Placement for Additional Gross Proceeds of CAD$720,800

NextSource Materials Closes Final Tranche of Private Placement for Additional Gross Proceeds of CAD$720,800

Not for distribution to U.S. news wire services or for dissemination in the United States or to a U.S. Person.

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has closed a second and final tranche of its previously announced non-brokered private placement offering, issuing an additional 1,360,000 common shares of the Company ("Shares") at a price of CAD$0.53 per Share for aggregate gross proceeds of CAD$720,800 (the "Offering

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NextSource Materials Welcomes New President and CEO Hanré Rossouw to Deliver Next Phase of Growth

NextSource Materials Welcomes New President and CEO Hanré Rossouw to Deliver Next Phase of Growth

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") confirms, further to the announcement on 28th May 2024, Hanré Rossouw has officially begun his role as President and CEO. His tenure begins in Madagascar, where he will visit the Molo graphite mine operations as well as engage with the community and government as part of a structured leadership transition plan

Also effective today, the former President and CEO, Craig Scherba, will continue as a Director and transition to the newly created role of Chief Development Officer to focus on developing strategy, managing offtake negotiations and expanding the Company's OEM relationships globally.

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NextSource Materials Completes First Commercial Shipments of Graphite Concentrate to Germany and USA

NextSource Materials Completes First Commercial Shipments of Graphite Concentrate to Germany and USA

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or "the Company") is pleased to announce it has completed its first commercial shipments of SuperFlake® graphite concentrate from its Molo Graphite Mine (the "Molo mine") in southern Madagascar

Full container loads of high-quality, coarse flake graphite concentrate were exported from the Port of Tulear, Madagascar to Germany and to the United States of America (USA) under existing offtake agreements. These initial container shipments of SuperFlake® graphite are destined for key demand markets for higher value graphite products, including refractory materials and graphite foils for consumer electronics and fire-retardant applications.

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NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million

NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million

Not for distribution to U.S. news wire services or for dissemination in the United States or to a U.S. Person.

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has closed a non-brokered private placement offering of 27,728,100 common shares of the Company ("Shares") at a price of CAD$0.53 per Share for aggregate gross proceeds of CAD$14,695,893 (the "Offering

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Lithium Universe Ltd  Partners with Quebec Chemical Logistics Supply Company

Lithium Universe Ltd Partners with Quebec Chemical Logistics Supply Company

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce the signing of a Memorandum of Understanding (MOU) to partner on logistics of essential chemical products for Lithium Universe's Becancour Lithium Refinery operations.

Highlights

- Strategic local chemical logistics partnership with Servitank

- Single logistics supplier capable of sourcing multiple process chemicals

- Reliable delivery of critical chemical inputs to Becancour Lithium Refinery

- Investigation of secondary product management and sales

- Proven experience in spodumene logistics and storage

About Servitank, a subsidiary of Groupe Somavrac

Servitank, a local, Quebec-based Company, specializes in optimizing supply chain processes and logistics solutions across various industries, including chemicals and raw materials. With a strong focus on multimodal handling, Servitank employs innovative strategies to save time and reduce costs for its clients. The parent company has extensive experience in the Becancour and Trois-Rivieres areas, having successfully managed logistics and moisture control for key players in the lithium sector in North America.

Key Elements of MOU

This partnership aims to optimize supply chain processes and enhance the operational efficiency of both companies in the rapidly growing lithium sector. Under the MOU, Servitank will seek to leverage its expertise in supply chain management and multimodal logistics to support Lithium Universe's project: the development of the Becancour Lithium Refinery, projected to produce 18,270 tonnes per annum of green battery-grade lithium carbonate. While this MOU outlines the framework for partnership, it remains a non-binding document, paving the way for detailed discussions and the eventual drafting of definitive agreements.

Chemical Supply and Logistics

Servitank is currently evaluating various storage solutions at their Becancour Port terminal, which may facilitate the efficient trucking logistics required to deliver key liquid chemicals directly to Lithium Universe's operational site. Additionally, Servitank will investigate the process of constructing dedicated storage tanks for specific process reagents, positioning itself to supply critical chemicals directly to Lithium Universe and others within the Becancour Industrial Park. Additionally, Servitank will actively assist in exploring procurement options within the local areas for other dry bulk reagents to meet Lithium Universe's specific operational requirements.

To ensure a steady supply of readily available reagents, arrangements will be made for direct delivery from established suppliers, further securing the necessary materials for production. Servitank will also assist in investigating sourcing specialty reagents from within the Becancour Industrial Park to promote the immediate circular economy within the park and reduce freight costs from other areas of Quebec.

Secondary Product Management

Both parties will investigate storage opportunities and potential partnerships with cement companies within sister companies of Servitank in Groupe Somavrac's client base. This investigation aims to effectively utilize Lithium Universe's alumina silicate by-products, enhancing sustainability and resource management. Furthermore, the two companies will assess storage requirements for sodium sulphate, considering its potential placement within the pulp and paper industry in North America.

Logistics and Storage Solutions:

Servitank's facilities in Becancour will play a crucial role in the storage and transportation of spodumene. The partnership will ensure the logistics and handling of spodumene sourced from transatlantic suppliers is managed efficiently. Servitank's sister company, Somavrac, will also provide access to advanced bagging machinery and bulk storage solutions at its Trois-Rivieres location, optimizing operational efficiency and supporting the needs of the refinery.

Iggy Tan, Chairman of Lithium Universe Limited, added, "This partnership with Servitank is a significant step towards realizing our vision for the Becancour Lithium Refinery. We are particularly focused on identifying a single logistic supplier capable of supporting us in sourcing most of our chemical reagents, which will simplify our supply chain and enhance operational efficiency. Together, we aim to bridge the lithium conversion gap and ensure a robust and responsible supply chain."

*To view photographs, please visit:
https://abnnewswire.net/lnk/66K80ZQ8



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd

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Lithium Universe

LU7 Partners with Quebec Chemical Logistics Supply Company

Lithium Universe (LU7:AU) has announced LU7 Partners with Quebec Chemical Logistics Supply Company

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