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 graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently being optimized to reach its nameplate production capacity.
The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.
NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol “NEXT” and on the OTCQB under the symbol “NSRCF”.
Cash: CAD 5M
Debt: NIL
Major shareholders:
Vision Blue Resources (Sir Mick Davis) 47.7%
Private Shareholder Group – 5%
Polar Capital – 3 %
Management ownership – 8% (insiders and directors)
Hanré Rossouw – President & Chief Executive Officer
Hanré Rossouw was appointed President and Chief Executive Officer of NextSource effective November 1, 2024 and joined the Board as a Director from September 1, 2024. Hanré has extensive experience in the global natural resources industry gained over the last 25 years and joined NextSource from Sasol Limited where he was Chief Financial Officer and Executive Director. Prior to Sasol he was the Chief Financial Officer and Executive Director of Royal Bafokeng Platinum and a portfolio manager at Investec Asset Management. He was also previously the Chief Financial Officer of Xstrata Alloys and held a number of other senior roles at Xstrata plc that involved extensive strategy, mergers and acquisitions, business optimisation and capital markets experience. He began his career as graduate engineer at Anglo American plc, and he later also worked for Accenture and De Beers Group.
Jaco Crouse – Chief Financial Officer
Mr Crouse joins NextSource from the position of CFO and Executive Director of Amaroq Minerals and brings a wealth of experience in mergers and acquisitions, capital and debt markets, financial reporting and the development and execution of business strategies in listed global natural resources companies over more than 20 years.
Mr Crouse previously served as CFO at Metals Acquisition Corp, where completed the purchase of the CSA copper mine in Australia from Glencore, and as CFO at TSX listed Detour Gold Corporation. Mr Crouse was a former Chief Financial Officer and one of the founding members at Triple Flag Mining, a streaming and royalty company, was instrumental in the turnaround of Barrick Gold Corporation in 2015 as VP Business Optimization and worked in the Nickel Trading division at Glencore in Baar Switzerland as Asset Manager. He held various positions within Xstrata between December 2002 to November 2013, latterly as General Manager of Business Optimisation in the Nickel Division.
Jaco studied Accounting Sciences at the University of South Africa and a qualified Chartered Accountant in Ontario (CPA, CA) and South Africa (CA(SA)). He is also a registered Financial Risk Manager (FRM).
Brent Nykoliation, B.Com – Executive Vice President, Strategy and Corporate Affairs
Mr. Nykoliation has been part of the executive management team at NextSource Materials since joining the Company in 2007 and oversees all the strategic corporate initiatives and development with 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.
Mr. Nykoliation holds a Bachelor of Commerce with Honours degree from Queen’s University.
Craig Scherba, P. Geo. – Director and Chief Development Officer
Mr. Scherba was appointed President and CEO in September 2012 and has been a director since January 2010 when he served as Vice President, Exploration of the Company. Prior to joining the Company, Mr. Scherba was a managing partner for six years with Taiga Consultants Ltd., a mining exploration consulting company. Mr. Scherba has been a professional geologist (P. Geo.) since 2000, and his expertise includes supervising large Canadian and international mineral resource exploration programs.
Mr. Scherba was an integral member of the exploration team that developed Nevsun Resources’ high grade gold, copper and zinc Bisha project in Eritrea. Mr. Scherba served as the NextSource’s Country and Exploration Manager in Madagascar during its initial exploration stage, discovering both the Molo Graphite and the Green Giant Vanadium deposits. He holds a Bachelor of Science degree in Biological Sciences, and a Bachelor of Science after-degree in Geology from the University of Alberta.
Promoting our project to investors who may be interested in investing in our next phases of expansion to meet OEM supply requirements (both mine and anode level)
– Our Molo graphite mine is now producing with first commercial sales to Thyssenkrupp & Japan completed.
– Expected Offtake agreement for anode material with OEM supply chain partner in Q1 2025
– 1st of several planned battery anode facilities expected to commission H2 2026 to supply anode material for OEMs.
– Advanced discussions with strategic funding partners for 1st anode plant (UAE)
– 48% ownership by Vision Blue Resources (Mick Davis)
Our operations need to rapidly expand to meet OEM demand for ex-China graphite and anode material. Opportunity to participate in next funding round with strategics.
3 Months:
1. Achieve name plate capacity of Ph1 Molo Mine (in final commissioning phase)
2. Secure offtake agreement with OEM / supply chain strategic
3. Release of 2nd Technical Study for 20k tpa battery anode facility (BAF) in Middle East
4. Secure strategic funding partner for construction of 20k tpa BAF
6 Months:
1. Secure site and start construction of BAF in Middle East
2. Molo mine expansion to supply the required feedstock (vertically integrated)
12 Months:
1. Build Molo sales to 100% of Phase 1 capacity (15,000 tpa)
2. Continue validating SPG and CSPG with additional OEM supply chain customers
Speed to market – we are in the poll position to secure Tier 1 OEM customers but need to maintain first mover advantage.
Geopolitical – changes to current IRA unknown with Trump Administration, but also seen as a significant opportunity as we are a stable and reliable source of flake to the US and EU
Phase 1 in production, with completion of ramp up near completion, fast-tracking Battery Anode Facility to supply active anode material to EV supply chains by end of 2026
1. We are one of very few graphite mines in production outside of China and able to supply high quality concentrate in 2025.
2. Mandate letter from the IFC for 50% of the estimated CAPEX for our mine expansion
3. Ability to be a fully integrated, non-China (FEOC) supply solution to OEMs and cell manufacturers in 2025 (flake-based) with anode supply capability in 2026.