NextSource Materials Inc.
Financials:
Primary tickers: TSX:NEXT, OTCQB:NSRCF
Stage of development: Development, Production
Primary minerals: Flake Graphite, Battery Anode Material (CSPG)
Projects to promote: Molo Graphite Mine and Battery Anode Facility
Project locations: Madagascar, Mauritius
Website: nextsourcematerials.com
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 has begun production and is in the final optimization stage of commissioning. Commissioning of the company’s battery anode facility in Mauritius is expected to commence in Q4 2024.
NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol “NEXT” and on the OTCQB under the symbol “NSRCF”.
Cash: CAD$55M
Debt: NIL
Major shareholders:
Vision Blue Resources (Sir Mick Davis) – 47%
Private Shareholder Group – 5%
High Net Worth Investors – 15%
Insiders and Directors – 10%
Map of Projects
Management Profile
Craig Scherba, P. Geo. – Director, President & Chief Executive 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.
Brent Nykoliation, B.Com – Executive Vice President
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.
What is your rationale for taking part in 121 Mining Investment?
Promoting our project to investors who may be interested in investing in our next phases of expansion (both mine and anode level)
What recent news would you like to highlight to investors attending?
– First production of SuperFlake® graphite and near completion of mine commissioning.
– MOU signed with Korea’s POSCO International for potential equity stake and offtake for anode material
– Offtakes secured for >100% of Ph1 mine production with thyssenkrupp GmbH and main anode supplier to the Toyota and Tesla supply chains
– Secured full funding to complete Line 1 of a Battery Anode Facility in Mauritius for Q4 2024 commissioning.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
1. Achieve name plate capacity of Ph1 Molo Mine (in final commissioning phase)
2. Release of Feasibility Study for mine expansion of additional 150k tpa of flake capacity
3. Start construction of first battery anode facility (BAF)
4. Release technical study for 20k tpa BAF expansion in USA and Europe
6 Months:
1. Finalize JV or offtake agreements with OEMs and/or battery supply chain partners
2. Site selection for large-scale BAF in USA and/or EU
12 Months:
1. Commission first Battery Anode Facility in Mauritius
2. Secure funding for Molo mine expansion and large-scale BAF in USA or EU
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Speed to market – we are in the poll position to secure Tier 1 OEM customers but need to maintain first mover advantage.
What do you think makes your company such a compelling investment?
Phase 1 commissioning by Feb 2023, fast-tracking Battery Anode Facility construction with proven processing partner to the Tesla and Toyota supply chains
What are the top 3 key investor takeaways?
1. We are the only graphite project to reach production outside of China this year and likely the only one in 2024.
2. We have exclusive license to proprietary and established anode processing expertise for both natural and synthetic graphite anodes currently being used to supply major OEMs supply chains – key reason why we have attracted POSCO International as a strategic partner.
3. Ability to be a fully integrated, IRA compliant supply solution to OEMs and cell manufacturers in 2024 (flake-based) and 2027 for synthetic-based anodes.