Summary.
Vision Blue Resources Ltd, a battery commodity/resource-focused investment firm established by Sir Mick Davis (previous CEO of Xstrata Plc), made a considerable tactical financial investment in NextSource Products in 2021 to totally money the building of its Molo graphite mine in Madagascar. Production has actually started, with Stage 1 mine operations presently going through increase to reach its nameplate production capability of 17,000 tpa of graphite concentrate.
According to UK’s Criteria Minerals Intelligence, battery need for flake graphite is anticipated to grow in between 5-7 fold by 2035. This significant spike in need is because of graphite’s vital function as the anode product in lithium-ion batteries. Electric car batteries include in between 60 to 90 kgs of graphite per battery. By volume, graphite is the biggest basic material in a lithium-ion battery. As the electrical car market continues to grow, buying the business that produce these important battery products and have first-mover benefit can offer considerable value-creation and direct exposure to this broadening market.
NextSource Products Inc. is a battery products advancement business based in Toronto, Canada that is intent on ending up being a vertically incorporated worldwide provider of battery products through the mining and value-added processing of graphite and other minerals.
The Business’s Molo graphite task in Madagascar is among the biggest recognized and first-rate graphite resources internationally, and the just one with SuperFlake ® graphite.
The Business is likewise establishing a considerable downstream graphite value-add organization through the staged rollout of Battery Anode Facilities efficient in massive production of layered, spheronized and cleansed graphite for direct shipment to battery and automobile consumers, beyond current Asian supply chains, in a totally transparent and traceable way.
Graphite in Madagascar is renowned for its quality and flake size. For nearly a century, Madagascar has actually been exporting flake graphite to the world however in minimal amounts. Molo will catapult Madagascar to a leading 5 graphite producing nation. With its Green Giant vanadium task likewise within close distance to the Molo task, NextSource Products manages 2 really tactical sources of battery products at one source.
For more details about NextSource visit our site at www.nextsourcematerials.com or call us a +1.416.364.4911 or e-mail Brent Nykoliation, Executive Vice President, Corporate Advancement at [email protected] or email Craig Scherba, President and CEO at [email protected].
NextSource’s one hundred percent owned and totally allowed Molo graphite task drew financier attention for its big, top quality flake graphite deposit and special SuperFlake graphite concentrate. Sir Mick Davis’s tactical financial investment of US$ 29.5 million in NextSource in Might 2021 offered the whole financing to bring the Molo Graphite mine into production.
” This financial investment in NextSource highlights our belief that the huge nonreligious modification in need for vital battery product resources is not being fulfilled by a suitable supply-side reaction, mostly as an outcome of capital restrictions,” Davis specified.
The business used an all-modular develop method to build the Molo mine. Stage one production will be roughly 17,000 tonnes per year over the very first 2 years with more scheduled growth in year 3.
The business made its initially bulk container delivery of SuperFlake ® graphite in October 2023 to its downstream technical partner’s battery anode center to be processed into spheronized, cleansed graphite (SPG) that will then be more processed into layered SPG (CSPG) as part of big scale, multi-step confirmation tests being carried out by automobile EV supply chains in South Korea and Japan. The very first series of confirmation test outcomes are anticipated back in Q1 2024.
In April 2021, the business completed a special technical collaboration with a Japanese business that
offers SPG to leading Japanese anode and battery makers, who in turn supply the Tesla and Toyota supply chains. NextSource has actually protected the licensing of a reputable procedure to produce SPG that is presently utilized in EV supply chains, in addition to a finishing innovation that has actually been confirmed by a significant Japanese covering business to produce CSPG. The business has actually likewise performed a business offtake contract with thyssenkrupp Products Trading GmbH, a global trading and services business headquartered in Essen, Germany, for the sale of 35,000 tpa of the SuperFlake ® graphite items.
NextSource’s other extremely potential task, the Green Giant vanadium task in Madagascar, stands apart for its sediment-hosted deposit profile, which is just seen in roughly 5 percent of overall vanadium incidents.
The business thinks highly in vanadium’s prospective market development with the popularization of VRBs as a leading innovation for green energy applications. Considering that task acquisition in 2007, NextSource has actually invested over US$ 20 million on the expedition and advancement of the Green Giant.
NextSource’s management group and directors bring years of expert mine advancement and capital markets competence. NextSource has actually put together an outstanding group with a tested performance history in mine operations and constructing investor worth. This places the business for considerable development and financial success as it makes every effort to satisfy the world’s increasing need for graphite.
Business Emphasizes.
- The Molo graphite task in Madagascar is among the biggest recognized and first-rate graphite resources internationally, and the just one with SuperFlake ® graphite. The Molo mine has actually started production, with Stage 1 mine operations presently going through increase to reach its nameplate production capability of 17,000 tpa of graphite concentrate.
- Vision Blue Resources, a fund directed by Sir Mick Davis that buys tactical battery products, is NextSource’s biggest investor.
- Sir Mick Davis is NextSource’s chairman and this mining heavyweight brings years of important experience in mine advancement and operations competence.
- NextSource will finish a expediency research study in November 2023 for its Stage 2 growth of an extra 150,000 tonnes in order to satisfy the considerable forecasted need for graphite. Timing for Stage 2 building is anticipated to take 18 months to finish from a last financial investment choice and when financing remains in location, which would be asserted on protecting an OEM offtake.
- NextSource is among very couple of graphite business to have actually protected long term offtakes with respectable partners. The very first is for the sale of 20,000 tonnes per year with a popular Japanese trader that provides the Tesla and Toyota battery supply chains, and the 2nd is with thyssenkrupp Products Trading for the sale of 35,000 tonnes per year of SuperFlake ® graphite concentrate.
- The Business is likewise establishing a considerable downstream graphite value-add organization through the staged rollout of Battery Anode Facilities (BAFs). These BAFs will can massive production of round, cleansed graphite (SPG) and layered SPG (CSPG) utilizing recognized processing competence for direct shipment to battery and automobile consumers, beyond current Asian supply chains, in a totally transparent and traceable way. Building of its Stage 1 BAF in Mauritius is anticipated to be finished by the end of 2024.
- The Business likewise owns the Green Giant vanadium task, a sophisticated phase NI 43-101 resource that is among the world’s biggest recognized vanadium deposits. The sediment-hosted geophysical profile of this vanadium deposit is appropriate for vanadium redox batteries, which are a leading battery innovation for big scale energy storage applications.
- NextSource Products is noted on the Toronto Stock Market (TSX) under the sign “NEXT” and on the OTCQB under the sign “NSRCF”.
Secret Jobs.
Molo Graphite Mine and Task
The Molo graphite task ranks as one of the largest-known and first-rate flake graphite deposits on the planet. The residential or commercial property is over 62.5 hectares, beings in the Tulear area of Southwestern Madagascar and lies 11.5 kilometers east of the town of Fotadrevo.
The Molo mine has actually started production, with Stage 1 mine operations presently going through increase to reach its nameplate production capability of 17,000 tpa of graphite concentrate.
Overall combined graphite resources at Molo are 141.28 million tonnes at 6.13 percent overall graphitic carbon, with an included ore reserve of 22.44 million tonnes at 7.02 percent graphitic carbon. The business has actually marked over 300-line kilometers of constant graphite mineralization at surface area. NextSource has essentially an unrestricted supply of graphite it can give the marketplace in lockstep with need.
NextSource has exceptional flake size circulation and well above the worldwide average. The Molo possession is reasonably special for having nearly half premium-priced big and jumbo flake graphite and can attain approximately 98 percent carbon pureness with easy flotation alone. Molo SuperFlake ® has actually been confirmed by end-users and fulfills or surpasses all requirements for the leading need markets for flake graphite; anode product for lithium-ion batteries, refractories, graphite foils and graphene inks.
NextSource has actually finished a series of expediency research studies on the task considering that 2015, with an upgraded expediency research study for stage 2 mine growth anticipated in Q4 2023.
For all information and presumptions associating with the criteria of the mineral resource, reserve price quotes, and information confirmation treatments for stage among the Molo Task, please describe the business’s site at nextsourcematerials.com
Green Giant Vanadium Task
The 100-percent-owned Green Giant vanadium task is an advanced-stage expedition task found in South-central Madagascar and is among the world’s biggest recognized vanadium deposits. The task leverages perfect mining conditions and remains in close distance to NextSource’s Molo graphite mine.
The Green Giant Task is an unusual kind of vanadium deposit due to the fact that it is sediment-hosted. No magnetic metals are related to Green Giant’s vanadium, making the task perfect for producing high-purity vanadium pentoxide, a crucial product in vanadium redox batteries.
The residential or commercial property’s NI 43-101 certified resource determines an approximated 60 million tonnes of vanadium pentoxide at a typical grade of nearly 0.7 percent at a 0.5 percent cut-off.
Management Group.
Brent Nykoliation– Executive Vice-president
Mr. Nykoliation signed up with the senior management group at NextSource Products as Vice President in 2007 and leads the advancement and execution of tactical collaborations and offtakes with supply chain consumers. In addition, Mr. Nykoliation manages all interactions with institutional financiers and experts for the Business.
He brings over twenty years of senior management experience, having actually held marketing and tactical advancement positions with numerous Fortune 500 corporations in Canada, significantly Nestlé, Home Depot and Whirlpool.
Mr. Nykoliation holds a Bachelor of Commerce with Honours degree from Queen’s University.
Marc Johnson– Chief Financial Officer
Marc Johnson is a multilingual senior executive with over twenty years of organization experience, consisting of 10 years at public corporations as CFO, VP of business advancement and other monetary management positions, and 10 years in capital markets in financial investment banking and equity research study. Johnson is a chartered monetary expert and a chartered expert accounting professional and signed up with as CFO in October 2015. He likewise holds a bachelor of commerce (financing) from the John Molson School of Service at Concordia University in Montreal.
Jonathan (Johnny) Velloza- Interim Chief Operating Officer
Mr. Velloza has a wealth of technical and running experience in the mining market covering thirty years throughout which he handled functional optimization procedures and big capital growths throughout a variety of products and in lots of jurisdictions. Mr. Velloza was formerly Deputy CEO and COO of Gem Diamonds and CEO of Chemaf. Prior to this, he was with BHP Western Australia Iron Ore where, from 2013 to 2015, he was General Supervisor at the biggest iron ore mine in the BHP portfolio, leading a variety of effective functional performance programs. He likewise served as a Senior Expedition Supervisor in Zambia and in Chile for BHP from 2011-2013, Operations Supervisor at AngloGold Ashanti from 2009-2010 and held various supervisory positions at De Beers from 2001-2009.
Mr. Velloza holds a Bachelor’s degree in Mining Engineering from The University of Johannesburg and a Bachelor’s degree in Service from The University of South Africa.
Danniel Stokes – VP, Unique Jobs
Daniel Stokes signed up with NextSource in 2022. Throughout his profession, he has actually been accountable for offering task management assistance throughout a varied portfolio of tasks in mining, facilities, and nuclear markets; establishing tools, executing finest practices and mentoring apprentices. Stokes holds degrees in engineering and organization and has a credentials in task management from the Association for Task Management.
Markus Reichardt – VP, Sustainability
Mr. Reichardt signed up with NextSource in 2023 and brings an useful understanding of incorporating ESG into all phases of the task cycle based upon a 25 year performance history in functional, senior business and advisory functions in the resources, farming and renewables sectors throughout the establishing world.
Mr. Reichardt is accountable for driving the Group’s Security, Health, Environment, Social, Environment Modification and Quality efficiency and efforts.
Mr. Reichardt is a previous Corporate Environmental Supervisor of AngloGold Ltd and holds degrees in history and remediation ecology.
Wilhelm Reitz – General Supervisor, Molo Mine
Wilhelm Reitz is a mine management expert with 28 years of experience in the worldwide mining sector, with the last 11 years concentrated on vital minerals and in establishing innovations through style, engineering, and research study on graphite. Reitz held senior management functions with AfriGold in Senegal and West African Diamonds in Sierra Leone and Guinea. Prior to signing up with NextSource, he was associated with establishing and handling graphite mines in Madagascar for Stratmin Global and Greenwing Resources. Reitz holds a BSB Diploma in Management and Management and studied with goal in Australia, professors of management.
Lydia Boarlaza – Nation Supervisor, NextSource Products
Lydia Boarlaza signed up with NextSource as Nation Supervisor in January 2021 and has actually had comprehensive management experience in the Madagascar mining sector over her profession. She has actually served in basic supervisor and resident supervisor functions for numerous business consisting of Madagascar Consolidated Mining S.A., Madagascar Oil S.A., Avana Group, Hunt Oil Madagascar, and Shell Expedition & & Advancement Madagascar BV. She belongs to the board of directors of Madagascar Chamber of Mines, member of the National Committee within the EITI Madagascar, and member of the Females in Mining and Resources Association in Madagascar.
Board of Directors.
Sir Mick Davis– Chairman
Sir Mick Davis is the CEO of Vision Blue Resources and an extremely effective mining executive certified with structure Xstrata plc into among the biggest mining business on the planet before its acquisition by Glencore plc. Before noting Xstrata on the LSE as CEO he was CFO of Billiton plc and Chairman of Billiton Coal which he signed up with from the position of Eskom CFO. Throughout his profession in mining, he has actually raised over US$ 40bn from worldwide capital markets and effectively finished over US$ 120bn of business deals, consisting of the development of the Ingwe Coal Corporation in South Africa; the listing of Billiton on the LSE; the merger of BHP and Billiton; in addition to various deals at Xstrata culminating in the sale to Glencore plc. Sir Mick Davis is a chartered accounting professional by occupation and holds an honours degree in commerce from Rhodes University, South Africa and an honorary doctorate from Bar Ilan University, Israel.
Ian Pearce– Director
Ian Pearce is the previous CEO of Xstrata Nickel, and was the previous COO of Falconbridge Limited, which was obtained by Xstrata Plc in 2006. Xstrata Plc’s acquisition of Falconbridge was among the biggest mining takeovers internationally and among the biggest takeover quotes in Canadian history. Pearce was likewise a founding partner of X2 Resources who, in addition to Sir Mick Davis, comprised the group of 6 ex-Xstrata executives who formed the mid-tier varied mining and metals business. He presently works as a director for numerous worldwide business in the mining and metals, energy, and sustainability markets. Pearce formerly worked 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.
Craig Scherba– Director, President & & President
Craig Scherba was selected president and CEO in September 2012 and has actually been a director considering that January 2010. Formerly, Scherba worked as vice president of expedition of the business, considering that January 2010. Scherba was a handling partner for 6 years with Taiga Professionals, a mining expedition seeking advice from business. He has actually been an expert geologist considering that 2000, and his competence consists of monitoring big Canadian and global expedition programs. Scherba was an essential member of the expedition group that established Nevsun Resources’ top-quality gold, copper and zinc Bisha task in Eritrea. He worked as the business’s nation and expedition supervisor in Madagascar throughout its preliminary expedition phase, finding both the Molo Graphite and the Green Giant Vanadium deposits.
Brett Whalen– Director
Brett Whalen has more than twenty years of financial investment banking and M&A proficiency, costs over 16 of those years at Dundee Corporation. Throughout his period at Dundee, Whalen was straight associated with finishing roughly $2 billion in M&An offers and assisted raise over $10 billion in capital for resource sector business. While a vice president and portfolio supervisor of Goodman & & Co., he managed the financial investment of $6 million into NextSource, making it possible for the business to attain crucial technical turning points, significantly the conclusion of its July 2017 Stage One Expediency Research study and the principle and style of the entire modular develop method NextSource will be used for building of both Stage One and Stage 2 of the Molo mine. Whalen has comprehensive understanding of both graphite and vanadium and the basic battery products market.
Whalen has actually held Board seats of numerous TSX-listed and independently held business and holds a BACHELOR’S DEGREE (Honours) degree in Economics and Financing from Wilfrid Laurier University.
Christopher Kruba– Director
Christopher Kruba is vice-president and legal counsel to Nostrum Capital Corporation and numerous associated corporations that become part of the Toldo Group. The Toldo Group is headquartered in Windsor, Ontario and is made up of numerous independently held corporations in Canada and the United States, a few of which have big production operations in varied sectors and others that are associated with active and passive financial investments throughout capital markets throughout The United States and Canada, Europe and Africa. In addition to his obligations as counsel to the Toldo Group, Kruba works as business secretary to all the business, belongs to the group’s financial investment committee and serves on the board of directors of much of the business.