NextSource Materials Inc 6-K, filed Jul 7, 2021
NextSource Materials Inc. (NSRCF)
6-K
2021-07-07
For: 2021-07-07
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Added on
April 12, 2026
About this 6-K
NextSource Materials Inc filed this 6-K on July 7, 2021.
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the
month of July,
2021
Commission
File Number 000-51151
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NEXTSOURCE MATERIALS INC.
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(Translation
of registrant’s name into English)
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1940-130 King Street West Toronto, Ontario, Canada M5X
2A2
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(Address
of principal executive office)
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Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F
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Form
20-F
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☒
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Form
40-F
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☐
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(1):
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Yes
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☐
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No
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☒
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(7):
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Yes
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☐
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No
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☒
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Exhibits
Press release dated
July 7, 2021.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Dated:
July 7, 2021
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NEXTSOURCE MATERIALS INC.
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/s/
Marc Johnson
Marc
Johnson
Chief
Financial Officer
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Exhibit 99.1
NextSource Materials Receives First Royalty Payment
from Vision Blue Resources
NEWS RELEASE – TORONTO, July 7,
2021
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF)
(“NextSource” or the “Company”) announces
it has closed US$8.0 million of a total US$11.0 million in
non-dilutive royalty financing by Vision Blue Resources
(“Vision Blue”) in respect to the sales of
SuperFlake® graphite concentrate from the Molo Graphite
Project.
The
royalty payment is part of the total US$29.5 million strategic
investment by Vision Blue Resources announced on February 8, 2021.
Vision Blue is a newly created battery commodity/resource-focused
private investment company founded by Sir Mick Davis. The Company
received US$8.0M in payment for the royalty, less a $1.5M fee, for
a net payment of $6.5 million. Pursuant to the financing package
terms, the remaining US$3.0 million in royalty financing will be
advanced by Vision Blue upon the Company spending 80 percent of
mine capital cost expenditures.
The
Vision Blue financing package is sufficient to fully fund
construction of Phase 1 of the Molo Graphite Mine, the technical
study for the Phase 2 Molo expansion to a targeted minimum of
150,000 tonnes per annum, the technical study for the construction
of a battery anode facility, and a new metallurgical study to
advance the Company’s Green Giant Vanadium
Project.
Procurement
of the processing plant equipment commenced on May 11, 2021 and
construction of Phase 1 of the Molo mine is currently in progress.
Site works are expected to begin in Q3/Q4 2021, with plant
equipment installation beginning in Q1 2022, followed by plant
commissioning in Q2 2022.
ABOUT NEXTSOURCE MATERIALS INC.
NextSource
Materials Inc. is a battery 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 is one of the largest known and
highest-quality graphite deposits and the only one with
SuperFlake® graphite.
NextSource
Materials is listed on the Toronto Stock Exchange (TSX) under the
symbol “NEXT” and on the OTCQB under the symbol
“NSRCF".
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
for certain other details and assumptions relating to the
parameters of the project, mineral resource and reserve estimates
and data verification procedures. Mr. Craig Scherba, P.Geo.,
President and CEO of NextSource, is the qualified person who
reviewed and approved the technical information provided in this
press release.
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 and CEO
at craig@nextsourcematerials.com.
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. 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 in this
release include statements regarding, among others; economic and
technical studies, graphite prices, project economics, permitting,
the development timeline and the graphite market. All such forward
looking statements are based on assumptions and analyses made by
management based on their experience and perception of historical
trends, current conditions and expected future developments, as
well as other factors they believe are appropriate in the
circumstances. However, these statements are subject to a variety
of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected
including, but not limited to, unexpected changes in laws, rules or
regulations, or their enforcement by applicable authorities; the
failure of other parties to perform as agreed; social or labour
unrest; changes in commodity prices; unexpected failure or
inadequacy of infrastructure and the failure of ongoing and
contemplated studies to deliver anticipated results or results that
would justify and support continued studies, development or
operations. Readers are cautioned not to place undue reliance on
forward-looking information or statements. 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.