NextSource Materials Inc 6-K, filed Jul 22, 2021
NextSource Materials Inc. (NSRCF)
6-K
2021-07-22
For: 2021-07-22
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Added on
April 12, 2026
About this 6-K
NextSource Materials Inc filed this 6-K on July 22, 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 22, 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 22, 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 Joins the European Battery
Alliance
and the European Raw Materials Alliance
NEWS RELEASE – TORONTO, July 22,
2021
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF)
(“NextSource” or the “Company”) is pleased
to announce that it has been accepted as a member of both the
European Battery Alliance (“EBA”) and the European Raw
Materials Alliance (“ERMA”).
The EBA
was established in October 2017 by the European Commission, the
Executive Branch of the European Union, to bring together key
stakeholders in the battery material, technology and financing
space with the objective of building a strong and competitive
European battery industry by 2025 in order to support the electric
vehicle (“EV’) and energy storage system
(“ESS”) battery markets.
The
ERMA was established in September 2020 by the European Commission
to address the challenge of securing access to sustainable raw
materials, advanced materials, and industrial processing know-how
that vital for key EU industrial ecosystems, such as automotive,
renewable energy, defence and aerospace. The ERMA’s initial
focus is on rare earth magnet and motor value chain, which will be
expanded to include energy storage and conversion (batteries and
fuel cells).
Highlights
●
NextSource’s
acceptance into the EBA and ERMA aligns with our strategy to become
a significant producer of graphite and a strategic supplier of
battery anode materials necessary to support the electric vehicle
revolution, by providing a fully integrated product from
“mine to the battery”.
●
Membership in the
EBA and ERMA provides NextSource with an opportunity to collaborate
with key European stakeholders, automotive manufacturers
(“OEMs”) and end-users seeking reliable, secure and
sustainable access to high-quality graphite and other battery
materials.
●
As announced on May
25, 2021, NextSource entered into a long-term partnership and
offtake agreement with Germany’s thyssenkrupp Materials
Trading, an EBA member, to supply our SuperFlake® graphite for
their foundries and battery production businesses.
●
The Company’s
Molo graphite mine, which is on track to be commissioned in Q2 of
2022, will become a high-quality source of graphite for the
European market.
●
As announced on
June 23, 2021, recent discussions with offtake partners for our
Superflake® graphite resulted in the Company initiating a
technical study for a Phase 2 production capacity of at least
150,000 tonnes per annum, which is a significant increase from our
2019 Feasibility Study that considered a Phase 2 capacity of only
45,000 tpa.
●
NextSource is
already in discussions with other EBA and ERMA members that are
integral to the battery manufacturing supply chain regarding
potential offtakes and supply of our SuperFlake® graphite into
key European markets.
EUROPE PREDICTED TO LEAD THE ARRIVAL OF EV DOMINANCE IN 12
YEARS
As
reported by Bloomberg, a new study by consultant Ernst & Young
LLP predicts that global electric vehicle supremacy will arrive by
2033; five years earlier than previously expected, driven by
tougher environmental regulations to curb climate change, coupled
with intensifying interest and demand for zero-emission
vehicles.
The
study forecasts that by 2045, non-EV sales will fall to less than
1% of the global car market and it will be Europe leading the
charge, with EV models outselling internal combustion engine
systems by 2028. That cross over point is predicted to arrive in
China in 2033 and in the U.S. in 2036. This latest news once again
reinforces that battery shortage is a major risk to the burgeoning
electric car era. Security of supply of critical materials that go
into these batteries is at the top of the agenda for governments
around the world, and strategies to secure them will be a major
focus for them.
BATTERY ANODE MATERIAL STRATEGY
On
April 12, 2021, following a multi-year verification process,
NextSource signed a binding agreement and exclusive partnership
with two well-established and leading value-added graphite
processors that currently supply SPG to leading Japanese anode and
battery makers within the supply chains for Tesla and major
Japanese automotive companies (“OEMs”). Through this
collaboration, NextSource plans to construct and operate its own
value-added BAF to produce SPG and eventually coated SPG, for sale
into these OEM supply chains.
The
Partners consist of NextSource's Japanese offtake partner
("Japanese Partner") and the Japanese Partner's SPG processing
partner ("SPG Partner"). The Japanese Partner is a prominent
Japanese trading company who is a major supplier of SPG to one of
Japan’s largest chemical companies that supplies materials
for lithium-ion batteries for electric vehicle (“EV”)
applications. It currently supplies graphite anode material to
major automotive OEM supply chains. The SPG Partner is a leading
processor of SPG for the EV markets who owns and operates graphite
anode processing facilities in China and is regarded by OEM anode
producers to be a best-in-class processor, and one of the highest
quality suppliers of SPG globally. The Japanese and SPG Partners
have had an alliance together for over 30 years and have been
processing battery-grade graphite together for over 15
years.
Key Highlights:
●
Provides NextSource
with a complete, turn-key facility that is an exact duplicate of
the current facility that is processing (SPG) for lithium-ion
batteries by current suppliers into these OEM supply
chains.
●
Enables NextSource
to gain immediate access to leading and established spheroidization
technology intellectual property, thereby significantly reducing
the time required for final QA/QC of its SuperFlake® graphite
with other OEMs.
●
Partnership is
exclusive to NextSource and can provide OEMs a complete and proven
anode solution using both non-Chinese sourced feedstock and
value-added anode material.
Europe
is considered a top jurisdiction in which to locate the BAF and
would position NextSource to provide automotive manufacturers a
complete and proven anode solution using 100% non-Chinese sourced
graphite.
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. Commissioning of Phase 1 of the
Molo mine is expected in Q2 2022.
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.
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”, or
“should” occur. Forward-looking statements in this
release include statements regarding, among others; the Molo
Graphite Project, successful and on-budget construction of the Molo
Graphite Project and SPG plant, estimated future production from
the Molo Graphite Project, completion of any technical studies and
expansion of the Molo Graphite Project, any and all other 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.. 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.