NextSource Materials Inc 6-K, filed May 11, 2021
NextSource Materials Inc. (NSRCF)
6-K
2021-05-11
For: 2021-05-11
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April 12, 2026
About this 6-K
NextSource Materials Inc filed this 6-K on May 11, 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 May,
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
May 11, 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.
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NEXTSOURCE
MATERIALS INC.
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Date: May 11,
2021
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By:
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/s/ Marc Johnson
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Marc Johnson |
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Chief Financial Officer |
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Exhibit
99.1
Key Milestone Reached as NextSource Materials Begins Procurement of
Processing Plant Equipment for its Molo Graphite Mine in
Madagascar
NEWS RELEASE – TORONTO, May 11,
2021
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF)
(“NextSource” or the “Company”) is pleased
to announce it has commenced procurement for its Molo graphite mine
in Madagascar, ahead of expected mine construction in August 2021
and mine commissioning in April 2022.
Since
securing a funding package from its new strategic investor, Vision
Blue Resources Limited, the Company has been working diligently
with its EPC (engineering, procurement and construction) firm to
complete all engineering design preparation work and final project
costing estimates.
Purchase
orders have now been placed for the following essential processing
plant equipment:
●
Primary, flash
flotation and attrition mills
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Flotation columns
and cleaning circuits
●
Screeners, crusher
and feeders
The
fabrication and construction of the Molo graphite mine is on
schedule, with commissioning targeted for April 2022. The
processing plant is designed to process 240,000 tpa of ore, and
produce approximately 17,000 tpa of high-quality SuperFlake®
graphite concentrate.
Mine-site
construction activities are scheduled to begin in August 2021. The
plant equipment is expected to begin arriving in Madagascar in Q4
2021 followed by site installation in Q1 2022. Mine commissioning
is expected to begin in April 2022, followed by a ramp up to a
Phase 1 processing plant capacity of 240,000 tpa of ore producing
approximately 17,000 tpa of high-quality SuperFlake® graphite
concentrate.
President
and CEO, Craig Scherba P. Geo., commented,
“We have reached yet another key milestone with the
procurement of key items that will form the backbone of the Molo
processing plant. This is a testament to the hard work and
diligence of our technical team.”
ABOUT SUPERFLAKE® GRAPHITE
As
announced in November 2015, independent testing by various
third-party end users of flake graphite confirmed that
NextSource’s SuperFlake® graphite meets or exceeds
quality requirements for all major end-markets for natural flake
graphite. The major end-markets are refractories, anode material
for lithium-ion batteries, specialty graphite foils used as
essential components in the chemical, aeronautical and
fire-retardant industries, and graphene in high-end ink and
substrate applications.
As
detailed in the Molo 2019 Feasibility Study, SuperFlake®
graphite concentrate can achieve 98% carbon (C) purity with simple
flotation.
SuperFlake®
graphite concentrate has excellent flake size distribution that is
well above the global average, with 46.4 percent being classified
as +80 (large), +65 (extra large) and +48 (jumbo) mesh in flake
size. Specifically, 23.6 percent of SuperFlake® graphite
concentrate is +48 mesh and greater in size. It has excellent
thermal expansion, can be easily upgraded to 99.97% purity (battery
grade), contains no deleterious substances and has high
crystallinity.
SuperFlake®
is a registered trademark in the United States, Canada, Japan,
South Korea, U.K. and the European Union. These key jurisdictions
represent the top demand markets for flake graphite and the
locations where NextSource intends to sell its SuperFlake®
graphite and anode material.
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.
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 will enter into production in phases and utilize an
all-modular build approach to construct the Molo graphite mine.
Mine commissioning is expected to begin in April 2022 followed by a
ramp up to a Phase 1 processing plant capacity of 240,000 tpa of
ore, producing approximately 17,000 tpa of high-quality
SuperFlake® graphite concentrate.
The
Company’s Molo graphite project in Madagascar is regarded as
one of the largest and highest-quality graphite deposits globally
and the only project with SuperFlake® graphite. With
expected low-cost operations, and both its mining and environmental
licenses in place, NextSource Materials has forged strategic and
exclusive partnerships with key supply chain participants to
provide graphite-based anode material to international OEMs for
lithium-ion and fuel cell applications, and graphite for high-end,
value-added applications where graphite is an essential
material.
NextSource
Materials is listed on the Toronto Stock Exchange (TSX) under the
symbol “NEXT” and on the OTCQB under the symbol
“NSRCF"
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” ("forward-looking
statements") within the meaning of applicable Canadian and United
States securities legislation. Readers are cautioned not to place
undue reliance on such forward-looking statements. Forward-looking
statements in this release include statements regarding the
procurement process and timing of such items in this process, a
sales agreement with offtake partners, collaboration agreements to
build a value-added SPG (anode) facility, time to commissioning the
BAF, the demand for EVs and HEVs, the use of SuperFlake, ,
successful and on-budget construction of the Molo Graphite Project,
SPG plant and BAF, sourcing the funds needed to construct the BAF,
expansion of the BAF, estimated future production from the Molo
Graphite Project, completion of the technical studies and expansion
of the Molo Graphite Project. These statements are based on current
expectations, estimates and assumptions that involve a number of
risks, which could cause actual results to vary and, in some
instances, to differ materially from those anticipated by the
Company and described in the forward-looking statements contained
in this press release, including the risk that the Molo graphite
mine is not built on the expected time and cost estimates, that the
mineral reserve and resource estimates for the Molo Graphite
Project are incorrect, that expected recoveries and costs to
produce SPG are incorrect, and that permits and licences to operate
the Molo Graphite Project may not be renewed or may be revoked. No
assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur or, if any of
them do so, what benefits the Company will derive there from. The
forward-looking statements contained in this news release are made
as at the date of this news release and the Company does not
undertake any obligation to update publicly or to revise any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities laws.