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The latest announcement is out from NextSource Materials Inc ( (TSE:NEXT) ).
NextSource Materials Inc. has secured a US$20 million credit facility from Vision Blue Resources Limited to support the ramp-up and growth of its Molo Graphite Mine and advance its Battery Anode Facility strategy. This non-dilutive financing aims to enhance the company’s position in the battery materials market, with the facility structured to be drawn down in four tranches and carrying an interest rate of 15% per annum. As Vision Blue holds a significant stake in NextSource, this transaction is classified as a related party transaction but is exempt from minority shareholder approval.
More about NextSource Materials Inc
NextSource Materials Inc. operates in the mining industry and is focused on the production of battery materials, with primary products including graphite from the Molo Graphite Mine. The company is working towards establishing itself as a leader in sustainably produced battery materials.
YTD Price Performance: 9.21%
Average Trading Volume: 88,638
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$145.2M
Learn more about NEXT stock on TipRanks’ Stock Analysis page.
