NextSource Materials Bolsters Top Management Team for Next Phase of Growth
NextSource Materials Bolsters Top Management
Team for Next Phase of Growth
NEWS RELEASE – TORONTO, May 28, 2024
NextSource Materials Inc. (TSX:NEXT ) (OTCQB:NSRCF) (“NextSource” or the “Company”)
confirms changes to its top management team ahead of the next phase of the Company’s global
growth strategy.
The Board of NextSource is pleased to announce the appointment of Hanré Rossouw as President
and Chief Executive Officer (“CEO”) effective November 1st, 2024, with Hanré initially joining the
Board as a Director from September 1st, 2024.
Hanré joins NextSource from his role as Executive Director and Chief Financial Officer of Sasol
Limited with extensive experience in the global natural resources industry over the last 25 years. A
British and South African national, Hanré has held senior p ositions in leading global mining and
investment companies where his roles involved business development, M&A, capital markets,
asset management and growth optimization.
Craig Scherba, current NextSource President and CEO, has achieved the vision set out by the
Company’s founders who developed the Molo graphite deposit in Madagascar: to bring the Molo
mine into production, establish a value enhancing downstream business an d develop a customer
base with the automotive OEM supply chain. Effective November 1st, 2024 Craig will continue as a
Director and Chief Development Officer of NextSource to focus on developing strategy, managing
offtake negotiations and expanding the Company’s OEM relationships around the world.
Chair of the Board, Sir Mick Davis, commented:
“The Company has built significant optionality under Craig’s committed stewardship and is poised
for its next phase of growth as a key player in the global supply of graphite products; I am delighted
that we continue to benefit from his invaluable support as a Director and Chief Development Officer.
On behalf of the Board, we look forward to working with Hanré in the years ahead to support
expansion of mine output, deliver a build-out of downstream options and manage a growing capital
base.”
President and CEO, Craig Scherba, commented:
“I am delighted to welcome Hanré to NextSource to support the next stage of the Company’s
journey to becoming a vertically integrated large-scale producer of value added graphite products.
His skill set fits with the priorities of the coming decade in terms of scaling the business to satisfy
the decarbonization mission of the battery industry.”
Hanré Rossouw, said:
“Embracing an electrified future is a critical route to decarbonization, but building a mining and
processing business with global operations is a significant undertaking. NextSource possesses
unique fundamentals – a large-scale, high-quality resource, with downstream growth options and
strong network of partners – making the company a highly attractive value proposition with
substantial upside optionality. I look forward to supporting the Company and its stakeholders in
building a sustainable future and es pecially working with Craig Scherba and the management
team.”
Prior to Sasol Limited, Hanré was Chief Financial Officer and Executive Director of Royal Bafokeng
Platinum between October 2018 and March 2022 having joined after 5 years as a portfolio manager
at Investec Asset Management. During nearly a decade at Xstra ta plc, Hanré was latterly CFO of
the Alloys Division having been part of the small head office team which completed numerous
international transactions and associated fundraisings as part of a corporate development plan
which grew the market capitalizatio n fivefold during his tenure. Previously, Hanré worked at both
Accenture and as a project manager with De Beers Group having started in the mining industry as
a metallurgist with Anglo American in 1998. Hanré studied Chemical Engineering at Stellenbosch
University and Economics at the University of South Africa as well as completing an MBA at the
University of Oxford’s Said Business School.
ABOUT NEXTSOURCE MATERIALS INC.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada
that is intent on becoming a vertically integrated global supplier of battery materials through the
mining and value-added processing of graphite and other minerals.
The Company’s Molo Graphite Mine in Madagascar is one of the largest known and highest-quality
graphite resources globally, and the only one with SuperFlake® graphite. The Molo Graphite Mine
has begun production, with Phase 1 mine operations currently undergoing ramp-up to reach its
nameplate production capacity of 17,000 tpa of graphite concentrate.
The Company is also developing a significant downstream graphite value -add business through
the staged rollout of Battery Anode Facilities capable of large -scale production of coated,
spheronized and purified graphite for direct delivery to battery and aut omotive customers, outside
of existing Asian supply chains, in a fully transparent and traceable manner.
NextSource Materials is listed on the Toronto Stock Exchange under the symbol “NEXT” and on
the OTCQB under the symbol “NSRCF".
Investors: Brent Nykoliation Executive Vice President +1.416.364.4911
Media: Michael Oke/Andy Mills +44 207 321 0000 [email protected]
CAUTIONARY NOTE
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 include any statements regarding, among others, timing of on-site construction including the processing
plant, process improvements and mine plant adjustments as well as production estimates and timing thereof, the rollout of
Battery Anode Facilities including the capabilities and the timing thereof. These statements are based on current
expectations, estimates and assumptions that involv e 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. No assurance can be given tha t 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 because of new
information, future events or otherwise, except as may be required by applicable securities law s. 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.