RE: TRAIIN LEAVING THE STATION27 May 2021 23:17
Dunk1973,
NextSource is one the the two investments of VisionBlue, created by Sir Mick Davis, former chief executive officer of Xstrata plc, who launched an investment company focused on battery minerals and has made its first strategic financing move in a graphite mine in Madagascar.
The new company is called Vision Blue Resources. It has said that it intends to capitalize on the structural change in battery mineral demand now under way globally, by acquiring a portfolio of strategically significant investments in battery mineral assets and by capturing opportunities linked to electric vehicles and grid storage growth.
Davis has raised an initial $60 million, of which $29.5 million has now been invested in NextSource Materials, based in Toronto in Canada, which is developing the Molo graphite mine. The proceeds will be used to bring the Molo mine into production, with targeted completion in the first half of 2022, the company said.
Vision Blue is targeting investments in companies in established mining jurisdictions, and our FAR was the second one he invested and will continue to invest.
And, it is great to see that he got already two contracts for NextSource; the first one with supplier to Tesla and now this German Thyssenkrupp..and their share went stratospheric in the past few weeks. I expect the same reaction when he gets us contracts.
Have a look at their 1 Year chart:
https://www.google.com/search?q=nextsource+share+price&rlz=1CABUSA_enGB905&oq=nextsource+share+price&aqs=chrome..69i57.5454j0j15&sourceid=chrome&ie=UTF-8