NextSource Materials | Proposed Saudi Arabian battery anode facility
NextSource has published an important update on its global active anode material strategy which follows hard on the heels of the proposed IFC debt funding for the expansion of the company's Molo graphite mine to 150kt pa. NextSource has released the results of a study on a potential 20kt pa Battery Anode Facility to be built in Saudi Arabia with contemplated expansion to 100kt pa. The initial plant could have an unlevered post-tax net present value of US$677m, using an 8% discount rate, generating cUS$130m in annual EBITDA. This announcement confirms the progress NextSource is making on executing its vertical integration strategy to produce battery grade processed graphite, ex China and strongly indicates that the first 20kt pa scale plant is likely to be built in Saudi Arabia. On our calculations NextSource is trading on a fraction of its net asset value and is heavily discounted in relation to peers.
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