Electra Advances Cobalt Refinery Build as Nasdaq Flags Bid-Price Non-Compliance

An update from Electra Battery Materials Corp ( (TSE:ELBM) ) is now available.

Electra Battery Materials Corp. reported steady construction progress at its cobalt sulfate refinery project in Ontario, which is slated to become North America’s only battery-grade cobalt sulfate production facility. Key engineering milestones, infrastructure installations and procurement of major mechanical and electrical equipment are largely completed or underway, supporting a construction plan that targets mechanical completion in the second quarter of 2027 and commissioning beginning in late 2026.

Recent work includes finalizing fire suppression and piping and instrumentation designs, integrating them into a 3D plant model, completing tailings area testwork, and installing critical tanks and foundations in the solvent extraction building and effluent management systems. The board-approved US$73 million construction budget and the securing of key process systems, worth about C$1.9 million in recent awards, aim to reduce supply chain risk and solidify Electra’s role in the North American battery materials supply chain once production ramps up in 2027.

Electra also disclosed that it has received a notice from Nasdaq for non-compliance with the US$1.00 minimum bid price requirement after its shares traded below that threshold for 30 consecutive business days. The notice does not immediately affect the listing or trading of its shares, and the company has until mid-September 2026 to regain compliance, meaning trading continues uninterrupted while the firm advances its refinery build-out.

The most recent analyst rating on (TSE:ELBM) stock is a Buy with a C$2.10 price target. To see the full list of analyst forecasts on Electra Battery Materials Corp stock, see the TSE:ELBM Stock Forecast page.

Spark’s Take on ELBM Stock

According to Spark, TipRanks’ AI Analyst, ELBM is a Neutral.

Overall score is held down primarily by weak financial performance—no revenue, sizable losses, and persistent cash burn alongside rising leverage. Technicals are a partial offset, showing a constructive uptrend and positive momentum. Valuation remains challenging due to negative earnings and no indicated dividend yield.

To see Spark’s full report on ELBM stock, click here.

More about Electra Battery Materials Corp

Electra Battery Materials Corp. is a North American critical minerals refining company focused on producing battery-grade cobalt sulfate. The company is developing what is expected to be the only cobalt sulfate refinery in North America, targeting supply to the region’s electric vehicle and energy storage markets.

Average Trading Volume: 233,069

Technical Sentiment Signal: Sell

Current Market Cap: C$86.1M

For a thorough assessment of ELBM stock, go to TipRanks’ Stock Analysis page.