Electra Advances Cobalt Refinery Construction with Major Tender

Electra Battery Materials Corp ( (TSE:ELBM) ) has shared an update.

Electra Battery Materials Corporation has issued a major tender package for mechanical, piping, electrical, and instrumentation work as part of its cobalt refinery construction in Temiskaming Shores, Ontario. This marks a significant step towards full construction mobilization, with the refinery set to be North America’s first cobalt sulfate refinery. The tender issuance indicates Electra’s readiness to advance construction, supported by project financing and completed equipment procurement, with commissioning targeted for 2027.

The most recent analyst rating on (TSE:ELBM) stock is a Buy with a C$2.20 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 TSE:ELBM Stock

According to Spark, TipRanks’ AI Analyst, TSE:ELBM is a Underperform.

Electra Battery Materials Corp’s overall stock score is low due to its severe financial difficulties, including no revenue and high losses, and negative valuation metrics. While technical analysis indicates a bearish trend, recent corporate events show potential for future growth, but they are insufficient to offset current financial and operational challenges.

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

More about Electra Battery Materials Corp

Electra Battery Materials Corporation is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The company focuses on constructing North America’s only cobalt sulfate refinery, aiming to reduce reliance on foreign supply chains. Electra also holds significant land in Idaho’s Cobalt Belt and is exploring black mass recycling and nickel refining opportunities.

Average Trading Volume: 575,388

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$133.1M

See more data about ELBM stock on TipRanks’ Stock Analysis page.