Electra Battery Materials Initiates Early Works for Cobalt Refinery Restart

Electra Battery Materials Corp ( (TSE:ELBM) ) just unveiled an announcement.

Electra Battery Materials Corporation has initiated an early works program at its cobalt refinery north of Toronto, aiming to restart full-scale construction. This move is supported by strategic funding from the U.S. and Canadian governments, highlighting the project’s importance in strengthening North America’s critical minerals supply chain. The program focuses on advancing infrastructure in the solvent extraction area, a key component of the refinery’s hydrometallurgical circuit, and is part of Electra’s disciplined approach to maintaining project momentum while finalizing funding. The initiative underscores Electra’s commitment to delivering North America’s only battery-grade cobalt refinery, offering a cleaner, traceable alternative to overseas supply chains.

The most recent analyst rating on (TSE:ELBM) stock is a Buy with a C$1.00 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 is focused on developing North America’s only cobalt sulfate refinery and is executing a phased strategy to onshore critical minerals refining, reducing reliance on foreign supply chains. Electra’s strategy also includes nickel refining and battery recycling, with growth projects such as integrating black mass recycling and exploring cobalt and nickel sulfate production potential in North America.

Average Trading Volume: 37,810

Technical Sentiment Signal: Sell

Current Market Cap: C$26.04M

For an in-depth examination of ELBM stock, go to TipRanks’ Overview page.