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The latest update is out from Electra Battery Materials Corp ( (TSE:ELBM) ).
Electra Battery Materials Corporation has resumed construction on its cobalt sulfate refinery, securing approximately US$82 million in project financing, including US$48 million from U.S., Canadian, and Ontario governments. This development marks a significant milestone in Electra’s strategy to onshore North America’s critical minerals supply chain, positioning the refinery as the only facility of its kind in the region and one of two major facilities outside China. The refinery is expected to produce 6,500 tonnes of battery-grade cobalt annually, enhancing supply chain resilience for lithium-ion battery manufacturing and related industries.
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 processing industry. The company focuses on producing battery-grade cobalt sulfate, a key component for lithium-ion batteries used in industrial, defense, and energy storage applications. Electra aims to strengthen the domestic supply chain by establishing North America’s first cobalt sulfate refinery.
Average Trading Volume: 534,344
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$126.7M
Find detailed analytics on ELBM stock on TipRanks’ Stock Analysis page.