Electra Battery Materials Corp V.ELBM

Alternate Symbol(s): ELBM

Metals & Mining Industrial Metals & Minerals

Electra Battery Materials Corporation is a Canada-based processor of low-carbon, ethically sourced battery materials. The Company is focused on building a supply of cobalt, nickel and recycled battery materials. It is engaged in the business of battery materials refining, including refining material from mining operations and from the recycling of battery scrap and end of life batteries. It owns two main assets: the refinery located in Ontario, Canada and the Iron Creek cobalt-copper project located in Idaho, United States. Its projects include Ontario Refinery, Recycling, Becancour, North American Nickel and Iron Creek. It is in the process of constructing its expanded hydrometallurgical cobalt refinery, assessing the various optimizations and modular growth scenarios for a recycled battery material (known as black mass) program, and exploring and developing its mineral properties. The Iron Creek Project consists of mining patents and exploration claims over an area of 3,300 hectares.

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Electra Battery Materials Corp

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Post by Skantor18on Nov 10, 2020 7:08pm

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Post# 31875004

First Cobalt Corp. - Thank you

Thank you for participating in the presentation hosted by Red Cloud Financial Services' Oktoberfest Fall Mining Showcase 2020 featuring First Cobalt’s President & CEO, Trent Mell on October 23^rd.

We provided today an update on commercial contracts and metallurgical test work relating to our cobalt refinery.

We have agreed with Glencore to discuss a long-term feed purchase contract rather than the tolling arrangement originally contemplated, providing First Cobalt greater leverage to the cobalt market by entering into offtake contracts with end users directly. The maturity date on the Company’s US$5 million loan with Glencore has been extended by one year to August 2022, which better aligns with refinery commissioning.

In order to secure a diversity of supply, First Cobalt will supplement any feed provided by Glencore with other sources of ethical cobalt. Bench scale testing of cobalt hydroxide feedstock from Glencore’s Katanga Operation (KCC) yielded recoveries in excess of 97%, significantly higher than the 93% recovery assumption in our May engineering study. Timelines for pilot plant completion and submission of permit amendments remain on track while discussions for government support are well advanced

Recently, First Cobalt provided an update on its ongoing engineering studies for its permitted cobalt refinery in Ontario, Canada. We now estimate operating costs of $2.36 per pound of cobalt produced, which represents a 13% reduction that improves refinery margins, enhances project economics, and further solidifies the Refinery’s global competitiveness.

We are also please to announced we completed a Life Cycle Assessment (LCA) which concluded that our ESG credentials would far exceed those of Huayou Cobalt Refinery located in Tongxiang, China, including CO₂ emissions that would be 50% lower. This point has been very well received by the OEMs.

First Cobalt is committed to the sustainable production of cobalt for its essential role in the manufacturing of electric vehicles. The impact of producing cobalt sulfate at First Cobalt’s Canadian refinery rather than through the existing supply chain is the equivalent of taking more than 9,000 internal combustion engines off the road every year.

A replay of the presentation is now live on our website.

We would also like to share with you our corporate video profiling the First Cobalt Refinery (click here) and our updated Corporate Presentation (click here).

If you would like to be added to our email distribution list for upcoming news, please let me know. Should you have any questions, please feel free to email me directly.

Best regards,

Sabrina