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Electra Battery Materials Corp V.ELBM

Alternate Symbol(s):  ELBM

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.


TSXV:ELBM - Post by User

Post by niceindyon Jun 22, 2021 9:37pm
404 Views
Post# 33432108

As per Financial Statement financing will be in Q3

As per Financial Statement financing will be in Q3

The  Company  has  planned to  finance  the  refinery  expansion capital  costs  with a  mix  of  debt  and equity,  weighted more  heavily  towards  debt  instruments.   With the  equity  items  and Government  investment  noted above,  the  nondebt  portion of the  financing  package  is  effectively  in place.   In March 2021,  the  Company  announced it  had entered an exclusivity  agreement  with a  leading  financing  institution to provide  US$45  million  of debt  financing  and was entering  the  due  diligence  phase.   The  due  diligence  process  is  in progress  and the  Company  anticipates  completing the  debt  financing  process  by  early  summer.  This  debt  component  would be  the  final  piece  required for  the  capital costs  to be  fully  financed.  


The  current estimated  timeline  to  bring  the  refinery  into production is  outlined below:
•  Q3 2021 – Complete lender  due  diligence  and finalize  project  financing  
•  Q3 2021 – Receive final  permit  amendment  approvals  necessary  to  commence  on-site  construction  
•  Q3 2021 – Complete  detailed engineering  and commence  construction activities
•  Q4 2022 – Commencement  of  production

The  Company  continues  to make  progress  towards  achieving  its  objective  of providing  the  world’s  most  sustainable cobalt for the  electric  vehicle  market.  The  Company  continues  to work  with engineering  firms,  its  commercial  partners, process  experts  and financial  advisers  to finalize  and execute  on the  plans  to recommission and expand the Refinery.

https://www.firstcobalt.com/_resources/financials/FCC-Q1-MDA-2021-03-31-FINAL.pdf?v=0.600

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