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 > refinery update

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Comment by dothemathpeopleon Feb 17, 2022 10:58am

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Post# 34438043

RE:refinery update

You missed a few "choice" quotes;

"confirming that the project remains on budget and on schedule for a December, 2022, commissioning". Commissioning is not completing.

"Electra plans to build a battery materials park". Not "has begun to build", not "is building".

"We have completed procurement activities on key equipment and critical path items and the team is now preparing for the commencement of spring construction activities." So, construction begins in spring, fingers crossed.

Construction of the new solvent extraction building and crystallization facility is scheduled to commence at the end of Q1, with major mechanical installations and overland pipe installations forecast to start in Q2;

So, they will start the construction of this building at the end of Q1, and then install the mechanical in the very next quarter? Thats some super fast building erection.

"The evolution towards lower cobalt content in the dominant EV [electric vehicle] batteries will be more than offset by larger battery packs and growing adoption rates". Trent is finally speaking to the elephant in the room for cobalt companies hitching their wagon to EV; diminishing cobalt content in battery tech. At the pace this company moves, will they miss the boat? Will they be able to keep up with their own "adoption rates" of the new technology? Will they have to retrofit again?

Commissioning is the process of planning, documenting, scheduling, testing, adjusting, verifying, and training, to provide a facility that operates as a fully functional system per the Owner's Project Requirements. so...?

"Leveraging the company's own mining assets and business partners"; the company has an offtake agreement with Glencore for their cobalt concentrates out of the DRC. They also have the Iron Creek property, that is not a mine. So what do they mean by "leveraging" their mining assets"? Do they mean the cobalt assets in Ontario that they WROTE OFF DOWN TO $1? Almost $40M in write offs? Or the Iron Creek property, that has no processing facility anywhere close? Or do they mean the DRC cobalt cons from Glencore? Humph.

I just cannot imagine this facility being ready anytime in 2022. The way they push timelines and deadlines, maybe mid 2023? More realistic?