Electra Battery Materials Corp V.ELBM

As per Financial Statement financing will be in Q3

[niceindy]

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

[Goldfather]

Thanks Indy ! Good find, I didn't catch this as of 3/31/21 by the Company on their WS !..... gee and for several weeks/months past, we've been led to believe it's last week June.... maybe early July... Sure that's fine. ....then he starts with the double talk ! .... now it's back to Q3 21' , aka September 30. Last day. Of course !  .... we've seen this before

[Goatburner]

Good morning goldfather and everybody else reading this. After reading several recent posts after the last corporate interview - I completely understand the frustration. And yes, it's okay to vent, it's healthy and cathartic. But having said that, this is indeed the real world, and we do have to roll with the punches. Things don't always go the way we envision. But this ex military

[DoekeGouda]

Goatburner, wise words again. I totally agree, we have to be patient. Have a good day and greetings from Holland

[dothemathpeople]

Who would finance this with debt?  What assets are there to back anything? What revenue or presumption of them awaits? Only equity financing makes sense, no?  I see how the fcc boys are setting this up, wonder who's goinna knock it down?  There are SO many things that just don't line up properly.  IF they ever get this white elephant breathing again, it will be many