Electra Battery Materials Corporation provided a construction progress update on its cobalt sulfate refinery in Ontario, confirming advancement beyond detailed engineering in line with the US$73 million budget and Q2 2027 mechanical completion target. The company also disclosed a Nasdaq notice for non-compliance with the US$1.00 minimum bid price requirement, granting 180 days to September 14, 2026, to regain compliance with no immediate trading impact.
Key takeaways
Construction progress includes completed fire suppression system design, P&ID integration into 3D model, tailings testwork, SX building anchor bolts and raffinate tanks positioned, and effluent tanks installed.
Purchase orders awarded for key systems totaling C$1.9 million, with majority of major equipment secured and delivered to site.
Board approved US$73 million construction budget targeting mechanical completion in Q2 2027 and commissioning in late 2026.
Nasdaq notice received March 16, 2026, for 30-day minimum bid price below US$1.00; 180 days to comply by September 14, 2026, or potential additional 180 days.