Electra Battery Materials Corp Stock Price, News & Analysis

Electra Battery Materials (NASDAQ: ELBM) has announced a comprehensive financial restructuring plan including a debt-to-equity conversion and a US$30 million financing initiative. The company will convert approximately US$40 million of its outstanding Notes into equity at US$0.60 per share, reducing total debt by 60% to about US$27 million.

The financing package includes a US$30 million Unit offering at US$0.75 per Unit, with each Unit comprising one common share and one warrant exercisable at US$1.25. The Lenders have committed US$10 million to this financing and are providing a US$2 million bridge loan. The restructuring will allow Electra to advance North America's first cobalt sulfate refinery, strengthening domestic battery materials supply chains.

Electra Battery Materials (NASDAQ: ELBM) has filed its Q2 2025 financial results, highlighting key operational developments in its battery materials business. The company initiated early works at its North America's only cobalt sulfate refinery, began testing North American cobalt feedstock sources, and completed a feasibility study for a new battery recycling facility in Ontario.

The company reported a cash position of C$3 million at quarter-end and received a temporary waiver from debtholders to reduce minimum liquidity requirements to US$1 million. Electra is in preliminary discussions regarding potential transactions, including debt equitization, to strengthen its liquidity position.

Notable progress includes the advancement of the Aki Battery Recycling joint venture with Three Fires Group, positioning it to become Canada's first Indigenous-led lithium-ion battery recycling initiative.

Electra Battery Materials (NASDAQ: ELBM) has initiated metallurgical testing of cobalt feedstock from two strategic North American sources: the historic Cobalt Camp in Ontario and the Iron Creek project in Idaho. The testing program aims to diversify the company's feedstock pipeline for its cobalt refinery while maintaining existing partnerships with Glencore and ERG.

The Iron Creek project contains an Indicated mineral resource of 4.4M tonnes grading 0.19% cobalt and 0.73% copper, plus an Inferred resource of 2.2M tonnes grading 0.08% cobalt and 1.34% copper. Preliminary results are expected by end-2025, potentially leading to modifications including a pressure oxidation circuit.

Additionally, Electra announced an ATM offering agreement with H.C. Wainwright & Co. to sell up to US$5.5 million in common shares. The company has a long-term offtake agreement with LG Energy Solution for up to 80% of refinery output over five years.

Electra Battery Materials (NASDAQ: ELBM) has initiated an early works program at its cobalt refinery near Toronto, marking a significant step toward restarting North America's only cobalt refinery. The C$750,000 program focuses on preparing the solvent extraction (SX) facility and includes relocating equipment, pouring concrete bases, and completing structural roofing work. This follows a previous C$200,000 investment in site infrastructure. The project is partially funded by a US$20 million U.S. Department of Defense award and support from Canada's Strategic Innovation Fund. The initiative demonstrates Electra's commitment to establishing a domestic battery materials supply chain and follows a temporary construction pause in 2023. The company is actively working to secure the remaining financing needed for full commercial operation of its battery-grade cobalt sulfate refinery.

Electra Battery Materials (NASDAQ: ELBM) and Three Fires Group announced major progress in their Aki Battery Recycling joint venture, Canada's first Indigenous-led lithium-ion battery recycling initiative. The venture, launched in 2024, appointed Reggie George as President and Andre Marais as Director of Strategy. The facility will process battery waste into high-grade materials and black mass, which will be refined at Electra's facility near Toronto. The initial phase aims to recycle enough battery scrap for 100,000 new EVs annually. The project will address Ontario's growing battery waste challenge, projected to reach 30,000 tonnes annually by 2030. Operating on a tolling fee basis, Aki will establish a domestic closed-loop supply chain, reducing reliance on offshore processing. The venture combines Indigenous leadership with environmental stewardship, focusing on creating long-term benefits for First Nations communities while strengthening Canada's battery supply chain.

Electra Battery Materials (NASDAQ: ELBM) has completed a Class 3 Engineering Study for a modular battery recycling facility to be built next to its cobalt sulfate refinery near Toronto. The facility will recover lithium, nickel, cobalt, manganese, and graphite from battery scrap and end-of-life batteries using Electra's proprietary hydrometallurgical process. The project is strengthened by a partnership with Aki Battery Recycling, a majority Indigenous-owned joint venture with Three Fires Group, which will provide black mass feedstock. The recycling facility will integrate with Electra's existing cobalt refinery, which has received backing from both the Canadian government and U.S. Department of Defense. This initiative aims to establish a closed-loop, domestic battery materials supply chain in North America, reducing dependence on foreign processing and supporting energy independence from China's dominant position in critical mineral processing.

Electra Battery Materials (NASDAQ: ELBM) welcomes Ontario's new C$500 million Critical Minerals Processing Fund, announced in the 2025 provincial budget. This initiative aims to strengthen domestic critical mineral processing capabilities and support the region's growing EV and battery manufacturing ecosystem.

At the 2025 SelectUSA Investment Summit, CEO Trent Mell engaged with key stakeholders, including U.S. and Canadian ambassadors, highlighting the bilateral focus on reducing foreign dependence on critical minerals. Electra, operating the only cobalt sulfate refinery in North America, positions itself as a crucial player in building a resilient domestic battery materials supply chain, particularly in response to China's dominance in critical mineral processing.

Electra Battery Materials (NASDAQ: ELBM) has announced that its previously announced non-brokered private placement offering is now fully subscribed and allocated. The company's CFO Marty Rendall indicated that the strong investor interest demonstrates confidence in their strategy.

The net proceeds from the offering will be utilized to advance the Company's Refinery project in Temiskaming Shores, Ontario, and for general corporate purposes. The completion of the offering remains subject to regulatory approvals and customary closing documentation.

Electra Battery Materials (NASDAQ: ELBM) has announced a non-brokered private placement offering to raise up to US$3.5 million. The company will issue units at US$1.12 per unit, with each unit comprising one common share and one transferable warrant.

The warrants will allow holders to purchase additional common shares at US$1.40 for 18 months following the issue date. The proceeds will be used to advance the Company's Refinery project in Temiskaming Shores, Ontario, and for general corporate purposes.

The offering is available to Canadian investors (except Quebec) under the listed issuer financing exemption, and to international investors. Securities issued under the Listed Issuer Financing Exemption will be freely tradeable in Canada without a hold period, while other securities will have a four-month hold period.