Core Viewpoint - Electra Battery Materials Corporation is initiating metallurgical testing on cobalt feedstock from two North American sources to enhance its cobalt refinery feedstock pipeline and support the development of a resilient critical minerals supply chain in North America [1][2]. Group 1: Cobalt Feedstock Testing - The initiative aims to integrate domestic cobalt sources from the historic Cobalt Camp in Ontario and the Iron Creek project in Idaho, supplementing existing global supply agreements [1][2]. - Preliminary results from the North American feedstock program are expected by the end of 2025, which will inform potential modifications to the processing flowsheet [3][5]. - The in-house laboratory is installing equipment to evaluate new feedstocks, focusing on processing arsenic-bearing polymetallic sulfide materials [3][4]. Group 2: Strategic Importance - The initiative aligns with U.S. and Canadian government efforts to localize critical mineral supply chains and reduce reliance on foreign processing, particularly from China [6]. - Electra's refinery is positioned as a foundational element of the North American battery ecosystem, designed to adapt to changing regional feedstock and market needs [6]. Group 3: Iron Creek Project - The Iron Creek project is located in the Idaho Cobalt Belt and has outlined an Indicated mineral resource of 4.4 million tonnes grading 0.19% cobalt and 0.73% copper [10]. - The project is a key component of Electra's strategy to establish a fully integrated North American supply chain for battery-grade cobalt [12]. Group 4: Financial Update - Electra has entered into an At The Market Offering Agreement with H.C. Wainwright & Co. to offer common shares with an aggregate offering price of up to US$5,500,000 [13][14].
Electra Begins Testing North American Feedstock for Cobalt Refinery