(All amounts in US$ unless otherwise stated) TORONTO, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) today announced that its Board of Directors has approved a $73 million construction budget and established an execution schedule to achieve mechanical completion of its cobalt sulfate Refinery north of Toronto, marking a significant step toward bringing North America’s first battery-grade cobalt refinery into operation. Commiss ...

Core Viewpoint - The market anticipates MP Materials Corp. (MP) to report a year-over-year increase in earnings despite lower revenues for the quarter ending December 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The consensus estimate for MP Materials is an earnings per share (EPS) of $0.04, reflecting a year-over-year increase of +133.3%. However, revenues are projected to decline by 2.3% to $59.6 million compared to the same quarter last year [3]. Estimate Revisions - Over the past 30 days, the consensus EPS estimate has been revised down by 23.53%, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4]. Earnings Surprise Prediction - The Most Accurate Estimate for MP Materials is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -127.27%. This suggests a challenging outlook for the company to exceed the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, MP Materials was expected to post a loss of $0.14 per share but delivered a smaller loss of -$0.10, resulting in a positive surprise of +28.57%. Over the last four quarters, the company has beaten consensus EPS estimates twice [13][14]. Overall Assessment - MP Materials does not currently appear to be a strong candidate for an earnings beat, and investors are advised to consider other factors when making decisions regarding the stock ahead of the earnings release [17].

Core Thesis - Ivanhoe Electric Inc. (IE) is positioned as a strategic supplier in the U.S. copper supply chain, driven by increasing demand from electrification, AI data centers, and renewable energy [2] Company Overview - Ivanhoe Electric Inc. is a U.S.-based mineral exploration and development company focused on high-margin critical metals, primarily copper, with additional exposure to gold and silver [2] - The company was founded by mining entrepreneur Robert Friedland and utilizes a technology-driven approach, particularly its proprietary Typhoon™ geophysical surveying system [2] Project Highlights - The flagship Santa Cruz Copper Project in Arizona is expected to produce approximately 72,000 tons per year at low net cash costs, generating a net present value (NPV) of $1.4 billion at $4.25 copper and up to $2.4 billion at current prices, with a 34% internal rate of return (IRR) [3] - The company is advancing toward construction, benefiting from private land ownership that reduces permitting friction [3] - Additional exploration potential exists at Tintic in Utah, Hog Heaven in Montana, and through a joint venture with Ma'aden in Saudi Arabia [3] Financial Position - Ivanhoe Electric is well-capitalized with a $150 million equity raise, a $200 million credit facility, and potential access to up to $825 million of EXIM Bank support, which limits near-term dilution risk [4] - Current valuation primarily reflects the Santa Cruz project, while the Typhoon technology offers a potential second pillar of value, validated through partnerships with Ma'aden and BHP [4] Market Context - The company operates in a market characterized by tightening copper supply, with strong institutional backing and government support, presenting asymmetric upside potential [5] - The focus on technology-driven discovery and U.S.-based copper supply aligns with broader industry trends [6]

Core Viewpoint - South Star Battery Metals Corp. has successfully closed the third and final tranche of its non-brokered private placement, raising a total of C$6,672,000 (approximately US$4,800,000) through the Unit Offering, which will be used for exploration, development, and working capital [2][5]. AGSM Highlights - Shareholders approved all matters at the Annual General and Special Meeting (AGSM), including the closing of the third tranche of the Unit Offering [2][8]. - The third tranche involved the issuance of 22,744,253 units at a price of C$0.15 per unit, generating gross proceeds of C$3,411,638 (approximately US$2,454,416) [2][5]. Unit Offering Details - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of an additional share at C$0.20 for five years [3]. - The total gross proceeds from all tranches of the Unit Offering will be allocated to exploration and development activities, general and administrative expenses, and working capital [4]. Insider Participation - Mr. Tiago Cunha, the Interim CEO, purchased an additional 12,342,087 units in the third tranche, bringing his total ownership to 25,455,552 shares, representing 23.92% of the company's outstanding shares [6]. Finder's Fees - The company paid aggregate finder's fees of C$258,995 (approximately US$186,328) in cash and issued 1,987,722 shares as a finder's fee [7]. Company Overview - South Star Battery Metals Corp. is focused on developing battery-metals projects in the Americas, with its Santa Cruz Graphite Project in Brazil being the first to enter production [10]. - The BamaStar Project in Alabama is also in development, with strong economic results indicated by a pre-tax NPV8% of US$2.4 billion and an IRR of 35% [11].

Financial Data and Key Metrics Changes - 2024 was a year of record profitability for the company, with operating income reaching $316 million, an increase of 13% year-over-year, and earnings per share (EPS) growing 18% to $6.15 [9][22][23] - Operating margin improved to 15% in 2024, achieving the target set for 2025 a year early [8][46] - Full year EBITDA exceeded $400 million, marking the second consecutive year of record EBITDA [9][22] Business Line Data and Key Metrics Changes - Consumer and Specialties segment sales grew 2% for the full year, with operating income increasing by 25% on an underlying basis [25][26] - Engineered Solutions segment saw a 7% increase in operating income despite a 3% decline in sales, driven by strong execution and productivity improvements [30][31] - Specialty Additives sales were down 2% in Q4 due to softer base volumes, but full year sales grew 1% on 3% higher volume [24][25] Market Data and Key Metrics Changes - The commercial construction market weakened, impacting sales in the Engineered Solutions segment, particularly in High Temperature Technologies [7][22] - Environmental and Infrastructure sales grew 4% year-over-year in Q4, with a notable 43% increase in remediation and wastewater treatment [29][30] - Asia foundry volume grew 10% in Q4, driven by increased penetration of products in the region [28][30] Company Strategy and Development Direction - The company aims to grow in consumer-oriented markets, expand core market positions geographically, and continuously introduce innovative higher-margin products [12][18] - Integration of acquired pet litter companies into a unified business called Civo is expected to enhance market presence and drive above-market sales growth [12][13] - Focus on sustainable solutions and innovative technologies is a key part of the growth strategy, with new products expected to positively impact sales [17][18] Management's Comments on Operating Environment and Future Outlook - Management anticipates a stronger year in 2025, projecting sales growth of 3% to 5% [38][40] - The consumer side of the business is expected to remain solid, while the industrial side may experience a slow start but strengthen throughout the year [38][40] - Management is cautious about the Engineered Solutions segment due to uncertainty in end markets but sees potential for improvement as the year progresses [40][42] Other Important Information - The company completed a $75 million share buyback program and authorized a new $200 million repurchase program, reflecting strong cash generation and commitment to returning value to shareholders [9][10] - The company has maintained a strong balance sheet with net leverage at 1.6 times EBITDA and liquidity exceeding $700 million [31][32] Q&A Session Summary Question: Expectations for fiscal 2025 operating margins - Management expects to maintain or improve the 15% operating margin target, with a cautious outlook due to market uncertainties [46][47] Question: Top line growth drivers for Consumer and Specialty - Management projects 4% to 8% growth in the Consumer and Specialties segment, driven by new products and market share gains [48][49] Question: Capital allocation and M&A pipeline - The company is positioned for both shareholder returns and potential acquisitions, with a focus on enhancing growth across all product lines [55][56] Question: Sources of efficiencies in Engineered Solutions - Management highlighted ongoing productivity improvements across the company, with specific gains noted in High Temperature Technologies and Metal Castings [62][66] Question: Details on the sale of refractory assets - The sale was part of a strategic decision to exit a small footprint in China, with production absorbed by other facilities [89][90] Question: Update on talc litigation - Management reported constructive progress in mediation regarding talc litigation, though no specific timeline for resolution was provided [95][96] Question: Expected new PCC startups in 2025 - Management anticipates several new projects in Asia and Europe, focusing on packaging and sustainability initiatives [99][100]