Electra’s Ontario cobalt sulfate refinery has moved beyond detailed engineering, with early works like infrastructure installations, survey layouts and tailings testwork largely complete. Piping and instrumentation design has been finalized and integrated into the 3D plant model, positioning the project to enter its next phase of mechanical installation.

Within the solvent extraction building, anchor bolt foundations for the PLS filter platform are set, raffinate and effluent tanks have been positioned and grouted, and process water infrastructure expanded. Structural pipe racks, clarifier tanks and power upgrades are in place, reducing supply chain risk for upcoming installation activities.

The Board approved a US$73 million construction budget aimed at mechanical completion in Q2 2027, with commissioning activities slated for late 2026 and production ramp-up through 2027. Purchase orders totaling C$1.9 million for the plant control system, bag breaker, neutralization clarifier and SX filters further de-risk the schedule.

Electra received a notice for non-compliance with the US$1.00 minimum bid price requirement on Nasdaq and has until September 14, 2026 to regain compliance by closing at or above US$1.00 for ten consecutive business days. An additional 180-day extension may be available if initial compliance is not achieved.