![]() ![]() These compare to a net loss of $15.5 million or $0.55 per share for Q4 2021. ![]() Net income for the period was $10.3 million or $0.31 per share. ![]() Mell concluded, “Key to our ongoing success will be to leverage our hydrometallurgical process expertise and the benefits of operating in North American jurisdictions where low-carbon production is possible due to an abundance of renewable energy sources.”ĮLECTRA Q4 2022 HIGHLIGHTS AND DEVELOPMENTS “Over the longer term, we are encouraged by the opportunity to expand into the production of related battery materials, including nickel sulfate at our refinery complex in Ontario, and by the prospects of developing a new cobalt sulfate refinery as part of the battery industrial park being built in Bécancour, Quebec.” Most notably, we anticipate completion of a re-baseline engineering report on our refinery project as well as the first shipment of products produced in our black mass trial in the near term. Mell added, ”Although some of our progress was impeded by supply chain disruptions, receipt of damaged equipment, and the impact of inflationary price pressures on our refinery project, we remain particularly encouraged by our near- and long-term prospects. Inflation Reduction Act, which has provided a boost for our industry and includes a number of incentives that will spur further growth of the EV supply chain in North America for years to come.” Equally significant, we benefitted from the adoption of the U.S. “Most notably, we made considerable progress towards our vision of commissioning North America’s first cobalt sulfate refinery, we launched a plant-scale black mass recycling trial at our refinery complex north of Toronto that has already produced a number of encouraging results, and we signed a three-year strategic supply agreement with LG Energy Solution, the world’s second-largest EV battery manufacturer. “2022 was a remarkable year for Electra, filled with achievements and developments that augur extremely well for our Company and our prospects of becoming a key link in the North American EV battery supply chain,” said Trent Mell, Electra’s CEO. All amounts are in Canadian currency unless otherwise stated. TORONTO-( BUSINESS WIRE)- Electra Battery Materials Corporation (NASDAQ: ELBM TSX-V: ELBM) (“Electra” or the “Company”) today reported its financial results for the quarter and year ended December 31, 2022, and provided an update on the commissioning of its cobalt refinery and its black mass recycling trial. ![]()
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