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Silver in sixth straight deficit; capital returning to Cobalt‑Gowganda district
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Electra hires veteran cobalt/nickel trader Douglas Geniti as senior commercial advisor
Electra (ELBM) appointed Douglas Geniti as Senior Advisor, Commercial Strategy to lead feedstock strategy, customer engagement and commercial planning as its North American cobalt sulfate refinery advances toward commissioning and production ramp-up in 2027. Geniti brings 35+ years of trading, refining and supply‑chain experience in cobalt and nickel and will support securing feedstock and offtake relationships while Electra targets mechanical completion in Q2 2027 for an initial 5,120 tpa battery‑grade cobalt sulfate plant and studies larger nickel and recycling expansions.
Electra names Peter Rawlins CFO; refinery on schedule and Q2 results filed
Electra (ELBM) appointed Peter Rawlins as CFO effective Aug. 26 — Rawlins brings 20+ years of mining finance and project/capital markets experience to support delivery and financing of the cobalt refinery. The company filed Q2 2026 results saying construction is on schedule and on budget, with early commissioning expected Q4 2026, commercial production targeted Q4 2027, about US$82M of arranged funding (including US$20M U.S. support and C$20M Canadian documentation), ~C$65M of reimbursable government support, C$46M of construction contracts awarded and C$36M cash at June 30.
Electra (ELBM) raises ~$2.1M via ATM; employees bought shares and directors granted DSUs
Electra generated approximately US$2.1M in gross proceeds in Q2 by issuing 3,009,295 shares under its ATM (weighted avg price US$0.68; since-inception ATM avg US$0.88) and paid about US$70k in commissions. Employees purchased 26,256 shares under the Employee Share Purchase Program (with a corresponding 26,256 shares acquired by the company) and the board received 91,954 deferred share units that will be settled in shares when directors leave, aligning insiders with shareholders but adding potential future dilution.