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Electra Battery Materials Finalizes C$17.5 Million Government Funding for Ontario Refinery

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Electra Battery Materials (ELBM.V) has finalized definitive agreements to secure C$17.5 million on funding from the government-backed Invest Ontario to advance construction of the company's cobalt sulfate refinery in Ontario.

Electra expects the facility to become the only refinery in North America producing battery-grade cobalt sulfate when it starts commercial production in the fourth quarter of 2027, the company said Wednesday.

The company said it has secured 100% of the cobalt feedstock required for the facility's commissioning and ramp-up through 2027 under a supply agreement with Glencore.

"At a time when secure supply chains have never mattered more, Electra's cobalt refinery will onshore a key capability needed to support North America's manufacturing sectors," said Vic Fedeli, Ontario's minister of economic development, job creation and trade.

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Mining & Metals

Faraday Copper Shareholders Approve Share Issuance for San Manuel Project Acquisition

Faraday Copper (FDY.TO) said Tuesday that its shareholders approved the offering of shares related to the previously announced acquisition of the San Manuel project from a BHP Group subsidiary.The resolution required approval by a simple majority of votes cast by disinterested shareholders at a special meeting.Faraday said about 188.3 million common shares were voted at the meeting, representing 64.32% of its issued and outstanding shares, excluding shares beneficially owned or controlled by BHP or its subsidiaries.The transaction is expected to close by the end of the third quarter of 2026.

$FDY.TO
Mining & Metals

Grey Wolf Animal Health Posts Flat Earnings, Higher Revenue for the Second Quarter

Grey Wolf Animal Health (WOLF.V) after trade Tuesday reported second-quarter earnings per share of C$0.02, unchanged year over year.Revenue for the quarter ended June 30 rose 11% to C$10.6 million from C$9.5 million a year earlier.Pharmacy revenue increased 9.3% to C$6.7 million and Animal Health revenue grew 14% to C$3.9 million during the quarter, the company added.FactSet figures weren't available.The company's shares closed down C$0.05, or 3%, to C$1.60 on the TSX Venture Exchange.

$WOLF.V
Mining & Metals

Lithium Ionic Sells Salinas Properties to PLS For $30 Million

Lithium Ionic (LTH.V) sold its Salinas group of lithium properties, including Baixa Grande in Brazil, to PLS Group for $30 million in cash at closing, the company said after trade Tuesday.A further $7.5 million will be payable subject to certain conditions being met. Lithium Ionic also retains a 2.0% royalty on future spodumene sales from Baixa Grande."The completion of this transaction crystallizes significant value from Salinas while strengthening Lithium Ionic's balance sheet with US$30.0 million in non-dilutive cash proceeds," said Chief Executive Blake Hylands."With this transaction complete, our focus remains squarely on advancing our flagship Bandeira Lithium Project toward a construction decision and our objective of becoming a near-term, low-cost lithium producer," he added.Lithium Ionic shares closed up C$0.035 to C$0.655 on the TSX Venture Exchange.

$LTH.V