Integrity Capital Group has published its August 2026 Update Report on Electra Battery Materials Corp. (TSX.V/NASDAQ: ELBM), examining the company’s transition from critical materials developer to North American critical materials supplier.
Electra is advancing construction of its fully funded and permitted cobalt sulphate refinery in Northern Ontario, which is expected to become the only such refinery in North America. The $100 million project remains on schedule and on budget, with commissioning expected to begin in Q3 2027 and commercial production in Q4 2027.
The report also examines Electra’s LG Energy Solution off-take agreement, potential expansion into battery-grade nickel refining and black mass recycling, and the growing strategic importance of establishing a North American critical minerals supply chain.
Integrity Capital Group maintains a BUY rating on ELBM with a 12-month target price of C$2.10 per share (US$1.50).
View full report: ELBM Update Report August 2026
