Electra's name was mentioned in this article. It would certainly help make up the money needed to finish their plant without share dilution. Plus if they make an announcement that they are receiving part of this it will definitely send the share price up.
" The long-awaited Critical Minerals Infrastructure Fund (CMIF) launched on Monday, and several northern Ontario mining companies are hopeful their projects will be selected by Ottawa.
With $1.5 billion available over the next seven years, there is a lot of money at play. Up to $300 million is available in the first call for proposals, which ends in late February.
The program has two streams. One focuses on pre-construction and project development, and the other looks at infrastructure deployment.
It is a cornerstone of Canada's critical minerals strategy, which aims to help the country become a major player in the global mining supply chain as the world tries to move towards a lower-carbon economy.
Selected companies could access up to $50 million in funding per project, a sum large enough to help "unlock" major deposits, according to Canada Nickel CEO Mark Selby.
If it eventually manages to reach full production, that company will be the only cobalt refinery in North America. Cobalt is another important metal found in lithium-ion batteries.
CEO Trent Mell has been eyeing all government programs since the project ran out of funds earlier this summer.
Funding from CMIF would almost be enough to cover the missing $60 million US the company needs to complete the project.
"This program could get us into production in well under two years," said Mell. "This would be a huge opportunity."
Canada's critical mineral list includes 31 minerals, with lithium, graphite, nickel, cobalt, copper and rare earth elements considered a priority.
