Recent Updates — ELVR

Elevra Lithium has executed a binding Spodumene Concentrate Supply Agreement with LG Energy Solution for the supply of spodumene concentrate produced at its North American Lithium project in Québec. The three-year term provides for an aggregate base quantity of 240,000 dry metric tonnes (dmt), comprising 30,000 dmt in 2026 and 90,000 dmt annually in 2027 and 2028. Additionally, Elevra may supply up to 90,000 dmt of optional volume subject to mutual agreement. Pricing is market-linked and adjusted for lithium content, with the first shipment expected in calendar year 2026. This deal secures a committed customer for a significant portion of production while retaining exposure to spot market pricing. Elevra Lithium Limited is a North American lithium producer with projects in Québec, Canada, the United States, and Western Australia.

Elevra Lithium Limited provided an update on the proposed sale of its interests in the Ewoyaa Lithium Project in Ghana to Zhejiang Huayou Cobalt Co., Ltd. for approximately US$71 million before fees and taxes. Completion is subject to Ghanaian Government approvals, with a deadline of October 30, 2026. If approvals are not obtained by this date, Huayou may elect to complete the transaction or terminate it by paying Elevra a US$5 million break fee; no break fee applies if the application is rejected. Separately, Huayou received Foreign Investment Review Board approval for its proposed acquisition of Atlantic Lithium Limited, which holds remaining private-sector interests in the Ewoyaa Project. The filing also announced key dates for the 2026 Annual General Meeting, scheduled for November 19, 2026. Elevra Lithium Limited is a North American lithium producer with projects in Canada and the United States.

Elevra Lithium Limited announced the results of a Pre-Feasibility Study for its staged North American Lithium Brownfield Expansion in Québec. The project targets increasing average annual spodumene concentrate production to 373,000 tonnes per annum (ktpa) post-expansion, up from a base case of 199 ktpa. Life-of-mine C1 costs are estimated at US$649/t, reducing to US$630/t post-expansion. The expansion requires total initial capital expenditure of C$366 million (US$271 million) and delivers an incremental post-tax NPV of US$699 million. Production increases will be delivered in three stages: Stage 1 from mid-2027, Stage 2 from mid-2028, and Stage 3 by mid-2029. The company operates as a North American hard-rock lithium producer.

Elevra Lithium Limited reported a net profit attributable to members of $43,068,000 for the fiscal year ended June 30, 2026, a significant turnaround from a loss of $190,509,000 in the prior period. Revenue increased by 39% to $201,675,000. The company declared no interim or final dividends for the year. Net tangible assets per security rose slightly to $3.52 from $3.47. Elevra operates in the lithium mining and exploration industry.

Elevra Lithium Limited filed a Form 6-K incorporating two ASX announcements. First, Elevra and Morella Corporation proposed expanding their existing lithium joint venture in Western Australia to include four additional exploration projects: Deep Well, Mt Dove, Station Peak, and Mount Satirist. Under the terms, Morella can earn a 51% interest by spending A$300,000 on qualified exploration within two years, while Elevra retains a 49% stake. Second, Elevra completed a binding seven-year supply agreement with Mangrove Lithium for long-term spodumene concentrate deliveries from its North American Lithium project in Québec. The contract requires annual volumes of 122,000 dry metric tonnes in Year 1 and 144,000 dmt starting in Year 2, featuring a price floor above production costs and no ceiling. Elevra operates as a North American lithium producer with assets in Canada and the United States.