Elevra Lithium Q1 unit operating costs fall 14%
A binding LG Energy Solution agreement covers 240,000 dmt over three years; annual volumes ramp from 30kt to 90kt, with up to 90kt optional.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
6-K
Rhea-AI Filing Summary
Elevra Lithium Ltd reported Q1 FY27 revenue of US$74 million, producing 54,907 dry metric tonnes and selling 58,134 dry metric tonnes. Unit operating cost sold was US$780/dmt, down 14% quarter over quarter; cash was US$319 million as of September 30, 2026.
FY27 guidance is 198,000–210,000 dmt of production, 200,000–230,000 dmt of sales, US$880–US$950/dmt sold in unit costs and US$120–US$140 million in capital expenditure. The NAL expansion targets capacity growth from 199ktpa to approximately 373ktpa, with estimated expansion capex of US$271 million. Elevra completed the sale of all rights and interests in Ewoyaa, including offtake rights, to Zhejiang Huayou Cobalt on October 26, 2026, for approximately US$71 million in cash consideration before fees and taxes; proceeds were received after quarter end and excluded from September 30 cash.
Separately, 132,928 performance rights converted into ordinary shares and 89,275 performance rights lapsed. Ordinary shares on issue following the notices were 194,016,029.
2 points · 1 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Major pointEwoyaa sale brought approximately US$71 million in cash consideration before fees and taxes. 15% of market cap
- Moderate pointUnit operating cost sold fell 14% quarter over quarter to US$780/dmt.
Negative
- None.
Filing Explained
The rights conversion used existing shares; LG's binding offtake is contracted, while Mangrove's separate agreement depends on a positive FID by December 31, 2028.
The November 6 Form 6-K furnishes two securities notices and a November investor presentation from Elevra. The performance-right conversion completed from November 2 to 4 was satisfied by transferring already-quoted ordinary shares, so this conversion did not add shares to the ordinary-share count.
The presentation describes a binding LG Energy Solution supply agreement for 240,000 dmt over three years, with annual volumes ramping and up to 90,000 dmt optional. A separate binding agreement with Mangrove Lithium is conditional on Mangrove achieving positive FID by
Key Figures
Q1 FY27 Revenue: US$74 million
Q1 FY27 Production: 54,907 dry metric tonnes
Q1 FY27 Sales: 58,134 dry metric tonnes
+5 more
8 metrics
Q1 FY27 Revenue
US$74 million
Q1 FY27
Q1 FY27 Production
54,907 dry metric tonnes
Q1 FY27
Q1 FY27 Sales
58,134 dry metric tonnes
Q1 FY27
Unit Operating Cost Sold
US$780/dmt sold
Q1 FY27; down 14% quarter over quarter
Cash
US$319 million
As of September 30, 2026
FY27 Capital Expenditure Guidance
US$120–US$140 million
FY27 guidance
Ewoyaa Cash Consideration
Approximately US$71 million
Before fees and taxes
NAL Expansion Capacity Target
Approximately 373ktpa
Targeted increase from 199ktpa
Key Terms
spodumene concentrate, FOB, Final Investment Decision, Mineral Resource Estimate, +1 more
5 terms
spodumene concentrate technical
"spodumene concentrate produced at 5.1% grade"
A processed rock product that concentrates spodumene, a mineral rich in lithium, which is then refined into lithium chemicals used to make rechargeable batteries. Think of it as the crude oil equivalent for lithium batteries: an early-stage raw material whose availability and price influence the cost and supply of battery-grade lithium. Investors watch spodumene concentrate as an indicator of future battery material supply, production costs, and the health of electric-vehicle and energy-storage supply chains.
FOB technical
"US$/dmt sold, FOB Port of Québec"
FOB (Free On Board) is a shipping contract term that specifies the exact point when ownership, shipping costs, and liability for goods shift from the seller to the buyer. Think of it like handing over the keys when a car crosses a line: once the goods pass that point (often the seller’s dock or the ship’s rail), the buyer is responsible for transport, insurance, and any loss. For investors, FOB affects cash flow, inventory timing, and which party bears shipping risk and expense, all of which influence profit margins and balance-sheet reporting.
Final Investment Decision technical
"funded to a Final Investment Decision"
A final investment decision is the point at which a person or organization chooses to move forward with a particular project or purchase after reviewing all the necessary information and options. It is like deciding to buy a house after considering all the costs, benefits, and alternatives. This decision is important because it determines whether and when the investment will be made, impacting future financial plans and outcomes.
Mineral Resource Estimate technical
"Attributable Measured & Indicated & Inferred Mineral Resource Estimate"
A mineral resource estimate is a calculated approximation of how much metal or mineral material likely exists in a particular deposit and where it sits underground, similar to estimating how many cookies are in a jar by peeking at the layers. It matters to investors because it provides a data-based starting point for judging a project's potential value, future production and risks, while not guaranteeing recoverable or profitable amounts.
C1 Cost of Concentrate financial
"C1 Cost of Concentrate Average LOM"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were ELVR’s Q1 FY27 operating results?
Elevra reported US$74 million in Q1 FY27 revenue, produced 54,907 dry metric tonnes and sold 58,134 dry metric tonnes; unit operating cost sold was US$780/dmt, down 14% quarter over quarter.
What is ELVR’s FY27 guidance?
Elevra’s FY27 guidance is 198,000–210,000 dmt of production, 200,000–230,000 dmt of sales, US$880–US$950/dmt sold in unit operating costs and US$120–US$140 million in capital expenditures.
How much was the Ewoyaa sale consideration?
Elevra completed the sale on October 26, 2026, for approximately US$71 million in cash consideration before fees and taxes. Proceeds were received after quarter end and were excluded from cash as of September 30, 2026.
What are the terms of ELVR’s LG Energy Solution supply agreement?
The binding agreement covers 240,000 dmt over three years. Annual volumes ramp from 30kt to 90kt, with up to 90kt optional, and pricing is market-linked and adjusted for lithium content.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2026
Commission File Number 001-42819
ELEVRA LITHIUM LIMITED
(Translation of registrant’s name into English)
Level 3,
10 Eagle Street
Brisbane, Queensland 4000
Australia
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
| Form 20-F ☒ | Form 40-F ☐ |
Elevra Lithium Limited (the “Registrant”) is furnishing the following exhibits on this Report on Form 6-K, each of which is hereby incorporated by reference:
Exhibit
|
No.
|
Description
|
|
99.1
|
Appendix 3G – Notification of issue, conversion or payment up of unquoted equity securities, filed by the Registrant with the Australian Securities Exchange on November 5, 2026.
|
|
99.2
|
Appendix 3H – Notification of cessation of securities, filed by the Registrant with the Australian Securities Exchange on November 5, 2026.
|
|
99.3
|
Presentation titled “Elevra Lithium – Providing a Secure and Reliable Supply of Lithium in North America”, filed by the Registrant with the Australian Securities Exchange on November 6, 2026.
|
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
|
ELEVRA LITHIUM LIMITED
|
|||
| By: | /s/ Dylan Roberts | ||
|
Date: November 6, 2026
|
Name: Dylan Roberts
|
||
|
Title: Company Secretary and General Counsel
|
|||
Exhibit 99.1
 |
Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
|
| Announcement Summary |
Entity name
ELEVRA LITHIUM LIMITED
Date of this announcement
Thursday November 05, 2026
The +securities the subject of this notification are:
Unquoted options that have been exercised or other unquoted +convertible securities that have been converted
Total number of +securities to be issued/transferred
|
ASX +security code
|
Security description
|
Total number of
+securities to be issued/transferred
|
Issue date
|
|||
| ELV |
ORDINARY FULLY PAID
|
132,928
|
04/11/2026
|
|||
Refer to next page for full details of the announcement
|
Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
|
| Part 1 - Entity and announcement details |
| 1.1 |
Name of entity
|
ELEVRA LITHIUM LIMITED
We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.
|
1.2 Registered number type
|
Registration number |
|
ABN
|
26091951978 |
| 1.3 |
ASX issuer code
|
ELV
| 1.4 |
The announcement is
|
New announcement
| 1.5 |
Date of this announcement
|
5/11/2026
|
Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
|
| Part 2 - Issue details |
| 2.1 |
The +securities the subject of this notification are:
|
Unquoted options that have been exercised or other unquoted +convertible securities that have been converted
| 2.2 |
b The +securities being issued, transferred or re-classified as a result of the options being exercised or other
|
+convertible securities being converted are:
securities that have already been quoted on ASX ("existing class")
|
Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
|
| Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to |
| ASX in an Appendix 3B |
The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by:
A transfer of existing +securities
The underlying securities being received by the holder are:
Already quoted by ASX
Existing +securities converting into an existing class
FROM (Existing Class)
ASX +Security code and description
ELVAM : PERFORMANCE RIGHTS
TO (Existing Class)
ASX +Security code and description
ELV : ORDINARY FULLY PAID
|
Please state the number of options
that were exercised or other
+convertible securities that were
converted
|
The first date the options were
exercised or other +convertible
securities were converted
|
The last date the options were
exercised or other +convertible
securities were converted
|
|
| 132,928 | 2/11/2026 | 4/11/2026 |
Is this all of the options or other +convertible securities on issue of that type?
No
Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme?
Yes
Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate?
Yes
Provide details of the KMP or +associates who are exercising options or converting +convertible securities.
| Name of KMP | Name of registered holder | Number of +securities | |||
|
Lucas Dow
|
Dow Group Investments Pty Ltd
|
59,584 |
|||
|
Sylvain Collard
|
Sylvain Collard
|
52,075 |
Date the +securities the subject of this notification were issued/transferred
4/11/2026
Any other information the entity wishes to provide about the +securities the subject of this notification
| Exercise of Performance Rights under the terms of the Company¿s Employee Share and Option Plan as approved by shareholders at the Company¿s AGM on 28 November 2024. |
|
Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
|
|
Issue details
|
Number of +securities
132,928
|
Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
|
| Part 4 - +Securities on issue |
Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise:
The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix
3H forms are currently with ASX for processing.
| 4.1 |
Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)
|
|
ASX +security code and description
|
Total number of
+securities on issue
|
|
ELV : ORDINARY FULLY PAID
|
194,016,029 |
| 4.2 |
Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX)
|
|
ASX +security code and description
|
Total number of
+securities on issue
|
|
|
|
|
ELVAM : PERFORMANCE RIGHTS
|
2,326,884 |
|
|
|
|
ELVAB : OPTION EXPIRING 12-MAY-2029 EX $18.30
|
56,678 |
|
|
|
|
ELVAC : CONVERTIBLE NOTES
|
65,000,000 |
|
|
|
|
ELVAN : OPTION EXPIRING 31-DEC-2028 EX $4.80
|
8,000,000 |
Exhibit 99.2
|
Appendix 3H - Notification of cessation of securities
|
| Announcement Summary |
Entity name
ELEVRA LITHIUM LIMITED
Announcement Type
New announcement
Date of this announcement
Thursday November 05, 2026
Details of +securities that have ceased
|
ASX +security
code
|
Security description
|
Number of
+securities that
have ceased
|
The +securities have ceased due to
|
Date of
cessation
|
|||
|
ELVAM
|
PERFORMANCE RIGHTS
|
89,275
|
Lapse of conditional right to securities because the conditions have not been, or have become incapable of being, satisfied
|
02/11/2026
|
|||
Refer to next page for full details of the announcement
|
|
Appendix 3H - Notification of cessation of securities
|
|
Part 1 - Announcement Details
|
| 1.1 |
Name of +Entity
|
ELEVRA LITHIUM LIMITED
We (the entity named above) provide the following information about our issued capital.
|
1.2 Registered Number Type
|
Registration Number |
|
ABN
|
26091951978 |
| 1.3 |
ASX issuer code
|
ELV
| 1.4 |
The announcement is
|
New announcement
| 1.5 |
Date of this announcement
|
5/11/2026
|
|
Appendix 3H - Notification of cessation of securities
|
| Part 2 - Details of +equity securities or +debt securities that have ceased |
ASX +Security Code and Description
ELVAM : PERFORMANCE RIGHTS
Unquoted +equity securities that have ceased
Number of securities that have ceased
89,275
Reason for cessation
Lapse of conditional right to securities because the conditions have not been, or have become incapable of being, satisfied
|
Date of cessation
|
Is the entity paying any consideration for the cessation? |
|
2/11/2026
|
No |
Any other information the entity wishes to notify to ASX about the cessation?
| Lapse of 89,275 unlisted Performance Rights pursuant to the terms of the Company's Employee Share and Option Plan. |
|
|
Appendix 3H - Notification of cessation of securities
|
|
Part 3 - Issued capital following changes
|
Following the cessation of the +securities the subject of this notification, the issued capital of the entity will comprise:
The figures in parts 3.1 and 3.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX
for processing.
| 3.1 |
Quoted +equity securities and +debt securities (total number of each +class of +securities quoted on ASX)
|
|
ASX +security code and description
|
|
Total number of
+securities on issue
|
|
|
ELV : ORDINARY FULLY PAID
|
|
194,016,029 |
|
3.2
|
Unquoted +equity securities (total number of each +class of +equity securities issued but not quoted on ASX)
|
|
ASX +security code and description
|
Total number of
+securities on issue
|
||
|
ELVAM : PERFORMANCE RIGHTS
|
2,370,537
|
||
|
ELVAB : OPTION EXPIRING 12-MAY-2029 EX $18.30
|
56,678
|
||
| ELVAC : CONVERTIBLE NOTES | 65,000,000 | ||
|
ELVAN : OPTION EXPIRING 31-DEC-2028 EX $4.80
|
8,000,000
|
Note: the figures stated in the tables above are used to calculate the total market capitalisation of the entity published by ASX from time to time. The table will not include those classes of
+securities that have ceased or lapsed in their entirety in ASX records before the announcement date described in Q1.5, even if the entity has advised ASX of a change to that class of +security in Part 2 of this form.
Exhibit 99.3
