Elevra (ELVR) launches fully funded NAL expansion and issues options
Rhea-AI Filing Summary
Elevra Limited has filed a Form 6-K highlighting two developments. The company has broken ground on the fully funded expansion of its North American Lithium (NAL) operation, following a May 2026 A$275 million institutional placement that funded the project and strengthened its balance sheet.
Stage 1 of the NAL Expansion is targeted for completion in mid-CY27 and is expected to lift annual spodumene concentrate production capacity by 15–20% while reducing unit operating costs through scale and efficiency improvements. The filing also reports the issue of 5,276,387 unquoted ELVAN options, exercisable at $4.80 and expiring on 31-Dec-2028, contributing to a total of 8,000,000 ELVAN options on issue alongside 194,016,029 ordinary shares.
Positive
- Fully funded NAL expansion targeting 15–20% capacity uplift by mid-CY27, with expectations of lower unit operating costs through improved scale and efficiency.
Negative
- None.
Insights
Fully funded NAL expansion adds 15–20% capacity with new options issued.
The expansion of North American Lithium is notable because it is described as fully funded via an earlier A$275 million placement. Stage 1 aims for a 15–20% increase in spodumene concentrate capacity and lower unit operating costs by mid-CY27.
The filing also records issuance of 5,276,387 unquoted ELVAN options at $4.80, expiring 31-Dec-2028, taking total ELVAN options to 8,000,000 and ordinary shares to 194,016,029. Actual impact will depend on execution of the expansion and future lithium market conditions.
Key Figures
Stage 1 capacity increase: 15–20% increase in annual spodumene concentrate
New ELVAN options issued: 5,276,387 options
ELVAN option exercise price: $4.80 per option
+5 more
8 metrics
Stage 1 capacity increase
15–20% increase in annual spodumene concentrate
Expected upon NAL Expansion completion in mid-CY27
New ELVAN options issued
5,276,387 options
Unquoted options issued on 30/06/2026
ELVAN option exercise price
$4.80 per option
ELVAN options expiring 31-Dec-2028
ELVAN options on issue
8,000,000 options
Total unquoted ELVAN options after this issue
Ordinary shares on issue
194,016,029 shares
ELV ordinary fully paid shares quoted on ASX
Performance rights on issue
2,708,166 rights
Unquoted ELVAM performance rights
ELVAB options on issue
56,678 options
ELVAB options expiring 12-May-2029 at $18.30
Institutional placement size
A$275 million
May 2026 institutional placement funding NAL Expansion
Key Terms
Form 6-K, spodumene concentrate, Appendix 3G, performance rights, +2 more
6 terms
Form 6-K regulatory
"Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16"
A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.
spodumene concentrate technical
"a 15-20% increase in annual spodumene concentrate production capacity"
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.
Appendix 3G regulatory
"Appendix 3G – Notification of issue, conversion or payment up of unquoted equity securities"
performance rights financial
"ELVAM PERFORMANCE RIGHTS | 2,708,166"
Performance rights are conditional awards that give employees or executives the promise of receiving company shares or cash only if the business meets specific targets or survives for a set period. They work like a bonus you only get when certain goals are hit, so they matter to investors because they can increase the number of shares outstanding (dilution), signal management’s incentives and confidence in future results, and affect per-share earnings and valuation.
unquoted +securities financial
"the following unquoted +securities"
institutional placement financial
"A$275 Million Institutional Placement"
FAQ
What does Elevra (ELVR) announce about the North American Lithium expansion?
Elevra announces it has broken ground on the North American Lithium Expansion Project. Stage 1 is expected to complete by mid-CY27, targeting a 15–20% increase in annual spodumene concentrate capacity and lower unit operating costs through scale and efficiency gains.
How is Elevra’s NAL expansion project funded according to the Form 6-K?
The NAL Expansion is described as fully funded following Elevra’s May 2026 A$275 million institutional placement. That capital raise also strengthened the company’s balance sheet, supporting execution of its staged growth strategy across its lithium asset portfolio.
What new securities does Elevra (ELVR) report issuing in this filing?
Elevra reports issuing 5,276,387 unquoted ELVAN options expiring 31-Dec-2028 with a $4.80 exercise price. These options were issued as part of previously announced transactions under an Appendix 3B and are not quoted or intended to be quoted on ASX.
What is Elevra’s updated capital structure after the new ELVAN options?
After issuing the new options, Elevra has 194,016,029 ordinary fully paid shares on issue. Unquoted securities include 2,708,166 performance rights, 56,678 ELVAB options, and 8,000,000 ELVAN options expiring 31-Dec-2028 with a $4.80 exercise price.
How might the NAL expansion affect Elevra’s lithium production profile?
Stage 1 of the NAL expansion is expected to increase annual spodumene concentrate production capacity by 15–20%. The project also targets reductions in unit operating costs, which together could enhance Elevra’s position as a strategically important lithium supplier in North America.
Where are Elevra Lithium’s main projects located?
Elevra’s portfolio includes the North American Lithium operation in Québec, a 60% interest in the Moblan Lithium Project in Central Québec, and the Carolina Lithium project in the United States. It also holds a large tenement portfolio in Western Australia’s Pilbara region prospective for gold and lithium.
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 June 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 filing the following exhibits on this Report on Form 6-K, each of which is hereby incorporated by reference:
Exhibit
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No.
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Description
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99.1
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Announcement filed by the Registrant with the Australian Securities Exchange on June 29, 2026 – Elevra Breaks Ground on Fully Funded North American Lithium Expansion.
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99.2
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Appendix 3G – Notification of issue, conversion or payment up of unquoted equity securities, filed by the Registrant with the Australian Securities Exchange on June 30, 2026.
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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.
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ELEVRA LITHIUM LIMITED
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Date: June 30, 2026
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By:
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/s/ Dylan Roberts
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Name: Dylan Roberts
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Title: Company Secretary and General Counsel
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Exhibit 99.1
ASX ANNOUNCEMENT
29 June 2026
Elevra Breaks Ground on Fully Funded North American Lithium Expansion
North American lithium producer Elevra Lithium Limited (“Elevra” or
“Company”) (ASX:ELV; NASDAQ:ELVR) is pleased to announce that it has reached a milestone in the expansion of its North American Lithium (“NAL”) operation with the official groundbreaking of
the NAL Expansion Project.
The groundbreaking follows the successful completion of Elevra’s May 2026 capital raise, which fully funded the NAL Expansion and strengthened the Company’s balance
sheet to support execution of its staged growth strategy1. The groundbreaking was attended by members of the Elevra Board of Directors, senior management, and project leadership.
As part of ongoing project execution, equipment for the expansion has been ordered to enable the planned development timeline and reduce schedule risk.
Upon completion in mid-CY27, Stage 1 of the NAL Expansion is expected to deliver a 15-20% increase in annual spodumene concentrate production capacity and a reduction
in unit operating costs through improved scale and efficiency2. As North America seeks to strengthen domestic battery materials supply to reduce reliance on external sources, the NAL expansion will deliver increased supply of traceable
and transparent lithium to the rapidly growing electric vehicle and energy storage markets.
Elevra’s Managing Director and Chief Executive Officer, Mr. Lucas Dow, said: “The groundbreaking of the NAL Expansion marks a
milestone for Elevra and reflects the progress we have made since announcing our staged expansion strategy. With funding secured and equipment orders being placed, we are focused on disciplined execution to deliver Stage 1. This expansion will
increase production capacity and further strengthen NAL’s position as a strategically important source of lithium supply in North America."
Announcement authorised for release by Elevra’s Managing Director and Chief Executive Officer.
About Elevra Lithium
Elevra Lithium Limited is a North American lithium producer (ASX:ELV; NASDAQ:ELVR) with projects in Québec (Canada), United States and Western Australia.
Elevra’s assets comprise North American Lithium (100%), a 60% stake in the Moblan Lithium Project in Central Québec and the Carolina Lithium project (100%) in the United States.
In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium.
1 ASX release 13 May 2026 titled “Elevra Announces Successful Completion
of A$275 Million Institutional Placement”.
2 ASX release 12 May 2026 titled “Updated NAL Expansion Scoping Study
Defines Faster Growth and Lower Costs”.
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ELEVRA LITHIUM • Level 3, 10 Eagle Street • Brisbane QLD 4000 • Australia
+61 7 3369 7058 • info@elevra.com • ASX:ELV | NASDAQ:ELVR • ABN 26 091 951 978
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elevra.com |
For more information, please visit us at www.elevra.com or contact:
Andrew Barber
Investor Relations
PH: +617 3369 7058
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ELEVRA LITHIUM
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2 |
Exhibit 99.2
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Announcement Summary
Entity name
ELEVRA LITHIUM LIMITED
Date of this announcement
Tuesday June 30, 2026
The +securities the subject of this notification are:
+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX
Total number of +securities to be issued/transferred
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ASX +security
code
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Security description
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Total number of
+securities to be issued/transferred
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Issue date
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||
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ELVAN
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OPTION EXPIRING 31-DEC-2028 EX $4.80
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5,276,387
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30/06/2026
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Refer to next page for full details of the announcement
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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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.
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1.2 Registered number type
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Registration number
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| ABN | 26091951978 |
1.3 ASX issuer code
ELV
1.4 The announcement is
New announcement
1.5 Date of this announcement
30/6/2026
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Part 2 - Issue details
2.1 The +securities the subject of this notification are:
+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX
Previous Appendix 3B details:
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Announcement Date and
Time
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Announcement Title
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Selected Appendix 3B to submit quotation
request
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| 12-Aug-2025 15:49 |
Update - Update - Proposed issue of securities - SYA
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A placement or other type of issue
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|||
2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?
No
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B
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Placement Details
ASX +security code and description
ELVAN : OPTION EXPIRING 31-DEC-2028 EX $4.80
Date the +securities the subject of this notification were issued
30/6/2026
Any other information the entity wishes to provide about the +securities the subject of this notification
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This Appendix 3G relates to the second tranche of options referred to in the Company's ASX announcement dated 12 August 2025 - https://announcements.asx.com.au/asxpdf/20250812/pdf/06ms80hw8wb2fw.pdf
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Issue details
Number of +securities
5,276,387
Were the +securities issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
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Options were not issued for a cash consideration. However, each unlisted Option has an exercise price of $4.80 per Option.
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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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)
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ASX +security code and description
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Total number of
+securities on issue
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ELV : ORDINARY FULLY PAID
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194,016,029
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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 | 2,708,166 |
| ELVAB : OPTION EXPIRING 12-MAY-2029 EX $18.30 | 56,678 |
| ELVAN : OPTION EXPIRING 31-DEC-2028 EX $4.80 | 8,000,000 |
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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