SAYONA MINING LTD NEW SEC Filings

Elevra Lithium Ltd director Laurie Jean Lefcourt has filed an initial statement of beneficial ownership. The filing shows direct ownership of 8,154 Ordinary Shares following the reported holdings entry. This report establishes Lefcourt’s equity position in the company as a director.

Elevra Limited reports the conversion of unquoted employee incentive securities into ordinary shares. A total of 24,842 ELV ordinary fully paid shares were issued or transferred on 2 March 2026 following the exercise or conversion of ELVAM performance rights. These underlying securities are already quoted on the ASX and were satisfied by a transfer of existing shares. After this change, Elevra has 169,376,771 ordinary fully paid shares on issue, alongside 2,708,166 ELVAM performance rights and 2,723,613 ELVAN options expiring 31 December 2028.

Elevra Lithium Limited reports FY26 half-year results showing stronger pricing and merger-driven gains alongside operational challenges at its North American Lithium mine. Revenue rose to US$86M, up 8%, as the average realised spodumene price increased 34% to US$937/dmt despite concentrate production falling 7% to 96kt and sales down 20% to 92kt.

Underlying EBITDA improved to a small profit of US$1M from a US$(25)M loss, while profit after tax swung to US$74M, largely driven by a US$156M impairment reversal and merger-related accounting effects. Operating cash flow was a US$(28)M outflow after US$24M of merger costs, though NAL itself generated US$5M operating cash. Cash rose to US$81M helped by merger proceeds and equity issuance.

The completed merger of Sayona Mining and Piedmont Lithium created a larger North American hard-rock producer, with NAL Ore Reserves up 124% to 48.6Mt at 1.11% Li₂O and Moblan Mineral Resources up 30% to 121Mt at 1.19% Li₂O. Elevra kept FY26 guidance unchanged, targeting 180,000–190,000dmt of production, 170,000–190,000dmt of sales, unit operating costs of US$860–US$880/dmt sold, and US$26M of capital expenditure.

Elevra Limited filed a Form 6-K furnishing three Australian Securities Exchange announcements. The company has issued 1,407,986 ELVAM performance rights under its employee incentive scheme, which are unquoted and rank equally with existing rights in that class.

Key management personnel received part of this grant, including Lucas Dow via Dow Group Investments Trust and other senior executives. After the issue, Elevra reports 169,376,771 ELV ordinary fully paid shares on issue, alongside 2,753,451 ELVAM performance rights and 2,723,613 ELVAN options. The filing also advises that the FY26 half-year report will be released on 25 February 2026, with an investor webcast for shareholders and investors.

Elevra Limited provides an update on operations, growth plans and funding. In Q2 FY26, its North American Lithium operation produced 44,154 dry metric tonnes of concentrate and sold 66,016 tonnes, generating US$66 million revenue with unit operating costs of US$812 per tonne and cash of US$81 million at 31 Dec 2025.

The company highlights combined lithium ore reserves of 106Mt at 1.15% Li2O and measured and indicated resources of 183Mt at 1.16% Li2O, plus FY26 production guidance of 180,000–190,000 tonnes and unit operating costs of US$860–US$880 per tonne. A staged brownfield expansion at NAL targets 315,000 tonnes of annual capacity and lower costs of about US$630 per tonne, with estimated initial capex of US$270 million.

Elevra also outlines a non‑binding memorandum of understanding with Mangrove Lithium for up to 144,000 tonnes of spodumene concentrate per year over five years starting in 2028, and discusses funding options, including project finance, strategic partners and positive operating cash flow.

Elevra Limited has signed a non-binding Memorandum of Understanding with Mangrove Lithium to negotiate a future offtake agreement for spodumene concentrate from the North American Lithium operation. The potential agreement could see Elevra supply up to 144,000 tonnes per year at market-related prices, subject to a floor and ceiling.

The proposed term is five years from 2028, ramping to 144,000 tonnes per annum by 2030, representing about 46% of estimated sales volumes. A binding deal depends on Mangrove making a final investment decision before June 2027 on a lithium conversion facility in Eastern Canada and agreement on definitive terms.

Elevra Lithium reported a record quarter at its North American Lithium (NAL) mine, with revenue of US$66 million driven by sales of 66,016 dmt of spodumene concentrate at an average realised price of US$998/dmt FOB. Sales volumes rose 154% quarter on quarter and pricing increased 27%, while unit operating costs were broadly flat at US$812/dmt.

Operationally, ore mined grew 15% but lower lithium grades and higher iron content cut recovery to 62% and reduced concentrate production by 15% to 44,154 dmt. In response, Elevra lowered FY2026 production guidance to 180,000–190,000 dmt and raised unit cost guidance to US$860–US$880/dmt, reflecting short-term spending on grade control and ore blending.

The company ended the quarter with US$81 million in cash after NAL generated US$12 million profit from operations and US$13 million net operating cash inflow. Growth work continued on the NAL brownfield expansion, Moblan, Ewoyaa and Carolina Lithium, with an accelerated NAL expansion plan targeting a staged 15–20% output increase by mid-CY2027.

Elevra Lithium Limited is applying for quotation of 47,660 additional ordinary fully paid shares (ASX code ELV) on the ASX, issued as part of a placement previously outlined in an earlier Appendix 3B announcement. These new securities are not being issued for cash consideration, and the form lists an estimated value of AUD 435,136.000000 per security for the consideration provided. After these shares are quoted, Elevra’s issued capital will comprise 169,376,771 ordinary shares, along with 1,760,737 performance rights (ELVAM) and 2,723,613 options expiring 31 December 2028 (ELVAN).