Elevra Lithium Ltd (SYAXF) SEC Filings, Apr-Jul 2026

Elevra Limited is updating investors on recent changes to its share and incentive capital reported to the ASX and furnished on a Form 6-K. The company confirms that 49,990 ELVAM performance rights lapsed on 30 June 2026 because vesting conditions were not met. Separately, 200,524 ELVAM performance rights under an employee incentive scheme converted into ELV ordinary fully paid shares between 3 March 2026 and 30 June 2026 via a transfer of existing shares. After these changes, the ASX tables show 194,016,029 ELV ordinary shares on issue and a reduced pool of unquoted ELVAM performance rights alongside existing options.

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.

Elevra Limited reports changes in holdings for two directors, as disclosed to the Australian Securities Exchange and furnished on this Form 6-K.

Director Laurie Lefcourt acquired 1,230 shares and now holds 9,384 shares directly. Director Lucas Dow, through indirect interests, acquired 2,460 shares under the Elevra Lithium Limited Share Purchase Plan announced on 12 May 2026, bringing his indirect holdings to 19,127 shares plus 637,892 performance rights.

Elevra Limited provides an update on its lithium operations, financial position, and growth plans across North America. Year-to-date FY26 revenue is US$167 million, with unit operating costs of US$840 per dry metric tonne and concentrate production of 143,489 dry metric tonnes, of which 147,517 tonnes were sold at a 66% recovery rate.

The company reports pro-forma net cash of US$321 million, a pro-forma market capitalization of US$1,887 million, and 193 million pro-forma shares outstanding following a strategic financing. Elevra highlights a combined lithium Ore Reserve estimate of 106Mt at 1.15% Li2O and a Mineral Resource estimate of 229Mt at 1.14% Li2O, plus an updated NAL expansion study targeting production capacity up to 338kt per year through staged mill optimization and expansion.

Elevra Lithium Limited has completed a fully underwritten institutional placement raising approximately A$275 million through issuing about 22.5 million new fully paid ordinary shares at A$12.20 per share to eligible institutional investors. The new shares represent 13.3% of existing shares on issue and are expected to settle on 15 May 2026, with trading on the ASX from 18 May 2026.

Elevra will also conduct a Share Purchase Plan for eligible shareholders in Australia and New Zealand to raise up to about A$20 million at the lower of the 5‑day VWAP before the SPP closing date or A$12.20 per share. Together with a recently announced strategic Convertible Notes investment, these equity raisings are expected to fully fund the NAL Brownfield Expansion project and key Moblan technical and pre‑development activities through to final investment decision while preserving liquidity.

Elevra Lithium Limited reports two major updates. First, it has bought back and terminated Moblan offtake rights previously held by a Waratah Capital vehicle, so Elevra now controls 100% of its pro‑rata offtake from its 60%-owned Moblan Lithium Project. This removes a life‑of‑mine sales commitment that sold 10% of Sayona’s Moblan share at a 5% discount to market prices, and was settled through an equity-based consideration that preserves cash.

Second, Elevra released an updated scoping study for expanding its North American Lithium (NAL) mine in Québec. The staged expansion keeps total initial capital at about C$366 million, but increases average annual 5.4% Li2O concentrate output from 194 kt to 338 kt post‑expansion, with life‑of‑mine C1 cash costs falling from C$1,076 to C$868 per tonne of concentrate. The expansion scenario generates a post‑tax net present value (8% discount rate) of C$3,112 million versus C$2,143 million for the base case and a post‑tax internal rate of return of 41.8%, with a 25‑month payback. The plan relies on existing ore reserves and staged debottlenecking to raise throughput, and remains subject to funding, permitting, and typical project execution risks.

Elevra Limited has agreed to sell all of its rights and interests, including offtake rights, in the Ewoyaa Lithium Project in Ghana to Zhejiang Huayou Cobalt for approximately US$71 million in cash before fees and taxes. Completion is expected by the end of Q1FY27, subject to Ghanaian regulatory approvals.

The deal is independent of Huayou’s separate plan to acquire Atlantic Lithium’s Ewoyaa interest for US$210 million. Elevra highlights that exiting Ewoyaa removes ongoing development funding obligations and simplifies its joint venture and offtake structure, allowing greater strategic focus on its North American lithium assets. Management expects the cash proceeds to enhance balance sheet and financial flexibility to advance other growth projects.

Elevra Limited has applied for quotation of 255,830 new ELV ordinary fully paid shares on the ASX, issued as part of a previously announced placement under an Appendix 3B. The shares were issued on 24 April 2026 at USD 6 per share.

After these shares are quoted, Elevra will have 169,632,601 ELV ordinary fully paid shares on issue. The capital structure also includes 2,708,166 ELVAM performance rights and 2,723,613 ELVAN options expiring 31 December 2028 with an exercise price of USD 4.80, which remain unquoted.

Elevra Lithium reported a strong March 2026 quarter, highlighted by record revenue from its North American Lithium (NAL) operation and higher prices. NAL sold 55,526 dmt of spodumene concentrate at an average realised price of US$1,453/dmt, generating revenue of US$81 million, up 22% quarter-on-quarter as pricing rose 46% while volumes fell 16%.

Unit operating costs at NAL increased to US$884/dmt sold, reflecting release of higher-cost inventory and elevated mining activity, but the mine still delivered US$32 million profit from operations and a US$41 million net operating cash inflow. Group cash and cash equivalents rose by US$31.7 million to US$113.0 million, with net cash of US$58.7 million.

Operationally, mill utilisation reached 94% and recovery improved to 66%, supporting guidance for 180,000–190,000 dmt production and 170,000–190,000 dmt sales for the year. Elevra advanced growth projects, including an accelerated NAL brownfield expansion, permitting at Moblan, ratification of the Ewoyaa Mining Lease in Ghana, and continued progress at Carolina Lithium. The company signed a non-binding MoU with Mangrove Lithium on potential North American refining collaboration and was added to the S&P/ASX 300 Index.