Quarterly UpdatesJul 28, 2026, 04:13 PM
Elevra Lithium Q2 Production Up 15%; Secures $298M Financing
AI Summary
Elevra Lithium reported strong operational performance in Q2 2026, with spodumene concentrate production up 15% QoQ to 54,479 dmt and lithium recoveries improving to 71%. The company secured a significant Strategic Financing Package of approximately US$298 million to fully fund the NAL Expansion and advance the Moblan Project. However, Q2 revenue declined 61% QoQ to US$31 million due to a legacy contract with lagged pricing, though future pricing is expected to align with spot rates. Elevra also divested its Ewoyaa Project interest for US$71 million to streamline its portfolio and ended the quarter with US$255 million in cash.
Key Highlights
- Spodumene concentrate production increased 15% QoQ to 54,479 dmt.
- Secured Strategic Financing Package of approximately US$298 million.
- Divested Ewoyaa Project interest for approximately US$71 million.
- Cash balance increased to US$255 million, with net cash of US$200 million.
- NAL Q2 revenue declined 61% QoQ to US$31 million due to lagged pricing.
- Lithium recoveries improved 5% QoQ to 71% at North American Lithium.
- NAL Expansion Scoping Study shows incremental post-tax NPV8% of C$969 million.
Price Impact
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