Monitor final pricing settlement for September quarter shipments in the December quarter, as the US$1,276/dmt realised price is an estimate. Also watch for Mangrove Lithium's FID by Dec 2028, which would trigger a take-or-pay offtake agreement. The NAL Expansion remains on schedule and on budget.
Price Chart
Executive Summary
Elevra Lithium reported a strong operational quarter for Q1 FY27 (September 2026) with record ore mined, a 137% QoQ revenue increase to US$74M, and a 14% reduction in unit operating costs. The company also completed the sale of its Ewoyaa interest for ~US$71M and issued US$46M in convertible notes, ending the quarter with US$319M cash. No EPS or revenue consensus was provided, so no earnings rating is assigned.
Key Financial Metrics
Key Facts
- Record ore mined of 466,499 wmt, up 25% QoQ
- Revenue of US$74M, up 137% QoQ from US$31M
- Unit operating cost per tonne sold decreased 14% QoQ to US$780/dmt
- Spodumene concentrate sales of 58,134 dmt, up 71% QoQ
- Average realised selling price (FOB) of US$1,276/dmt, up 39% QoQ
- Cash balance of US$319M, up US$63M from June 2026
- Completed sale of Ewoyaa Project interest for ~US$71M cash
- Issued US$46M convertible notes to Canada Growth Fund
- Executed binding offtake agreement with LG Energy Solution for 240,000 dmt over 3 years
- NAL Expansion PFS supports increasing annual production to 373ktpa
- Board to reduce from 8 to 6 directors after 2026 AGM
Financial Impact
Revenue of US$74M for the quarter, up 137% QoQ; cash balance of US$319M; net cash of US$240M; sale of Ewoyaa for ~US$71M
Risk Factors
- Final pricing for September quarter shipments may settle higher or lower than estimated US$1,276/dmt
- Lithium price volatility continues, with prices easing in September/October
- Safety performance deteriorated with six recordable injuries during the quarter
- Mangrove Lithium offtake agreement subject to conditions including financing and FID by Dec 2028
- Conditional tranche of US$56M convertible notes remains subject to shareholder approval and other conditions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3388627 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Press Release | $24.90 | awaiting T+5 | — | $24.90 (−0.00%) |
Oct 22, 2026 5d ago | 6-K | $23.53 | awaiting T+5 | — | $24.90 (+5.82%) |
Oct 20, 2026 7d ago | Press Release | $26.94 $27.41 | ▲ +1.74% | ▲ +1.67% | $24.90 (−7.57%) |
Oct 16, 2026 11d ago | 6-K | $26.09 $24.90 | ▼ −4.56% | ▼ −4.42% | $24.90 (−4.56%) |
Oct 8, 2026 19d ago | 6-K | $33.61 $27.45 | ▼ −18.33% | ▼ −16.36% | $24.90 (−25.91%) |
Oct 1, 2026 26d ago | 6-K | $37.08 $33.61 | ▼ −9.36% | ▼ −10.52% | $24.90 (−32.85%) |
Oct 1, 2026 26d ago | Press Release | $37.08 $33.61 | ▼ −9.36% | ▼ −10.52% | $24.90 (−32.85%) |
Sep 30, 2026 27d ago | Press Release | $39.02 $34.71 | ▼ −11.05% | ▼ −12.96% | $24.90 (−36.19%) |
Aug 7, 2026 11w ago | Press Release | $60.34 $64.86 | ▲ +7.49% | ▲ +7.09% | $24.90 (−58.73%) |
Aug 4, 2026 12w ago | 6-K | $54.17 $59.69 | ▲ +10.19% | ▲ +10.29% | $24.90 (−54.03%) |
US Market Status
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