Elevra Lithium Ltd (ASX:ELV) Binding Agreement Concluded with Mangrove Lithium

Elevra Lithium (ASX:ELV, NASDAQ:ELVR) finalized a binding supply agreement with Mangrove Lithium for long-term spodumene concentrate supply from its North American Lithium facility in Québec. The deal follows a previous MoU and includes a price floor above production costs and no price ceiling. Elevra aims to avoid seaborne freight costs by supplying a local customer.

Elevra Lithium (ASX:ELV; NASDAQ:ELVR) signed a binding 7-year spodumene supply deal with Mangrove Lithium, extendable for another 7 years. The agreement covers 122,000 tonnes annually, with a floor price above Elevra's production costs and no ceiling. Both companies are backed by the Canada Growth Fund, aiming to strengthen Canada's lithium supply chain. Mangrove must reach a final investment decision by 2028.

Elevra Lithium (ASX:ELV, NASDAQ:ELVR) says it has completed the sale of its rights and obligations for WA tenement E45/2364 (Tabba Tabba) to Wildcat Resources. Elevra will receive $16m total plus a royalty if Wildcat defines a pegmatite resource, including A$5m cash, A$8m in Wildcat shares at $0.353, A$3m deferred cash, and contingent A$0.70/tonne.

Elevra Lithium (NASDAQ:ELVR) reported June-quarter revenue of $31 billion and average realized price of $921 per tonne, with unit operating costs of $907 per tonne. Full-year unit operating costs were $853 per tonne, below revised guidance of $860 to $880. The company raised $207 million net from equity and $145 million CAD via convertible notes, funded NAL expansion, and expects higher shipping volumes.

Elevra Lithium Limited (ASX: ELV, NASDAQ: ELVR) reported June 2026 quarter results for North American Lithium. Ore mined was 372,938 wmt, process plant utilisation 92%, lithium recoveries 71%, and spodumene concentrate 54,479 dmt. Spodumene sales were 33,977 dmt at US$921/dmt for US$31m revenue. Elevra also announced a US$196m placement plus US$102m convertible notes to fund the NAL expansion, and said cash was US$255m at quarter end.

Elevra Lithium Limited (ASX:ELV, NASDAQ:ELVR, OTC:SYAXF) said at its 2026 EGM it plans a three-stage North American Lithium brownfield expansion to raise annual spodumene concentrate capacity to 338ktpa by 2029. It targets 4,500 tpd milling throughput in Stage 1, 6,500 tpd by 2028 in Stage 2, and lower unit costs in Stage 3. The A$508M funding package includes A$275M equity, A$146M convertible notes from Canada Growth Fund, and about A$87M net proceeds from divesting Ghana’s Ewoyaa. The updated