Elevra Q1 Revenue Rises 22% to US$81M; Plant Utilisation Hits 94%
Elevra Lithium posted US$81 million in Q1 revenue, up 22% QoQ, with YTD sales of US$167 million, up 68% YoY, and held US$113 million cash. North American Lithium ran at a record 94% plant utilisation, produced 47,332 dmt spodumene at 66% recovery and reaffirmed FY26 output guidance of 180,000–190,000 dmt.
1. Quarterly Financial Performance
Elevra achieved US$81 million revenue in the March quarter, up 22% sequentially and US$167 million YTD, up 68% year-over-year. The company generated positive cash flow, ending the period with US$113.0 million in cash and US$58.7 million net cash after accounting for a US$54.3 million prepayment facility balance.
2. Operational Highlights at North American Lithium
North American Lithium recorded two consecutive injury-free months and reduced its TRIFR for the third straight quarter below the FY26 target. Plant utilisation matched a record 94%, producing 47,332 dmt of spodumene concentrate at 66% recovery and selling 55,526 dmt at an average US$1,453/dmt, while unit operating costs rose to US$884/dmt.
3. Growth Projects and Outlook
Elevra advanced its NAL expansion engineering, preparing a phased scoping study for Q4, and progressed the Moblan ESIA. The Parliament of Ghana ratified the Ewoyaa mining lease and Elevra completed land acquisitions for the Carolina Lithium project. The company signed an MoU with Mangrove Lithium and reaffirmed FY26 guidance of 180,000–190,000 dmt production, 170,000–190,000 dmt sales, unit costs of US$860–880 per dmt, and US$26 million capital expenditure.