Elevra Lithium (SYA) Q3 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $81 million, up 22% quarter-over-quarter and 68% year-to-date, with positive cash flow and a net cash position of $58.7 million at quarter-end.

• Operational improvements at North American Lithium (NAL) included record 94% plant utilization and 66% lithium recovery, supporting strong cash from operations.

• Advanced growth projects at Moblan, Ewoyaa (mining lease ratified), and Carolina Lithium, with accelerated NAL expansion and finalized property acquisitions.

• Signed MoU with Mangrove Lithium for potential downstream processing partnership to support North American battery supply chains.

• Added to ASX 300 index, increasing institutional visibility and shareholder base.

Financial highlights

• Sold 55,526 tons of spodumene concentrate, a 16% decline in volume, but average realized selling price rose 46% quarter-over-quarter to $1,453/ton.

• Record quarterly revenue of $81 million, up 22% quarter-over-quarter and 68% year-to-date versus last year.

• Unit operating costs increased 9% to $884/ton, mainly due to higher mining costs for increased ore flexibility.

• Ended the quarter with $113 million in cash, up $32 million from the previous quarter, reflecting $41 million net operating cash inflow at NAL.

• Capital expenditure was $4 million, focused on sustaining capital at NAL.

Outlook and guidance

• On track to achieve full-year production guidance of 180,000–190,000 tons and sales guidance of 170,000–190,000 tons.

• Full-year unit operating cost guidance maintained at $860–880/ton.

• June quarter will conclude legacy contract deliveries, increasing exposure to market-based pricing in FY 2027.

• Updated NAL expansion scoping study to be released in the June quarter, with staged development to optimize capital and align with demand.