Earnings Calls

Last Earnings Call

Fiscal Period
Q4 2026
Call Date
Jul 27, 2026
AI Summary
Q4 2026

Operations: North American Lithium posted its second-best quarter ever, with production just over 54,000 tonnes, up 15% from the March quarter, while recoveries improved to 71% and mill utilization stayed high at 92%.

Pricing: Realized pricing was held back by a legacy customer contract, with average realized selling price at $921 per tonne and management saying that arrangement has now ended.

Funding: Elevra completed a transformational financing package that fully funds the NAL brownfield expansion and supports Moblan advancement, removing near-term financing uncertainty.

Costs: Unit operating costs rose to $907 per tonne in the quarter, but full-year unit operating cost of $853 per tonne beat revised guidance of $860 to $880 per tonne.

Outlook: Management expects realized pricing to better reflect market prices going forward, sees stronger shipment volumes ahead, and says the NAL expansion should lift production from about 190,000 tonnes to around 220,000 to 230,000 tonnes in the first stage.

Key Financials
Revenue
$31 million
Average realized selling price
$921 per tonne
Production
just over 54,000 tonnes
Mill utilization
92%
Recoveries
71%
Sales volume
approximately 34,000 tonnes
Inventory
approximately 41,000 tonnes
Unit operating cost
$907 per tonne
Full-year unit operating cost
$853 per tonne
Full-year production
approximately 198,000 tonnes
Cash
$255 million
Net proceeds from equity and SPP
$207 million
Canada Growth Fund investment
CAD 145 million
Operating cash outflow
$51 million
Maintenance shutdown
85 hours
NAL expansion base production
around 190,000 tonnes
NAL expansion stage 1 production
220,000 to 230,000 tonnes
Moblan previous DFS production
around 300,000 tonnes
Canadian tax losses carried forward
circa CAD 200 million

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