Elevra Lithium Signs 3-Year Spodumene Supply Deal with LG Energy
ELVR sits 45% above its 52-week low of $23.7 on light trading volume (0.1× avg).
Summary
Elevra Lithium signed a binding 3-year contract to supply 240K dry metric tons of spodumene concentrate to LG Energy Solution from its North American Lithium project in Quebec, with an option for up to 90K dmt more. Shipments are expected to begin in 2026. The deal adds a major battery manufacturer as a customer and supports Elevra's strategy of diversifying its customer base as production increases. This follows a series of supply agreements and financing moves, including a 7-year deal with Mangrove Lithium in August and a C$65M convertible note issuance. The stock rose 5.5% on the news.
Updates
· SEC 6-K — The 6-K attaches the ASX announcement with the same terms: 240,000 dmt over three years, comprising 30,000 dmt in 2026, 60,000 dmt in 2027 and 2028, and 90,000 dmt in 2029, plus an option for up to 90,000 dmt.
At the time of this announcement, ELVR was trading at $34.45 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $696.1M. The 52-week trading range was $23.70 to $102.80. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.