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Elevra Lithium Limited (ASX:ELV)

ALERT: Price-sensitive ASX Announcement for ELV
Current share price for ELV : $5.200 -8.54 (-62.15%)+
Announcement
Release
12 May 2026 10:04AM
Price at Release
$13.740
Full Release
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Summary
Elevra Lithium Limited has announced the purchase and termination of the spodumene concentrate offtake agreement related to the Moblan Lithium Project. This agreement, originally with Waratah Capital Advisors Ltd, allowed Waratah to purchase 10% of Moblan's production at a discounted rate. Elevra's transaction includes issuing US$5 million in ordinary shares and US$0.5 million in options to Waratah as compensation for terminating the agreement. This move strengthens Elevra's position by securing 100% control over its Moblan offtake rights, eliminating a sales commitment at discounted prices. This provides flexibility for Elevra to enhance the project's economic potential and strategic planning, especially as they consider developing Moblan into a larger project. The transaction was executed to preserve cash while advancing development planning.
Key Points
  • Elevra Lithium Limited purchased Moblan offtake rights.
  • Termination of an agreement with Waratah Capital Advisors.
  • Elevra secures 100% control over Moblan offtake.
  • Issued US$5 million in shares and US$0.5 million in options to Waratah.
  • Strengthens Elevra's commercial position and flexibility.
  • Eliminates discounted sales commitment for life of mine.
  • Enhances long-term economics and strategic flexibility of Moblan project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.