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BRISBANE, Australia, Sept. 08, 2026 (GLOBE NEWSWIRE) — North American lithium producer Elevra Lithium Limited (“Elevra” or “Company”) (ASX:ELV; NASDAQ:ELVR) is pleased to announce the results of a Pre-Feasibility Study (“PFS”) for the staged North American Lithium (“NAL”) Brownfield Expansion in Québec. The PFS confirms the NAL Expansion as a high-value growth project that is expected to significantly increase annual spodumene concentrate production while reducing unit operating costs and generating attractive returns on capital invested.
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- Consistent with the Updated NAL Expansion Scoping Study, the NAL Expansion will be delivered through a three-stage brownfield development, with Stage 1 increasing process plant throughput to the currently permitted rate of 4,500 tpd from mid-CY27, Stage 2 increasing milling capacity to 6,500 tpd from mid CY28, and Stage 3 delivering a permanent crushing solution aligned with increased milling capacity by mid CY29.
- On a post expansion basis, average annual spodumene concentrate production increases to 373 thousand tonnes per annum (ktpa) (nominal SC5.4, post ramp up), nearly double the no expansion scenario (“Base Case”) and 10% above the 338 ktpa estimate from May 20261. Production above the 338 ktpa capacity is attributable to improved mill feed grades largely due to benefits of ore sorting equipment.
- Life of mine (LOM) C1 cost of C$876/t (US$649/t)2 of spodumene concentrate, reducing to C$851/t (US$630/t)2 post-expansion with AISC of C$918/t (US$680/t)2.
- The NAL Expansion is fully funded based on the total initial CAPEX remaining unchanged at C$366M (US$271M)2 (AACE Class 4 estimate with a target accuracy range of ±40%), including C$73M (US$54M)2 of contingency, with Stage 1 CAPEX of C$92M (US$68M)2, Stage 2 CAPEX of C$101M (US$75M)2 and Stage 3 CAPEX of C$173M (US$128M) 2.
- NAL Expansion delivers a post-tax NPV (8%) of C$3,218M (US2,384M)2 , or an incremental post-tax NPV (8%) of C$943M (US$699M)2 compared to the C$969M (US$718M)2 incremental post-tax NPV (8%) declared in May 20261 due primarily to a 4% increase in the mining cost compared to the previous announcement following further detailed haulage modelling.
- The Company’s existing NAL Ore Reserves of 47.2Mt at 1.12% Li2O, comprising 0.2MT Proven and 47.0MT Probable Mineral Reserves, solely underpin the NAL Expansion production profile with a revised life of mine of 20 years.
- The PFS demonstrates that the NAL Expansion can increase production, reduce unit costs and generate significant incremental value from an existing operating asset and established infrastructure.
- The NAL Expansion is fully funded through Elevra’s Strategic Financing Package announced in May 20263.
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1 ASX release “Updated NAL Expansion Scoping Study” dated 12 May 2026.
2 Figures converted from Canadian dollar to United States dollar at CAD/USD 1.35 as per the PFS.
3 ASX release “Transformational Financing Package to Accelerate Growth” dated 12 May 2026.
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Elevra’s Chief Executive Officer and Managing Director, Mr Lucas Dow, said: “The NAL Expansion PFS confirms a compelling value proposition for Elevra, with a high-return brownfield expansion that materially increases production while reducing unit operating costs.
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The ability to increase average annual production to 373,000 tonnes post-expansion, while reducing LOM average C1 unit costs post expansion to approximately C$851/t (US$630/t)4, demonstrates the significant operating leverage available at NAL. The production target and cost profile are underpinned by existing Ore Reserves and historical operating data, providing a strong foundation for the production and financial outcomes outlined in the PFS.
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The staged development approach allows us to bring additional production online from mid-2027, by progressively increasing throughput and capturing operating efficiencies while managing project execution and prudent capital deployment.”