ASX:ELV

Macquarie Upgrades Elevra Lithium to Outperform from Neutral; Price Target is AU$14.50

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday:Minerals 260 (ASX:MI6): +13%, AU$0.85Pantoro Gold (ASX:PNR): +12%, AU$2.57Develop Global (ASX:DVP): +10%, AU$6.90PLS Group (ASX:PLS): +9%, AU$6.46Elevra Lithium (ASX:ELV): +9%, AU$11.65Genesis Minerals (ASX:GMD): +9%, AU$5.24Bellevue Gold (ASX:BGL): +9%, AU$1.33Almonty Industries (ASX:AII): +9%, AU$24.04Imdex (ASX:IMD): +9%, AU$4.01Sandfire Resources (ASX:SFR): +8%, AU$19.88

Elevra Lithium, Electro Optic Systems and Others Join S&P/ASX 200 Index

Elevra Lithium (ASX:ELV), Electro Optic Systems (ASX:EOS), FireFly Metals (ASX:FFM), Kingsgate Consolidated (ASX:KCN), and Minerals 260 (ASX:MI6) joined the S&P/ASX 200 Index before trading began on Monday, S&P Dow Jones Indices reported Friday.Meanwhile, Guzman Y Gomez (ASX:GYG), IDP Education (ASX:IEL), SiteMinder (ASX:SDR), Temple & Webster (ASX:TPW) and WEB Travel (ASX:WEB) were removed from the index as part of the rebalancing.

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Tuesday.ASX (ASX:ASX): -12%, AU$51.51Elevra (ASX:ELV): -7%, AU$12.75PEXA Group (ASX:PXA): -7%, AU$10.67Infratil (ASX:IFT): -5%, AU$12.29Yancoal Australia (ASX:YAL): -4%, AU$6.69Telix Pharmaceuticals (ASX:TLX): -4%, AU$12.82Challenger (ASX:CGF): -4%, AU$8.89Whitehaven Coal (ASX:WHC): -4%, AU$8.51Netwealth Group (ASX:NWL): -3%, AU$21.69Paladin Energy (ASX:PDN): -3%, AU$11.13

Elevra Lithium Says JPMorgan Chase Ceases to Be Substantial Holder, Shares Jump 6%

Elevra Lithium (ASX:ELV) said JPMorgan Chase and its affiliates ceased to be substantial holders of the firm on Tuesday, according to a Friday Australian bourse filing.Its shares jumped 6% in recent trading on Friday.

Elevra Lithium Shareholder Bank of New York Mellon Cuts Stake; Shares Rise 3%

Elevra Lithium (ASX:ELV) shareholder Bank of New York Mellon reduced its stake in the company to about 34.8 million shares, or roughly 18% of voting power, from about 36.2 million shares, or 21.3% of voting power, according to a Wednesday filing with the Australian bourse.Shares of Elevra Lithium gained 3% in recent Wednesday trade.

Elevra Lithium Completes AU$275 Million Fully Underwritten Institutional Placement; Shares Fall 9%

Elevra Lithium (ASX:ELV) has completed a fully underwritten AU$275 million institutional placement, issuing around 22.5 million new fully paid ordinary shares at AU$12.20 each, representing an 8.7% discount to the five-day volume weighted average price (VWAP), according to a Wednesday filing with the Australian bourse.The placement attracted strong demand from both existing shareholders and new domestic and international institutional investors, with settlement expected on Friday and trading scheduled to commence on May 18, per the filing.The company also intends to launch a share purchase plan for eligible shareholders to raise up to AU$20 million, with shares priced at the lower of the five-day VWAP up to the closing date or AU$12.20 per share, the filing said.The funds will be used to fully finance the NAL Brownfield expansion project, support key technical and pre-development activities at Moblan through to final investment decision, and maintain prudent liquidity and strategic optionality through market cycles, the filing added.The company's shares fell 9% in recent Wednesday trade.

Elevra Lithium Ends Waratah Deal, Secures Full Moblan Offtake Control

Elevra Lithium (ASX:ELV) said it has purchased and terminated a spodumene concentrate offtake agreement previously granted to an investment vehicle managed by Waratah Capital Advisors in relation to the Moblan lithium project, according to a Tuesday filing with the Australian bourse.Moblan is 60% owned by Elevra and 40% by Investissement Quebec.The deal eliminates a life-of-mine obligation that previously allowed Waratah to buy 10% of the company's production share at a 5% discount to market prices, per the filing.The company will issue Waratah $5 million in ordinary shares at AU$12.20 apiece and $500,000 in options at a 50% premium, with the options exercisable 120 days after closing on Tuesday and expiring three years thereafter, in exchange for terminating the agreement, the filing said.The repurchase strengthens the company's position at Moblan by eliminating a discounted long-term sales commitment and giving it full control of offtake, increasing flexibility for supply and financing arrangements, the filing added.

Elevra Lithium Raising AU$441 Million of Funds to Support Canada Projects

Elevra Lithium (ASX:ELV) is raising up to AU$441 million of funds to support its North American Lithium Brownfield expansion and to finance pre-development workstreams for its Moblan project in Canada, according to a Tuesday filing with the Australian bourse.The financing package consists of a AU$275 million fully underwritten institutional placement, a AU$146 million convertible notes investment by Canada Growth Fund, and a non-underwritten share purchase plan targeting gross proceeds of up to AU$20 million, per the filing.The company will issue about 22.5 million new shares in the institutional placement on Tuesday at AU$12.20 each. Its shares will remain in a trading halt until the placement is complete, with trading expected to resume on May 13.Meanwhile, the convertible notes investment by Canada Growth Fund will take place across two tranches, with the upfront tranche comprising AU$66 million worth of notes and a subsequent conditional tranche for AU$81 million.

Elevra Lithium Reports 102% Rise in Expansion Project NPV in Updated Scoping Study

Elevra Lithium (ASX:ELV) said an updated scoping study for the expansion of its North American Lithium (NAL) mine has increased the incremental post-tax net present value (NPV) of the expansion project by 102% to $718 million from $355 million in the previous study, according to a Tuesday Australian bourse filing.The company said the total NAL project post-tax NPV stands at $2.31 billion, with a post-tax internal rate of return (IRR) of roughly 42% and payback of 25 months.The updated study increases the process plant design feed rate to a permitted average of 4,500 tonnes per day in Stage 1 and 6,500 tonnes per day in Stage 2, with expanded production of 338,000 tonnes per year of spodumene concentrate at 5.4% lithium oxide and an average life-of-mine recovery of over 71%, the filing added.Total capital expenditure is $270 million across three stages, with Stage 1 incremental production ramp-up commencing in mid-2027 and Stage 3 construction forecast to be completed by mid-2029, with a revised mine life of 21 years, the filing added.Average life-of-mine C1 unit cost is $628 per tonne and all-in sustaining cost (AISC) is $683 per tonne once the expansion is fully operational, it added.

Elevra Lithium to Sell Ghana Lithium Project Stake to Zhejiang Huayou Cobalt

Elevra Lithium (ASX:ELV) agreed to sell its interest in the Ewoyaa Lithium Project in Ghana to Zhejiang Huayou Cobalt for around $71 million in cash before fees and taxes, according to a Monday Australian bourse filing.The deal transfers all of the company's project rights, including offtake rights, enabling it to withdraw from its funding commitments and streamline its portfolio to focus on North American assets, per the filing.The completion is expected in the first quarter of fiscal 2027, subject to regulatory approvals in Ghana.The proceeds from the transaction will strengthen the company's financial flexibility and support its growth initiatives, enhancing long-term shareholder value, the filing said.Huayou is also acquiring Atlantic Lithium's (ASX:A11) wider stake in the Ewoyaa Lithium Project through a separate scheme agreement worth about $210 million in cash, although Elevra's deal does not depend on this transaction, the filing added.

ASX Biggest Gainers

Here are the 10 ASX-listed companies with the biggest gains on Monday.Elevra Lithium (ASX:ELV): +7%, AU$12.92Newmont (ASX:NEM): +6%, AU$166.42IGO (ASX:IGO): +5%, AU$7.39Pilbara Minearls (ASX:PLS): +3%, AU$5.99Breville Group (ASX:BRG): +2%, AU$31.53Evolution Mining (ASX:EVN): +2%, AU$13.08Greatland Resources (ASX:GGP): +2%, AU$14.23Life360 (ASX:360): +1%, AU$21.23Sandfire Resources (ASX:SFR): +1%, AU$17.34Mineral Resources (ASX:MIN): +1%, AU$60.24

Elevra Lithium Posts Higher Spodumene Concentrate Production in March Quarter; Shares Reach Over Two-Year High

Elevra Lithium's (ASX:ELV) spodumene concentrate production from its North American Lithium operation in Canada rose to 47,332 dry metric tonnes (dmt) in the March quarter from 43,261 dmt during the same period last year, according to a Thursday filing with the Australian bourse.Spodumene concentrate sales were 55,526 dmt at an average realized selling price of $1,453 per dmt, up from 27,030 dmt at an average realized selling price of $710 per dmt in March 2025, the filing said.The company reaffirmed its fiscal 2026 production guidance of 180,000 dmt to 190,000 dmt and sales guidance of 170,000 to 190,000 dmt, subject to the fulfillment of the shipping schedule, per the filing.Shares rose about 2% in recent Thursday trade and earlier reached their highest since November 2023.

Elevra Lithium Says BNY Mellon Cuts Stake

Elevra Lithium (ASX:ELV) said The Bank of New York Mellon Corporation and its group entities have reduced their stake in the company on April 9 to 22.32% or 37.8 million shares from 23.33% or 39.5 million shares, according to a Monday Australian bourse filing.The company's shares fell 2% in recent Monday trade.