Elevra Lithium
Runs the restarted North American Lithium mine in Québec while developing a Carolina hydroxide project.
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Profile
Formed from the 2025 merger of two Australian-founded lithium miners, the company mines and sells hard-rock spodumene concentrate from an operating Québec mine while developing a second mine-and-conversion project in North Carolina. Revenue currently comes almost entirely from the Québec operation, with the North Carolina site still working through permitting.
The company mines and processes hard-rock spodumene concentrate for the battery-grade lithium supply chain, formed through a 2025 merger of two Australian-founded lithium miners — one centered on a restarted Québec mine, the other on a planned North Carolina project.
North American Lithium, near La Corne, Québec, resumed production in 2023 after a court-supervised restart and supplies most of current revenue; an expansion recently broke ground to raise concentrate output in the coming years.
Carolina Lithium, in Gaston County, North Carolina, would add a domestic mine and hydroxide plant but remains in permitting, with local rezoning still outstanding. Early-stage exploration ground in Québec rounds out the pipeline, while a Ghanaian project stake is being sold to concentrate resources on North America.
Company facts
Key statistics
Year to date +11.5% · Average volume (30d) 45.3K
Analysts
No analyst consensus on record.
Earnings
Not reported.
Financial highlights
| 2 quarters | — | — | — | — | Q4 FY24 | Q2 FY25 | |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $73.4M | $85.4M | |
| Gross profit | — | — | — | — | −$32.8M | −$15.2M | |
| Operating income | — | — | — | — | −$36.5M | −$7.8M | |
| Net income | — | — | — | — | −$168.7M | $78.1M | |
| Diluted EPS | — | — | — | — | −$22.91 | $5.55 | |
| Gross margin | — | — | — | — | -44.7% | -17.8% | |
| Operating margin | — | — | — | — | -49.7% | -9.2% |
Balance sheet, Dec 31, 2025Cash & short-term investments $87.1M · Total debt $0 · Total assets $754.1M · Shareholders' equity $606.6M
Dividends
No dividends on record.
Ownership
Shares outstanding 75.30M · Float 66.49M · 88.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Van Eck Associates Corporation | 12.40M | 6.40% | 13G | Aug 14, 2026 |
| Allan Charles Buckler · director | 683.9K | 0.91% | Form 4 | Mar 20, 2026 |
| UBS Group AG | 148.6K | 0.20% | 13F | Aug 13, 2026 |
| Legal & General Group PLC | 118.1K | 0.16% | 13F | Aug 14, 2026 |
| Readystate Asset Management LP | 92.3K | 0.12% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 2, 2026 | Sylvain Collard | officer: President Canada & Group COO | −41,561 | $5.77 |
Peers
- Albemarle
Overlapping NC spodumene projects and global lithium chemical supply
- Sigma Lithium
Direct hard-rock spodumene peer scaling output for the same EV battery buyers
- SQM (ADR)
Brine-based scale rival in lithium chemical supply and pricing
- Lithium Americas
Flagship US domestic-supply rival building GM-backed Thacker Pass
- Standard Lithium
Equinor-backed Arkansas DLE brine rival in North American lithium supply
- ioneer (ADR)
Nevada lithium-boron developer competing for US DOE-backed capital
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Elevra Lithium | $59.09 | +0.36% | $4.45B | 230.3 | — | 7.5 | — |
| Albemarle | $137.96 | +0.45% | $16.20B | — | 13.9 | 2.7 | +31.1% |
| Sigma Lithium | $12.25 | −0.08% | $1.37B | — | 12.9 | 9.7 | +341.3% |
| SQM (ADR) | $78.54 | −0.17% | $22.46B | 16.2 | 9.8 | 3.3 | +136.7% |
| Lithium Americas | $3.09 | +0.82% | $685.5M | — | — | — | — |
| Standard Lithium | $2.57 | +0.98% | $621.8M | — | — | — | — |
| ioneer (ADR) | $3.08 | −0.48% | $193.0M | — | — | — | — |
| Median | 16.2 | 12.9 | 3.3 | +136.7% |