ELEVRA LITHIUM LIMITED
ASX:ELVMaterialsToday’s holders own 72.0% of what they think they own, once every option and right converts.
4 cash raises in 24 months; options/rights overhang 39% of shares; share count grew 15% in 24 months; since relisting as ELV; prior history under SYA not included
ELEVRA LITHIUM LIMITED, which has traded under the ticker ELV since September 2025 after a rename from SYA, has had its share count grow 15.0% between October 2025 and June 2026, reaching 194M shares. In this period, the company raised capital four times for a total of A$506.1M. The most recent raise was A$145.0M from convertible notes in May 2026. Outstanding options and rights could convert into 76M new shares, representing 38.9% of the current share count, with 4% of these in the money at the current share price. The nearest expiry for these options is December 2028. ELEVRA LITHIUM LIMITED has not lodged a current quarterly cash report, meaning no funding-runway figure is available on that basis.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 2 Aug 2026 | 3G · unquoted | ELV : ORDINARY FULLY PAID | 194.0M | Appendix 3G |
| 7 July 2026 | 3G · unquoted | ELV : ORDINARY FULLY PAID | 194.0M | Appendix 3G |
| 6 July 2026 | 3G · unquoted | ORDINARY FULLY PAID | 194.0M | Appendix 3G |
| 3 July 2026 | 3H · cancellation | ELV : ORDINARY FULLY PAID | 194.0M | Appendix 3H |
| 30 June 2026 | 3G · unquoted | ORDINARY FULLY PAID | 194.0M | Appendix 3G |
Capital raises
4 cash raises in the last 24 months · 2 in the last 12 months · counted since relisting as ELV (22 Sept 2025); prior history under SYA is not included
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
- Price-triggered8.1M · 4.2% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered2.5M · 1.3% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
- Converts on terms65.0M · 33.5% of sharesConvertibles with no exercise price — they convert on their own terms, so they are shares in all but name.
Exercise price on record: 8.1M priced (of which 8.0M in the money), 67.5M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.
Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.
At $7.62 today, 8.0M securities are in the money (4.1% of shares on issue) — a floor, because an exercise price is on record for only 10.7% of this supply. No more priced supply until 3× today’s price, which takes it to 8.1M (4.2% of shares).
- Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
- 67.5M (89.3% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| ELVAN | Options | Price-triggered | $4.80 | 31 Dec 2028 | 8.0M | Filing |
| ELVAB | Options | Price-triggered | $18.30 | 12 May 2029 | 57k | Filing |
| ELVAM | Performance rights | Condition-triggered | — | — | 2.5M | Filing Meeting |
| — | Notes | Converts on terms | — | — | 65.0M | Filing |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.
A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.
- ELVAAPrice-triggered15k securities → 08 Dec 2025 Appendix 2A
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 5 June 2026 | Laurie Lefcourt | Buy entitlement/SPP | 1k | — | — | $15k | 3Y notice |
| 5 June 2026 | Lucas Dow | Buy entitlement/SPP | 2k | — | — | $30k | 3Y notice |
| 17 Feb 2026 | Lucas Dow | Other incentive | — | — | 335k | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.