Core Insights - Elevra Lithium has reached a commercial milestone with a non-binding memorandum of understanding (MoU) to supply spodumene to the North American market, potentially aligning with a local downstream partner [1][4] Group 1: MoU Details - Under the MoU, Elevra could supply Mangrove with up to 144,000 tonnes of spodumene per year for an initial five-year term starting in calendar year 2028, ramping up to 144,000 tonnes per annum by calendar year 2030 [2] - Mangrove plans to process the spodumene concentrate in eastern Canada, utilizing a modular, scalable electrochemical refining platform to convert feedstocks into battery-grade lithium hydroxide [3] Group 2: Strategic Implications - Elevra's CEO, Lucas Dow, indicated that the partnership with Mangrove may enhance cost efficiency and competitiveness, while also supporting the Canadian government's initiative to establish a secure critical minerals supply chain [4] - The MoU strengthens Elevra's commercial position in the lithium market, which is critical for the growing electric vehicle (EV) sector [4] Group 3: Company Overview - Elevra has multiple lithium projects in North America, including the North American Lithium project in Québec and a 60% stake in the Moblan lithium project, as well as the Carolina lithium project in the U.S. [5] - Elevra's stock price increased by 11.8%, reaching $7.20 per share following the announcement [6]

Core Viewpoint - Elevra Lithium Limited has signed a non-binding Memorandum of Understanding with Mangrove Lithium to supply spodumene concentrate, potentially enhancing the domestic lithium supply chain in Canada and supporting the construction of a lithium conversion facility [1][6]. Group 1: Agreement Details - The non-binding MoU outlines negotiations for a definitive agreement where Elevra could supply up to 144,000 tonnes per year of spodumene concentrate to Mangrove at market-related prices, ensuring positive cash flow for North American Lithium [2][3]. - The proposed supply is set for an initial five-year period starting in 2028, ramping up to 144,000 tonnes per annum by 2030, which would account for approximately 46% of estimated sales volumes [3]. Group 2: Strategic Benefits - The collaboration aims to establish a resilient domestic battery supply chain in Canada, reducing reliance on overseas processing and enhancing local job creation [7][9]. - Elevra's supply to a local partner is expected to improve cost efficiency and reinforce the competitiveness of operations, minimizing freight and logistics costs [8][9]. Group 3: Technological and Environmental Aspects - Mangrove has demonstrated the viability of its lithium conversion process through a pilot plant and has constructed North America's first commercial electrochemical lithium refining plant, which has a capacity of 1,000 tonnes per annum [4][5]. - The proprietary refining platform developed by Mangrove eliminates solid waste byproducts and utilizes low-cost, low-carbon electricity, providing both environmental benefits and a cost-competitive alternative to traditional lithium refining methods [5][10]. Group 4: Financial Backing - Mangrove recently secured an US$85 million financing round led by Canada Growth Fund, with participation from notable investors such as Breakthrough Energy and BMW i Ventures, indicating strong financial support for its operations [5].

Vancouver, British Columbia--(Newsfile Corp. - February 9, 2026) - Grit Metals Corp. (TSXV: FIN) (FSE: K9T) (OTCQB: EUEMF) ("Grit" or the "Company") announces that, subject to regulatory approval, it has engaged the services of Plutus Invest and Consulting GmbH ("Plutus"), to provide the Company with marketing and communications services for a twelve-month term commencing on February 9, 2026. Plutus is providing the consulting services pursuant to a consulting agreement (the "Agreement") entered into with ...

Market Overview - Australian shares continue to rise, with a +0.4% advance in futures following a +1.9% increase the previous day, supported by a rebound in Wall Street technology stocks [1][3] - The Nasdaq index is up +0.9%, while the S&P 500 and Dow Jones both increased by +0.5%, indicating a recovery in market sentiment after a previous decline [3] Company News - Electro Optic Systems (ASX:EOS) is under scrutiny as it prepares to respond to a short sell report from Grizzly Research, with the market expecting the release before market open [4] - Elevra Lithium (ASX:ELV) has signed a Memorandum of Understanding (MOU) to supply Mangrove Lithium with spodumene concentrate, with expectations to supply up to 144,000 tonnes per year [4] - PLS Group (ASX:PLS) has secured a multi-year offtake agreement with Canmax for 150,000 tonnes of spodumene at a price of US$1,000 per tonne [5] - Eastern Gas Corp (ASX:EGA) is set to debut on the ASX, focusing on oil and gas exploration in the Cooper and Surat Basin, with an initial market capitalization of $5.5 million [5] - Compushare (ASX:CPU) and Amotiv (ASX:AOV) are also expected to report earnings, with CSL (ASX:CSL) leading a series of quarterly reports [5][6] Commodity Prices - The Australian dollar is trading at US 70.9 cents [7] - Iron ore prices have increased by nearly +1%, currently at $99.80 per tonne [7] - Brent crude oil has risen by +1.5%, now priced at $69.06 per barrel [7] - Gold is trading at $5,095 per ounce, while US natural gas futures have decreased by -8% to $3.14 per gigajoule [7]

Core Viewpoint - Elevra Lithium has signed a non-binding Memorandum of Understanding (MoU) with Mangrove Lithium to supply spodumene concentrate from the North American Lithium (NAL) mine, aiming to strengthen its position in the North American electric vehicle sector and support local battery supply chains [1][2][9]. Group 1: Agreement Details - The MoU outlines negotiations for a definitive agreement where Elevra could supply up to 144,000 tonnes per year of spodumene concentrate to Mangrove at market-related prices, ensuring positive cash flow for NAL [4]. - The proposed supply is set for an initial five-year period starting in 2028, ramping up to 144,000 tonnes per annum by 2030, which would account for approximately 46% of estimated sales volumes [5]. Group 2: Processing and Production Capacity - Mangrove plans to process the spodumene concentrate into battery-grade lithium hydroxide or carbonate in Eastern Canada, potentially on-site at NAL, to support a domestic battery supply chain [5]. - The facility is expected to produce 20,000 tonnes of battery-grade lithium annually, sufficient for 500,000 electric vehicles [6]. Group 3: Financial and Strategic Implications - Mangrove has secured $85 million in financing, led by Canada Growth Fund, with participation from various investors, indicating strong financial backing for its operations [8]. - Elevra's CEO emphasized that this partnership enhances cost efficiency and competitiveness while aligning with the Canadian Government's strategy to build a secure critical minerals supply chain [9].

West Vancouver, British Columbia--(Newsfile Corp. - February 9, 2026) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5C) (the "Company" or "Surge") is pleased to announce that Nevada North Lithium LLC (NNL), the joint venture formed by Surge and Evolution Mining Limited (Evolution) has selected Fluor Enterprises, Inc. ("Fluor") as the lead engineering firm to lead the Pre-Feasibility Study ("PFS") at its flagship Nevada North Lithium Project ("NNLP").The selection of Fluor, one of the worl ...

Core Insights - American Battery Technology Company (ABTC) reported a quarterly revenue increase of over 1,300% year-over-year while total operating expenses decreased by 24% year-over-year, indicating significant operational efficiencies [1][2] - The company achieved a key cash flow milestone where combined revenue from operations and interest income exceeded cash cost of goods sold for the first time [2][4] Financial Highlights - For Q2 FY 2026, the company reported combined revenue and interest income of $5.1 million, with $4.8 million from operations and $0.3 million from interest [8] - The cash cost of goods sold (cash-COGS) was reported at $4.9 million, with total COGS at $6.4 million, which includes non-cash costs of $1.1 million in depreciation and $0.4 million in stock-based compensation [8][10] - The company ended the quarter with a cash balance of $48.7 million, including $47.9 million in unrestricted cash and $0.8 million in restricted cash, and reported zero debt [8] Operational Developments - The company expanded its manufacturing operations significantly, generating more revenue in this quarter than in the previous four quarters combined [2] - ABTC's recycling operations drove revenue growth through increased processing volumes from high-value feed materials, including batteries from Battery Energy Storage Systems (BESS) and end-of-life electric vehicles [20] - The company is advancing the design and commercialization of a second battery recycling facility in the Southeast U.S., which will have approximately five-fold the capacity of its first facility [20] Strategic Projects - The Tonopah Flats Lithium Project (TFLP) is positioned as a cornerstone of the domestic lithium supply chain, with projected production of 30,000 tonnes per year of lithium hydroxide monohydrate [20] - The project has an after-tax NPV at 8% of $2.57 billion and an IRR of 21.8%, highlighting its financial viability [20] - ABTC has completed and submitted all baseline studies for the National Environmental Policy Act (NEPA) review process, marking a significant milestone in the project’s development [20]

Core Viewpoint - Noram Lithium Corp. has successfully closed a non-brokered private placement financing, raising gross proceeds of $1,067,500 through the issuance of 10,675,000 units, each consisting of one common share and one common share purchase warrant [1]. Group 1 - The financing was conducted without a broker, indicating a direct approach to capital raising by the company [1]. - The total gross proceeds from the offering amount to $1,067,500, which reflects the company's ability to attract investment [1]. - A total of 10,675,000 units were issued, each unit comprising one common share and one warrant, which may provide future capital opportunities for the company [1].

Financial Data and Key Metrics Changes - The company achieved record high revenues of approximately $4.8 million for the quarter ending December, along with an additional $300,000 in interest income, totaling $5.1 million [5][14] - Operating costs increased to about $4.9 million for cash expenses, with total costs including non-cash items reaching approximately $6.4 million, indicating a close alignment between revenue generation and operational costs [6][8] - The company reported a cash balance of $48.7 million at the end of the quarter, marking one of the highest cash positions in years and zero debt on the balance sheet [7][8] Business Line Data and Key Metrics Changes - The lithium-ion battery recycling business has seen substantial scaling, with operational efficiencies leading to a minor increase in costs compared to revenue growth [6][9] - The company is in the process of designing and constructing a second battery recycling facility in the Southeast U.S., in addition to the existing facility near Reno [10] - The lithium hydroxide production from claystone is progressing, with the Tonopah Flats Lithium Project moving through maturity steps and demonstrating a competitive production cost of just over $4,300 per ton [13][14] Market Data and Key Metrics Changes - The company is receiving increased material from both the automotive sector and the stationary grid battery energy storage systems, indicating a diversified material sourcing strategy [8][9] - The company has received its CERCLA certification, allowing it to process materials from various stationary facilities across the country, enhancing its operational capabilities [9] Company Strategy and Development Direction - The company is focused on implementing a closed-loop infrastructure for battery recycling and critical mineral extraction, aiming to close the supply chain for lithium [3][4] - The strategic hiring of a new Chief Financial Officer is expected to support the ramp-up of business units and operational improvements [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about passing the break-even point for the recycling plant and continuing to grow margins as operations scale [7] - The company is actively working with federal agencies to expedite the permitting process for its lithium hydroxide facility, which has been designated as a priority project [12] Other Important Information - The company has successfully paid off all remaining debt and convertible notes, resulting in a strong balance sheet with no debt [8] - The company continues to receive government grants that support the operation and construction of its facilities [14] Q&A Session Summary Question: Can you discuss progress related to the ramp-up of the $30 million EPA cleanup agreement? - Management confirmed that the Moss Landing project in Northern California has been receiving material since the end of summer, contributing significantly to the factory's feedstock, and they are on pace to receive more material from this and other sources [16]

Financial Data and Key Metrics Changes - The company achieved record high revenues of approximately $4.8 million for the quarter ending December, with an additional $300,000 in interest income, totaling $5.1 million in revenue and interest income [5][6][16] - Operating costs increased to about $4.9 million in cash expenses, with total costs including non-cash items reaching approximately $6.4 million, indicating a close alignment between revenue generation and operational costs [6][9] - The company reported a cash balance of $48.7 million at the end of the quarter, marking one of the highest cash positions in years and indicating strong financial health with zero debt [8][9][17] Business Line Data and Key Metrics Changes - The company operates two main business units: lithium-ion battery recycling and lithium hydroxide production from claystone [2][3] - The first recycling facility has scaled operations significantly, receiving increased material from both the automotive sector and stationary grid battery energy storage systems [9][10] - The second battery recycling facility is under design and construction in the Southeast US, indicating expansion efforts in the recycling business [11] Market Data and Key Metrics Changes - The company has received substantial material from the Moss Landing project in Northern California, which is part of a $30 million EPA cleanup agreement, contributing significantly to feedstock for the recycling facility [18] - The company has established strong relationships with the EPA and has received a rare CERCLA certification, allowing it to process materials from various stationary facilities across the country [10] Company Strategy and Development Direction - The company is focused on implementing a closed-loop infrastructure for battery recycling and critical mineral extraction, aiming to close the supply chain for lithium [3][4] - The Tonopah Flats Lithium Project is progressing, with the company working on a definitive feasibility study to secure investment for the mine and refinery [12][15] - The company aims to enhance operational efficiencies and scale operations at its facilities, with plans to add value-added processes [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about passing the break-even point for the recycling plant and continuing to grow margins as operations scale [7] - The company is actively engaging with federal agencies to expedite the permitting process for its lithium hydroxide production facility, reflecting a proactive approach to regulatory challenges [13][14] Other Important Information - The company has welcomed a new Chief Financial Officer, Alex Flores, who brings over 20 years of experience in the battery and automotive sectors [5] - The company has received government grants that support the operation and construction of its facilities, contributing to its financial stability [16] Q&A Session Summary Question: Can you discuss progress related to the ramp-up of the $30 million EPA cleanup agreement? - The company confirmed that the Moss Landing project has been decommissioning for several months and has been receiving material since the end of summer, which represents a substantial portion of the feed into the factory [18]