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I find no mention in either the Poetic Edda or Snorri's Prose Edda of Elbegast, Alegast or Elegast.
The Dvergatal in Vǫluspá, the most likely candidate for a mention, lists three dwarfs whose names include the name element Alf (Elf); Alfr, Gandalfr and Vindalfr, but none of those are a close match.
