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No need to apologize my feelers aren't hurt. Nearly every sector in the market is down, select few stocks are up. Saying hmmmmm is pretty pointless but whatever floats your boat
i didn't mean to sound so harsh. my bad.
One would go insane trying to make sense of the markets right now, they are correcting. I'm buying dips of my keepers, I have already exited everything I do not intend to keep long going forward. The US is just about ready to run out of diesel fuel , this should be fun.....$LAC long and strong!
What? ENERGY stocks are up big -- what are you talking about. Oil is at $114/barrel and still rising!!!!!!
The entire market is in a correction and that doesn't make sense? Basically stocks have been over valued for over a year
$39s to $19: hmmm? makes no sense .. makes no sense
Time to top up! $LAC long and strong
from $41s to $23s. Hmmm
VANCOUVER , April 14, 2022 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") is pleased to announce the Company has submitted a formal application to the US Department of Energy (“ DOE ”) Loan Programs Office (“LPO”) for funding to be used at its 100%-owned Thacker Pass lithium project in Humboldt County, Nevada (“ Thacker Pass ”) through the Advanced Technology Vehicles Manufacturing Loan Program (“ATVM Loan Program”). The ATVM Loan Program is designed to provide loans for facilities located in the United States for the manufacturing of advanced technology vehicles and qualifying components used in those vehicles.
" Thacker Pass is a unique, large-scale and advanced-stage lithium project representing one of the most significant opportunities to create a domestic lithium supply chain to support the production of electric vehicles in the US,” said Jonathan Evans , President and CEO. “We are pleased to submit our formal loan application and look forward to progressing through the ATVM Loan Program process to accelerate development of Thacker Pass . We are very excited to become a leading supplier of domestic critical materials to support the growth of the domestic battery and electric vehicle industry in response to increased demand and interest from US-based consumers.”
The submission is not an assurance that Lithium Americas will secure funding from the ATVM Loan Program and additional steps remain in the process.
About Lithium Americas
Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production. In Argentina , Caucharí-Olaroz is advancing towards first production and Pastos Grandes represents regional growth. In the United States , Thacker Pass has received its Record of Decision and is advancing towards construction. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange , under the ticker symbol “LAC”.
For further information contact: Investor Relations Telephone: 778-656-5820 Email: ir@lithiumamericas.com Website: www.lithiumamericas.com
FORWARD-LOOKING STATEMENTS
Certain statements in this release constitute “forward-looking statements” within the meaning of applicable United States securities legislation and “forward-looking information” under applicable Canadian securities legislation (collectively, “forward-looking statements”). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, financial or operating performance and results, and speak only as of the date of this release. Such statements include without limitation, expectations regarding the status of development of the Company’s projects, expected potential benefits of the Thacker Pass project for creation of a battery supply chain in the United States and resulting benefits to the Company, the outcome of the Company’s loan application filed with the DOE , the completion of a feasibility study for the Thacker Pass project, ability to advance the Thacker Pass project to production and expected product quality, , plans for regional operations in Argentina and expected completion of construction of the Caucharí-Olaroz project, and plans regarding strategic alternatives to finance the Thacker Pass project.
Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, risks associated with mining project development, achieving anticipated milestones and budgets as planned, and meeting expected timelines; results of the Company’s engineering, design and permitting program at the Thacker Pass project, including the Company meeting deadlines and receiving and maintaining permits as anticipated; timing, results and completion of a feasibility study and to make a construction decision for the Thacker Pass project including capital and operating cost estimation; successful development of the Company’s projects and ability to produce battery-grade lithium; changes to availability of loan funding, assessment criteria or government policies concerning the DOE loan application; risks associated with the novel nature of the deposit at Thacker Pass ; ability of the Company to simultaneously advance multiple lithium projects to production, and integrate newly acquired operations into its business; availability of strategic alternatives to the Company and on satisfactory terms; risks inherent in litigation that could result in additional unanticipated delays or rulings that are adverse for the Company or its projects; maintaining local community support in the regions where the Company’s projects are located; changing social perceptions and their impact on project development and litigation; ongoing global supply chain disruptions and their impact on developing the Company’s projects; availability of personnel, supplies and equipment; the impact of inflation on the Company, its projects and their economic feasibility; expectations and anticipated impact of COVID-19 on the Company and its mineral properties; unanticipated changes in market price for the Company’s shares; changes to Lithium Americas’ current and future business plans and the strategic alternatives available to Lithium Americas ; changes in government policies and priorities; stock market conditions generally; demand, supply and pricing for lithium; and general economic and political conditions in Canada , the United States , Argentina and other jurisdictions where Lithium Americas conducts business. Additional information about these assumptions and risks and uncertainties is contained in the Company’s filings with securities regulators, including the Company’s most recent annual information form and most recent management’s discussion and analysis for the Company’s most recently completed financial year and interim financial period, which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov.
Although the forward-looking statements contained in this release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.
Source: Lithium Americas
Deutsche Bank Discusses Lithium Americas' Planned US Asset Separation
2022-04-13 09:28:10 AM ET (MT Newswires)
09:28 AM EDT, 04/13/2022 (MT Newswires) -- Deutsche Bank said Wednesday that it discussed the potential US asset separation of Lithium Americas Corp. (LAC.TO) during its Fireside Chat with CEO Jon Evans.
Deutsche Bank said the potential spinoff is driven by the company's increased focus on establishing a domestic lithium production and supply chain.
This comes as the US and many countries are focused on reshoring lithium production and establishing a domestic supply chain.
There has been an increased interest in local production over the last six to 12 months, which has been the driver for Lithium Americas to explore an asset separation, according to Deutsche Bank.
As I told you all here 3 years ago and did it for years getting hundreds in on LAC as all are now set to make big profits. Those 100s of long LAC investors are part of a PVT forum I meet on. Me personally I am up near a 2 million that is a 100% profit currently having got my original cash out lay back and a little $100k profit in Jan 2001 on only about 3% of my position. The only question for me is how many millions (: . A future hint of how big of a pop that its going to be in the months ahead is a bit of news that is going unnoticed just this month. A west coast EV maker after years of blocking them is lettings the UAW vote at the said EV plant. I guess the EV maker just saw the light lol or is it 60,000 tons of lithium plus a GIGA plant that enlighten the EV makers stance. AS the GIGA that LAC has a permit for at TP will have to be a Union one with all the federal loans its getting. The DD showed all this when I got in a pennies' a share in 2013 and 2014 as I posted on here 100 of times. Best prepare for the big bang coining in a multi Bagger pop Regards Jet LAC >>>>>>>>>>>>>>>>>>>>>>>>$$$$$$$$$$$$$$$$$$$$$$$$$$
Billjet17
Friday, September 14, 2018 3:17:47 PM
Re: tom the doc post# 8093
Post#
8095
of 10340
Doc Its the reason LAC is the best investment future wise Because with those metal Co's or EVs makers you have to pick the winners Like in the 1900s you had to pick which car company would make it Ford or the Hardy motor co Like then picking what they all needed Oil hence Standard Oil and today LAC Its really not that hard Regards Jet LAC>>>>>>>>>>>> PS Let the PPS site and up tic no need to say much and I think you know what a short is for today's short in tomorrow's long and Visa versa Its just when you sell LOL
Cauchari-Olaroz April 2022 video update
44 views Apr 5, 2022
Lithium Americas Corp.
9,383 followers
24m • 24 minutes ago
Cauchari-Olaroz continues to advance with commissioning set to commence in H2 2022. Watch our April construction video update to see progress towards bringing new lithium carbonate to market.
#Argentina Minera Exar S.A. GanfengLithium $LAC #lithium
https://lnkd.in/grj4B4NZ
https://www.linkedin.com/feed/update/urn:li:activity:6917177176316416000/
Thank you Ks and enjoy the weekend!
Yes, that is what I was trying to say. I did sell a few shares in late 2021 when surpassed $40 and bought a few back at the lows. My hope now would be that we get a strong base of support at least in the mid/high $30s or low $40s. This is not easy as we have seen so many times with this stock and it may take a big push to $50 in order to settle in the $40s. The current situation in the sector may help but I make no guarantees.
BTW, I am happy to have LAC, SYAXF and OROCF as my lithium trifecta
I do admit though that the weekly chart shows promise and room to grow and can't discount $50 or above for a high in the next month. It could be possible depending on all the local and world events going on, leading up to the earnings and maybe after earnings next month.
Going after that will depend on what LAC has done and will be forward projecting. We'll have to see what happens and can't discount the inflation, recession, market forces, world supply and demand problems, and how it effects any and all investments. I think everyone should remain cautious at least with any over exuberant expectations.
I assume you mean holding above $40, we had a high of 40.14 yesterday and still need to beat the 41.56 high. But we sure are a long way of the 52wk low. I would suspect at some point here to retrace to somewhere lower before continuing to the $60's where I personally project the value will be. Not this year for 50s, 60s, but good solid mid 40's lows could definitely be valid. There will probably be some sort of spin off and separation of company for policies of battery material supply procurement and will be interesting to see how that's going to play out with it all. But still combined values should easily reach the 60's and beyond within a couple of yrs.
For me anyways, it's nice to play all the dips and valleys along the way while my long positions are playing out.
$40 should be coming any day. $50 by summer?
LAC chart blue sky’s on deck
@edvedtrader $LAC smart money poured in the last two days it looks like before blue skys. $BOXS top OTC lithium play to watch right now hands down https://t.co/PpAlxIKDHs pic.twitter.com/BHaEgYcFGV
— TweetVestor3 (@TVestor3) April 1, 2022
This thing is a beast, the gift that keeps on giving! $LAC long and strong!
Biden to invoke Defense Production Act for electric vehicle battery materials
BY ZACK BUDRYK - 03/30/22 03:44 PM EDT
Biden to invoke Defense Production Act for electric vehicle battery materials
BY ZACK BUDRYK - 03/30/22 03:44 PM EDT
President Biden is set to invoke the Defense Production Act (DPA) as early as this week to step up production of minerals used to manufacture electric vehicle batteries, a source familiar the plans confirmed to The Hill.
Biden is set to issue a presidential determination to stoke domestic production of the minerals, which are used for both stationary batteries and vehicles. The person emphasized that the production will not bypass existing permitting or environmental review processes.
The addition of certain minerals, including lithium, cobalt, graphite, nickel and manganese, to the list of items covered under the law could give mining companies access to some $750 million under the DPA’s Title III fund, the person told The Hill.
The DPA, initially passed during the Korean War to boost aluminum and titanium production, grants the president authority to order domestic production ramped up of certain supplies. Former President Trump invoked it during the COVID-19 pandemic for meat production, while Biden used it shortly after taking office to ramp up production of pandemic-related supplies.
The person familiar told The Hill the White House will implement the order in collaboration with the Energy and Interior departments. The law will not be invoked for loans or direct purchases but rather funding for “feasibility studies, co-product and by-product production at current operations, and productivity/safety modernizations.”
Energy & Environment — Biden to order ramped-up EV battery production
On The Money — Labor market flashes strength ahead of jobs report
As gas prices increase amid the Ukraine conflict, environmental groups have frequently called for the Biden administration to invoke the DPA to aid the development of alternative and renewable fuels.
Bipartisan members of Congress have also backed the idea. Earlier this month, Sens. Joe Manchin (D-W.Va.), Lisa Murkowski (R-Alaska), James Risch (R-Idaho) and Bill Cassidy (R-La.) called for Biden to invoke the DPA for battery materials.
They specifically cited the near-monopoly Chinese companies hold on production of the materials in question, writing, “Allowing our foreign mineral dependence to persist is a growing threat to U.S. national security, and we need to take every step to address it.”
https://thehill.com/policy/energy-environment/600401-biden-to-invoke-defense-production-act-for-electric-vehicle-battery
Lithium Americas call volume above normal and directionally bullish
THE FLY 11:25 AM ET 3/30/2022
Symbol Last Price Change
LAC 37.1544up +4.2044 (+12.7599%)
QUOTES AS OF 02:36:57 PM ET 03/30/2022
Bullish option flow detected in Lithium Americas(LAC) with 38,743 calls trading, 9x expected, and implied vol increasing almost 6 points to 79.67%. Apr-22 40 calls and Apr-22 45 calls are the most active options, with total volume in those strikes near 17,300 contracts. The Put/Call Ratio is 0.06. Earnings are expected on May 5th.
Granholm told conference attendees she would work to streamline permitting for new sources of EV minerals, eliciting loud applause.
"It takes forever to get a new permit. How crazy is that?" said Granholm.
Granholm's department has already received applications for $2 billion in loans to fund U.S. strategic minerals projects from Lithium Americas Corp (LAC.TO), ioneer (INR.AX), Piedmont Lithium Inc (PLL.O) and others.
The department is also proactively contacting junior miners to discuss potential loans.
https://www.reuters.com/business/ceraweek-ev-demand-rises-biden-officials-warm-new-mines-2022-03-11/
It doesn't seem like that long ago we were OTC $LACDF @ $0.70ish per share. $LAC long and strong!
Wasn't that long ago, this stock was in the high $2s.
Excellent post, thank you!
The chip shortage has effected car production and sales to the whole auto market has a whole. That is really old news and way behind the information that all investors should have known and taken in consideration with stocks long ago. There is lot of shortages in different areas that are going to be effecting the way investments are examined. This includes ICE, EV's, and used vehicles EVERYWHERE. People seem to forget that even the ICE vehicles have become sort of hybrid with electric and won't be made, sold, operated, or repaired due to algorithmic, electrical control with involvement of the computer chip, and certain metals, etc.
But really doesn't have much to do with the future market of Lithium though, or the current supply quickly becoming less than the demand. That demand will continue even without any EV market and continue to increase value of LAC.
Every tool, modern tech, industrial, and home products has the demand for lithium and all different batteries that are needed and used. That's not even discussing other medical or other uses currently using lithium.
Why does one think that China has got the overwhelmingly control of all new tech batteries in the world market or why they have done yrs of this control and a large control of the land that produces lithium. They've known for a long time what demand is going to happen and is happening with that increase in demand vs supply.
So discussion of autos really doesn't have too much validity with the future profits or worth of LAC. Whether big oil or certain political factions slows down the transition of less dependency of oil, being paid off by the fossil fuel industry here in the US, the rest of the world mainly Europe and Asia will move on and leave the US in the dust when it comes to that. They already are, which will have nothing but positive effects for LAC. Even US auto maker know this and will be selling more EV's to other countries regardless of any market here in the US.
I suggest anyone not in awareness to these factors already and expressing really old news go back or start to learn better investing and research processes.
I know so in fact. But what's even more funny, is the daily car ads now here asking for anyone's used car to buy for cash! They simply have little inventory everywhere... Neon billboard at one Hickory, NC dealership by the Mall wanting cars to sell... never seen a time like this as far as vehicles unavailable regardless of the higher costs.
I'll be watching $TM and the likes to forecast EV implementation. GM is always late to the game and when they finally show up it is usually with some ill designed throw away car. $GM should have disappeared a long time ago. $LAC long
GM only sold 26 EVs in Q4!
Word is they are still sitting on dealer lots.
DOE Announces $5 Million to Launch Lithium-Battery Workforce Initiative
Industry and Labor will Partner on Five Pilot Programs to Train Battery Manufacturing Workers and Bolster the Domestic Battery Supply Chain
https://www.energy.gov/eere/amo/articles/doe-announces-5-million-launch-lithium-battery-workforce-initiative
WASHINGTON, D.C. — The U.S. Department of Energy (DOE), in coordination with the U.S. Department of Labor and the AFL-CIO, today announced the launch of a national workforce development strategy for lithium-battery manufacturing. As part of a $5 million investment, DOE will support up to five pilot training programs in energy and automotive communities and advance workforce partnerships between industry and labor for the domestic lithium battery supply chain. Lithium batteries power everything from electric vehicles to consumer electronics and are a critical component of President Biden’s whole-of-government decarbonization strategy. This workforce initiative will support the nation’s global competitiveness within battery manufacturing while strengthening the domestic economy and clean energy supply chains.
“American leadership in the global battery supply chain will be based not only on our innovative edge, but also on our skilled workforce of engineers, designers, scientists, and production workers,” said U.S. Secretary of Energy Jennifer M. Granholm, “President Biden has a vision for achieving net zero emissions while creating millions of good paying, union jobs — and DOE’s battery partnerships with labor and industry are key to making that vision a reality.”
“President Biden has made the creation of good union jobs a cornerstone of his climate strategy,” said AFL-CIO President Liz Shuler. “We applaud DOE for being proactive in pulling labor and management together as the domestic battery industry is being established, and we look forward to working with DOE and DOL to develop high-road training standards for the entire battery supply chain.”
“I am glad to see the Department of Energy collaborating with our industry partners to invest in the next generation of our clean energy workforce,” said U.S. Senator Joe Manchin (D-WV), Chairman of the Senate Energy and Natural Resources Committee. “While I remain concerned about our dependence on China and other foreign countries for key parts of the lithium-ion battery supply chain, engaging our strong and capable workforce to manufacture batteries domestically is a critical step toward reducing our reliance on other countries and ensuring we are able to maintain our energy security. I look forward to seeing this initiative grow, and we will continue to work closely together to ensure we can onshore the rest of the battery supply chain.”
The pilot training programs will bring together manufacturing companies, organized labor, and training providers to lay the foundation for the development of a broad national workforce strategy. The pilots will support industry-labor cooperation and will provide sites for job task analyses and documenting worker competencies. Insights gained will support the development of national industry-recognized credentials and inform the development of broader training programs to support the overall battery supply chain.
This initiative comes as part of suite of announcements from President Biden’s Interagency Working Group (IWG) on Coal and Power Plant Communities and Economic Revitalization—a partnership among the White House and nearly a dozen federal agencies committed to pursuing near- and long-term actions to support coal, oil and gas, and power plant communities as the nation transitions to a clean energy economy.
This announcement follows DOE’s recent release of two Notices of Intent authorized by the Bipartisan Infrastructure Law to provide $3 billion to support projects that bolster domestic battery manufacturing and recycling. The funding, which will be made available in the coming months, will support battery-materials refining, which will bolster domestic refining capacity of minerals such as lithium, as well as production plants, battery cell and pack manufacturing facilities, and recycling facilities.
It also builds on progress the Biden-Harris Administration and DOE have driven to secure a sustainable, reliable domestic supply of critical minerals and materials necessary for clean energy supply chains, including lithium. This includes $44 million in funding through the DOE Mining Innovations for Negative Emissions Resource Recovery (MINER) program to fund the technology research that increases the mineral yield while decreasing the required energy, and subsequent emissions, to mine and extract critical minerals such as lithium, copper, nickel, and cobalt.
Recent reports underscore the need for America to develop and sustain a robust workforce for the domestic battery supply chain, including the President’s 100-Day Supply Chain Review and DOE’s recently released Supply Chain Review for the Energy Sector Industrial Base. Last year, the Federal Consortium for Advanced Batteries published the National Blueprint for Lithium Batteries 2021-2030, which calls for the United States and its partners to establish a secure battery materials and technology supply chain by 2030.
I suspect that higher oil or pump price will continue and that will just increase LAC pps and support upward.
If you look at who controls the oil price and the output and the fact they want and need the price to be up and stay up is quite telling. Also telling which side of the isle gets more support in the donations and which side is more connected to big oil.
Give a hint, with Texas being the major percentage of oil produced in the US and major exporting of oil and oil products there, and where the biggest reserve is, where the oil pipe line and money to politicians would have been transported to, is also quite telling. But even in a more left side smaller oil producing state, you micro look at the area of oil production and control of the output within that state, also tells you a lot.
Another hint; the side that has most control of oil supply then in turn effecting prices at the pump in the US hasn't got the name Biden in it.
It's really the world oil market that sets the price, but here in the US there is flow that could increase with the push of a keyboard with already flowing wells, then they could uncap other already drilled wells and put so much output that it would supply us and exports.
But that would decrease profits for the oil cartel (and decrease price at the pump) and the one side most connected to big oil couldn't blame the other side so conveniently (also all the money that gets put in the pockets of politicians has to be earned somehow).
Given all those facts, it really bodes well for LAC.
I am of the opinion that market investment by major manufacturers is enough to have already set the stage for EV implementation to the majority. This is what will come to market regardless of other markets. I also belive higher energy prices will slow down or break the irrational exhuberance that has been present for the last 1.7 years, this time period is propped up with free money....$LAC long and strong!
Higher costs coming everywhere for US consumer. Electric gonna take a backs eat... Summer fuel blends requirements are going to happen raising gas prices much higher now. State energy costs are escalating, here in NC just got another 8%+ rate increase...
Lithium Americas Reports 2021 Full Year and Fourth Quarter Results
VANCOUVER, British Columbia , March 17, 2022 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (" Lithium Americas " or the "Company") has reported financial and operating results for the fourth quarter and year ended December 31, 2021 .
HIGHLIGHTS
Argentina
Caucharí-Olaroz
-- Construction continues to advance with a revised timeline; currently the
project is approximately 85% complete and commissioning is targeted to
commence in H2 2022.
-- 1,500 workers are on site with 100% of the workforce having
received at least two doses of a COVID-19 vaccine.
-- Around the end of 2021, construction activities were impacted by
COVID-19 Omicron disruptions impacting supply chains and
availability of the main contractor. Activities have returned to
normal and the Company continues to monitor the situation closely.
-- Additional resources have been added to accelerate and de-risk
commissioning and ramp-up timeline.
-- Total capital cost estimates have been revised to $741 million (on a 100%
basis), up 16% from $641 million , to reflect additional resources and
manpower, engineering modifications and inflationary cost pressures.
-- As of December 31, 2021 , 76%, or $565 million , of the $741 million
budget has been spent.
-- Progress on the second stage expansion of at least 20,000 tonnes per
annum ("tpa") of lithium carbonate equivalent ("LCE") continues to
advance with additions to the technical leadership team and drilling
program underway.
Pastos Grandes
-- In January 2022 , the Company completed the acquisition of Millennial
Lithium Corp. and the 100% owned Pastos Grandes for total consideration
of approximately $390 million .
-- In February 2022 , the Company hired Carlos Galli as Senior Director,
Project Development , Latin America , to oversee the development planning
for Pastos Grandes and integration and expansion of a team of over 50
workers based in Salta, Argentina .
Arena Minerals
-- In November 2021 , the Company increased its strategic investment in Arena
Minerals Inc. (TSX-V: AN) to approximately 17.4% for $10 million .
United States
Thacker Pass
-- In October 2021 , Measured and Indicated ("M&I") Resource estimates were
updated to 13.7 million tonnes ("Mt") LCE at 2,231 parts per million
lithium ("ppm Li"). See the Company's news release dated October 7, 2021
-- The Company continues to advance the Feasibility Study with an increased
targeted capacity of 40,000 tpa lithium carbonate and incorporating a
second phase expansion to reach a targeted total capacity of 80,000 tpa
lithium carbonate. Results of the Feasibility Study are expected in H2
2022.
-- The Company is continuing to optimize engineering to complete capital and
operating estimates. Capital costs are expected to substantially increase
due to the incorporation of increased scale, additional processing and
related infrastructure changes, and the results of engineering and
testing, as well as to account for external factors such as inflationary
pressures and supply chain considerations
-- The Lithium Technical Development Center is expected to be operational in
Q2 2022 to support ongoing optimization work and to provide product
samples for potential customers and partners.
-- In February 2022 , the Nevada Department of Environmental Protection
("NDEP") issued the final key state-level environmental permits: Water
Pollution Control Permit, Class II Air Quality Operating Permit and
Exploration and Mine Reclamation Permits.
-- An appeal on the Record of Decision continues to advance through Federal
court process with a ruling expected in Q3 2022.
-- In February 2022 , the Company announced that it submitted a draft
application to the US Department of Energy for funding to be used at
Thacker Pass through the Advanced Technologies Vehicle Manufacturing Loan
Program.
-- Discussions continue with potential strategic partners and customers.
Corporate
-- As at December 31, 2021 , the Company had $511 million in cash and cash
equivalents with an additional $75 million in available credit.
-- In December 2021 , the Company completed a convertible senior note
offering of $259 million at 1.75% due in 2027. Net proceeds were
primarily used to repay the $205 million senior secured credit facility
and remove security over Thacker Pass , and to repay in early 2022 $25
million outstanding on its subordinate loan facility.
-- In January 2022 , the Company began to work with IRMA (Initiative for
Responsible Mining Assurance) to pilot their new draft IRMA -Ready
Standard for Responsible Mineral Exploration and Development.
-- In February 2022 , Richard Gerspacher joined as Senior Vice President
Capital Projects to oversee execution of the Company's development
projects. Most recently, Mr. Gerspacher served as Vice President and
Projects Director for Fluor Corporation leading the development of an
advanced stage lithium chemical project in Australia .
-- In February 2022 , the Company commenced the process to explore a
separation of its US and Argentina operations, through the creation of a
standalone public company focused on the development of Thacker Pass .
TECHNICAL INFORMATION
The Technical Information in this news release has been reviewed and approved by Rene LeBlanc , PhD, SME, Chief Technical Officer of Lithium Americas , and a Qualified Person as defined by National Instrument 43-101.
FINANCIAL RESULTS
Selected consolidated financial information is presented as follows:
(in US$ million except per share
information) Year ended December 31,
2021 2020
$ $
-------------------------------------------- ------------- -----------
Expenses (46.1) (30.6)
Net loss (38.5) (36.2)
(Loss)/income per share -- basic (0.32) (0.39)
As at December 31,
(in US$ million) As at December 31, 2021 2020
$ $
----------------------- ----------------------- ----------------------
Cash and cash
equivalents 510.6 148.1
Total assets 817.3 326.7
Total long-term
liabilities (272.8) (127.3)
During the year ended December 31, 2021 , total assets and cash increased primarily due to the $377.4 million net proceeds raised from the underwritten public offering of common shares, partially offset by expenditures in the period. Total long-term liabilities increased primarily due to drawdowns on the Company's $205 million senior credit facility and the $250 million in net proceeds raised from the convertible senior notes, which was used to fully repay the $205 million senior credit facility at the end of 2021.
The higher net loss in 2021 compared to 2020 is primarily attributable to higher Thacker Pass expenditures.
This news release should be read in conjunction with Lithium Americas' consolidated financial statements and management's discussion and analysis for the year ended December 31, 2021 , which are available on the Company's website and SEDAR. All amounts are in U.S. dollars unless otherwise indicated.
ABOUT LITHIUM AMERICAS
Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production. In Argentina , Caucharí-Olaroz is advancing towards first production and Pastos Grandes represents regional growth. In the United States , Thacker Pass has received its Record of Decision and is advancing towards construction. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange , under the ticker symbol "LAC".
For further information contact:
Investor Relations
Telephone: 778-656-5820
Email: ir@lithiumamericas.com
Website: www.lithiumamericas.com
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" and "forward-looking statements" (which we refer to collectively as forward-looking information) under the provisions of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking information. Examples of forward-looking information in this news release include, among other things, statements related to: successful development of the Caucharí-Olaroz project and the Thacker Pass project, including timing, progress, construction, milestones, expansion plans, scale, anticipated production and results thereof; expectations and anticipated impact of COVID-19 on the Company and its projects; timing for commissioning, and plans to accelerate the commissioning and timeline for the Caucharí-Olaroz project; estimates of capital and operating expenditures and substantial changes thereto for any project, including factors expected to contribute to such changes; the Company's ability to fund its development programs through debt or equity financing, including through government loan programs; timing, capacity, expansion plans, completion of a feasibility study and sufficiency of water rights for the Thacker Pass project; Company expectations as to timing for technical development center operations for Thacker Pass , the outcome of such
(MORE TO FOLLOW) Dow Jones Newswires
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operations and production of samples; government regulation of mining operations and treatment under governmental and taxation regimes; expected timing and outcome of litigation or regulatory processes concerning the Thacker Pass project; the estimated amount and grade of mineral resources for the Thacker Pass project; expected outcome and timing of environmental surveys and analysis, permit applications and other environmental matters; expected environmental impacts of the Company's projects; expected expenditures to be made by the Company on its properties; the timing, cost, quantity, capacity, product quality of production and sufficiency of brine inventory of the Caucharí-Olaroz project, which is held and operated through an entity in Argentina co-owned by the Company, Ganfeng Lithium Co. Ltd. (" Ganfeng") and Jujuy Energia y Mineria Sociedad del Estado (JEMSE); successful operation of the Caucharí-Olaroz project under the co-ownership structure, and expectations concerning proposed expansion plans for the project; results of the Company's engineering, design and permitting program at the Thacker Pass project, including the Company meeting deadlines and receiving and maintaining permits as anticipated; the Company's share of the expected capital expenditures for the construction of the Caucharí-Olaroz project; expected benefits of acquisitions and investments in third parties made by the Company; the potential for partnership and financing scenarios for the Thacker Pass project; and the proposed separation of the Company's business, the completion thereof and its structure.
Forward-looking information is based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such information. Such information reflects the Company's current views with respect to future events and is necessarily based upon a number of assumptions that, while considered reasonable by the Company today, are inherently subject to significant uncertainties and contingencies. These assumptions include, among others, the following: current technological trends; a cordial business relationship between the Company and Ganfeng for the Caucharí-Olaroz project; ability of the Company to fund, advance and develop the Caucharí-Olaroz project and the Thacker Pass project, and raise additional capital as needed; the Company's ability to operate in a safe and effective manner; uncertainties relating to receiving and maintaining mining, exploration, environmental and other permits or approvals in Nevada and Argentina , and resolving any complaints or litigation concerning such environmental permitting processes; realizing on the expected benefits from previous transactions with existing or new partners, or for debt financing; demand for lithium, including that such demand is supported by growth in the electric vehicle market; the Company's ability to produce high purity battery grade lithium products; the impact of increasing competition in the lithium business, and LAC's competitive position in the industry; currency exchange and interest rates; general economic conditions; stable and supportive legislative, regulatory and community environments in the jurisdictions where the Company operates; stability and inflation of the Argentinian peso, including any foreign exchange or capital controls which may be enacted in respect thereof, and the effect of current or any additional regulations on the Company's operations; the impact of unknown financial contingencies, including costs of litigation and regulatory processes, on the Company's operations; gains or losses, in each case, if any, from short-term investments in Argentine bonds and equities; estimates of and unpredictable changes to the market prices for lithium products; exploration, development and construction costs for the Caucharí-Olaroz project and the Thacker Pass project; the timing, cost, quantity, capacity and product quality of production at the Thacker Pass project, and any expansion scenario; successful results from the Company's testing facility and third-party tests related thereto for the Thacker Pass project; capital costs, operating costs, and sustaining capital requirements of the Caucharí-Olaroz project and the Thacker Pass project; technological advancements and changes; estimates of mineral resources and mineral reserves, including whether mineral resources will ever be developed into mineral reserves; reliability of technical data; anticipated timing and results of exploration, development and construction activities, including the impact of COVID-19 on such timing; timely responses from governmental agencies responsible for reviewing and considering the Company's permitting activities at the Thacker Pass project; the Company's ability to obtain additional financing to fund the development of its projects, including pursuant to government loan applications; the ability to develop and achieve production at any of the Company's mineral exploration and development properties; the impact of COVID-19 on the Company's operations, timelines and budgets; that pending patent applications are approved; the Company's anticipated ownership interest in holdings of shares, warrants and other securities issued by third parties; accuracy of development budget and construction estimates; preparation of a development plan and feasibility study for lithium production at the Thacker Pass project; changes to the Company's current and future business plans and the strategic alternatives available to the Company; and general economic and stock market conditions.
Forward-looking information also involves known and unknown risks that may cause actual results to differ materially. These risks include, among others, inherent risks in the development of capital intensive mineral projects (including as co-owners), variations in mineral resources and mineral reserves, changes in budget estimation, global demand for lithium, recovery rates and lithium pricing, risks associated with successfully securing adequate financing, changes in project parameters and funding thereof, risks related to growth of lithium markets and pricing for products thereof, changes in legislation, governmental or community policy, changes in public perception concerning mining projects generally and opposition thereto, political risk associated with foreign operations, permitting risk, including receipt of new permits and maintenance of existing permits, outcomes of litigation and regulatory processes concerning the Company's projects, title and access risk, cost overruns, unpredictable weather and maintenance of natural resources, unanticipated delays, intellectual property risks, currency and interest rate fluctuations, operational risks, health and safety risks, cybersecurity risks, economic conditions, and general market and industry conditions. Additional risks, assumptions and other factors are set out in the Company's most recent annual management discussion analysis and annual information form, copies of which are available under the Company's profile on SEDAR at www.sedar.com and on the SEC website at www.sec.gov.
Although the Company has attempted to identify important risks and assumptions, given the inherent uncertainties in such forward-looking information, there may be other factors that cause results to differ materially. Forward-looking information is made as of the date hereof and the Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Accordingly, readers are cautioned not to place undue reliance on such forward-looking information.
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We=you. Major manufacturers have already placed their investments and it is EV. The trend is your friend. $LAC long and strong.
Lithium Americas: New Russian Sanctions Should Push Lithium Higher
Mar. 09, 2022 9:00 AM ETLithium Americas
Austin Craig
https://seekingalpha.com/article/4493864-lithium-americas-new-russian-sanctions-should-push-lithium-higher
Summary
Thacker Pass will most likely spin off from Lithium Americas. This would make it a pure USA lithium play and open doors to gov funding.
Rising oil prices per Russian sanctions will benefit EV adoption.
Government loans could fund 50% of Thacker Pass via a 25-year loan (per CEO Interview) at lower treasury rates.
Lithium prices and demand continue to rise.
Given that the South American project will come online this year, Lithium Americas stock appears to be very undervalued in this market.
Lithium Americas (LAC) CEO Jonathan Evans was interviewed by Kitco News. This was one of the better lithium interviews. Frankly, you should watch the entire interview, but we will give readers a recap and analysis. Before we begin, realize that all electric cars require lithium. If you think EV is the future, then the reader needs to identify lithium producers that offer a good risk to reward ratio. Furthermore, rising oil prices (per Russian sanctions) will apply additional pressure to adopt EV vehicles as pain at the pump motivates consumers to vacate ICE engines.
Lithium, From Russia With Love
Casting aside the geopolitics of Russia and Ukraine, one has to simply look at the White House to get a rough guess where energy is going. Hint: Up, Up and away! The Keystone pipeline is still shut down. Now politicians want to block oil supplies from Russia and Belarus. In turn, the consequence will be higher fuel prices which we are already experiencing at the pump. We feel the pinch of increased inflation for the broad economy. In an interesting note, Saudi Arabia seems to be playing its cards well.
Conversely, efforts are in place to obtain oil from less-than-savory sources such as Iran (with its deep history of supporting terrorism) or Venezuela. Rising oil prices will put additional pressure on EV adoption and this presents us with opportunity. All we need to do is target lithium stocks, buy and hold. While Ukraine impacted metals are at the moment all the rage, lithium prices are rocketing higher. Eventually, Mr. Market will wake up and take notice. We need to have lithium stocks ready in our holdings and one of the best is Lithium Americas. Let's take a moment to review the CEO interview highlights and then cruise over to some demand news.
Lithium Americas CEO Interview Highlights
Moving on, let's look at some interview highlights from the CEO of Lithium Americas. Highlights of the CEO interview include:
At the 2:15 mark -
"For supply chain in the US today, for batteries is about 40,000 tons per year which is going to go to excess of 400,000 tonnes per year by 2030. So imagine the entire world supply today needs to be replicated just for use in North America in just ten years."
3:00 mark - lithium prices are discussed and Mr. Evans quips
"[Lithium prices] have certainly come up quite a bit and they will come up more where the price of lithium will never be in the range it was a few years ago. It's actually needed though because the question you asked me earlier "How do you get there?", It requires a lot of investment and that's the thing that has lacked in this industry for more than a decade."
4:00 mark - Industry consolidation is discussed.
5:00 mark - Long term pricing of lithium is discussed.
"The pricing that I think you are going to see is going to be above $20,000 a ton. Now your finally at a place that you can get sufficient capital returns to risk that capital, put it in the ground, in order to deliver it to customers at the end of the day."
Now at first glance you might be wondering what Mr. Evans is talking about, since Lithium is obviously much higher priced than $20,000 a ton at the moment. In fact, it is near $75,000.
price of lithium, lithium going to $100,000
Lithium Price in Metric Tons (Dailymetalprice)
(Source: Dailymetalprice.com - Arrow is per the author)
5:57 Mark - Ukraine and the impact on lithium via higher gas prices are discussed.
6:50 Mark - "80% of the processing is done in China, it's probably a little bit more actually". Further discussions of China processing is discussed. Well worth hearing.
8:40 Mark - Electric update by consumers is discussed. Update faster than expected per Mr. Evans.
Thacker Pass Government Funding Exposed
9:30 Mark - The discussion starts and Mr. Evans states in a little bit:
"Post appeal this summer, we are shovel ready. We are starting to line up financing sources, the strategic partnerships, but also leveraging the Department of Energy, which has a very active loan program office now, which offers basically debt up to 50 to 60% of the capital costs of the project at fixed treasury rates for up to 25 years."
Additional details can be found via this PR. It would behoove other lithium/cobalt companies such as HeliosX (OTCQB:HXLTF), Cypress Development (OTCQB:CYDVF), Electra Battery Metals (OTCQX:ELBMF), and Standard Lithium (SLI) to take a similar approach to obtain funding. Moving on.
11:14 Mark - Mr. Evans goes on to talk about the legal case. Well worth hearing for anyone investing in Lithium Americas.
Thacker Pass Spin Off Discussed
12:30 Mark - A detailed discussion involving spinning off Thacker Pass is discussed. Investor concerns; geopolitics; a ban on China investing in crucial elements in the U.S.; national security are discussed. Consider it mandatory listening.
Lithium Americas Eying Canada?
I've known for quite some time LAC is poking around and looking for new projects. As I've previously stated, they are the most aggressive North American lithium company. It comes as little surprise that LAC might eventually look at Canada, but at this point it is just a blurb; however, still one to watch and be aware of as it makes the puzzle pieces easier to fit into place.
14:00 Mark - "In the US, Thacker Pass is actually, could be a cornerstone asset for a business that could follow another regional strategy here, because there is actually more resources in the U.S. and several in Canada that could be developed by the team here."
Strategic Partnership Process
16:00 Mark - Per Mr. Evans, "The Strategic partnering process has started for Thacker Pass". "Filed with the Department of Energy for a loan", "Process takes 6-9 months". "We have $500 million on the balance sheet".
Moving on to lithium prices and demand.
Lithium Prices
We can also see prices blasting off at Benchmark Mineral Intelligence below.
lithium prices, lithium, Jonathan Evans, Lithium Americas, HeliosX
Lithium Prices (Benchmark Mineral Intelligence)
(Source: Benchmark Mineral Intelligence)
lithium prices, lithium blasting off, Thacker Pass, Lithium Nevada
Lithium Prices (Benchmark Mineral Intelligence)
(Source: Benchmark Mineral Intelligence)
Most lithium project studies (PFS / DFS) price lithium in the $9000 to $12,000 range. Given the explosion in lithium prices these figures are rather stale and inaccurate now. Eventually yes lithium prices will come down. However, we can all safely assume that $20,000 is a very conservative estimate of long-term future lithium prices for the ground level. Hence, a lot of the NPV (Net Present Value) figures in the studies are now much lower than they should be as lithium has blasted off. The takeaway is when you read the company's NPV figures, realize they were calculated when lithium was $9,000 to $12,000 typically and are nowhere near reality. This bodes well for lithium investments.
Lithium Supply & Demand News
Demand for lithium is rising and future demand is in the works via various projects that will come online in the future. Projects such as:
Tesla Gigafactory in Germany has been approved.
Panasonic is rumored to be considering a battery deal w/ Tesla in Kansas or Oklahoma.
Unconfirmed reports place Ford at investing $40-$50 billion in EV.
A Porsche Taycan goes coast to coast on 2.5 hours of charging.
Firestone offers charging stations.
LG Energy to spend $1.7 billion on battery factory in the US.
Glencore & Britishvolt to build lithium / cobalt recycling plant in the U.K.
US Gov to put $5 billion into EV chargers nationwide over five years. An additional $2.5 billion will be released later on. (Total $7.5 billion)
EV models will double by 2024.
Pentagon to stockpile rare earths (includes lithium).
Mississippi snags a $500 million Nissan EV plant.
Conclusion
With rising lithium prices, eventually the masses will, once again, focus on lithium investments. Right now various lithium companies are trading at fire sales prices that are frankly not logical. Yet, that is the nature of the market. On the flip side, inflation is a concern and years of loose money have indeed propped up the market. Could the market pain train continue? Absolutely, and it can continue longer than you have liquidity.
The point is if you are in this game for the long term, then lithium needs to be in your holdings. At the same time be careful and nibble in small portions. Various short-term negative events will get resolved with time. We need to have solid investments in place for when good times cycle around again. Lastly remember that rising fuel prices (per internal and external Russian sanctions) will quicken EV adoption.
Link? (reputable source). BS (little bits of truth to massive amount of lies) of course. They haven't got enough rigs to drill all the permitted wells that we have now. Will be busy drilling for quite some time. We have already 10's of thousands of drilling permits already given out in the last few yrs ready for drilling along with all the capped oil wells that could be uncapped to produce plenty that already drilled. No more oil permits won't make one iota of difference. We also EXPORT more oil and gas than we import.
Mining permits are still being given out obviously. Putting the word "Biden" in everything doesn't negate the reality of things.
Who's we? Must not be in the group that Ford, GM, Tesla, etc are spending 10's of Billions of dollars to produce EV's for. Must be too small of group to stop the reasons for China gaining control of over 50% of Lithium mining and 75% of the world's mega battery factories.
You might be right though, I'm sure it's all done for no profit and no market for EV's in any foreseeable future. They are just throwing billions/trillions $ away because they can I guess. I could go on all day, but it is a worthless debate. "We" better get their act together, "we" is paying big time now and will get worse because they haven't, ignoring the impending issues in the past.
The clouds of War will pass (I hope) at some point in time and when the dust settle's the views (and reality) will become much clearer to "we".
We have absolutely no interest in driving electric vehicles!
It will be ICE!
Of course security of this country was never a concern with certain previous administrations, only with how much it could be up for sale. But to address the statement, I'm trying to see the connection.
No link, no explanation with how, whatever it was, connected to LAC. How did or how would it effect the value or price action now or in the future, at least WHAT was thought be effecting. Pretty lacking with the topic of LAC.
If one thinks that this administration has blocked ALL mining and oil leases or permits, in particular, any LAC permitting, then please show the link and document that would pertain to that. At least some resemblance of an explanation.
If not it shows poor research on the issues, or maybe no research at all, and isn't any help at all to analyze our investments into LAC. But maybe that's not the intent, not sure, beyond me to figure it out.
Which mining leases/permits are getting held up and why? Does it have anything to do with this company. We've recently been updated on certain legal processes and how that was related, but I'm very open to anything pertaining to LAC.
Are any denials for purpose that will effect here. Or is it just saving our water sources that we are in such short supply, worse than in like 1200 yrs. Pretty soon we're going to paying more for water than oil.
Maybe just not taking profit and resources for personal gains, doesn't matter how helter-skelter it's done, just take what's not theirs. Ravaging all the other resources around it. Is LAC doing things like those examples or anything that it will effect the value here?
If one just puts a little time into some real research and investing they would find out things like examples given below, but I can't find why it would connect to LAC. All ears for any input that is directly related to my investment and ATM, and what, why, where. This is just a few and the list can be extremely long, so I'll leave it up to others that need to hone their skills to come up with more for discussion:
New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%
Thousands of Permits OK’d Despite President’s Authority to End Drilling by 2035
WASHINGTON— New federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration’s first-year total of 2,658.
Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management’s New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits — more than twice the 71 drilling permits Trump approved in that state in his first year.
biden-is-approving-more-oil-gas-drilling-permits-public-lands-than-trump-analysis-finds/
The Biden administration on Tuesday said it found “significant deficiencies” in a Trump-era environmental analysis of a mining road that would cut through wilderness and Indigenous territory in northwest Alaska.
The construction of Ambler Road is one of the most high-profile environmental issues in Alaska, as it would bring 211 miles of new road through one of the largest roadless areas in the country.
The Interior Department said in a statement that the road proposal — which includes about 50 miles of Bureau of Land Management and National Park Service land — would cross the traditional homelands of Alaska Native communities including the Koyukon, Tanana Athabascans and Iñupiat peoples.
In a federal court filing Tuesday, the administration asked the U.S. District Court for Alaska to send the permit approval back to the department so it can conduct a new environmental analysis. Interior said that it would suspend the right of way for the road while it carried out the new assessment “to ensure that no ground-disturbing activity takes place that could potentially impact the resources in question.”
Alaska Native groups endorsed the decision.
Some opponents of the road found the Biden administration’s decision lacking. Trustees for Alaska, an environmental group that has sued to stop the road, criticized the administration for not revoking the permits and said it “failed to acknowledge the full and long list of legal problems with the Interior Department’s approval process.”
“This project never should have been authorized in the first place, and the agencies can’t fix their broken analysis by papering over their mistakes after the fact,” Suzanne Bostrom, senior staff attorney with Trustees for Alaska, said in a statement.
https://www.washingtonpost.com/climate-environment/2022/02/22/ambler-road-alaska/
A controversial mining project near Minnesota's Boundary Waters Canoe Area Wilderness may be dead after the Biden administration canceled two mineral leases on Wednesday.....
in a release. "This action by the Biden administration re-establishes the long-standing legal consensus of five presidential administrations and marks a return of the rule of law. It also allows for science-based decision-making on where risky mining is inappropriate."
....Mineral leases first issued in 1966 were eventually purchased by Twin Metals Minnesota, a subsidiary of Chilean mining conglomerate Antofagasta [A FORIGN COMPANY], which in the early 2000s drilled millions of feet of core samples on the land. The project was halted in 2016 when the Obama administration denied Twin Metals' application to renew the leases. But the Trump administration reversed that decision and renewed the leases just three years later.
U.S. interior secretary Deb Haaland said the Trump administration made a mistake in reinstating the leases.
"We must be consistent in how we apply lease terms to ensure that no lessee receives special treatment," Haaland said in a press release. "After careful legal review, we found the leases were improperly renewed in violation of applicable statutes and regulations, and we are taking action to cancel them."
https://sports.yahoo.com/biden-administration-cancels-mining-permits-164702637.html
Lucky for us, they just did. It is an issue of national security. $LAC long
Strange events here indeed, as Biden Admin just few days back stated they are NOT going to give any new permits for mining/oil exploration projects within the USA...???
VANCOUVER, British Columbia , Feb. 28, 2022 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") is pleased to announce the Company has submitted a draft application to the US Department of Energy (" DOE ”) for funding to be used at its 100%-owned Thacker Pass lithium project in Humboldt County, Nevada (“ Thacker Pass ”) through the Advanced Technologies Vehicle Manufacturing Loan Program (the “Loan Program”). The Loan Program is designed to provide funding to US companies engaged in the manufacturing of advanced technology vehicles and components used in those vehicles.
" Thacker Pass is a unique, large-scale and advanced-stage lithium project representing one of the most significant opportunities to create a truly domestic lithium supply chain to support the production of electric vehicles in the US,” said Jonathan Evans , President and CEO. “We are pleased to submit our draft application and look forward to engaging with the DOE to accelerate the growth of the domestic lithium industry in response to increased demand and interest from US-based consumers.”
Exploring Creation of Separate US Lithium Business
Lithium Americas continues to make meaningful progress at its projects in both the United States and Argentina :
United States : In addition to the draft application with the DOE , the Company received all final key state permits for Thacker Pass on February 25, 2022 . Funding discussions with a variety of strategic partners are ongoing along with the completion of the feasibility study incorporating increased scale, additional processing and related infrastructure changes and the results of engineering and testing. Capital and operating cost estimates are being updated to reflect these changes, as well as to account for external factors such as inflationary pressures and supply chain considerations.
Argentina : The Company’s Caucharí-Olaroz lithium brine project (“Caucharí-Olaroz”) is set to complete construction this year as the largest new battery-quality lithium carbonate brine operation to come online in over 20 years. The Caucharí-Olaroz expansion and the recently acquired Pastos Grandes lithium brine project (“Pastos Grandes”) provide further growth potential to support a regional lithium operation in northern Argentina .
As Lithium Americas continues to advance its projects in both regions towards production, the Company has started the process of exploring a separation of its US and Argentina operations, through the creation of a standalone public company focused on the development of Thacker Pass . The Company is assessing available alternatives and structures to effect such separation.
“We have world-class assets in both regions with tremendous potential,” said Mr. Evans . “While no final decision has been made, we believe a separation could enable each of our businesses to maximize and accelerate their strategic objectives, with dedicated focus and increased financial flexibility.”
Mr. Evans added, “Thacker Pass is one of the largest-scale and most advanced development-stage lithium projects in the US and received a Record of Decision (“ROD”) in January 2021 . The project is aligned with the national agenda to enhance domestic supply of critical minerals and has the potential to be a leading near-term source of lithium for the US battery supply chain.”
No final decision has been made with respect to any potential separation transaction. No assurance can be given as to whether a separation transaction will take place, the form of any such transaction or the timing of any transaction.
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