Lithium Americas Nevada Funding.
May 5 SQM , the Chilean chemicals group, said late Wednesday its joint venture with Canadian junior miner Lithium Americas to develop a lithium project in Argentina will require $500-$600 million in total expenditures.
Lithium Americas is already in discount deals for Lithium not even in production and not even funded for there Half the Argentina 300 million.
So when I read about a study or Plant being built around a never proven extraction process that is not even funded I start to wounder what the future price of the share value will be after and if all there deals go down.
I am sure some investors thought TESLA would infuse cash by signing a deal or even putting up the money for the rights to a discounted price.Like how the used there TESLA name with early stage supply agreements with lithium extraction operations in Nevada (Pure Energy Minerals) and in Mexico (Bacanora Minerals and Rare Earth Minerals).
Lithium Americas CEO Tom Hodgson commented, “Extracting lithium from clays at a
commercial scale level requires vision, capital, and talent. We are always in the process of trying
to determine the optimal path to advance our projects to achieve long-term success, and we are
excited with a new focus from the team at Lithium Nevada Corp. In today's strong lithium market,
there is no question that LNC's resource in Nevada represents tremendous long-term value.
Dr. David Deak, Chief Technical Officer of LAC and President of Lithium Nevada Corp. commented, “We
are committed to developing this very large Nevada clay-based lithium resource to provide the battery
industry with a new supply source of lithium hydroxide. Our efforts in 2016 will be focused on establishing
new design criteria for low cost commercial scale production of lithium hydroxide with a flow sheet and
mine plan that sets new standards for environmental sustainable resource development. We will be
advancing the engineering development work, and growing the technical team to build on the excellent
foundation that has already been established.”
