Lithium Americas Corp (LAAC)

[Raffis]

Post this on ST:

“Ganfeng has Lithium Contracts with BMW, Tesla Inc and LG Chem Ltd as key customers, expand its dominance over the EV supply chain.”

https://www.reuters.com/article/lithium-americas-ganfeng-lithium-idUSL1N2A704J

Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) Recently provided results of a
40,000 tonnes per annum ("tpa") definitive feasibility study ("40,000 tpa DFS"
or "DFS") on the Caucharí-Olaroz lithium project ("Caucharí-Olaroz" or the
"Project") currently under construction in Jujuy Province, Argentina.
Caucharí-Olaroz is 100% owned by Minera Exar S.A. ("Minera Exar"), a 50/50
joint venture between Lithium Americas and Ganfeng Lithium Co., Ltd. ("Ganfeng
Lithium"). Lithium Americas and Ganfeng Lithium have authorized Minera Exar to
proceed with the plan to produce 40,000 tpa of battery-quality lithium
carbonate ("Li [2] CO [3] ") as outlined in the DFS.

"With construction underway and funding in place, the results of the 40,000
tpa DFS further supports Caucharí-Olaroz as a scalable, high-purity source of
lithium carbonate for battery material customers," commented Jon Evans,
President and CEO of Lithium Americas. "We are thankful for the hard work from
the team at Minera Exar, the support from the government of Jujuy, and our
50/50 joint venture partner, Ganfeng Lithium, for their financial and
technical contributions towards optimizing the process design and securing key
equipment for the lithium carbonate plant."
https://www.bloomberg.com/press-releases/2019-10-15/how-mining-stocks-may-be-benefiting-from-political-and-social-forces-pushing-electric-vehicle-ev-demand-to-new-levels

Ganfeng and Lithium America’s are in a 100% joint venture named “MINERA EXAR,” which is all LAC, for the LAC PROJECTS IN ARGENTINA AND NEVADA. The joint venture is: (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce that it has completed the previously announced transaction with Ganfeng Lithium Co., Ltd. (together with its subsidiaries, “Ganfeng Lithium”) in respect of their joint venture company, Minera Exar S.A. (“Minera Exar”) (the “Transaction”). Minera Exar owns 100% of the Caucharí-Olaroz lithium project (“Caucharí-Olaroz”) currently under development in Jujuy, Argentina.
The
“On closing, Ganfeng Lithium subscribed for new shares of Minera Exar for cash consideration of US$16 million increasing its interest from 50% to 51%, with Lithium Americas owning the remaining 49%. In addition, Lithium Americas received US$40 million in cash from the proceeds of a non-interest-bearing loan from Ganfeng Lithium. For more details on the Transaction, please refer to the Company’s press release dated February 7, 2020.”
https://www.globenewswire.com/news-release/2020/08/27/2085160/0/en/Lithium-Americas-and-Ganfeng-Lithium-Complete-the-Cauchar%C3%AD-Olaroz-JV-Transaction.html