Welcome to our dedicated page for Lithium Americas news (Ticker: LAAC), a resource for investors and traders seeking the latest updates and insights on Lithium Americas stock.
Lithium Argentina AG, historically associated with the LAAC ticker and now trading as LAR on the TSX and NYSE, issues regular news updates on its lithium production and corporate developments. Company news releases describe Lithium Argentina as a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles, operating the Cauchari-Olaroz lithium brine operation in Argentina in partnership with Ganfeng.
News items commonly cover operational performance at Cauchari-Olaroz, including lithium carbonate production levels, plant utilization rates and guidance for future production. The company also reports on operating cost metrics and discusses optimization efforts aimed at improving recoveries, product quality and cost structure at the operation.
Another recurring theme in Lithium Argentina’s news is regional growth in Argentina. The company provides updates on a regional development plan for the Pozuelos-Pastos Grandes basins and related projects such as Pastos Grandes and Sal de la Puna, which it is advancing with Ganfeng under a letter of intent. These announcements often reference phased development using solar evaporation and direct lithium extraction technologies and targeted lithium carbonate equivalent capacity.
Corporate and capital markets developments also appear in the company’s news flow. Lithium Argentina has reported on its plan to establish, and subsequent completion of, a corporate migration to Switzerland, its name change to Lithium Argentina AG, and the continuation of its listings on the TSX and NYSE with a change in trading symbol. Investors following LAAC or LAR news can use this page to review earnings release dates, quarterly and annual results, technical report filings and updates on financing arrangements related to the Cauchari-Olaroz operation and regional projects.
Lithium Argentina (TSX/NYSE: LAAC) announced plans to establish corporate domicile in Switzerland, rebranding as Lithium Argentina AG in early 2025. The strategic move requires shareholder, stock exchange, and court approval. The company will maintain its TSX and NYSE listings under the new symbol 'LAR' and continue operating under North American securities laws. The operational headquarters will relocate to Buenos Aires, Argentina. The company's partner, Ganfeng, has agreed to a three-year standstill agreement preventing acquisition of controlling interest. A special shareholder meeting is scheduled for January 17, 2025, to approve the continuation.
Lithium Argentina (LAAC) reported Q3 2024 results, highlighting a 21% increase in production at Caucharí-Olaroz to 6,800 tonnes compared to Q2. The facility is operating at 75-80% of its 40,000 tonnes annual design capacity. The company maintains its 2024 production guidance of 20,000-25,000 tonnes. Realized prices were approximately $8,000 per tonne in Q3, with recent prices declining to $7,000 per tonne. The company reported a net loss of $2.4 million, compared to a $6.6 million gain in Q3 2023. Cash position stands at $92 million, with total assets of $1.12 billion and liabilities of $228.1 million.
Lithium Americas (Argentina) Corp. (TSX: LAAC) (NYSE: LAAC), also known as Lithium Argentina, has announced the release of its third quarter 2024 earnings results on November 5, 2024, after market close. The company will host a webcast and conference call to discuss these results on November 6, 2024, at 10:00 a.m. ET.
Investors and interested parties can access the webcast through the Investor Relations section of the company's website. The event, titled 'Lithium Argentina Third Quarter 2024 Earnings Call,' will be available via the provided attendee URL. Following the event, a webcast replay will be accessible through the News and Events page on the company's website.
Lithium Americas (Argentina) Corp. (TSX/NYSE: LAAC) has completed a transaction with Ganfeng Lithium, selling a 14.9% interest in its Pastos Grandes project for $70 million. The deal strengthens Lithium Argentina's balance sheet, reduces short-term debt at Caucharí-Olaroz, and supports future growth plans. Pastos Grandes, acquired in early 2022, is located in the same basin as Sal de la Puna and adjacent to Ganfeng's Pozuelos-Pastos Grandes project.
The companies are collaborating on a regional development plan for the Pastos Grandes Basin, with results expected by the end of 2024. Lithium Argentina anticipates that attractive fiscal incentives from Argentina's Large Investments' Incentive Regime (RIGI) would apply to its long-term development plans at Pastos Grandes and the Stage 2 expansion of Caucharí-Olaroz.
Lithium Argentina (LAAC) reported Q2 2024 results, highlighting significant progress in its Caucharí-Olaroz operation. The project is operating at 70% capacity, with production reaching 5,600 tonnes of lithium carbonate, a 24% increase from Q1. The company maintains its 2024 production guidance of 20,000-25,000 tonnes. Financial highlights include $96M in cash and an undrawn $75M credit facility. Net income for Q2 was primarily due to a $10.8M deferred tax recovery. The company expects to close the Pastos Grandes Transaction soon, providing additional liquidity to reduce leverage at Exar.
Lithium Americas (Argentina) Corp. (TSX: LAAC) (NYSE: LAAC), also known as Lithium Argentina, has announced the release of its second quarter 2024 earnings results on August 13, 2024, after market close. The company will host a webcast and conference call to discuss these results on August 14, 2024, at 10:00 a.m. ET.
Investors and interested parties can access the webcast through the Investor Relations section of the company's website. A replay of the webcast will be available following the event on the News and Events page of the Lithium Argentina website.
Lithium Americas (Argentina) Corp. (TSX: LAAC, NYSE: LAAC) announced the results of its annual general and special meeting held on June 20, 2024. Eight directors were re-elected, with votes overwhelmingly in favor: John Kanellitsas (95.19%), Sam Pigott (97.99%), George Ireland (88.99%), Diego Lopez Casanello (98.52%), Robert Doyle (98.48%), Franco Mignacco (98.09%), Monica Moretto (98.70%), and Calum Morrison (98.49%).
Shareholders set the Board size at eight members, re-appointed PricewaterhouseCoopers LLP as auditor, and approved amendments to the incentive plan and executive compensation approach. Detailed results and further information are available on SEDAR and the company’s website.
Lithium Argentina published its 2023 Sustainability Report, covering ESG progress from January 1 to December 31, 2023. The Company's report emphasizes its commitment to sustainable lithium production, highlighting the commencement of operations at the Caucharí-Olaroz project, which produced 6,000 tonnes of lithium carbonate in its first six months. The report also details achievements such as creating an inventory of Scope 1 and 2 emissions, identifying over 400 species, issuing Human Rights and Anti-Corruption policies, and showcasing board and workforce diversity. The full report is available on their website.
Lithium Argentina (LAAC) reported results for Q1 2024, highlighting operational and financial achievements. The Caucharí-Olaroz project produced 4,500 tonnes of lithium carbonate in Q1 and aims to produce 20,000-25,000 tonnes by year-end. The project will be cash flow positive in 2024, although working capital needs remain high.
Financially, Lithium Argentina holds $86M in cash and expects $20M in loan collateral release in Q2. The company carries $259M in convertible debt due in 2027. Minera Exar, the JV, has $241M in local debt, currently being refinanced. Ganfeng's $70M investment for a 15% stake in Pastos Grandes is expected to close mid-2024.
Corporate measures include a 25% reduction in discretionary spending. The company reported a net loss of $10.2M ($0.06/share) compared to $6.4M ($0.04/share) in Q1 2023. Total assets decreased to $1,046.1M, with $86.2M in cash. An investor webcast is scheduled for May 14, 2024.
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