Lithium Americas Stock Price, News & Analysis

Lithium Americas Corp. (LAC) announced a significant update for its Thacker Pass lithium project in Nevada, increasing the Mineral Resource estimate to 13.7 million tonnes (Mt) lithium carbonate equivalent (LCE) at 2,231 ppm Li for Measured and Indicated resources. The company is also raising its initial Phase 1 capacity to 40,000 tpa lithium carbonate, indicating a potential total capacity of 80,000 tpa after a Phase 2 expansion. The permitting process is on track, with key state permits expected in Q4 2021 and federal court hearings scheduled for early 2022. Early-works construction is anticipated to begin in H1 2022.

Lithium Americas Corp. (LAC) announced its financial results for Q2 2021, reporting a net loss of $19.3 million compared to $6.0 million in Q2 2020. Construction at the Caucharí-Olaroz project is on schedule for mid-2022 production start, with 85% of the budget committed. The company has $505 million in cash as of June 30, 2021. A feasibility study for the Thacker Pass project is expected by year-end, while engineering for a lithium hydroxide plant is ongoing. The company also completed a strategic $5 million investment in Arena Minerals.

Lithium Americas Corp. (LAC) announced an agreement to acquire 42,857,143 subscription receipts of Arena Minerals Inc. at C$0.14 each, totaling C$6 million. This investment gives Lithium Americas approximately 12.9% ownership in Arena Minerals, enhancing its exploration opportunities in Argentina, close to the Caucharí-Olaroz lithium project. The proceeds from this private placement will support Arena's Sal de la Puna project. Lithium Americas retains rights to participate in future financings and appoint a director to Arena's board, contingent on maintaining a specified ownership level.

Lithium Americas Corp. (LAC) has announced the election of Kelvin Dushnisky and Jinhee Magie to its Board of Directors following the Annual General Meeting (AGM) held on June 10, 2021. Dushnisky brings over 25 years of global mining experience, previously serving as CEO of AngloGold Ashanti. Magie has extensive finance experience, currently serving as CFO of Lundin Mining. The Board's composition change aligns with the company's transition from developer to operator, enhancing its leadership during this critical phase.

Lithium Americas Corp. (LAC) has announced plans for a Stage 2 expansion of its Caucharí-Olaroz lithium project in Argentina, aiming to increase production capacity by at least 20,000 tonnes per annum (tpa) of lithium carbonate equivalent by 2025. Stage 1 construction is on track for mid-2022 completion, with over 1,000 workers on-site and no COVID-19 cases reported in the past eight months. The company plans to provide further details on Stage 2 by Q4 2021, following an updated feasibility study in 2022.

Lithium Americas Corp. (LAC) announced its Q1 2021 financial results, reporting a net loss of $9.9 million, down from $14.0 million in Q1 2020. Key project updates include advancing the Caucharí-Olaroz lithium project towards mid-2022 production, with an increase in capital expenditures now at $641 million. The Thacker Pass project received its final federal approval on January 15, 2021, with construction expected to begin in early 2022. As of March 31, 2021, the company had $514 million in cash and cash equivalents, bolstered by a $377 million offering of common stock.

NACCO Industries reported a consolidated operating profit of $8.3 million for Q1 2021, up 9.9% year-over-year. Net income rose to $9.0 million, marking a 45.3% increase, with diluted earnings per share at $1.25, compared to $0.88 in Q1 2020. Improvements were driven by better earnings in the Coal Mining segment, despite lower earnings in North American Mining and increased employee-related expenses. The company's cash stood at $79.1 million with $44.4 million in debt. However, they anticipate a decrease in coal operating profit for 2021 due to expected lower earnings at Mississippi Lignite Mining Company.

Lithium Americas Corp. (LAC) announced its financial results for Q4 and the year ended December 31, 2020, reporting a net loss of $36.2 million compared to a net income of $51.7 million in 2019. The company continues progress on its Caucharí-Olaroz Lithium Project with $477 million of the $565 million budget committed. First production is expected in mid-2022. The Thacker Pass project received a Record of Decision from the US Bureau of Land Management in January 2021, with remaining permits anticipated later this year. The company had $148 million in cash at year-end.

Lithium Americas (TSX: LAC, NYSE: LAC) has successfully closed its underwritten public offering, issuing 18,181,818 Common Shares at US$22.00 each, raising approximately US$400 million. The offering included an over-allotment of 2,272,727 shares. Proceeds will primarily fund the development of the Thacker Pass lithium project and support general corporate needs. Canaccord Genuity led the offering, with several other financial institutions involved. This offering was made possible under a Canadian base shelf prospectus and a U.S. registration statement.