Lithium Americas Stock Price, News & Analysis

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.

Lithium Americas Corp. (LAC) announced its underwritten public offering of 15,909,091 common shares at US$22.00 per share, generating gross proceeds of US$350 million. The offering is managed by Canaccord Genuity and other underwriters, with options for an additional 2,272,727 shares. Anticipated closing is set for January 22, 2021, subject to regulatory approval. Proceeds will fund the Thacker Pass lithium project and general corporate needs. The offering is available in the U.S. and Canada, excluding Québec.

Lithium Americas Corp. (NYSE: LAC) announced a planned underwritten public offering of its common stock, with the size contingent on market conditions. The offering will include the potential for an additional 15% of shares through an Over-Allotment Option. Canaccord Genuity leads the offering, along with Deutsche Bank Securities, Evercore ISI, and Stifel as joint managers. The offering is subject to various conditions and is intended for use in the company’s ongoing projects in Argentina and Nevada. Details will be available through the company's prospectus and regulatory filings.

Lithium Americas Corp. (NYSE: LAC) announced that the United States Bureau of Land Management issued the Record of Decision (ROD) for its Thacker Pass lithium project. This marks a significant milestone after over 10 years of efforts and completes the federal permitting process under the National Environmental Policy Act. The project, wholly owned by Lithium Nevada Corp., is crucial for advancing financing discussions with potential partners. Key state permits and water rights transfers have also been applied for, with results expected later this year.