Welcome to our dedicated page for Lithium Americas news (Ticker: LAC), a resource for investors and traders seeking the latest updates and insights on Lithium Americas stock.
Lithium Americas Corp. reports developments tied to the construction and financing of Thacker Pass, its lithium project in Humboldt County, Nevada. Company news commonly covers project updates, annual and quarterly results, DOE ATVM loan activity, at-the-market equity programs, and capital-structure actions supporting processing facilities and mine development.
Coverage also includes governance changes such as board appointments, common-share trading matters on the TSX and NYSE, and index-related corporate updates. The company is a Canadian resource and materials issuer focused on lithium deposits and chemical processing facilities in North America.
Lithium Americas Corp. (LAC) has successfully closed a US$225 million offering of 1.75% convertible senior notes due 2027. Proceeds will be used to fully repay a US$205 million secured credit facility, with remaining funds allocated for general corporate purposes. The notes are convertible at a price of approximately US$47.10 per share, representing a 35% premium over the stock's last sale price. An over-allotment option of US$33.75 million allows initial purchasers to increase the offering size. This financing enhances the company's capital structure and financial flexibility.
Lithium Americas Corp. (LAC) has announced the pricing of a US$225 million offering of convertible senior notes due in 2027. An over-allotment option for an additional US$33.75 million is also available. The notes will accrue interest at 1.75% per annum, with a conversion rate starting at 21.2307 shares per US$1,000 principal amount. The company plans to use the proceeds to repay existing debt and for general corporate purposes. The offering is expected to close around December 6, 2021, pending regulatory approvals.
Lithium Americas Corp. (LAC) has announced a proposed offering of $225 million in convertible senior notes due in 2027. The offering includes an option for initial purchasers to buy an additional $33.75 million. The unsecured notes will accrue interest payable semi-annually and can be converted into cash or common shares under specific conditions. Proceeds will be used to repay indebtedness and for general corporate purposes. The offering is subject to market conditions and regulatory approvals from the TSX and NYSE.
Lithium Americas Corp. (LAC) announced a significant investment on November 24, 2021, acquiring 23,369,003 common shares of Arena Minerals Inc. at C$0.54 each, totaling approximately US$10 million. This purchase increases Lithium Americas' stake in Arena to 66,226,146 shares, representing 18% of the total shares outstanding. The investment solidifies Lithium Americas' commitment to resource development in Argentina, particularly near its Caucharí-Olaroz lithium project. Additionally, Ignacio Celorrio, President for Latin Americas at Lithium Americas, is expected to join Arena's board.
Lithium Americas Corp. (LAC) has announced a definitive agreement to acquire Millennial Lithium Corp. (ML) for C$4.70 per share, totaling approximately US$400 million. This transaction grants Millennial shareholders around 9.1% ownership in Lithium Americas based on its recent share price. The acquisition aims to enhance Lithium Americas’ growth strategy by integrating Millennial's Pastos Grandes project, leveraging synergies with its Caucharí-Olaroz operation. The deal is subject to regulatory approvals and is expected to close in January 2022.
Lithium Americas Corp. (LAC) announced its Q3 2021 results, highlighting progress on its Caucharí-Olaroz and Thacker Pass projects. Construction at Caucharí-Olaroz is 81% complete, with an expected first production by mid-2022. Total expenditures were $519 million. Thacker Pass is set for early works in H1 2022, targeting an increase in lithium carbonate production capacity to 40,000 tpa. Financially, LAC reported a net loss of $17.2 million for Q3 2021, up from $6.5 million in Q3 2020, with a cash balance of $482 million. The company also plans an offer to acquire Millennial Lithium Corp. valued at approximately $400 million.
Lithium Americas Corp. (LAC) announced an unconditional offer to acquire Millennial Lithium Corp. for approximately US$400 million. Each Millennial shareholder will receive C$4.70 per share, translating to a 22.1% premium over a previous agreement with CATL. The acquisition promises to enhance Lithium Americas' growth strategy near its Caucharí-Olaroz project in Argentina. The Millennial Board considers this offer a 'Superior Proposal' and has initiated a 10-day Matching Period for CATL to respond. The transaction entails payment of a US$20 million termination fee under certain conditions.
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.