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. (TSX: LAC, NYSE: LAC) announced the completion of its transaction with Ganfeng Lithium, allowing Ganfeng to increase its ownership in Minera Exar from 50% to 51% by investing US$16 million. Additionally, Lithium Americas received US$40 million from Ganfeng, enhancing its financial position as it develops the Caucharí-Olaroz lithium project in Argentina, which is currently 50% complete. The company emphasized its commitment to responsible operations and safety as construction activities gradually restart.
Lithium Americas Corp. (NYSE: LAC, TSX: LAC) reported its financial results for Q2 2020, showing a net loss of $6.0 million, improving from $6.7 million in Q2 2019. The Caucharí-Olaroz project is 47% complete, with $427 million committed out of planned expenses. Construction was temporarily suspended due to COVID-19 cases among workers. In Nevada, the Thacker Pass lithium project is progressing with environmental permitting and a feasibility study expected in Q4 2020. The company has $50 million in cash and undrawn credit of $187 million to support ongoing projects.
NACCO Industries reported a consolidated net income of $6.1 million, or $0.86 per diluted share, for Q2 2020, down from $8.0 million or $1.14 in Q2 2019. For the first half of 2020, net income was $12.2 million, down from $23.0 million in 2019. The decrease is attributed to lower earnings in the Minerals Management segment, despite improvements in Coal Mining. The Company ended Q2 2020 with cash of $95.5 million and debt of $28.4 million. Looking ahead, NACCO anticipates a decline in coal deliveries and earnings, especially due to the impact of low natural gas prices and changing energy trends.