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. (LAC) is a British Columbia–incorporated company listed on the New York Stock Exchange and Toronto Stock Exchange, focused on developing the Thacker Pass lithium project in Humboldt County in northern Nevada. The company’s news flow centers on construction progress, financing developments and regulatory milestones tied to this large-scale lithium project.
Company press releases highlight detailed project and construction updates, including engineering design completion levels, installation of steel and concrete at the processing plant, development of permanent roads and entrances, and ramp-up of the on-site workforce and the Workforce Hub housing facility in Winnemucca. These updates give investors insight into how Phase 1 of Thacker Pass is advancing toward its targeted nominal capacity of 40,000 tonnes per year of battery-quality lithium carbonate.
Another major category of LAC news involves financing and capital markets activity. Disclosures cover the structure and drawdowns of the long-term loan from the U.S. Department of Energy’s Loan Programs Office under the ATVM Loan Program, including the first $435 million draw and subsequent amendments through an omnibus waiver, consent and amendment. News also addresses at-the-market equity programs, strategic investments from Orion Resource Partners LP, and equity-related arrangements with the DOE and GM tied to Thacker Pass.
Investors following LAC news will also see quarterly financial results via Form 10-Q announcements, updates on joint venture arrangements with General Motors Holdings LLC, and information on index inclusion such as the company’s addition to the S&P/TSX Composite Index. Together, these releases provide an ongoing view of how Lithium Americas is funding, building and governing the Thacker Pass project. For those tracking lithium development projects, LAC’s news page offers a concentrated source of operational, financial and strategic disclosures.
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.