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) announces the successful completion of its US$100 million at-the-market equity offering, which involved issuing 9,266,587 common shares. The net proceeds will support working capital and corporate purposes. The company now holds over US$145 million in cash, strengthening its position for ongoing construction at the Caucharí-Olaroz project and advancing financing discussions for the Thacker Pass project. The press release highlights the potential risks and uncertainties associated with forward-looking statements regarding project completions and market conditions.
Lithium Americas Corp. (TSX: LAC, NYSE: LAC) announces the immediate resignation of Michael Fischer from its board of directors, representing Bangchak Corporation Public Company Ltd. since May 2020. Chairman George Ireland thanked Dr. Fischer for his support and mentioned that the company will focus on sustainably developing the Thacker Pass lithium project. The board will engage a recruitment firm to identify new members with chemical industry and U.S. resource development experience.
Lithium Americas (NYSE: LAC) published its third-quarter financial results for 2020, reporting a net loss of $6.5 million, a significant decline from a net gain of $69 million in Q3 2019. The company made notable progress on its Caucharí-Olaroz Lithium Project, with $458 million (81%) of a $565 million budget committed as of September 30, 2020. Construction completion is projected for late 2021. The Thacker Pass Lithium Project is progressing with major permits expected by Q1 2021. The company had $72 million in cash and equivalents at quarter-end and raised approximately $48 million through its at-the-market equity program.
NACCO Industries reported third-quarter 2020 consolidated operating profit of $9.4 million, an 8.5% rise from Q3 2019, despite a decline in net income to $8.0 million ($1.14 per diluted share) from $10.3 million ($1.47 per diluted share) in the same period last year. The increase in profit was primarily due to reduced unallocated employee expenses and improved earnings in the Coal Mining and North American Mining segments. However, lower earnings in the Minerals Management segment and a higher effective income tax rate contributed to the decrease in net income. Overall, the company anticipates a significant decline in full-year 2020 earnings versus 2019.
Lithium Americas Corp. (NYSE: LAC) announced a corporate update, highlighting progress on projects amid COVID-19 precautions. The Caucharí-Olaroz lithium brine project in Argentina has over 60% of capital costs expended, with completion expected by end of 2021 and production in early 2022. The Thacker Pass project in Nevada is advancing permitting processes, aided by $9 million in tax abatements. The company has launched an at-the-market equity program to raise up to $100 million to support its projects.
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.