Lithium Americas Stock Price, News & Analysis

Lithium Americas Corp. (LAC) provided an update regarding the Thacker Pass lithium project after a court hearing on January 5, 2023. The U.S. Federal Court confirmed that no further hearings are necessary and plans to issue a decision in the coming months. CEO Jonathan Evans expressed confidence in the thoroughness of the permitting process as the company prepares for construction and looks to finalize supply agreements. The Thacker Pass project is advancing, and the company also focuses on its Caucharí-Olaroz project in Argentina.

Lithium Americas Corp. has announced its acquisition of Arena Minerals Inc. through a definitive arrangement agreement. The acquisition, valued at US$227 million (C$311 million), will provide Arena shareholders with 0.0226 shares of Lithium Americas for each Arena share. This transaction aims to consolidate the Pastos Grandes basin, enhancing growth opportunities and synergies for both companies. Arena shareholders stand to gain a premium of approximately 28% based on Arena's closing price prior to the announcement, while Lithium Americas is set to bolster its project pipeline and development capabilities.

Lithium Americas Corp. (LAC) announced the exercise of common share purchase warrants of Arena Minerals Inc. for 14,590,000 shares at C$0.25 each for US$2.7 million. This increases Lithium Americas' ownership in Arena Minerals from approximately 17% to 19.9%. The acquisition is for investment purposes, with potential future purchases dependent on market conditions. Notably, they are required to obtain shareholder approval before exceeding the 20% ownership threshold. An early warning report will be filed as per securities laws.

Lithium Americas Corp. (LAC) plans to separate its North American and Argentine business units into two independent public companies. This move aims to unlock the full potential of its assets and enhance shareholder value. Post-separation, Lithium International will focus on Argentine projects, including the Caucharí-Olaroz lithium brine project, while Lithium Americas (NewCo) will concentrate on the Thacker Pass lithium project in Nevada. The separation is expected to complete by the end of 2023, pending necessary approvals and tax confirmations.

Lithium Americas Corp. (LAC) reported its Q3 2022 results on October 27, 2022. Key highlights include progress at the Caucharí-Olaroz project with commissioning of processing plant areas starting. Although capital costs increased by 15% to $852 million due to inflation and currency impacts, funding requirements remain stable. The company has $392 million in cash and $75 million in available credit. A net loss of $40.9 million was reported for Q3 2022, primarily due to losses on convertible notes and share of losses from Cauchari-Olaroz.

Lithium Americas Corp. (LAC) reported two tragic fatalities at its Caucharí-Olaroz lithium project in Jujuy, Argentina, on October 23, 2022. The incidents, which occurred at the camp, are not thought to be workplace accidents, and investigations are underway. CEO Jonathan Evans expressed deep condolences for the loss of the contractors and emphasized the company's commitment to health and safety. Lithium Americas is providing support services, including grief counseling, for its team in Argentina.

Lithium Americas Corp. (LAC) announced a Community Benefits Agreement (CBA) with the Fort McDermitt Paiute and Shoshone Tribe, aimed at fostering collaboration and providing long-term benefits. The CBA includes job training, employment opportunities, and funding for cultural education. Additionally, an 8,000 square foot community center is planned for the Tribe. The Company has received necessary environmental permits for the Thacker Pass project and is preparing for construction, with key contractor selections underway. A court hearing on a pending appeal is scheduled for January 5, 2023.

Lithium Americas Corp. (NYSE: LAC) is progressing towards the construction of its Thacker Pass lithium project in Nevada, having received all required state and federal permits. The federal court will hold an oral hearing regarding the project's Record of Decision on January 5, 2023. Previously, all injunction requests related to Thacker Pass were denied. The company is also finalizing partnerships and supply agreements, and is applying for U.S. Department of Energy funding. The Thacker Pass project is positioned as a critical lithium supply source for North America's growing battery ecosystem.

Lithium Americas Corp. (LAC) has announced a Strategic Collaboration Agreement with Green Technology Metals Ltd. (GT1) aimed at developing an integrated lithium chemical supply chain in North America. This collaboration builds on a previous $10 million investment by Lithium Americas in GT1. The agreement includes the establishment of a Strategic Management Committee to oversee joint exploration and development efforts, particularly focused on North American lithium resources. The partnership follows the passing of the Inflation Reduction Act, highlighting the growing demand for domestic lithium supply.