Lithium Americas Stock Price, News & Analysis

Lithium Americas Corp. (LAC) received a positive ruling from the US District Court on February 6, 2023, regarding its Thacker Pass project in Nevada. The Court upheld the Bureau of Land Management's (BLM) issuance of the Record of Decision (ROD) for a mining plan, allowing construction to move forward without significant delays. The ruling dismissed concerns regarding environmental degradation and affirmed the thoroughness of the permitting process. However, the Court has ordered the BLM to reassess the mining-claim rights related to waste storage. The Company remains committed to advancing the Thacker Pass project towards construction.

Lithium Americas Corp. (NYSE: LAC) announced a significant $650 million equity investment from General Motors Co. (NYSE: GM), marking the largest investment by an automaker in battery raw materials. The funds will support the Thacker Pass lithium project in Nevada, projected to supply lithium for up to one million electric vehicles annually. The investment includes a $320 million first tranche for a 9.999% stake and a $330 million second tranche post-separation of its U.S. and Argentine operations. The Thacker Pass project aims for 80,000 tonnes per annum lithium production, with Phase 1 expected to commence in 2026 and a life expectancy of 40 years.

General Motors (NYSE:GM) and Lithium Americas (NYSE:LAC) have announced a joint investment to develop the Thacker Pass lithium mine in Nevada, the largest lithium source in the U.S. GM will invest $650 million, marking the largest investment by an automaker in battery raw materials. This capital will help support the production of up to 1 million electric vehicles (EVs) annually and ensure GM's access to critical materials for its Ultium battery cells. The investment is contingent on specific conditions, including regulatory approvals, with production expected to start in late 2026, creating 1,500 jobs in total.

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.