Welcome to our dedicated page for Lithium Americas (Argentina) news (Ticker: LAAC), a resource for investors and traders seeking the latest updates and insights on Lithium Americas (Argentina) stock.
Lithium Americas (Argentina) Corp. (NYSE:LAAC, TSX:LAAC) is a leading pure-play lithium producer, strategically positioned in the lithium-rich region of northwest Argentina. The company controls two neighboring lithium brine resources: Cauchari-Olaroz and Pastos Grandes. Cauchari-Olaroz commenced production in 2023, while Pastos Grandes remains in development.
The company aims to fully integrate both resources with on-site downstream processing capabilities, positioning itself to sell directly into the lithium chemical market. This strategic move enhances the company's value chain, ensuring a steady supply of battery-grade lithium carbonate.
Recent milestones include the successful start of production at the Cauchari-Olaroz project, which is anticipated to achieve its Stage 1 capacity of 40,000 tonnes per annum of battery-quality lithium carbonate by mid-2024. This marks a significant step towards securing a stable lithium supply chain in North America.
Lithium Americas (Argentina) Corp. is committed to innovation in lithium extraction methods, including Direct Lithium Extraction (DLE). This technology not only boosts efficiency but also minimizes environmental impact, aligning with global sustainability goals.
Financially, the company is in a robust position, bolstered by strategic partnerships and ongoing investments in its lithium projects. The firm is continuously exploring opportunities to expand its resource base and enhance production capabilities.
Key projects and partnerships include:
- Cauchari-Olaroz: Ongoing commissioning and ramp-up to full production capacity.
- Pastos Grandes: Development phase with plans for integration into the lithium chemical market.
- Strategic alliances: Collaborations with leading experts in DLE technology and other stakeholders in the lithium supply chain.
The rapidly growing demand for lithium, driven by the electric vehicle (EV) and renewable energy sectors, positions Lithium Americas (Argentina) Corp. as a pivotal player in the global lithium market. Investors and stakeholders can expect the company to continue its trajectory of growth and innovation, leveraging its prime assets and strategic initiatives.
Lithium Argentina (LAAC) has filed meeting materials for a special shareholders' meeting on January 17, 2025, to approve the company's redomiciling to Switzerland under the new name Lithium Argentina AG. The move requires shareholder, stock exchange, and court approval, expected in early 2025.
The virtual meeting will be held at 10:00 a.m. (Pacific Time), with shareholders as of December 3, 2024, eligible to vote. The proxy voting deadline is set for January 15, 2025. Meeting materials are available on the company's website, SEDAR+, and EDGAR. Due to ongoing postal strikes in Canada, alternative delivery methods have been arranged through Broadridge Financial Solutions and Computershare Investor Services.
Lithium Argentina (TSX/NYSE: LAAC) announced plans to establish corporate domicile in Switzerland, rebranding as Lithium Argentina AG in early 2025. The strategic move requires shareholder, stock exchange, and court approval. The company will maintain its TSX and NYSE listings under the new symbol 'LAR' and continue operating under North American securities laws. The operational headquarters will relocate to Buenos Aires, Argentina. The company's partner, Ganfeng, has agreed to a three-year standstill agreement preventing acquisition of controlling interest. A special shareholder meeting is scheduled for January 17, 2025, to approve the continuation.
Lithium Argentina (LAAC) reported Q3 2024 results, highlighting a 21% increase in production at Caucharí-Olaroz to 6,800 tonnes compared to Q2. The facility is operating at 75-80% of its 40,000 tonnes annual design capacity. The company maintains its 2024 production guidance of 20,000-25,000 tonnes. Realized prices were approximately $8,000 per tonne in Q3, with recent prices declining to $7,000 per tonne. The company reported a net loss of $2.4 million, compared to a $6.6 million gain in Q3 2023. Cash position stands at $92 million, with total assets of $1.12 billion and liabilities of $228.1 million.
Lithium Americas (Argentina) Corp. (TSX: LAAC) (NYSE: LAAC), also known as Lithium Argentina, has announced the release of its third quarter 2024 earnings results on November 5, 2024, after market close. The company will host a webcast and conference call to discuss these results on November 6, 2024, at 10:00 a.m. ET.
Investors and interested parties can access the webcast through the Investor Relations section of the company's website. The event, titled 'Lithium Argentina Third Quarter 2024 Earnings Call,' will be available via the provided attendee URL. Following the event, a webcast replay will be accessible through the News and Events page on the company's website.
Lithium Americas (Argentina) Corp. (TSX/NYSE: LAAC) has completed a transaction with Ganfeng Lithium, selling a 14.9% interest in its Pastos Grandes project for $70 million. The deal strengthens Lithium Argentina's balance sheet, reduces short-term debt at Caucharí-Olaroz, and supports future growth plans. Pastos Grandes, acquired in early 2022, is located in the same basin as Sal de la Puna and adjacent to Ganfeng's Pozuelos-Pastos Grandes project.
The companies are collaborating on a regional development plan for the Pastos Grandes Basin, with results expected by the end of 2024. Lithium Argentina anticipates that attractive fiscal incentives from Argentina's Large Investments' Incentive Regime (RIGI) would apply to its long-term development plans at Pastos Grandes and the Stage 2 expansion of Caucharí-Olaroz.
Lithium Argentina (LAAC) reported Q2 2024 results, highlighting significant progress in its Caucharí-Olaroz operation. The project is operating at 70% capacity, with production reaching 5,600 tonnes of lithium carbonate, a 24% increase from Q1. The company maintains its 2024 production guidance of 20,000-25,000 tonnes. Financial highlights include $96M in cash and an undrawn $75M credit facility. Net income for Q2 was primarily due to a $10.8M deferred tax recovery. The company expects to close the Pastos Grandes Transaction soon, providing additional liquidity to reduce leverage at Exar.
Lithium Americas (Argentina) Corp. (TSX: LAAC) (NYSE: LAAC), also known as Lithium Argentina, has announced the release of its second quarter 2024 earnings results on August 13, 2024, after market close. The company will host a webcast and conference call to discuss these results on August 14, 2024, at 10:00 a.m. ET.
Investors and interested parties can access the webcast through the Investor Relations section of the company's website. A replay of the webcast will be available following the event on the News and Events page of the Lithium Argentina website.
Lithium Americas (Argentina) Corp. (TSX: LAAC, NYSE: LAAC) announced the results of its annual general and special meeting held on June 20, 2024. Eight directors were re-elected, with votes overwhelmingly in favor: John Kanellitsas (95.19%), Sam Pigott (97.99%), George Ireland (88.99%), Diego Lopez Casanello (98.52%), Robert Doyle (98.48%), Franco Mignacco (98.09%), Monica Moretto (98.70%), and Calum Morrison (98.49%).
Shareholders set the Board size at eight members, re-appointed PricewaterhouseCoopers LLP as auditor, and approved amendments to the incentive plan and executive compensation approach. Detailed results and further information are available on SEDAR and the company’s website.
Lithium Argentina published its 2023 Sustainability Report, covering ESG progress from January 1 to December 31, 2023. The Company's report emphasizes its commitment to sustainable lithium production, highlighting the commencement of operations at the Caucharí-Olaroz project, which produced 6,000 tonnes of lithium carbonate in its first six months. The report also details achievements such as creating an inventory of Scope 1 and 2 emissions, identifying over 400 species, issuing Human Rights and Anti-Corruption policies, and showcasing board and workforce diversity. The full report is available on their website.
Lithium Argentina (LAAC) reported results for Q1 2024, highlighting operational and financial achievements. The Caucharí-Olaroz project produced 4,500 tonnes of lithium carbonate in Q1 and aims to produce 20,000-25,000 tonnes by year-end. The project will be cash flow positive in 2024, although working capital needs remain high.
Financially, Lithium Argentina holds $86M in cash and expects $20M in loan collateral release in Q2. The company carries $259M in convertible debt due in 2027. Minera Exar, the JV, has $241M in local debt, currently being refinanced. Ganfeng's $70M investment for a 15% stake in Pastos Grandes is expected to close mid-2024.
Corporate measures include a 25% reduction in discretionary spending. The company reported a net loss of $10.2M ($0.06/share) compared to $6.4M ($0.04/share) in Q1 2023. Total assets decreased to $1,046.1M, with $86.2M in cash. An investor webcast is scheduled for May 14, 2024.
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