Lithium Americas Corp. - LAC STOCK NEWS

Lithium Americas announces plans to separate its North American and Argentine business units into two independent public companies. The separation will be presented to shareholders for approval at the AGM in July 2023. Benefits of the separation include sharper focus, independent growth opportunities, enhanced market evaluation, and access to tailored capital. The management teams for both companies are also announced.

NACCO Industries reported a decline in consolidated operating profit, net income, and EBITDA for Q1 2023 compared to Q1 2022. The decrease was primarily due to lower earnings in the Coal Mining and Minerals Management segments. However, the company had a significant decrease in income tax expense and received other income from a post-closing purchase price adjustment. The outlook for the Coal Mining segment in 2023 is a moderate decrease in coal deliveries and a significant decrease in operating profit and EBITDA. The North American Mining segment expects a moderate decrease in operating profit but an improvement in Segment Adjusted EBITDA. The Minerals Management segment also experienced a significant decrease in revenue, operating profit, and Segment Adjusted EBITDA.

The lithium mining market is projected to grow as the demand for lithium-ion batteries increases. Companies are investing in expanding production capacity and pursuing vertical integration strategies. The efficiency of lithium mining is expected to improve, leading to lower costs and higher yields. Research is being done into new methods of lithium extraction and battery recycling. Some companies are adopting sustainable practices to minimize environmental impact. Active mining companies in the market include Indigo Exploration, Tesla, Lithium Americas, E3 LITHIUM, and Patriot Battery Metals.

Lithium Americas Corp. (LAC) announced the retirement of Eduard Epshtein as Chief Financial Officer, effective immediately, with Pablo Mercado appointed as his successor. This leadership change comes as the Company prepares for the separation of its Argentine and North American operations into independent entities. Eduard will remain with the Company as an advisor during this transition. Pablo Mercado brings over 23 years of experience in finance, including previous roles as CFO at EnLink Midstream and Forum Energy Technologies. Lithium Americas is advancing lithium projects in both Argentina and the U.S., aiming for production in the near future, particularly at its Thacker Pass project.

Lithium Americas Corp. (TSX: LAC, NYSE: LAC) has successfully completed its acquisition of Arena Minerals Inc. (TSX-V: AN) as part of a strategic arrangement. This deal consolidates Lithium Americas' position in the Pastos Grandes basin in Salta, Argentina, where Arena holds a 65% interest in a significant lithium project covering 13,200 hectares. The acquisition involved Arena shareholders receiving 0.0226 common shares of Lithium Americas and $0.0001 in cash for each Arena share. Approximately 8.4 million shares were issued to Arena's former shareholders. The acquisition is expected to enhance Lithium Americas' growth plans while focusing on the startup of production at the Caucharí-Olaroz site. Trading of Arena's shares will remain halted until delisting.

Lithium Americas Corp. (LAC) has filed its 2022 Annual Report on Form 40-F with the SEC, which includes annual audited financial statements and management discussion. The report is accessible on the SEC's EDGAR system and Canadian regulatory authorities via SEDAR. The filings showcase the company's ongoing projects in Argentina and the U.S., noting that Caucharí-Olaroz is near first production and Thacker Pass construction has begun following its Record of Decision. Stakeholders can request free printed copies of the annual audited financial statements.

Lithium Americas Corp. (LAC) has announced its financial and operational results for Q4 and full year 2022. The Caucharí-Olaroz project in Argentina is nearing first production by mid-2023 with expectations of ramping up to 40,000 tpa by Q1 2024. Total capital costs have been revised to $979 million due to inflation, while the company anticipates under $50 million in additional funding requirements. In the U.S., construction at Thacker Pass is underway, targeting production by H2 2026. As of March 2023, cash reserves stand at $600 million, bolstered by a $320 million investment from General Motors, leading to GM becoming the largest shareholder.

The lithium market is expected to grow significantly, with a projected CAGR of 13.5% from 2023 to 2028, reaching a valuation of USD 10.6 billion by 2028. This growth is driven by the increasing demand for electric vehicles (EVs) and government subsidies, leading to a rise in lithium mining activities. Active stocks in the sector include Lithium South Development (LISMF), Lithium Americas (LAC), Standard Lithium (SLI), and Piedmont Lithium (PLL). The completion of resource expansion programs and projects like the Thacker Pass by Lithium Americas indicates promising developments in lithium supply, essential for the booming EV market.