Lithium Americas Announces Closing of Thacker Pass Joint Venture with General Motors
Lithium Americas Corp. Common Shares (LAC)
Last lithium americas corp. common shares earnings: 11/12 07:00 am
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Source: Business Wire
(All amounts in US$ unless otherwise indicated) VANCOUVER, British Columbia--(BUSINESS WIRE)--Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) today announced the closing of its previously announced joint venture (the “JV”) with General Motors Holdings LLC (“GM”) to fund, develop, construct and operate Thacker Pass in Humboldt County, Nevada to supply battery-quality lithium carbonate for the North American critical minerals supply chain (“Thacker Pass” or the “Project”).Lithium Americas now holds a 62% interest in Thacker Pass and will manage the Project. GM has acquired a 38% interest in Thacker Pass for $625 million in total cash and letters of credit (“GM’s JV Investment”), comprised of $430 million of direct cash funding to the JV to support the construction of Phase 11 and a $195 million letter of credit facility (“LC Facility”).As part of closing, GM has funded $330 million of cash into the JV alongside $138 million2 of funding from Lithium
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News
- Auto Roundup: HMC-NSANY Merger Plans, GM's Thacker Pass JV Deal & More [Yahoo! Finance]Yahoo! Finance
- LAC & GM Close Thacker Pass JV: Is Lithium Americas a Buy Now? [Yahoo! Finance]Yahoo! Finance
- Lithium Americas Corp. (NYSE: LAC) is now covered by analysts at Wedbush. They set a "neutral" rating and a $5.00 price target on the stock.MarketBeat
- Lithium Americas Corp.'s (TSE:LAC) market cap dropped CA$388m last week; individual investors who hold 56% were hit as were institutions [Yahoo! Finance]Yahoo! Finance
- Lithium Americas Shares Rise 44% in 3 Months: How to Play the Stock? [Yahoo! Finance]Yahoo! Finance
LAC
Earnings
- 5/13/24 - Beat
LAC
Sec Filings
- 12/23/24 - Form SCHEDULE
- 12/23/24 - Form 6-K
- 11/7/24 - Form 6-K
- LAC's page on the SEC website