Group 1: Surge Battery Metals - Surge Battery Metals recognized as one of the 2024 Top 50 mining companies on the TSX Venture Exchange, attributed to share price appreciation, trading volume, and market capitalization growth [2] - Completion of four drill holes for the 2024 Nevada North Lithium Project confirmed mineralized clay horizons, with four additional holes underway to expand the mineralized clay footprint [3] - The existing inferred resource of lithium carbonate equivalent is 4.67 million tonnes, indicating potential for future mining activity [13] Group 2: Nikola - Nikola continues to grow its hydrogen fuel cell truck business, securing orders for 140 trucks from 12 customers in Q1 2023 and delivering 40 fuel cell electric vehicles [6] - Plans to expand hydrogen and battery-electric offerings in 2024, aiming for 14 hydrogen fueling solutions to position hydrogen vehicles as a viable alternative to electric vehicles [7] - A 1-for-30 reverse stock split announced, reducing authorized share count to 1 billion, leading to a significant stock decline [14] Group 3: Lithium Americas - Lithium Americas has a market capitalization of $610 million, contrasting with the Thacker Pass asset's estimated $5.7 billion after-tax net present worth, expected to generate strong EBITDA and cash flows upon production starting in 2027 [8] - The U.S. Department of Energy provisionally agreed to a $2.26 billion loan for the company, indicating confidence in the asset's ability to cover the loan [8] - Recent partnerships and funding include a $650 million investment from General Motors for its Nevada project and $275 million raised through equity dilution to complete the project on schedule [17]

To follow LAC in the coming trading sessions, be sure to utilize Zacks.com. Analysts and investors alike will be keeping a close eye on the performance of Lithium Americas Corp. in its upcoming earnings disclosure. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outsideaudited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 14.37% lower within the past month. Righ ...

Financial Data and Key Metrics Changes - In Q1 2024, the Caucharà project achieved a production milestone of 4,500 tons of lithium carbonate, representing a 20% increase compared to Q4 2023 [19] - The company noted a meaningful inventory build at the end of Q1, which is substantial and linked to improved shipment plans as part of the ramp-up [30] Business Line Data and Key Metrics Changes - The ramp-up of production at the Caucharà project is ongoing, with the team addressing challenges as they arise to limit downtime and improve operational efficiency [9][19] - Improvements in product quality were noted between Q4 2023 and Q1 2024, with the company meeting most technical and battery specifications [50] Market Data and Key Metrics Changes - The company expects improved pricing to be reflected in Q2 due to enhanced product quality and regular shipment plans [31] - The Pastos Grandes transaction is on track to be finalized around the end of Q2, providing an additional $70 million to support operations in Argentina [37] Company Strategy and Development Direction - The company is focused on ramping up production, maintaining a strong balance sheet, and advancing the regional development plan for the Pastos Grandes Basin [22][35] - The company is exploring additional long-term debt options to leverage improved lending conditions in Argentina to support future growth plans [37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the team's ability to address challenges during the ramp-up and highlighted the importance of operational efficiency [19][20] - The primary objective for the remainder of the year is to continue ramping up production consistently towards the 2024 target of 20,000 to 25,000 tons of lithium carbonate [36] Other Important Information - The company has initiated a corporate cost reduction program while remaining committed to the communities where it operates [20] - The KCL plant's improvements are expected to significantly impact production volumes and quality [54] Q&A Session Summary Question: Can you clarify what the ramp-up testing means? - Management indicated that they are testing higher production levels and addressing issues as they arise, which is typical during ramp-ups [24] Question: What does planned maintenance look like at Caucharà? - Management elaborated on the planned downtime in April to replace piping and seals, which is common during ramp-ups [28] Question: How is the inventory situation at the end of the quarter? - The company confirmed a healthy pond inventory, which is not a bottleneck for achieving nameplate capacity [83] Question: What are the motivations for using DLE at Pastos Grandes? - Management noted that advancements in DLE technology are being considered due to the lower lithium concentration at Pastos Grandes [67] Question: How is the power situation now? - Management stated that power disruptions experienced earlier were seasonal and that mitigation plans are being implemented to address these issues [91]

InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com. Lithium Americas (N ...

[Financial Statements](index=2&type=section&id=Financial%20Statements) [Condensed Consolidated Interim Statements of Financial Position](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Financial%20Position) As of March 31, 2024, Lithium Americas Corp. reported total assets of $436.5 million, a slight decrease from $439.5 million at year-end 2023. The decrease was primarily driven by a reduction in cash and cash equivalents from $195.5 million to $147.2 million, offset by an increase in property, plant, and equipment from $206.1 million to $268.3 million due to continued investment in the Thacker Pass project. Total liabilities decreased to $30.0 million from $32.0 million Condensed Consolidated Interim Statements of Financial Position (Unaudited) | | March 31, 2024 ($ thousands) | December 31, 2023 ($ thousands) | | :--- | :--- | :--- | | **CURRENT ASSETS** | | | | Cash and cash equivalents | 147,242 | 195,516 | | Receivables, prepaids and deposits | 6,088 | 10,367 | | **Total Current Assets** | **153,330** | **205,883** | | **NON-CURRENT ASSETS** | | | | Investment in Green Technology Metals | 1,256 | 2,580 | | Investment in Ascend Elements | 8,582 | 8,582 | | Property, plant and equipment | 268,265 | 206,082 | | Other assets | 4,033 | 15,315 | | **Total Non-Current Assets** | **283,194** | **233,617** | | **TOTAL ASSETS** | **436,524** | **439,500** | | **CURRENT LIABILITIES** | | | | Accounts payable and accrued liabilities | 20,793 | 23,361 | | GM transaction derivative liability | 528 | 348 | | **Total Current Liabilities** | **22,087** | **24,563** | | **LONG-TERM LIABILITIES** | | | | Leases and other liabilities | 6,476 | 6,613 | | Decommissioning provision | 1,469 | 862 | | **Total Long-Term Liabilities** | **7,945** | **7,475** | | **TOTAL LIABILITIES** | **30,032** | **32,038** | | **TOTAL SHAREHOLDERS' EQUITY** | **406,492** | **407,462** | | **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | **436,524** | **439,500** | [Condensed Consolidated Interim Statements of Comprehensive Loss](index=3&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Comprehensive%20Loss) For the three months ended March 31, 2024, the company reported a net loss of $6.0 million, or ($0.04) per share, compared to a net loss of $1.7 million, or ($0.01) per share, for the same period in 2023. The increased loss was primarily due to higher general and administrative expenses and a loss on financial instruments, compared to a significant gain in the prior year period Condensed Consolidated Interim Statements of Comprehensive Loss (Unaudited) | | Three Months Ended March 31, 2024 ($ thousands) | Three Months Ended March 31, 2023 ($ thousands) | | :--- | :--- | :--- | | General and administrative expenses | (4,314) | (1,615) | | Equity compensation | (1,234) | (195) | | Transaction costs | (865) | (4,028) | | Gain (loss) on financial instruments | (1,504) | 8,246 | | Finance and other income | 1,909 | 9 | | **NET LOSS** | **(6,008)** | **(1,717)** | | **TOTAL COMPREHENSIVE LOSS** | **(6,008)** | **(1,717)** | | **BASIC AND DILUTED LOSS PER SHARE** | **(0.04)** | **(0.01)** | [Condensed Consolidated Interim Statements of Equity](index=4&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Equity) Total shareholders' equity slightly decreased from $407.5 million at December 31, 2023, to $406.5 million at March 31, 2024. The decrease was primarily due to the net loss of $6.0 million for the period, partially offset by increases in share capital and contributed surplus related to equity compensation Changes in Shareholders' Equity for Q1 2024 | | Amount ($ thousands) | | :--- | :--- | | **Balance, December 31, 2023** | **407,462** | | Shares issued on conversion of share-based awards | - | | Equity compensation amortization | 5,038 | | Net loss | (6,008) | | **Balance, March 31, 2024** | **406,492** | [Condensed Consolidated Interim Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Cash%20Flows) Cash and cash equivalents decreased by $48.3 million during the first quarter of 2024, ending at $147.2 million. The decrease was driven by $46.5 million used in investing activities, primarily for additions to property, plant, and equipment for the Thacker Pass project, and $1.5 million used in operating activities Condensed Consolidated Interim Statements of Cash Flows (Unaudited) | | Three Months Ended March 31, 2024 ($ thousands) | Three Months Ended March 31, 2023 ($ thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | (1,536) | (18,413) | | Net cash used in investing activities | (46,513) | (9,870) | | Net cash (used in)/provided by financing activities | (225) | 336,184 | | **CHANGE IN CASH AND CASH EQUIVALENTS** | **(48,274)** | **307,901** | | **CASH AND CASH EQUIVALENTS - BEGINNING** | **195,516** | **636** | | **CASH AND CASH EQUIVALENTS - END** | **147,242** | **308,537** | [Notes to the Condensed Consolidated Interim Financial Statements](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) [Note 1: Background and Nature of Operations](index=6&type=section&id=1.%20Background%20and%20Nature%20of%20Operations) Lithium Americas Corp. (New LAC) was formed through a separation from Lithium Americas (Argentina) Corp. (Old LAC) on October 3, 2023, to own and advance the North American assets, primarily the Thacker Pass lithium project in Nevada. The company is in the development stage and has not generated significant revenue. Key financing includes a $650 million investment from General Motors and a conditional commitment for a $2.26 billion loan from the U.S. Department of Energy (DOE) - The company was created via a separation transaction on **October 3, 2023**, to hold the North American assets of the former Lithium Americas Corp., with its primary focus on the Thacker Pass project[8](index=8&type=chunk)[12](index=12&type=chunk) - General Motors (GM) agreed to a **$650 million** investment, with the first tranche of **$320.1 million** completed in **February 2023**[14](index=14&type=chunk) - On **March 12, 2024**, the company received a conditional commitment from the U.S. Department of Energy (DOE) for a **$2.26 billion** loan to finance the construction of processing facilities at Thacker Pass[15](index=15&type=chunk) [Note 2: Basis of Preparation and Presentation](index=7&type=section&id=2.%20Basis%20of%20Preparation%20and%20Presentation) The unaudited condensed consolidated interim financial statements were prepared in accordance with IFRS, specifically IAS 34, Interim Financial Reporting. The comparative financial data for the period ended March 31, 2023, was prepared on a "carve-out" basis from the former parent company (Old LAC), as the company did not operate as a separate legal entity before October 3, 2023 - Financial statements are prepared in accordance with **IFRS** and **IAS 34**[17](index=17&type=chunk) - Financial results for the comparative period (**Q1 2023**) are presented on a **"carve-out" basis**, including allocations of shared corporate expenses from the former parent company[18](index=18&type=chunk)[19](index=19&type=chunk) [Note 8: Property, Plant and Equipment](index=10&type=section&id=8.%20Property,%20Plant%20and%20Equipment) The net book value of property, plant, and equipment (PP&E) increased significantly to $268.3 million as of March 31, 2024, from $206.1 million at the end of 2023. This increase is primarily due to $62.5 million in additions to the Thacker Pass project during the quarter, reflecting ongoing development and construction activities Property, Plant and Equipment Movement (Net Book Value) | | Thacker Pass ($ thousands) | Other ($ thousands) | Total ($ thousands) | | :--- | :--- | :--- | :--- | | **As at Dec 31, 2023** | **202,819** | **3,263** | **206,082** | | Additions (Q1 2024) | 62,546 | 22 | 62,568 | | Depreciation (Q1 2024) | - | (385) | (385) | | **As at Mar 31, 2024** | **265,365** | **2,900** | **268,265** | - Prepayments of **$4.0 million** related to housing for construction employees and project insurance for Thacker Pass are included in Other assets[39](index=39&type=chunk) [Note 10: Agreements with General Motors](index=11&type=section&id=10.%20Agreements%20with%20General%20Motors) The company has a comprehensive agreement with General Motors (GM) involving a two-tranche equity investment totaling $650 million and an offtake agreement for Thacker Pass production. The first tranche of $320.1 million is complete. The second tranche of up to $329.9 million is pending satisfaction of certain conditions and is treated as a derivative liability, with its fair value fluctuating based on the company's share price and volatility [GM Tranche 2 Agreements](index=12&type=section&id=10.1%20GM%20Tranche%202%20Agreements) The second tranche investment from GM of up to $329.9 million is contingent on securing sufficient funding for Phase 1 of Thacker Pass. This agreement is accounted for as a derivative liability, which had a fair value of $528 thousand as of March 31, 2024, an increase from $348 thousand at year-end 2023, resulting in a $180 thousand loss recognized in the period - GM's second tranche investment of up to **$329.9 million** is contingent on the Company securing sufficient funding to complete **Phase 1** development of Thacker Pass[45](index=45&type=chunk) GM Tranche 2 Derivative Liability Movement | | Amount ($ thousands) | | :--- | :--- | | **As at December 31, 2023** | **(348)** | | Loss on change in fair value (Q1 2024) | (180) | | **As at March 31, 2024** | **(528)** | [Offtake Agreement](index=13&type=section&id=10.2%20Offtake%20Agreement) Under the offtake agreement, GM has the right to purchase up to 100% of the lithium carbonate produced during Phase 1 of the Thacker Pass project. The pricing will be based on prevailing market rates, and the initial term is for ten years, with an option for GM to extend for another five years - GM may purchase up to **100%** of Thacker Pass **Phase 1** production at market-based prices[52](index=52&type=chunk) - The agreement term is **ten years** for **Phase 1**, with a **five-year** extension option for GM. GM also has a right of first offer on **Phase 2** production[52](index=52&type=chunk) [Note 12: Share Capital and Equity Compensation](index=14&type=section&id=12.%20Share%20Capital%20and%20Equity%20Compensation) As of March 31, 2024, the company had 162.2 million common shares outstanding. During the first quarter, the company granted 1,936 Restricted Share Units (RSUs) and 442 Performance Share Units (PSUs) to employees and consultants, and 19 Deferred Share Units (DSUs) to directors under its Equity Incentive Plan. Total equity compensation expense recognized in the income statement was $1.2 million - As of **March 31, 2024**, there were **162,151 thousand** common shares issued and outstanding[58](index=58&type=chunk) Equity Awards Granted in Q1 2024 | Award Type | Units Granted (thousands) | Estimated Fair Value ($ thousands) | | :--- | :--- | :--- | | Restricted Share Units (RSUs) | 1,936 | 9,337 | | Performance Share Units (PSUs) | 442 | 2,793 | | Deferred Share Units (DSUs) | 19 | 128 | Outstanding Equity Awards as of March 31, 2024 | Award Type | Units Outstanding (thousands) | | :--- | :--- | | Restricted Share Units (RSUs) | 3,278 | | Performance Share Units (PSUs) | 981 | | Deferred Share Units (DSUs) | 114 | [Note 15: General and Administrative Expenses](index=17&type=section&id=15.%20General%20and%20Administrative%20Expenses) General and administrative (G&A) expenses for the first quarter of 2024 were $4.3 million, a significant increase from $1.6 million in the same period of 2023. The rise was primarily driven by higher salaries, benefits, and directors' fees, which grew to $2.5 million from $0.9 million, reflecting the company's expansion as a standalone public entity General and Administrative Expenses Breakdown | | Three months ended March 31, 2024 ($ thousands) | Three months ended March 31, 2023 ($ thousands) | | :--- | :--- | :--- | | Salaries, benefits and directors' fees | 2,540 | 912 | | Office and administration | 488 | 328 | | Professional fees | 690 | 57 | | Investor and government relations | 358 | 119 | | **Total** | **4,314** | **1,615** | [Note 17: Transactions Costs](index=17&type=section&id=17.%20Transactions%20Costs) Transaction costs for Q1 2024 amounted to $865 thousand, compared to $4.0 million in Q1 2023. The current period costs were primarily related to due diligence for the DOE Loan ($604 thousand) and other financing activities ($261 thousand). The prior year's costs were dominated by allocations for the company's separation and the GM investment Transactions Costs Breakdown | | Three months ended March 31, 2024 ($ thousands) | Three months ended March 31, 2023 ($ thousands) | | :--- | :--- | :--- | | DOE Loan due diligence costs | 604 | - | | Other financing costs | 261 | - | | Separation cost allocation | - | 2,474 | | General Motors investment | - | 1,554 | | **Total** | **865** | **4,028** | [Note 21: Financial Instruments](index=18&type=section&id=21.%20Financial%20Instruments) The company manages financial risks including credit, liquidity, and foreign currency risk. Credit risk is managed by holding cash with a major Canadian bank. Liquidity risk is addressed by maintaining sufficient cash reserves ($147.2 million) to cover current liabilities ($22.1 million). Foreign currency risk is minimal, with only $1.4 million held in Canadian dollars - The company classifies its financial instruments into a **three-level** fair value hierarchy. The investment in GT1 is **Level 1**, the GM Tranche 2 derivative is **Level 2**, and the investment in Ascend Elements is **Level 3**[79](index=79&type=chunk)[82](index=82&type=chunk) - As of **March 31, 2024**, the company had cash and cash equivalents of **$147.2 million** to settle current liabilities of **$22.1 million**, indicating a **strong short-term liquidity position**[85](index=85&type=chunk) - Foreign currency risk is limited, as only **$1.4 million** in cash is held in Canadian dollars. A **10%** change in the USD/CAD exchange rate would result in an approximate gain/loss of only **$144 thousand**[88](index=88&type=chunk) [Note 22: Subsequent Event](index=20&type=section&id=22.%20Subsequent%20Event) Subsequent to the quarter-end, on April 22, 2024, the company completed a major financing transaction. It closed an underwritten public offering of 55 million common shares at $5.00 per share, raising gross proceeds of $275 million (approximately $263 million net). These funds are intended to advance the construction and development of the Thacker Pass project - On **April 22, 2024**, the company completed a public offering of **55 million** common shares at **$5.00** per share[89](index=89&type=chunk) - The offering generated gross proceeds of **$275 million**, with net proceeds of approximately **$263 million**, which will be used for the development of Thacker Pass[89](index=89&type=chunk) - Underwriters have an option to purchase up to an additional **8.25 million** shares for **30 days** after the closing[90](index=90&type=chunk)

Investors are always looking for stocks that are poised to beat at earnings season and Lithium Americas Corp. (LAC) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Lithium Americas is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pr ...

It’s tough to advocate for buying battery stocks at this point. With the slowdown in demand for EVs, we’ve seen battery stocks sell-off over the past year or so. Consequently, prices of critical components such as lithium have declined sharply from their peak in 2022.Nevertheless, with secular tailwinds powering at their back, the long-term bull case for battery stocks remains firmly in place. The EV sector is in recalibration mode, but the long-term electrification trend is unlikely to disappear anytime so ...

Lithium Americas Corp. (LAC) closed the most recent trading day at $4.57, moving -1.08% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.35%.Coming into today, shares of the lithium producer had lost 31.25% in the past month. In that same time, the Basic Materials sector lost 0.53%, while the S&P 500 lost 2%.The upcoming earnings release of Lithium A ...

The latest trading session saw Lithium Americas Corp. (LAC) ending at $4.68, denoting a -1.47% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.2%. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 1.59%.Coming into today, shares of the lithium producer had lost 30.76% in the past month. In that same time, the Basic Materials sector lost 1.66%, while the S&P 500 lost 4.16%.The investment community will b ...

(All amounts in US$ unless otherwise indicated) VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (TSX:LAC) (NYSE:LAC) ("Lithium Americas" or the "Company") announced the closing of its previously announced underwritten public offering (the "Offering") of its common shares (the "Common Shares"). The Company issued 55,000,000 Common Shares, issued at a price of $5.00 per Common Share (the "Issue Price"), for aggregate gross proceeds to the Company of $275,000,000. The net ...