Lithium Americas (US:LAC)2022-10-27 17:19Project Highlights - Caucharí-Olaroz Stage 1 construction is nearing completion, targeting 40,000 tpa of battery-quality lithium carbonate production[13, 24] - Development planning for Caucharí-Olaroz Stage 2 expansion of at least 20,000 tpa is progressing[14, 25] - Thacker Pass is advancing towards construction start in 2023, targeting Phase 1 of 40,000 tpa and Phase 2 total capacity of 80,000 tpa lithium carbonate[14, 38] - A development plan for Pastos Grandes is advancing with a construction decision expected in H2 2023[14, 36] Financial Status - Lithium Americas had $392 million in cash, cash equivalents, and short-term bank deposits as of September 30, 2022[17] - Available capital from the credit facility was $75 million, with total debt of $235 million[17] - The total capital cost estimate for Caucharí-Olaroz Stage 1 is up 15% to $852 million (on a 100% basis)[31] Market Dynamics - Lithium carbonate prices have increased to over $70,000/tonne in China[20] - Demand for lithium batteries for electric vehicles is expected to increase by over 1,200% between 2021 and 2040[22] - Recycling is projected to account for approximately 26.4% of total lithium supply in 2050[22] - The lithium market is expected to grow to over 2 million tonnes of LCE in 2030[23] Strategic Investments - Lithium Americas completed the acquisition of Millennial Lithium and their Pastos Grandes project for approximately $400 million[35] - The company holds a 17.4% strategic investment in Arena Minerals[35] - Lithium Americas acquired approximately 5% of Green Technology Metals (GT1) for US$10 million[48]