Vancouver, British Columbia, February 28, 2022 (GLOBE NEWSWIRE) — Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or “Company”) We are pleased to inform you that we have submitted a draft application to the US Department of Energy (“DOE”) Funds used in the 100% owned Thacker Pass lithium project in Humboldt County, Nevada (“Soccer pass”) Advanced Technologies Vehicle Manufacturing Loan Program (“”Loan program“). The loan program aims to fund US companies engaged in the manufacture of high-tech vehicles and the components used in those vehicles.
“Thacker Pass is a unique, large-scale, advanced-stage lithium project that represents one of the most important opportunities to build a true domestic lithium supply chain to support the production of electric vehicles in the United States,” said President. And CEO Jonathan Evans said. .. “We are pleased to be able to submit a draft application. We would like to work with DOE to accelerate the growth of the domestic lithium industry in response to growing demand and interest from US-based consumers. looking forward to it.”
Seeking to create a separate US lithium business
Lithium Americas continues to make significant progress in projects in both the United States and Argentina.
- America: In addition to the draft application by DOE, we received all final major state permits for the Thacker Pass on February 25, 2022. Financing discussions with various strategic partners are underway and a feasibility study incorporating scaling has been completed. Infrastructure changes associated with additional processing, and engineering and testing results. Cost of capital and operating cost estimates have been updated to reflect these changes and take into account external factors such as inflationary pressures and supply chain considerations.
- Argentina: Our Caucharí-Olaroz Lithium Brine Project (“Caucharí-Olaroz”) Is scheduled to complete construction this year as the largest new battery quality lithium carbonate brine business that will be online in over 20 years. Caucharí-Olaroz expansion and recently acquired Pastos Grandes lithium brine project (“Pastos Grandes”) Provides further growth potential to support the regional lithium business in northern Argentina.
As Lithium Americas continues to move projects in both regions towards production, we are in the process of exploring the separation of US and Argentine businesses through the establishment of an independent public company focused on the development of the Thacker Pass. It was started. We are evaluating the alternatives and structures available to achieve such separation.
“We have world-class assets with great potential in both regions,” Evans said. “We haven’t made a final decision, but we are confident that the separation will allow each business to focus and maximize and accelerate its strategic goals while increasing financial flexibility.”
“Soccer Pass is one of the largest and most advanced development-stage lithium projects in the United States and has received a decision record,” Evans said.rod”) January 2021. This project is in line with the national agenda for strengthening the domestic supply of important minerals and has the potential to become a major short-term lithium source in the US battery supply chain. “
No final decision has been made regarding the potential separation transaction. We cannot guarantee whether a separate transaction will take place, the type of such transaction, or the timing of the transaction.
About Lithium America
Lithium Americas is focused on pushing lithium projects into production in Argentina and the United States. In Argentina, Caucharí-Olaroz is moving towards its first production and Pastos Grandes represents the growth of the region. In the United States, the Thacker Pass has received the ROD and is moving towards construction. We trade on both the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol “LAC”.
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Precautions regarding information regarding future prospects
Specific statements in this release are “forward-looking statements” in the sense of applicable US securities law and “forward-looking information” under applicable Canadian securities law (collectively, “forward-looking statements”. ”). Such forward-looking statements include known and unknown risks, uncertainties, and actual results, performance, or outcomes of our company, its projects, or industry results, as expressed future results, performance. , Or other factors that may differ materially from outcomes. It is implied by a statement about such a future outlook. Such statements are “may”, “do”, “can”, “do”, “intention”, “expect”, “believe”, “plan”, “expect”, “estimate”. It can be identified by using words such as “to do”. , “Appointment,” “Forecast,” “Forecast,” and other similar terms, or a particular action, event, or result is “potential,” “potential,” or “potential.” , “Possible”, or “Possible” stated or achieved. These statements reflect our current expectations of future events, financial or operating results and results and are stated only as of the date of this release. Such statements include expectations regarding the development status of our project, expected production and product quality, and the expected potential of the Soccer Pass project to create a battery supply chain as a result of our loan application filed with DOE. Includes, but is not limited to, profits. In the United States, in the short term, the completion of the soccer pass project feasibility study, the expected capacity and parameters of the study, the planning of regional projects in Argentina, and the timing of the completion of the construction of the Kauchario Laros project. There are also plans for strategic alternatives to fund the Thacker Pass project. This includes potential separation or other forms of restructuring transactions, including any of our projects, and the expected benefits of such transactions.
Forward-looking statements carry significant risks and uncertainties and should not be read as a guarantee of future performance or results, but are not necessarily an accurate indicator of whether such results will be achieved. not. A number of factors, such as the development of mining projects, the achievement of planned milestones and budgets, and the risks associated with achieving expected timelines, result in actual results being described or informed by forward-looking statements or information. Can be very different from. The results of the company’s engineering, design, and licensing programs on the Thacker Pass project. This includes the company meeting deadlines and receiving and maintaining permits as expected. Make decisions on the construction of the ThackerPass project, including timing, results, completion, and capital and operating cost estimates for feasibility studies. The successful development of our project and the ability to produce battery grade lithium. Changes in loan funding availability, valuation criteria, or government policies for DOE loan applications. Risks associated with the novel nature of ThackerPass deposits. Ability to integrate Millennial Lithium’s business into our business and advance the Pastos Grandes project in the development stage to production. Availability on satisfactory terms, including the availability of our strategic alternatives and market conditions favorable to the potential separation of our projects. The ability to meet the stock exchange listing requirements of a post-separation company and obtain a new listing of the entity that results from the separation. Risks inherent in proceedings that may result in additional unexpected delays or judgments that are unfavorable to us or its projects. Maintain community support in the area where the company’s projects are located. Changes in social cognition and their impact on project development and litigation. The ongoing global supply chain disruption and their impact on the development of the company’s projects. Availability of personnel, equipment and facilities. The impact of inflation on companies, their projects and their economic realizability. Expected and expected impact of COVID-19 on the company and its mineral properties. Unexpected fluctuations in the market price of our stock. Changes to Lithium Americas’ current and future business plans and strategic alternatives available to Lithium Americas. Changes in government policies and priorities. General stock market conditions. Lithium demand, supply and pricing. General economic and political conditions in Canada, the United States, Argentina, and other jurisdictions in which Lithium Americas operates. Additional information on these assumptions and risks and uncertainties includes our latest annual information form and the latest management discussions and analysis of our most recently completed fiscal year and interim period. It is included in our filings with the authorities. At SEDAR (www.sedar.com) and EDGAR (www.sec.gov).
The forward-looking statements contained in this release are based on our management’s belief that they are reasonable assumptions, but guarantee that actual results are consistent with these forward-looking statements. there is no. These forward-looking statements were made as of the date of this release and are fully explicitly qualified by this notice. In accordance with applicable securities law, we undertake no obligation to update or revise any forward-looking statement contained in this document to reflect any events or circumstances that occur after the date of this release.
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Lithium Americas submits a draft loan application to the US Department of Energy. Canadian Business Journal Exploring Possibility of Separation of US Lithium Business
Source link Lithium Americas submits a draft loan application to the US Department of Energy. Canadian Business Journal Exploring Possibility of Separation of US Lithium Business