Shares of Lithium Americas (LAC) skyrocketed Wednesday after the mining company announced the creation of a joint venture with General Motors (GM) to extract lithium, the element used in electric vehicle (EV) batteries, from a key Nevada mine.
Canada's Lithium Americas said General Motors will boost investment in the miner's Thacker Pass project, which produces the critical ingredient for electric-vehicle batteries.
Lithium stocks are getting interest again, driven by acquisitions and the entry of a major miner into the industry. On October 9, 2024, the world's second-largest mining company in the basic materials sector, Rio Tinto Group NYSE: RIO, announced it would be acquiring Arcadium Lithium plc NYSE: ALTM for $5.85 per cash or $6.7 billion in an all-cash deal.
Bradda Head Announces Cancellation of Re-priced Options and TSXV Voluntary Delisting BRITISH VIRGIN ISLANDS / ACCESSWIRE / October 14, 2024 / Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI), the North America-focused lithium development group, announces that further to its press release dated 3 September 2024 pursuant to which it announced that it had, subject to receipt of necessary approvals from the TSX Venture Exchange ("TSX-V") and disinterested shareholder approval, reduced the exercise price of 9,000,000 outstanding share options (the "Existing Share Options"). The TSX-V declined to provide the necessary approvals to the reduced share price of C$0.03 as these were below the minimum permitted prices under TSX-V rules.
Lithium Americas is a high-risk, high-reward investment, akin to a call option on lithium demand, especially with EV market growth projections. The company aims to finance Thacker Pass mine construction through a $2.26 billion DOE loan and $330 million investment from GM. Despite current lithium price weakness, Thacker Pass's low production costs ensure profitability, with significant upside potential if lithium prices rebound.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) executive chairman Neil Herbert explained to Proactive the importance of a mine operating permit for its Ewoyaa Lithium Project in Ghana. Neil Herbert: This is part of our ongoing efforts to complete the permitting on the project.
Rumors of a sale to a strategic investor became reality rather quickly.
Not all lithium stocks are created equal.
Tantalex Lithium Resources (CSE:TTX, OTC:TTLXF) has announced the successful closing of the second tranche of its private placement, raising US$250,000 (C$341,425). It issued an aggregate of 13,086,088 shares at $0.035 per share.
VANCOUVER, BC / ACCESSWIRE / October 10, 2024 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide the following update on its royalty portfolio.
Companies enter into a Memorandum of Understanding (MOU) to develop a commercial partnership ReElement will utilize its proprietary technology for lithium conversion and production of battery-grade lithium carbonate from concentrated spodumene ore produced from IRIS Metals FISHERS, IN / ACCESSWIRE / October 10, 2024 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company") announced today that its wholly owned subsidiary, ReElement Technologies Corporation ("ReElement"), a leading provider of high-performance refining capacity for rare earth and critical battery elements, has signed a Memorandum of Understanding (MOU) with IRIS Metals Limited ("IRIS") for downstream lithium conversion and the production of battery grade lithium carbonate equivalent (LCE). The MOU follows the successful production of 6% spodumene concentrate (SC6) from IRIS Metals' flagship Beecher Lithium Project in the Black Hills of South Dakotaandrelates to potential future spodumene concentrate production.
Rio Tinto just sounded the all-clear for lithium investors. The price of lithium just hit bottom.