Lithium Americas president and CEO Jonathan Evans discusses the increased investment in the company's Thacker Pass mine in Nevada on ‘The Bottom Line.'
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.