Lithium Americas Provides Thacker Pass Update With Q3 2023 Carve-Out Financials And MD&A; As At October 3, 2023, The Company Had Approximately $275.5M In Cash And Cash Equivalents
Portfolio Pulse from Benzinga Newsdesk
Lithium Americas Corp. (LAC) has provided an update on its Thacker Pass lithium project, including Q3 2023 financials. The company had approximately $275.5M in cash and cash equivalents as of October 3, 2023. Major earthworks and detailed engineering continue to advance in preparation for major construction to commence in 2024. The company is also in negotiations with the U.S. Department of Energy for the Advanced Technology Vehicles Manufacturing Loan Program, which could fund up to 75% of capital costs for construction of Phase 1. The construction budget for the second half of 2023 is $145 million, of which $51.1 million was spent in Q3 2023.
November 10, 2023 | 12:02 am
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Lithium Americas Corp. (LAC) is progressing with its Thacker Pass lithium project, with major construction set to commence in 2024. The company's cash and cash equivalents stood at approximately $275.5M as of October 3, 2023.
The news is directly related to Lithium Americas Corp. (LAC) and its Thacker Pass lithium project. The company's financial position and the progress of the project are likely to influence the stock price in the short term. The potential funding from the U.S. Department of Energy could significantly reduce the capital costs for the project, which is a positive signal for investors.
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