Lithium Americas Releases Q3 Results

Lithium Americas (TSX,NYSE:LAC) has released its financial and operating results for Q3 2018.

Highlights are as follows:

• On October 31, 2018, Lithium Americas completed a series of transactions with subsidiaries of Jiangxi Ganfeng Lithium Co., Ltd. and Sociedad Química y Minera de Chile S.A. with respect to the Cauchari-Olaroz lithium project in Jujuy, Argentina.

• As a result of the Transaction, Lithium Americas increased its interest in Minera Exar S.A., the holding company for Cauchari-Olaroz, to 62.5 percent from 50 percent with Ganfeng holding the remaining 37.5 percent.

• Development activities are on schedule with the advancement of detailed engineering, ponds construction, production wells drilling, camp construction, plant design and supply purchases to support the start of Stage 1 production in 2020. No delay is anticipated to the production schedule as a result of the transaction.

• The first evaporation pond was completed and commenced filling with brine in October 2018.

• Engineering is continuing and is on track to support the first bid packages for plant construction during the fourth quarter of 2018.

Click here to read the full announcement.