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Lithium Americas | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Aug 15, 2024 05:25

Summary by Moomoo AI

Lithium Americas reported Q2 2024 financial results with a cash position of $375.8 million as of June 30, 2024. The company completed a $275 million public offering in April 2024 and received a conditional commitment from the U.S. DOE for a $2.26 billion loan to fund Thacker Pass Phase 1 construction. Net loss for Q2 was $6.3 million compared to net income of $10.9 million in Q2 2023.Construction progress at Thacker Pass continues with site preparation completed and detailed engineering over 30% complete. The company expects to issue full notice to proceed in H2 2024 following DOE loan closing. The project's revised CAPEX estimate is $2.93 billion, with mechanical completion targeted for 2027. In August 2024, the company received an $11.8 million grant from the U.S. Department of Defense for infrastructure development.The company continues advancing its...Show More
Lithium Americas reported Q2 2024 financial results with a cash position of $375.8 million as of June 30, 2024. The company completed a $275 million public offering in April 2024 and received a conditional commitment from the U.S. DOE for a $2.26 billion loan to fund Thacker Pass Phase 1 construction. Net loss for Q2 was $6.3 million compared to net income of $10.9 million in Q2 2023.Construction progress at Thacker Pass continues with site preparation completed and detailed engineering over 30% complete. The company expects to issue full notice to proceed in H2 2024 following DOE loan closing. The project's revised CAPEX estimate is $2.93 billion, with mechanical completion targeted for 2027. In August 2024, the company received an $11.8 million grant from the U.S. Department of Defense for infrastructure development.The company continues advancing its partnership with General Motors, with the GM Tranche 2 Investment of up to $329.9 million expected to close in H2 2024. The Workforce Hub development is progressing, with earthworks completed and infrastructure planning underway. The project has achieved 203,383 work hours without a lost time incident and is expected to create approximately 1,800 construction jobs and 360 permanent operational positions.

This announcement is a separate document:

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