Lithium Americas announces $100M ATM program; issues update on Caucharí-Olaroz project

Progress at Caucharí-Olaroz lithium brine project continues with focus on the carbonate plant civil works and the lime plant construction. All critical equipment remain on track to be delivered by the end of this year. Construction is expected to complete by the end of 2021 with production in early 2022.

Capital costs remain unchanged at $565M for the project and based on the 2019 feasibility study, operating cost estimates remain less than US$3,600/t of battery-quality lithium carbonate. “With over 60% of the capital costs spent and enhanced COVID-19 health and safety protocols in place, we remain fully-funded to advance Caucharí-Olaroz to production,” said Jon Evans, President and CEO.

As of September 30, reported $54M in cash in addition to $202M in credit and loan facilities to fund the Company’s share of Caucharí-Olaroz.

For its Thacker Pass lithium clay project in Nevada, the company expects to receive all major permits by the end of Q1 2021.

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I guess that answers my earlier question:  Production in "early 2022".  That is why the material in the Shelf Offering lists no revenue for 2021.  

As for stock dilution in commensurate with a momentary increase in Stock Price, see the following:  https://www.businesswire.com/news/home/20201019005851/en/Piedmont-Announces-Proposed-U.S.-Public-Offering-of-American-Depositary-Shares

According to Piedmont:  "The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission"

This only illustrates that the existing Shelf Offering allows a company, Piedmont in this case, to pull the trigger and activate that Shelf Offering and thus dilute the existing shares.

On the other hand, as for LAC currently, it should be noted that Jon Evans made the following statement ( as noted above, in reference to Cuachari-Olaroz ):

“With over 60% of the capital costs spent and enhanced COVID-19 health and safety protocols in place, we remain fully-funded to advance Caucharí-Olaroz to production,” said Jon Evans, President and CEO.