Another update from :

“…  …Why the First Quarter of 2021 Has Been Promising for Lithium Market

FinancialNewsMedia.com News Commentary 

Commenting on how prices performed in Q1, William Adams of Fastmarkets said he was expecting a bullish outcome on the back of strong demand and restocking. "But the extent of the buying and suddenness of the emergence of tightness was a surprise," he explained to INN. "It soon became apparent that a lot of the surplus that had built up in 2020 has been bought up and stockpiled by a few large users, and that the idle capacity was not ready to restart in a timely manner for various reasons."  CRU Group also saw spot prices continue to move higher as expected through Q1. "EV sales across the key regions in Q1 have actually exceeded our already bullish expectations," James Jeary told INN. "On the supply side, there's been plenty of development of projects in preparation for future supply growth, which is unsurprising."

 LAC has reported financial and operating results for the fourth quarter and year ended December 31, 2020.  This news release should be read in conjunction with Lithium Americas' consolidated financial statements and management's discussion and analysis for the year ended December 31, 2020, which are available on the Company's website and SEDAR.

All amounts are in U.S. dollars unless otherwise indicated. Highlights At Caucharí-Olaroz Lithium Project ("Caucharí-Olaroz"): Construction activities at Caucharí-Olaroz continue to advance with enhanced COVID-19 health and safety protocols in place; Capital expenditures for the Project remain on budget with $477 million (84%) of the $565 million committed, including $388 million (69%) spent, as of December 31, 2020; Capital costs attributable to COVID-19 during the construction period, including costs for quarantine and extra camp capacity, are being assessed and now reported separate from the budgeted capital expenditures; Significant progress has been made on the lime plant, solvent extraction plant and lithium carbonate plant; The solar evaporation ponds are well advanced with sufficient brine inventory to support production ramp up; The health and safety of the workforce and surrounding communities remains the highest priority with no positive cases of COVID-19 reported at site in over 130 days; Based on the latest construction schedule, which assumes a reduced workforce at site in accordance with COVID-19 protocols throughout construction, the Company expects first production in mid-2022; In Q1 2021, Marcelo Cabral was appointed General Manager responsible for the development and commissioning of Caucharí-Olaroz. Mr. Cabral was previously with Gold Fields Ltd. and responsible for commissioning MMG Ltd.'s Las Bambas copper project in Peru; and In H1 2021, the Jujuy Energia y Mineria Sociedad del Estado ("JEMSE"), a company owned by the Government of Jujuy province, is expected to complete the exercise of its 2012 participation right, at which point it will receive and hold an 8.5% interest in Caucharí-Olaroz.