A little perspective of LAC's recent investment.

Arena Minerals is a small exploration company with a market cap of only CAD $35 million. They describe themselves as a “prospect generator”, and they have projects exploring lithium, copper and gold. 

They have two lithium projects in Argentina, one of which is Sal de la Puna (SDLP) project in the Pastos Grandes salar, about 100km south of LAC’s Caucharí-Olaroz project. This project had been owned by Centaur Resources until late March of this year, when Arena purchased it for about USD $18 million. 

Clearly prior to this purchase Arena had been talking with both Ganfeng and LAC, who have now contributed about USD $7.8 million and USD $4.8 million, respectively, toward the purchase. Ganfeng now owns about 35% of the SLDO project and LAC owns about 22%. 

There had already been testing done by Centaur, so they understand a lot of what’s there, and the project is already permitted for more exploration and, very importantly, a pilot plant. No doubt with Ganfeng and LAC onboard this project will come to fruition as quickly as any project could. 

This investment and project are consistent with LAC and Ganfeng's expansion ambitions in Argentina.