Gang ownership
posted on
Sep 30, 2022 09:21PM
IRR, it's not easy to find latest info, one analyst mentioned 11%, but I can only go by 2020 announcement:
Company") is pleased to announce that it has entered into definitive agreements with Ganfeng Lithium Co., Ltd. (together with its subsidiaries, “Ganfeng Lithium”) in respect to their joint venture company, Minera Exar S.A. (“Minera Exar” or “JV”) (collectively, the “Transaction”). Minera Exar owns 100% of the Caucharí-Olaroz lithium project (“Caucharí-Olaroz” or the “Project”) currently under construction in Jujuy, Argentina. The Transaction includes the following provisions:
....The Transaction constitutes a "related party transaction", as defined under Multilateral Instrument 61-101 ("MI 61-101") as Ganfeng Lithium is considered a “related party” (as defined in MI 61-101) to the Company. Ganfeng Lithium is a significant shareholder of Lithium Americas, holding approximately 16.7% of the Company’s outstanding common shares as of the date of this press release. MI 61-101 provides that where an issuer borrows from a related party or sells, transfers or disposes of an asset to a related party, those transactions may be considered “related party transactions” for the purposes of MI 61-101. The Company has determined that the Transaction would not be subject to either the formal valuation or minority shareholder approval requirements, respectively, set out in MI 61-101 ..... .....