Not a good report in my mind. LAC reports capital cost at $2.2 billion. $1 billion is less than half of that, despite LAC suggesting that the loan would cover up to 3/4 of the capital cost. So they'll have $1 billion + $384 million cash as of separation + $330 from GM T2, totalling $1.714 billion, or $486 million short.

This shortfall will have to come from somewhere, but not immediately because it will take time to burn through what they already have raised. 

I had heard $1.5 billion for the loan in the past but maybe that was just coming from LAC's 3/4 funding announcement. I mean, DOE gave Ioneer $700 million so maybe the $1 billion number is being low-balled. 

Lithium Americas in talks with US Energy Dept for $1 bln loan