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Lithium Americas Corp - Stock Quote LAC

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Morningstar's Lithium Americas Corp Stock Analysis

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Raising Our Lithium Producer Fair Value Estimates on Higher Price Forecast

Seth Goldstein, CFA Senior Equity Analyst

Analyst Note

| Seth Goldstein, CFA |

We have raised our near- and medium-term lithium price forecast. Due to undersupplied market conditions, lithium prices are currently in the mid-$70,000 per metric ton range, which is near the all-time highs set earlier this year and well above our marginal cost estimate of $12,000 per metric ton. While we expect prices to moderate slightly, we forecast lithium carbonate prices will average $70,000 per metric ton in 2023, down less than 10% from current levels.

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Lithium Americas Corp's Company Profile

Business Description

Lithium Americas is developing three lithium production assets, two brine resources located in northwestern Argentina and a clay resource in Nevada, U.S. While the company has no current lithium production, we expect the first Argentina resource, Cauchari-Olaroz, to enter production in late 2022. We expect the Nevada project, Thacker Pass, to enter production in the middle of the 2020s and the second brine resource, Pastos Grandes, to enter production in the late-2020s. Lithium Americas plans for all three resources to be fully integrated, selling into the lithium chemical market. The company is also exploring separating into two companies, with assets divided by geography, an Argentina company and a U.S. company.

900 West Hastings Street, Suite 300
Vancouver, BC, V6C 1E5, Canada
T +1 778 656-5820
Sector Basic Materials
Industry Other Industrial Metals & Mining
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 65