“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.
The resource was detailed in a National Instrument 43-101 compliant report filed December 4th, 2018 titled, Initial Measured Lithium and Potassium Resource Estimate Hombre Muerto North Project, Salta and Catamarca Provinces, Argentina, authored by independent consultants Montgomery and Associates.
To accomplish this, the Gaston Enrique, Natalia Maria and Alba Sabrina claims will be sited for drill programs. The Company has located a service provider who has a drill rig located on the salar near the Alba Sabrina claim block and is negotiating a drill contract.
Korean giant POSCO are moving ahead with plans to construct a 25,000 tonne per year conventional lithium extraction operation contiguous to the Company area.
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.
Highlights At Caucharí-Olaroz Lithium Project , 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.
Phillips, President and Chief Executive Officer, commented: “Increasing the scale of our North Carolina mineral resource to 39.2 Mt at 1.09% Li2O establishes our asset as one of the largest spodumene resources in North America – and the only one in the United States.
Fourth quarter 2020 Adjusted EBITDA was $5.6 million and adjusted loss per share was 2 cents per diluted share, with both sequential improvements due to higher sales and lower costs from reduced third-party carbonate usage.
For the full year, Livent reported revenue of $288.2 million and GAAP net loss of $19 million, or a loss of 13 cents per diluted share.
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