Lithium Americas cut at Scotiabank on Thacker Pass funding gap [Seeking Alpha]
Lithium Americas Corp. Common Shares (LAC)
Last lithium americas corp. common shares earnings: 11/12 07:00 am
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Source: Seeking Alpha
from $15, to reflect the 30% cost overrun at Thacker Pass to $2.93B from $2.27B previously, saying the $660M capex creep alone will hit net asset value by ~$4/share. Scotiabank estimates a ~$300M funding gap has emerged to complete Phase 1, or about a third of the company's market cap; this could be expensive capital to raise, analyst Ben Isaacson believes, considering the rate environment compared to how the market is valuing Lithium Americas' ( LAC ) paper. The analyst updates General Motors' financing assumptions for the $330M final tranche, saying that even if Scotiabank assumes an $8 issuance vs. the stock's ~$6 price, shares dilute significantly vs. previous expectations, and GM will not fund this tranche until the funding gap has been solved. Additionally, consistent with Scotiabank's Q4 reporting moves across its universe, Isaacson reduces his price deck to $20K/metric ton LCE from $25K/ton and have moved to a 10% discount rate from 8%. Recommended For You More Trend
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News
- Lithium Americas Corp. (LAC) Stock Dips While Market Gains: Key Facts [Yahoo! Finance]Yahoo! Finance
- Lithium Americas Corp. (LAC) Stock Falls Amid Market Uptick: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
- Lithium Americas Closes US$275 Million Underwritten Public Offering [Yahoo! Finance]Yahoo! Finance
- Lithium Americas Closes US$275 Million Underwritten Public OfferingGlobeNewswire
- While institutions own 17% of Lithium Americas (Argentina) Corp. (TSE:LAAC), individual investors are its largest shareholders with 47% ownership [Yahoo! Finance]Yahoo! Finance
LAC
Earnings
- 8/9/23 - Beat
LAC
Sec Filings
- 4/25/24 - Form 6-K
- 4/22/24 - Form 6-K
- 4/19/24 - Form 6-K
- LAC's page on the SEC website