Lithium Americas is developing one of the world's largest and lowest cost lithium operations. The Company has defined the world's third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas' operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry. Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.
Lithium Americas Corp. (TSE:LAC) reported on Tuesday that the company has begun trading today on the US-based OTCQX International Marketplace.
The company will trade under the symbol "LHMAF" on the OTC, and will continue to trade on the Toronto Stock Exchange in Canada.
The OTC is a platform for broker dealers to trade unlisted stocks, electronically.
Lithium Americas said it has retained Stifel, Nicolaus & Company (NYSE: SF) to serve as the company’s "Principal American Liaison", responsible for providing guidance on the OTCQX requirements.
“The OTCQX has a reputation for providing U.S. investors with improved liquidity, transparency and superior information through their U.S. regulated broker-dealers, and will provide existing and new U.S. investors with easier access to the exciting developments of one of the world’s largest known lithium brine resources located in Argentina," said president and CEO of Lithium Americas, Waldo Perez.
Lithium Americas is a junior exploration company focused on the exploration of lithium, potassium, borax and other minerals in South America.
The company’s principal and most advanced property comprises a significant portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz, covering 82,498 hectares located in the “Lithium Triangle” region of South America. This region contains over 80% of the world’s lithium brine reserves.
Lithium Americas' recently completed preliminary economic assessment identified a pre-tax net present value of $983 million, at an 8% discount, and operating expenses of one of the lowest in the industry.
Mitsubishi Corporation and Magna International are shareholders in the company, in addition to having off-take arrangements with Lithium Americas.