Latest news with #LithiumAmericas
Yahoo
3 days ago
- Business
- Yahoo
Silver Stocks and the Land Grab for Silver Assets
Vancouver, Kelowna, and Delta, British Columbia--(Newsfile Corp. - May 29, 2025) - a global investor news source covering gold and silver stocks presents a mining snapshot highlighting news from silver miners, from expanded land packages to acquisitions, featuring Apollo Silver Corp. (TSXV: APGO) (OTCQB: APGOF) (FSE: 6ZF0). Silver Stocks and the Land Grab for Silver Assets To view an enhanced version of this graphic, please visit: The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California, and its option on the Cinco de Mayo Project, in Chihuahua, Mexico. With strong demand and a supply deficit since 2021, silver miners are actively acquiring land and developing projects to increase production and address the shortfall. In line with the sector's growth strategy, Apollo Silver Corp. (TSXV: APGO) (OTCQB: APGOF) (FSE: 6ZF0) recently announce it has acquired 2,215 hectares of highly prospective claims contiguous to its Waterloo property at its Calico Silver Project. From the news:The newly acquired claims, referred to as the Mule claims, comprise 415 lode mining claims and were acquired from LAC Exploration LLC, a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), which was the previous operator of the property. Preliminary mapping and sampling conducted by the previous operator of the Mule claims identified several high-grade silver targets, which will be evaluated as part of Apollo's future exploration planning. Additionally, a mapping and sampling program was recently completed at the Burcham gold prospect area in the southwest region of the Waterloo property (see news release dated February 12, 2025). This program confirmed the Calico fault system's role in controlling silver (Ag) and gold (Au) mineralization in the area and identified potential for copper (Cu), zinc (Zn), and lead (Pb) mineralization associated with stratabound and manto lenses. Highlights: Mule claims expand the Calico Project land package by over 285%, from 1,194 hectares to 3,409 hectares of contiguous claims. Mule claims trend along the mineralized Calico Fault System responsible for mineralization seen at Calico. Reports from the prior operator indicate that there are several strongly anomalous silver values on the property, which Apollo will attempt to ground-truth in the coming exploration programs. Sampling done across the Mule claims by previous operator has identified a large Ag anomaly associated with the same suite of host rocks at the Waterloo property. Exploration at the Burcham prospect at Waterloo included assays from 27 surface samples: Assay peaks up to 14.10 g/t Au, 20.70 g/t Ag, 0.17% Cu, 22.80% Zn and 5.74 % Pb from various samples. Identification of strata-bound lenses and mantos that show strong potential for Cu, Zn and Pb mineralization. Ross McElroy, President and CEO of Apollo commented, "The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts three discrete drill-delineated zones with resource estimates along a 4-km-long trend within the Calico fault zone. The Mule claims increase the project's land area by 2.5 times, strategically located to the east along this highly prospective mineralized corridor, offering significant potential for further discoveries. Apollo is committed to unlocking value in California for our shareholders." The Mule claims, comprising 415 lode mining claims administered by the Bureau of Land Management, feature a continuation of the mineralized Calico Fault System, as identified through mapping and sampling by the previous operator. The sedimentary rocks of the Barstow Formation, which hosts the Waterloo silver deposit and the volcanic Pickhandle Formation are prevalent across the acquired claims. The contact between the Barstow and Pickhandle Formations has demonstrated potential for gold mineralization, similar to that at Waterloo. Sampling across the Mule claims has identified several strong Ag and Au anomalies. Apollo plans to conduct a follow-up exploration program to develop exploration targets and delineate this highly prospective contact. Earlier this month, Pan American Silver Corp. and MAG Silver Corp announced a definitive agreement for Pan American to acquire all issued and outstanding common shares of MAG through a plan of arrangement. MAG, a tier-one primary silver mining company, holds a 44% joint venture interest in the large-scale, high-grade Juanicipio mine, operated by Fresnillo plc, which holds the remaining 56% interest in the joint venture. More from the news:Under the terms of the transaction, MAG shareholders will receive total consideration of approximately $2.1 billion, equivalent to $20.54 per MAG share, based on the closing price of Pan American's common shares on the New York Stock Exchange (NYSE) on May 9, 2025. The consideration comprises $500 million in cash and 0.755 Pan American shares per MAG share, subject to proration. This represents premiums of approximately 21% and 27% to the closing price and 20-day volume-weighted average price (VWAP) of MAG's common shares on the NYSE American (NYSEAM) as of May 9, 2025. Upon completion, existing MAG shareholders will own approximately 14% of Pan American's shares on a fully diluted basis, benefiting from participation in a larger, diversified, and growth-oriented silver and gold producer. Michael Steinmann, President and CEO of Pan American commented: "Our acquisition of MAG brings into Pan American's portfolio one of the best silver mines in the world. Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American's exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG's Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer. We would like to thank the Fresnillo and the Juanicipio management teams for the constructive interactions and impressive site visit. Together, we bring many decades of operator experience in Mexico and Latin America to the Joint Venture and we are looking forward to a collaborative future and value generation for all shareholders involved." George Paspalas, President and CEO of MAG commented, "This transaction represents a compelling opportunity for our shareholders, providing an immediate premium and meaningful exposure to Pan American's world-class assets and proven growth strategy. We are proud of what we've accomplished at MAG, particularly our partnership with Fresnillo which has created extraordinary value at the exceptional Juanicipio mine. Through the acquisition of our interest by Pan American - a respected leader in the global precious metals industry - our shareholders will participate in an exciting future defined by operational excellence, substantial exploration potential, and strong financial stewardship with significant portfolio exposure." Dolly Varden Silver Corporation recently announced that, following its news release dated May 5, 2025, it has completed the acquisition of the Kinskuch Property in northwest British Columbia's Golden Triangle. From the news:The Kinskuch Property is adjacent to the Company's Kitsault Valley Project and dramatically increases the Kitsault Valley Project size to approximately 77,000 hectares, covering some of the most underexplored and prospective rocks for silver, gold and copper mineralization in the Golden Triangle. Dolly Varden completed its acquisition of the Kinskuch Property from Hecla Mining Company for consideration of $5 million, which was satisfied by Dolly Varden issuing 1,351,963 common shares of the Company to Hecla. Hecla will also retain a 2% net smelter return royalty on the Kinskuch Property area (the "NSR"). The NSR will include a 50% buyback right, for $5 million, that will allow Dolly Varden to reduce the royalty to 1% at any time. As per an existing agreement between Dolly Varden and Hecla, Hecla will maintain a designated position on Dolly Varden's Technical Committee, working together to unlock the potential of the underexplored areas. The year began with a significant development for the sector when, in January, First Majestic Silver Corp. and Gatos Silver, Inc. announced the completion of First Majestic's acquisition of Gatos Silver under the agreement and plan of merger, as detailed in their joint news release dated September 5, 2024. More from the news:On Tuesday, January 14, 2025, both First Majestic and Gatos Silver announced that they received all necessary shareholder approvals at the respective special meetings of each company's shareholders. Approximately 98.44% of the votes cast at the special meeting of First Majestic's shareholders were voted in favour and approximately 99.23% of the votes cast at the special meeting of Gatos Silver's stockholders were voted in favour. Under the terms of the Merger Agreement, First Majestic has acquired all of the issued and outstanding shares of common stock of Gatos Silver and Gatos Silver is now a wholly-owned subsidiary of First Majestic. Stockholders of Gatos Silver will receive 2.55 First Majestic common shares for each Gatos Silver Share held, and cash in lieu of fractional First Majestic Shares . "With the closing of this transaction, First Majestic is integrating a high-quality, long-life, positive-free-cash-flow operation into our portfolio of producing mines in Mexico. Cerro Los Gatos is truly a world-class district with robust production and cost efficiency, combined with significant exploration potential," said Keith Neumeyer, President and CEO. "Over the coming quarters, we will communicate our plans for Cerro Los Gatos, including strategies to realize synergies and integration throughout the business. I take this opportunity to personally welcome Gatos Silver shareholders into First Majestic as we create the industry's leading intermediate primary silver producer. Finally, I welcome our joint venture partner, Dowa Metals and Mining, with whom we look forward to working closely at Cerro Los Gatos as a supportive and trusted partner." These acquisitions underscore the growing trend of land asset expansion and consolidation among silver miners. Research more mining stocks at with our mining stocks directory at About - Big Investing is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Disclaimer/Disclosure: This article featuring Apollo Silver Corp is paid for content as part of a monthly featured mining stock service. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. Investor ideas does not provide investment opinion but may quote industry experts and their opinions. More disclaimer info: Learn more about publishing your news release and our other news services on the newswire Global investors must adhere to regulations of each country. Please read privacy policy: Follow us on X @investorideas Follow us on Facebook Follow us on YouTube Contact 800-665-0411 To view the source version of this press release, please visit
Yahoo
6 days ago
- Business
- Yahoo
Lithium Americas Launches $100 Million At-The-Market Program
Lithium Americas Corp. LAC recently entered into an equity distribution agreement with TD Securities (USA) LLC and TD Securities Inc. Under this agreement, the company may sell its common shares, with no par value, for a total offering price of up to $100 million (or the equivalent in Canadian dollars) through an at-the-market (ATM) offered through the ATM Program will be sold via the New York Stock Exchange (NYSE), the Toronto Stock Exchange (TSX), or any other trading platform defined under applicable securities laws and otherwise agreed upon by the company and the agent, based on the prevailing market price at the time of sale. The timing and volume of any sales will be determined solely at the company's discretion, in line with the terms outlined in the TSX has conditionally approved the listing of the shares to be issued under the program, and the company has applied for approval from the NYSE for its listing as well. However, Lithium Americas is under no obligation to sell any shares under the program. The ATM Program will remain active until either all the shares authorized for issue under the program are issued and sold or the program is otherwise terminated in accordance with the distribution agreement, whichever is plans to use any net proceeds from the ATM Program, if generated, for general corporate purposes. These may include covering corporate and project-related overhead costs, funding capital expenditures, repaying debt and increasing working of LAC have lost 27.3% over the past year compared with a 9.8% decline of its industry. Image Source: Zacks Investment Research LAC currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Alamos Gold Inc. AGI and Hawkins, Inc. HWKNCarpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 11.1%. The company's shares have soared 110% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks Zacks Consensus Estimate for Alamos Gold current-year earnings is pegged at $1.29 per share. AGI, carrying a Zacks Rank #1, surpassed the Zacks Consensus Estimate in two of the trailing four quarters, while missing twice, with an average earnings surprise of 1.4%. The company's shares have rallied 58.1% in the past which currently carries a Zacks Rank #2, beat the consensus estimate in one of the trailing four quarters, while missing thrice. In this time frame, it has delivered an earnings surprise of roughly 8.2%, on average. The company's shares have rallied 43.6% in the past year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Hawkins, Inc. (HWKN) : Free Stock Analysis Report Lithium Americas Corp. (LAC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
15-05-2025
- Business
- National Post
Lithium Americas Establishes an ATM Program
Article content VANCOUVER, British Columbia — Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (' Lithium Americas ' or the ' Company ') has entered into an equity distribution agreement (the ' Distribution Agreement ') with TD Securities (USA) LLC (the ' U.S. Agent ') and TD Securities Inc. (the ' Canadian Agent,' and together with the U.S. Agent, the ' Agent '). Pursuant to the Distribution Agreement, the Company may sell, from time to time through the Agent, its common shares, no par value (the ' Common Shares '), up to a maximum aggregate offering price of $100 million (or its Canadian dollar equivalent) (the ' ATM Program '). Article content Any Common Shares sold through the ATM Program will be sold through the New York Stock Exchange (the ' NYSE '), the Toronto Stock Exchange (the ' TSX ') and/or any other 'marketplace' as defined under applicable securities laws and otherwise agreed between the Company and the Agent, at the prevailing market price at the time of sale. The volume and timing of sales under the ATM Program, if any, will be determined at the Company's sole discretion and in accordance with the terms of the Distribution Agreement. The TSX has conditionally approved the listing of the Common Shares that may be issued under the ATM Program, and the Company has applied for NYSE authorization for the listing of such Common Shares. The Company is not obligated to make any sales of Common Shares under the ATM Program. The ATM Program will be effective until the earlier of the issuance and sale of all of the Common Shares issuable pursuant to the ATM Program and the date that the ATM Program is otherwise terminated pursuant to the terms of the Distribution Agreement. Article content The Company intends to use the net proceeds from the ATM Program, if any, for general corporate purposes, which may include funding of corporate and project overhead expenses, financing of capital expenditures, repayment of indebtedness and additions to working capital. Article content The ATM Program is being established pursuant to the Company's registration statement on Form S-3, filed with the U.S. Securities and Exchange Commission (the ' SEC ') on May 15, 2025 (the ' Registration Statement '), which includes a prospectus related to the offering, and pursuant to the prospectus supplement dated May 15, 2025 (the ' Canadian Prospectus Supplement ') to the Company's Canadian short form base shelf prospectus dated November 8, 2023 (the ' Canadian Base Prospectus ') filed with the securities commissions in each of the provinces and territories of Canada. Article content A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The Registration Statement is accessible via EDGAR on the SEC website at and the Canadian Prospectus Supplement and the Canadian Base Prospectus may be downloaded from SEDAR+ at Alternatively, the Agent will send copies of such documents to United States investors upon request by contacting TD Securities (USA) LLC at 1 Vanderbilt Avenue, New York, NY 1001, by email at or by telephone at 833-297-2926 and to Canadian investors upon request by contacting TD Securities Inc. at 1625 Tech Avenue, Mississauga, Ontario L4W 5P5 Attention: Symcor, NPM, by email at sdcconfirms@ or by telephone at 289-360-2009. The Distribution Agreement is accessible via EDGAR and may be downloaded from SEDAR+. Article content This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any province, territory, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, territory, state or jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the Registration Statement, the Canadian Prospectus Supplement or the Canadian Base Prospectus. Article content Lithium Americas is developing the Thacker Pass project (' Thacker Pass ' or the ' Project ') located in Humboldt County in northern Nevada, which hosts the largest known measured lithium resource (Measured and Indicated) and reserve (Proven and Probable) in the world. Thacker Pass is owned by a joint venture between Lithium Americas (holding a 62% interest and is the manager of the Project) and General Motors Holdings LLC (holding a 38% interest). Lithium Americas' shares are listed on the NYSE and the TSX under the symbol 'LAC'. Article content This news release contains 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' within the meaning of applicable Canadian securities legislation (collectively referred to as 'forward-looking statements' (' FLS ')). All statements, other than statements of historical fact, are FLS and can be identified by the use of statements that include, but are not limited to, words, such as 'anticipate,' 'plan,' 'continue,' 'estimate,' 'expect,' 'may,' 'will,' 'project,' 'predict,' 'proposes,' 'potential,' 'target,' 'implement,' 'schedule,' 'forecast,' 'intend,' 'would,' 'could,' 'might,' 'should,' 'believe' and similar terminology, or statements that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. FLS in this news release includes, but is not limited to, statements related to the potential distribution of Common Shares pursuant to the ATM Program; the aggregate gross sales price of the Common Shares that may be issued pursuant to the ATM Program; the duration of the ATM Program; the expected use of net proceeds, if any, from the ATM Program; as well as other statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Article content FLS involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. FLS reflects the Company's current views about future events that, while considered reasonable by the Company as of the date of this news release, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Although the Company believes that the assumptions and expectations reflected in such FLS are reasonable, the Company can give no assurance that these assumptions and expectations will prove to be correct. Article content Readers are cautioned that the foregoing lists of factors are not exhaustive. There can be no assurance that FLS will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information, and readers are cautioned not to place undue reliance on any FLS. The Company's actual results could differ materially from those anticipated in any FLS as a result of the risks described in the Canadian Base Prospectus, the Canadian Prospectus Supplement, the Registration Statement, and the documents incorporated or deemed to be incorporated by reference therein, including the Company's most recent Annual Report on Form 10-K and other documents the Company has filed or will file with the SEC and the securities commissions in Canada. Article content Article content Article content Article content Article content Article content
National Post
15-05-2025
- Automotive
- National Post
Lithium Americas Reports First Quarter 2025 Results
Article content VANCOUVER, British Columbia — Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (' Lithium Americas ' or the ' Company ') announced that it has filed its Quarterly Report on Form 10-Q, which includes the Company's consolidated interim financial statements (' Financials ') for the three months ended March 31, 2025 (' Q1 2025 '), and provided an update on its Thacker Pass lithium project in Humboldt County, Nevada (' Thacker Pass ' or the ' Project '). Article content Jonathan Evans, President and Chief Executive Officer of Lithium Americas said, 'Major construction has commenced at Thacker Pass and the first significant construction milestone was achieved the first week of May 2025 with the initial placement of permanent concrete in the processing plant area. The site has undergone transformational change over the past year and there is excitement amongst our stakeholders and partners as we build one of North Americas largest lithium operations.' Article content As of March 31, 2025, the Company had approximately $446.9 million in cash and restricted cash. During the quarter ended March 31, 2025, $78.2 million of construction capital costs and other project-related costs were capitalized. Subsequent to Q1 2025 on April 1, 2025, the Company closed the previously announced strategic investment of $250 million from fund entities managed by Orion Resource Partners LP (collectively, ' Orion '), for the development and construction of Phase 1 of Thacker Pass (' Orion Investment '). With the Orion Investment, Lithium Americas has achieved fully funded status for the development of Phase 1 of Thacker Pass at the project and corporate level for the duration of construction. Contemporaneously with closing the Orion Investment on April 1, 2025, the Company and General Motors Holdings LLC (' GM ') announced the final investment decision (' FID ') for construction of Phase 1 of Thacker Pass. On declaring FID, GM and Lithium Americas contributed $100 million and $191.6 million in cash to the joint venture between GM and the Company (the ' JV '), respectively. The Company currently expects to make the first draw on the previously announced $2.26 billion loan from the U.S. Department of Energy (the ' DOE Loan ') sometime in the third quarter of 2025 (' Q3 2025 '). Article content Completion of Phase 1 of Thacker Pass is targeted for late 2027. Project engineering and procurement continue in line with the project schedule to support construction. Major construction has begun at Thacker Pass, with earthworks almost complete and permanent concrete placement in the processing plant area commenced in early May 2025. As of March 31, 2025, detailed engineering was over 60% design complete and expected to increase to over 90% design complete by year end 2025. The higher level of detailed engineering at the early stages of construction helps de-risks execution in terms of project schedule and cost. In April 2025, fabrication of the structural steel to be used to build the facilities at Thacker Pass commenced. First steel installation is targeted to commence in September 2025. Manufacturing of all long-lead equipment awarded continues to advance with expected delivery in line with the project schedule. During Q1 2025, the first modular housing units were installed at the workforce hub, the Company's all-inclusive housing facility for construction workers in Winnemucca (the ' Workforce Hub '). First occupancy of the Workforce Hub is targeted for the second half of 2025. The Company recently submitted a Plan of Operations to the Bureau of Land Management to build a limestone quarry named Western Quarry, approximately one hour drive from Thacker Pass via national and state highways. Western Quarry is being planned as a source of local, lower cost limestone, a reagent used in the Thacker Pass processing flowsheet to produce battery-quality lithium carbonate. Article content Mr. Evans added, 'The Company continues to review its potential exposure to the fluid tariff announcements. Our teams are working toward limiting the effect of any potential tariff or trade disputes on our construction supply chain. Approximately 75% of the Company's total capital project cost structure relates to labor, contractors and other services which are not expected to be directly affected by any of the potential tariffs or trade disputes.' Article content The scientific and technical information in this news release has been reviewed and approved by Rene LeBlanc, PhD, SME, Vice President, Growth and Product Strategy of the Company, and a 'qualified person' as defined under National Instrument 43-101 and Subpart 1300 of Regulation S-K under the United States Securities Act of 1933, as amended. Article content During Q1 2025, net loss increased due to higher general and administrative expenses reflecting continuing transition to domestic filer status, increased reporting obligations under the DOE Loan and higher transaction costs reflecting increased financing activities that concluded with the Orion Investment. Article content During Q1 2025, total assets decreased reflecting the use of cash for payment of transaction costs and other payables accrued at December 31, 2024. Article content This news release should be read in conjunction with the Company's Quarterly Report on Form 10-Q for the three months ended March 31, 2025, available on the Company's issuer profile on EDGAR at SEDAR+ at and on the Company's website at Article content Lithium Americas is committed to responsibly developing the Thacker Pass project located in Humboldt County in northern Nevada, which hosts the largest known measured lithium resource (Measured and Indicated) and reserve (Proven and Probable) in the world. Thacker Pass is owned by a JV between Lithium Americas (holding a 62% interest and is the manager of the Project), and GM (holding a 38% interest). The Company is focused on advancing Phase 1 of Thacker Pass toward production, targeting nominal design capacity of 40,000 t/y of battery-quality lithium carbonate. The Company and its engineering, procurement and construction management contractor, Bechtel, entered into a National Construction Agreement (Project Labor Agreement) with North America's Building Trades Unions for construction of Thacker Pass. The three-year construction build is expected to create nearly 2,000 direct jobs, including 1,800 skilled contractors. Lithium Americas' shares are listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol LAC. To learn more, visit or follow @LithiumAmericas on social media. Article content This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation, and 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively referred to as ' forward-looking statements ' or ' FLS '). All statements, other than statements of historical fact, are FLS and can be identified by the use of statements that include, but are not limited to, words, such as 'anticipate,' 'plan,' 'continue,' 'estimate,' 'expect,' 'may,' 'will,' 'project,' 'predict,' 'propose,' 'potential,' 'target,' 'implement,' 'schedule,' 'forecast,' 'intend,' 'would,' 'could,' 'might,' 'should,' 'believe' and similar terminology, or statements that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. FLS in this news release includes, but is not limited to: statements relating to the anticipated sources and uses of funds to complete project financing, statements relating to the JV, the DOE Loan and the Orion Investment, including statements regarding satisfaction of draw-down conditions on the DOE Loan and expected timing for first draw-down on the DOE Loan; expectations and timing on the commencement of major construction and first production; project de-risking initiatives and the extent to which work to date has de-risked project execution; the expected operations, financial results and condition of the Company; the Company's future objectives and strategies to achieve those objectives, including the future prospects of the Company; the estimated cash flow, capitalization and adequacy thereof for the Company; the estimated costs of the development of Thacker Pass, including timing, progress, approach, continuity or change in plans, construction, commissioning, milestones, anticipated production and results thereof and expansion plans; cost and expected benefits of the transloading terminal; anticipated timing to resolve, and the expected outcome of, any complaints or claims made or that could be made concerning the permitting process in the United States for Thacker Pass; the timely completion of environmental reviews and related consultations, and receipt or issuance of permits and approvals, in the United States for the Company's development and resultant operations; capital expenditures and programs; estimates, and any change in estimates, of the mineral resources and mineral reserves at Thacker Pass; development of mineral resources and mineral reserves; the realization of mineral resources and mineral reserves estimates, including whether certain mineral resources will ever be developed into mineral reserves, and information and underlying assumptions related thereto; government regulation of mining operations and treatment under governmental and taxation regimes; the future price of commodities, including lithium; the creation of a battery supply chain in the United States to support the electric vehicle market; the timing and amount of future production, currency exchange and interest rates; the Company's ability to raise capital; expected expenditures to be made by the Company on Thacker Pass; statements relating to revised capital cost estimates; ability to produce high purity battery grade lithium products; settlement of agreements related to the operation and sale of mineral production as well as contracts in respect of operations and inputs required in the course of production; the timing, cost, quantity, capacity and product quality of production at Thacker Pass; successful development of Thacker Pass, including successful results from the Company's testing facility and third-party tests related thereto; statements with respect to the expected economics of Thacker Pass, including capital costs, operating costs, sustaining capital requirements, after tax net present value and internal rate of return, pricing assumptions, payback period, sensitivity analyses, net cash flows and life of mine; anticipated job creation and the completion of the Workforce Hub; the expectation that the National Construction Agreement (Project Labor Agreement) with North America's Building Trades Unions for construction of Phase 1 of Thacker Pass will minimize construction risk, ensure availability of skilled labor, address the challenges associated with Thacker Pass' remote location and be effective in prioritizing employment of local and regional skilled craft workers, including members of underrepresented communities; the expected workforce development training program being prepared with Great Basin College; the Company's commitment to sustainable development, minimizing the environmental impact at Thacker Pass and plans for phased reclamation during the life of mine including use benefits of growth media; ability to achieve capital cost efficiencies; as well as other statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Article content FLS involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. FLS reflects the Company's current views about future events, and while considered reasonable by the Company as of the date of this news release, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions and other factors upon which such FLS is based include, without limitation: expectations regarding Phase 2 of Thacker Pass, including financing; the ability of Lithium Nevada LLC (' LN ') to draw-down on the DOE Loan on the anticipated timeline, or at all, and the absence of material adverse events affecting the Company during the construction of the Project; the ability of LN to satisfy all draw-down conditions for the DOE Loan in a timely manner; the ability of the Company to perform conditions and meet expectations regarding the Company's financial resources and future prospects; the ability to meet future objectives and priorities; a cordial business relationship between the Company and third party strategic and contractual partners; unforeseen technological and engineering problems; changes in general economic and geopolitical conditions, including as a result of regulatory changes by the current presidential administration and potential changes in United States trade policy, including the imposition of tariffs, import or export restrictions, or other trade barriers or retaliatory measures by foreign or domestic governments and the resulting consequences on, among other things, the extractive resource industry, the green energy transition and the electric vehicle market; uncertainties inherent to feasibility studies in the NI 43-101 Technical Report and S-K 1300 Technical Report and mineral resource and mineral reserve estimates; the mine processing facilities, based on the results of the testing facility and third-party tests, performing as expected; the ability of the Company to secure sufficient additional financing, advance and develop Thacker Pass, and to produce battery grade lithium; the respective benefits and impacts of Thacker Pass when production operations commence; settlement of agreements related to the operation and sale of mineral production as well as contracts in respect of operations and inputs required in the course of production; the Company's ability to operate in a safe and effective manner, and without material adverse impact from the effects of climate change or severe weather conditions; uncertainties relating to receiving and maintaining mining, exploration, environmental and other permits or approvals in Nevada; demand for lithium, including that such demand is supported by growth in the electric vehicle market and lithium-ion battery market; current technological trends; the impact of increasing competition in the lithium business, and the Company's competitive position in the industry; continuing support of local communities and the Fort McDermitt Paiute and the Shoshone Tribe in relation to Thacker Pass, and continuing constructive engagement with these and other stakeholders, including any expected benefits of such engagement; risks related to cost, funding and regulatory authorizations to develop the Workforce Hub; the stable and supportive legislative, regulatory and community environment in the jurisdictions where the Company operates; impacts of inflation, deflation, currency exchange rates, interest rates and other general economic and stock market conditions; the impact of unknown financial contingencies, including litigation costs, environmental compliance costs and costs associated with the impacts of climate change, on the Company's operations; increased attention to environmental, social, governance and safety and sustainability-related matters; risks related to the Company's public statements with respect to such matters that may be subject to heightened scrutiny from public and governmental authorities related to the risk of potential 'greenwashing,' (i.e., misleading information or false claims overstating potential sustainability-related benefits); risks that the Company may face regarding potentially conflicting initiatives from certain U.S. state or other governments; estimates of and unpredictable changes to the market prices for lithium products; development and construction costs for Thacker Pass, and costs for any additional exploration work at the Project; estimates of mineral resources and mineral reserves, including whether mineral resources not included in mineral reserves will be further developed into mineral reserves; some of the modifying factors used to convert mineral resources to mineral reserves may change materially, and could materially impact the mineral reserve estimate; reliability of technical data; anticipated timing and results of exploration, development and construction activities, including the impact of ongoing supply chain disruptions and availability of equipment and supplies on such timing; timely responses from governmental agencies responsible for reviewing and considering the Company's permitting activities at Thacker Pass; availability of technology, including low carbon energy sources and water rights, on acceptable terms to advance Thacker Pass; government regulation of mining operations and mergers and acquisitions activity, and treatment under governmental, regulatory and taxation regimes; ability to realize expected benefits from investments in or partnerships with third parties; accuracy of development budgets and construction estimates; that the Company will meet its future objectives and priorities; that the Company will have access to adequate capital to fund its future projects and plans; that such future projects and plans will proceed as anticipated; compliance by LN and GM with terms of the JV agreements and the ability of LN and GM to fund their share of funding obligations for Thacker Pass; the lack of any material disputes or disagreements between LN and GM; the regulation of the mining industry by various governmental agencies; as well as assumptions concerning general economic and industry growth rates, commodity prices, resource estimates, currency exchange and interest rates and competitive conditions. Although the Company believes that the assumptions and expectations reflected in such FLS are reasonable, the Company can give no assurance that these assumptions and expectations will prove to be correct. Article content Readers are cautioned that the foregoing lists of factors are not exhaustive. There can be no assurance that FLS will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, readers are cautioned not to place undue reliance on this information, and that this information may not be appropriate for any other purpose, including investment purposes. The Company's actual results could differ materially from those anticipated in any FLS as a result of the risk factors set out herein, and in the Company's other continuous disclosure documents available on SEDAR+ at and EDGAR at Readers are further cautioned to review the full description of risks, uncertainties and management's assumptions in the aforementioned documents and other disclosure documents available on SEDAR+ and on EDGAR. Article content Article content Article content Article content Contacts Article content Article content Article content
Associated Press
09-04-2025
- Business
- Associated Press
Gary Green Gaming Announces Entertainment-Casino-Hotel Complex Adjacent to the World's Largest Lithium Mine
BOCA RATON, FL, UNITED STATES, April 9, 2025 / / -- In a high-stakes move straight from the Gary Green playbook, Gary Green Gaming™, the iconic disruptor of American gaming, has signed a definitive agreement to purchase and reinvent the only casino neighboring the largest lithium deposit on Earth—the Thacker Pass lithium mine in northern Nevada. With Lithium Americas investing $2.93 billion and General Motors committing $650 million into what's believed to be the most critical lithium site in the world—capable of supplying up to 25% of global lithium demand—Gary Green Gaming is seizing the moment to create a world-class entertainment and hospitality hub in what is quickly becoming the 'Silicon Valley of the energy transition.' This bold venture will transform the half-century old roadhouse 'Say When Casino' into a full-fledged, electrified entertainment frontier, anchoring what's fast becoming the Silicon Valley of the energy transition. 'Where there are modern gold rushes, there should be modern saloons,' declared Gary Green, the larger-than-life founder of Gary Green Gaming™. 'We're building the next Wild West adventure—only this time, it's electric.' Gary Green Gaming™ has entered into a binding Purchase and Sale Agreement this week and their development plans include: • Redesign and expansion of the existing roadhouse-style casino into a modern-day glitter palace • A 24-hour diner catering to shift workers, travelers, and locals • A boutique hotel for business and leisure guests as well as temporary housing for miners • A major entertainment complex and broadcast-recording center, poised to become the media hub for lithium-related coverage as well as a showcase for national music acts. • A shopping district targeting the needs of thousands of incoming workers and support staff while enhancing availability to the existing population This transformative project is much more than a casino—it's a cultural epicenter for a town about to explode onto the world stage. 'The old casino was a terrific locals' watering-hole for half a century,' said Green. 'But our acquisition allows us to fulfill a 21st-century vision—where the miners unwind, the media reports, the bands play, and the story of America's energy future is told—live and loud.' Located at ground zero of the next energy revolution, the Gary Green Gaming™ project is uniquely positioned as the 'first mover' and the only game in town, just as lithium becomes the new oil. 'In all our years developing attractions and casinos, this is hands-down the most compelling deal we've ever seen,' Green concluded. 'That's why we bought it ourselves. Lithium is the new oil—and we're the new boomtown of the New West. The opportunity is unprecedented.' ________________________________________ About Gary Green Gaming™ Gary Green Gaming™ is synonymous with daring innovation in the gaming and hospitality industries. With a portfolio of headline-making ventures and a flair for storytelling, Gary Green and his team are known for transforming overlooked markets into vibrant entertainment ecosystems. Gary Green Gaming +1 702-527-8247 email us here Lisa Dorn, Director of Communications Legal Disclaimer:
