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Ganfeng Lithium and Lithium Argentina Finalize Joint Venture Agreement
Lithium Argentina and Ganfeng Lithium announced they have entered into definitive agreements to finalize the new joint venture consolidating the Pozuelos-Pastos Grandes projects in Salta Province, Argentina. Concurrently, Ganfeng has agreed to invest $180M in Lithium Argentina through a six-year unsecured convertible note with a 4% coupon and convertible into Lithium Argentina's common shares at $12.50 per share. The conversion price represents a premium of approximately 96% to the five-day volume-weighted average price of the company's common shares on the NYSE for the period ending August 21. Proceeds, together with cash on hand, are intended to be used to fully repay the Company's $259M convertible debt due January 2027, extending the company's debt maturity profile on an unsecured basis and strengthening the balance sheet. Ganfeng and Lithium Argentina hold 67% and 33% of the joint partnership, respectively.
Cauchari-Olaroz Reports Q2 Revenue of $174M, Net Debt Reduced by $114M
Reports Q2 revenue $174M. "Cauchari-Olaroz delivered another quarter of consistent, strong performance, generating more than $141 million of free cash flow from operations. The team safely completed a planned shutdown while advancing optimization and debottlenecking initiatives and remaining on track to achieve production guidance. This cash generation enabled a $114M reduction in net debt while supporting distributions to the joint venture partners. The operation further strengthened its balance sheet, entering new debt facilities with international banks at an attractive interest rate under 5%, providing added flexibility to support future distributions and fund growth plans...With RIGI approval now in place, early development activities are underway and we look forward to sharing an updated development plan in the coming months. With high-quality, low-cost operations, meaningful cash flow generation and a clear, phased path to growth, we believe the company is well positioned to deliver long-term value for our shareholders."
Laser Photonics Corporation Borrow Rate Increases to 317%
Latest data shows the largest indicative borrow rate increases among liquid option names include: LASER PHOTONICS CORPORATION (LASE) 317.00% +5.23, Pluralsight Inc (PS) 194.67% +2.15, Kodiak AI, Inc. Common Stock (KDK) 98.50% +1.85, LAR Stock (LAR) 1.92% +0.89, New Fortress Energy (NFE) 28.29% +0.83, Rezolve AI Ltd (RZLV) 21.49% +0.61, Blackstone Secured Lending Fund (BXSL) 9.07% +0.47, Faraday Future Intelligent Electric Inc (FFAI) 12.86% +0.45, ZenaTech Inc (ZENA) 11.09% +0.34, and GraniteShares 2x Long IONQ Daily ETF (IONL) 20.30% +0.24.
Lithium Argentina Secures RIGI Approval for Cauchari-Olaroz Expansion
Lithium Argentina announced that the expansion of the Cauchari-Olaroz lithium brine operation under Argentina's Large Investment Incentive Regime, or RIGI, has obtained the approval of the Evaluation Committee. "Securing RIGI approval is an important milestone in de-risking the Stage 2 expansion at Cauchari-Olaroz," said Sam Pigott, CEO of Lithium Argentina. Under the regime, the expansion requires a minimum investment commitment of $200M in accountable assets, with at least $80M deployed within the first two years from approval.
Cauchari-Olaroz Reports Q1 Revenue of $168M
Reports Q1 revenue $168M. CEO Sam Pigott commented: "Cauchari-Olaroz continues to deliver exceptional performance, sustaining production near design capacity for a second consecutive quarter while delivering Q1 cash operating costs below $5,400 per ton. This operational consistency is translating directly into cash flow, with the operation expected to convert over 90% of Q1 EBITDA into cash in 2026. Building on this foundation, the Stage 2 expansion at Cauchari-Olaroz is progressing well, and we intend to grow organically by leveraging Stage 1 cash flow alongside project-level debt, as necessary. Following strong performance in recent quarters, Cauchari-Olaroz has distributed approximately $100M - $46M for our share - since the beginning of the year...With improving market conditions and a proven operating platform, we believe we are one of the strongest positioned producers to add low-cost production capacity. We have a pipeline that we believe can support growth of four to five times what we have built to date. Importantly, we believe this can be achieved in a disciplined, phased development approach funded through project-level options and operating cash flow, ultimately delivering the strongest possible return to our shareholders."
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