Lithium Americas surges to 52-week high following insider buying
We featured Lithium Americas (LAC) in our Morning Report on August 29th to highlight $345,378 worth of net insider buying in the preceding 90 days. Following that report, the stock has gone on to set a 52-week intraday high of $1.80 on Tuesday and it is up 26.1% since we reported on it.
Lithium Americas is focused on its 50/50 joint venture Cauchari-Olaroz project in Argentina. A March technical study for the first stage of the project (using a base case lithium carbonate price of US$12,000 per tonne) estimates post-tax net present value (at 10% discount) of US$803 million and a post-tax internal rate of return of 28.4% over an expected mine life of 40 years. As of August 6th, lithium carbonate averaged US$14,250 a metric ton.
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