""...Lithium stocks slammed on talk of Chinese cutbacks, negative analyst notes.....following a selloff in Asian lithium producing peers on rumors of production cutbacks at a major Chinese producer of cathodes...... Goldman Sachs reaffirmed its bearish views on lithium this week, forecasting supply will begin to outpace demand from 2023 onwards.

Note: On November 14 Fintel reported: "Goldman Sachs Group Inc reports 48.11% increase in ownership of LAC / Lithium Americas Corp."

... Lithium Americas [TSX:LAC] (LAC)

On October 27, Lithium Americas announced: "Lithium Americas reports third quarter 2022 results." Highlights include:

Argentina

Caucharí-Olaroz

• "Construction continues to progress towards production with key areas of the processing plant commenced commissioning in late Q3 2022.
• With construction nearing completion, focus remains on prioritizing production volume over product quality during ramp-up. As previously announced in July 2022, construction on a portion of the purification process designed to achieve battery-quality was deferred to the first half of 2023. The Company expects to provide an update and guidance on production ramp-up schedule around the end of 2022.
• Due primarily to the low official Argentine exchange rate and high local inflation, capital cost estimates at the official exchange rate have been revised to $852 million (on a 100% basis), up 15% from $741 million previously; however, at the substantially more favorable market-based exchange rate available and the streamlined production plan, the Company expects that there will be no material change to its total funding requirements for Stage 1. As of September 30, 2022, 85% of the budget has been spent with a substantial portion deferred until 2023, to complete the purification process. As of September 30, 2022, the Company had $63 million (49% share) in capital costs remaining at the official Argentine exchange rate, requiring funding of an estimated $31 million based on the latest market-based exchange rate.
• Development planning for Stage 2 expansion of at least 20,000 tonnes per annum of lithium carbonate equivalent continues to progress to align with completion of Stage 1. In Q2 2022, the seven local communities in the vicinity of the project approved the proposed expansion."

Pastos Grandes

• The Company continues to advance the Pastos Grandes $30 million development plan, with completion of the plan and a resulting construction decision expected for the second half of 2023. Following the recent exploration results from the adjacent property owned by Arena Minerals Inc. (TSXV: AN) and additional modelling of the basin, the Company is updating its exploration plan.

United States

Thacker Pass

• "The Lithium Technical Development Center ("LiTDC") in Reno continues to operate based on the Thacker Pass flowsheet processing raw ore to final battery-quality lithium carbonate. As of September 2022, over 100 tonnes of lithium ore were collected at Thacker Pass to feed the LiTDC to produce product samples for potential customers and partners. Results of ongoing test work to de-risk each step of the flowsheet continues to be in line with expectations.
• In Q2 2022, cultural work on approximately 13,000 acres was completed as required under the National Environmental Policy Act and conducted by an independent consultant, with the oversight and assistance of the Fort McDermitt Paiute and Shoshone Tribe ("Tribe"). No areas of archeological significance were identified at Thacker Pass.
• In October 2022, the Company signed a Community Benefits Agreement with the Tribe, to establish a framework for continued collaboration and define long-term benefits for the Tribe.
• On August 11, 2022, briefings were submitted for the appeal of the issuance of the Record of Decision ("ROD") for Thacker Pass. The US District Court, District of Nevada has scheduled an oral hearing for January 5, 2023.
• Lithium Americas is moving ahead with pre-construction activities, including the selection of an engineering, procurement and construction management firm to execute the development and construction plan for Thacker Pass.
• The Company is also evaluating potential investment, partnership and supply agreements to support the development of a North American supply chain. In addition, Lithium Americas continues to progress the U.S. Department of Energy Advanced Technology Vehicles Manufacturing loan program application.
• The timing for completion of a feasibility study is now scheduled for Q1 2023, in order to reflect ongoing feedback from strategic partnership and financing process, results of LiTDC operations and to align with the anticipated timing of the ROD appeal ruling."

Corporate

• "As at September 30, 2022, the Company had $392 million in cash, cash equivalents and short-term bank deposits, with an additional $75 million in available credit.
• On July 18, 2022, the Company made an equity investment in Ascend Elements, Inc. ("Ascend Elements"), a US-based lithium-ion battery recycling and engineered material company, by way of a subscription for Series C-1 preferred shares for $5 million.
• On September 20, 2022, the Company entered a Strategic Collaboration Agreement with Green Technology Metals Ltd. (ASX:GT1) ("GT1"), in which it owns a 5% stake, to advance a common goal of developing an integrated lithium chemical supply chain in North America...."

On November 3, Lithium Americas announced: "Lithium Americas announces intention to separate into two leading lithium companies." Highlights include:

The Separation will establish two separate companies that include:

• "An Argentina focused lithium company ("Lithium International") owning Lithium Americas' current interest in its Argentine lithium assets, including the near-production Caucharí-Olaroz lithium brine project in Jujuy, Argentina ("Caucharí-Olaroz"); and
• A North America focused lithium company ("Lithium Americas (NewCo)") owning the Thacker Pass lithium project in Humboldt County, Nevada ("Thacker Pass") and the Company's North American investments."

Upcoming catalysts:

• Q1, 2023 - Record of Decision ("ROD") for Thacker Pass. The US District Court, District of Nevada has an oral hearing for January 5, 2023.
• Q1 2023 - Thacker Pass FS.
• H2 2022 - Cauchari-Olaroz lithium production to commence and ramp to 40ktpa. From 2025 a Stage 2 20ktpa+ expansion is planned.
• 2024 - Possible lithium clay producer from Thacker Pass Nevada (full ramp by 2027).

NB: Ganfeng Lithium (51%) and Lithium Americas (49%) own the JV company Minera Exar S.A., which owns 91.5% interest and is entitled to 100% of the production from the Cauchari-Olaroz Project. The 8.5% interest is owned by Jujuy Energia y Mineria Sociedad del Estado ("JEMSE") (a company owned by the Government of Jujuy province).