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Ganfeng Lithium Co., Ltd. (002460.SZ)

Shenzhen - Shenzhen Delayed Price. Currency in CNY
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118.35-1.00 (-0.84%)
As of 10:32AM CST. Market open.
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Neutralpattern detected
Previous Close119.35
Open120.93
Bid118.28 x 0
Ask118.29 x 0
Day's Range116.00 - 121.33
52 Week Range46.36 - 149.30
Volume9,662,041
Avg. Volume33,461,559
Market Cap157.579B
Beta (5Y Monthly)1.01
PE Ratio (TTM)107.49
EPS (TTM)1.10
Earnings DateApr 29, 2021
Forward Dividend & Yield0.30 (0.26%)
Ex-Dividend DateJul 22, 2020
1y Target Est36.28
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    • Lithium Americas and Ganfeng Lithium Commence Expansion Planning at Caucharí-Olaroz
      GlobeNewswire

      Lithium Americas and Ganfeng Lithium Commence Expansion Planning at Caucharí-Olaroz

      VANCOUVER, British Columbia, May 28, 2021 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") is pleased to provide an update on the Caucharí-Olaroz lithium project (“Caucharí-Olaroz”) in partnership with Ganfeng Lithium Co., Ltd (“Ganfeng Lithium”) (together, the “Caucharí-Olaroz Partners”) in Jujuy province, Argentina. The Caucharí-Olaroz Partners have approved the commencement of development planning for a second stage (“Stage 2”) expansion of at least an additional 20,000 tonnes per annum (“tpa”) of lithium carbonate equivalent (“LCE”) production capacity from Caucharí-Olaroz. “Caucharí-Olaroz is on track to become the largest new lithium brine operation in over 20 years,” commented George Ireland, Chairman of Lithium Americas, “With construction for Stage 1 expected to be complete within the next year, together with Ganfeng Lithium, we are beginning to plan our next phase of growth in Argentina.” Stage 2 Expansion PlanThe Caucharí-Olaroz Stage 2 expansion is targeting the following development parameters: Production capacity of at least 20,000 tpa LCE to commence in 2025.Construction commencing in H2 2022, following the commissioning and start-up of the initial 40,000 tpa operation (“Stage 1”).Infrastructure additions to support long-term expansions beyond Stage 2. The Caucharí-Olaroz Partners expect to provide further details of the Stage 2 expansion plan by Q4 2021, followed by an updated feasibility study in 2022. Stage 1 Construction UpdateConstruction on the initial 40,000 tpa Stage 1 operation remains on track for first production in mid-2022. There are currently over 1,000 workers on site, following the completion of additional camp capacity to ensure compliance with strict COVID-19 health and safety protocols. No positive cases of COVID-19 have been reported at site in eight months.In Q2 2021, senior members of Ganfeng Lithium’s commissioning and construction team arrived in Argentina to assist the project through to start-up. Ganfeng Lithium’s team brings recent experience constructing and commissioning lithium carbonate plants in China.All major equipment and the majority of bulk materials have been delivered to site, reducing risk of supply chain delays.The evaporation ponds are well advanced with sufficient brine inventory to support production ramp up.Mechanical construction of the lime plant is completed and the piping work to connect the lime line is more than 95% complete. Qualified PersonThe scientific and technical information in this news release has been reviewed and approved by Dr. Rene LeBlanc, a Qualified Person for purposes of NI 43-101 by virtue of his experience, education and professional association. Dr. LeBlanc is the Chief Technical Officer of the Company. Detailed scientific and technical information on the Caucharí-Olaroz project can be found in the “NI 43-101 Technical Report – Updated Feasibility Study and Mineral Reserve Estimation to Support 40,000 tpa Lithium Carbonate Production at the Caucharí-Olaroz Salars, Jujuy Province, Argentina”, with an effective date of September 30, 2020, available on the Company’s SEDAR profile at www.sedar.com. About Ganfeng LithiumGanfeng Lithium is the largest lithium chemicals producer in China, with a diverse product mix including lithium carbonate, lithium chloride, lithium fluoride, lithium metal and butyl lithium. Founded in 2000, Ganfeng Lithium is listed on the Shenzhen Stock Exchange and Hong Kong Stock Exchange (HKEX: 1772, SZSE: 002460). About Lithium AmericasLithium Americas is a development-stage company with projects in Jujuy, Argentina and Nevada, United States. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol “LAC”. For further information contact: Investor RelationsTelephone: +1-778-656-5820Email: ir@lithiumamericas.comWebsite: www.lithiumamericas.com Forward-Looking Statements This news release contains “forward-looking information” and “forward-looking statements” (which we refer to collectively as forward-looking information) under the provisions of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking information. Examples of forward-looking information in this news release include, among other things, statements related to: successful development of the Caucharí-Olaroz project and future expansion plans, including timing, progress, construction, milestones, anticipated production and results thereof; the expected benefits from previous transactions; expectations and anticipated impact of the COVID-19; capital expenditures and programs; estimates of the mineral resources and mineral reserves at the Company’s properties; development of mineral resources and mineral reserves; government regulation of mining operations and treatment under governmental and taxation regimes; the future price of commodities, including lithium; the realization of mineral resources and mineral reserves estimates; the timing and amount of future production; currency exchange and interest rates; expected outcome and timing of environmental surveys and permit applications and other environmental matters; the Company’s ability to raise capital; expected expenditures to be made by the Company on the properties in which it holds an interest; the timing, cost, quantity, capacity and product quality of production of the Caucharí-Olaroz project; successful operation of the Caucharí-Olaroz project under its co-ownership structure; whether the Company will ever be able to realize on an additional debt funding commitment, including the terms and timing thereof; ability to produce high purity battery grade lithium products; capital costs, operating costs, and sustaining capital requirements of the Caucharí-Olaroz project; the Company’s share of the expected capital expenditures for the construction of the Caucharí-Olaroz project; ability to achieve capital cost efficiencies; and stability and inflation related to the Argentine peso, whether the Argentine government implements additional foreign exchange and capital controls, and the effect of current or any additional regulations on the Company’s operations. Forward-looking information is based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such information. Such information reflects the Company’s current views with respect to future events and is necessarily based upon a number of assumptions that, while considered reasonable by the Company today, are inherently subject to significant uncertainties and contingencies. These assumptions include, among others, the following: current technological trends; a cordial business relationship between the Company, Ganfeng and JEMSE for the Caucharí-Olaroz project; the ability of the Company to fund, advance and develop the Caucharí-Olaroz project and the Thacker Pass project, and the respective impacts of the projects when production commences; the Company’s ability to operate in a safe and effective manner; uncertainties relating to receiving and maintaining mining, exploration, environmental and other permits or approvals in Nevada and Argentina; demand for lithium, including that such demand is supported by growth in the electric vehicle market; the impact of increasing competition in the lithium business, and LAC’s competitive position in the industry; general economic conditions; the stable and supportive legislative, regulatory and community environment in the jurisdictions where the Company operates; stability and inflation of the Argentinian peso, including any foreign exchange or capital controls which may be enacted in respect thereof, and the effect of current or any additional regulations on the Company’s operations; the impact of unknown financial contingencies, including litigation costs, on the Company’s operations; gains or losses, in each case, if any, from short-term investments in Argentine bonds and equities; estimates of and unpredictable changes to the demand and market prices for lithium products; exploration, development and construction costs for the Caucharí-Olaroz project and the Thacker Pass project; estimates of mineral resources and mineral reserves, including whether mineral resources will ever be developed into mineral reserves; reliability of technical data; anticipated timing and results of exploration, development and construction activities, including the impact of COVID-19 on such timing; timely responses from governmental agencies responsible for reviewing and considering permitting activities for the projects in which the Company holds an interest; the Company’s ability to obtain additional financing as needed to advance the projects in which it holds an interest, including pursuant to an additional debt funding commitment, on satisfactory terms or at all; the ability to develop and achieve production at any of the Company’s mineral exploration and development properties; the impact of COVID-19 on the Company’s business generally; the expected benefits from prior transactions; accuracy of development budget and construction estimates; and preparation of a development plan and feasibility study for lithium production at the Thacker Pass project. Forward-looking information also involves known and unknown risks that may cause actual results to differ materially. These risks include, among others, inherent risks in the development of capital intensive mineral projects (including as co-owners); variations in mineral resources and mineral reserves; global demand for lithium; recovery rates and lithium pricing; risks associated with successfully securing adequate financing; changes in project parameters and funding thereof; risks related to growth of lithium markets and pricing for products thereof; changes in legislation; governmental or community policy; political risk associated with foreign operations; permitting risk, including receipt of new permits and maintenance of existing permits; title and access risk; cost overruns; unpredictable weather and maintenance of natural resources; unanticipated delays; intellectual property risks; currency and interest rate fluctuations; operational risks; health and safety risks; and, general market and industry conditions. Additional risks, assumptions and other factors are set out in the Company’s latest management discussion analysis and annual information form, copies of which are available on SEDAR at www.sedar.com. Although the Company has attempted to identify important risks and assumptions, given the inherent uncertainties in such forward-looking information, there may be other factors that cause results to differ materially. Forward-looking information is made as of the date hereof and the Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Accordingly, readers are cautioned not to place undue reliance on forward-looking information.

    • Arena Minerals Closes $2.8M Financing Led by Leading Lithium Producer Ganfeng Lithium Co.
      GlobeNewswire

      Arena Minerals Closes $2.8M Financing Led by Leading Lithium Producer Ganfeng Lithium Co.

      THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES TORONTO, March 16, 2021 (GLOBE NEWSWIRE) -- Arena Minerals Inc. ("Arena" or the "Company") (TSX-V: AN) announces the closing of the second and final tranche of the non-brokered private placement announced on February 4, 2021. The Company has issued an additional 25,236,278 units (the “Units”) at a price of $0.05 per Unit for additional proceeds of $1,261,813. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share of the Company at $0.15 for a period of 36 months from the date of issuance. The shares, warrants and any shares issued upon the exercise of the warrants issued in this second tranche closing are subject to a hold period which expires March 16, 2021. With the closing of the first tranche which closed on March 15, the total raised in the financing was $2.8 million. GFL International Co., Ltd, a wholly owned subsidiary of Ganfeng Lithium Co. (“Ganfeng”; 1772.HK; OTCQX: GNENF), an established global lithium carbonate producer, has acquired a total of 39,525,596 Units for gross proceeds of $1,976,280 pursuant to the terms of the offering. Arena also announces that 9,205,000 warrants with a strike price of $0.10 have recently been exercised for total proceeds of $920,500. An additional 36,795,000 unexercised warrants with a strike price of $0.10 expire on September 10, 2021. Considering this and the present closing, Ganfeng now owns 19% of the Company’s issued and outstanding Common Shares. Ganfeng is one of the world’s leading lithium manufacturers and is listed on the Shenzhen Stock Exchange and on the Hong Kong Stock Exchange since 2018 when it raised US$ 440 million in an IPO. Ganfeng is a top three lithium compound producer, and the largest producer of lithium metal globally. Ganfeng has a strong presence in Argentina, including a 51% ownership in Minera Exar whom operates the Cauchari Lithium project in Jujuy province. As a result of the non-brokered private placement, the exercise of warrants, previously held cash and cash equivalents, the Company is now well financed for the advancement of its drill ready lithium brine properties in Argentina and other corporate initiatives. The proceeds from the Offering will be used by Arena to develop its Antofalla lithium brine property in the puna region of Argentina, for potential acquisitions, and for general corporate purposes. Arena’s Antofalla properties comprise a total of 6,000 hectares covering a portion of the Antofalla salar located in Catamarca, Argentina. The properties are immediately south and adjacent to Albemarle Corporation’s similarly named Antofalla project. Mr. Eduardo Morales, Executive Chairman of Arena, commented: “We are now in a strong position, thanks to our healthy financial situation and our partnership with Ganfeng Lithium, one of the world’s largest and most successful companies in the battery materials sector, to execute on our business plan. Alongside developing the Antofalla project, we have a clear strategy in mind to grow this Company to become a lithium producer by targeting and acquiring further mid-size projects to complement Antofalla. As stated before, our objective is to ultimately own and operate several high-quality assets and supply lithium chloride to a centralized chemical plant. We are convinced this is the future of the brine lithium industry, allowing assets to be developed without incurring excessive capital costs while reducing the technical risk of having to build and operate a chemical plant.” Mr. Morales is the former President of Rockwood Litio Ltda (Chile), where he oversaw the development of the world’s premier lithium brine asset in the Salar the Atacama, Chile. Rockwood was sold in 2014 for USD 6.2 Billion. Under its subscription agreement with Arena, and provided it holds at least 7.5% of Arena's common shares, Ganfeng has been granted the right (i) to participate in future Arena financings to maintain its percentage ownership interest in Arena; (ii) to acquire up to 35% interest in any asset acquisition completed by Arena; and iii) a Right of First Offer on off-take agreements on a per project basis. Ganfeng has also been granted the right to appoint a nominee to the Arena board of directors as long as it holds at least 10% of Arena's common shares. This summary is qualified in its entirety by reference to the full text of the Agreement, a copy of which has been filed by Arena on SEDAR (www.sedar.com). About Arena Minerals Inc. Arena owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation's Antofalla project. Arena has developed a proprietary brine processing technology using brine type reagents derived from the Antofalla project with the objective of producing more competitive battery grade lithium products. Arena also owns 80 percent of the Atacama Copper property, consisting of two projects covering approximately 7,000 hectares within the Antofagasta region of Chile. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile's premier copper mining district. The technical and scientific aspects of this news release have been reviewed and approved by Mr. William Randall, P.Geo, who is a qualified person pursuant to NI 43-101. As the President & CEO of the Company, Mr. Randall is not considered independent. To view our website, please visit www.arenaminerals.com. In addition to featuring information regarding the Company, its management, and projects, the site also contains the latest corporate news, a long form text explaining the unique business model of the Company (under the tab “the Company Explained”) and an email registration allowing subscribers to receive news and updates directly. For more information, contact William Randall, President and CEO, at +1-416-818-8711 or Simon Marcotte, Vice-President Corporate Development, at +1-647-801-7273 or smarcotte@arenaminerals.com. On behalf of the Board of Directors of: Arena Minerals Inc. William Randall, President and CEO Cautionary Note Regarding Accuracy and Forward-Looking Information This news release may contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company's properties, the anticipating timing with respect to private placement financings, the ability of the Company to complete private placement financings, results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project in Chile, the Antofalla, Hombre Muerto or Pocitos Projects in Argentina, and the Company's ability to obtain financing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Estimates underlying the results set out in this news release arise from work conducted by the previous owners and the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Arena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

    • Arena Minerals Announces First Tranche Closing of $2.8 Million Private Placement Led by Leading Lithium Producer Ganfeng Lithium Co.
      GlobeNewswire

      Arena Minerals Announces First Tranche Closing of $2.8 Million Private Placement Led by Leading Lithium Producer Ganfeng Lithium Co.

      THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES TORONTO, March 01, 2021 (GLOBE NEWSWIRE) -- Arena Minerals Inc. (“Arena” or the “Company”) (TSX-V: AN) announces that it has closed an initial tranche of its private placement announced on February 4, 2021. The Company has issued an aggregate of 30,763,720 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $1,538,186. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share of the Company at $0.15 for a period of 36 months from the date of issuance. Ganfeng Lithium Co. (“Ganfeng”; 1772.HK; OTCQX: GNENF) acquired 17,489,321 Units in the first tranche closing, and now holds approximately 9.9% of the Company’s issued and outstanding shares. Ganfeng will acquire an additional 22,036,279 Units in a second closing which is expected to take place in approximately two to three weeks. Following completion of the second closing, Ganfeng will have acquired 39,525,600 Units. Ganfeng has undertaken not to exercise any Warrants which would result in it holding 10% or more of the Common Shares until the TSXV has confirmed it has completed a routine personal information form review required in the case of new insiders, and has further undertaken not to exercise any Warrants which would result in it holding 20% or more of the Common Shares until receipt of shareholder approval for it becoming a control person of the Company, as such term is defined in the TSXV Corporate Finance Manual. The Common Shares and Warrants issued in the first tranche closing and any shares issued upon the exercise of the Warrants are subject to a four month resale hold period which expires on June 26, 2021. The proceeds from the placement will be used by Arena to develop its Antofalla lithium brine property in the puna region of Argentina, for potential acquisitions, and for general corporate purposes. About Arena Minerals Inc. Arena owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation’s Antofalla project. Arena has developed a proprietary brine processing technology using brine type reagents derived from the Antofalla project with the objective of producing more competitive battery grade lithium products. Arena also owns 80 percent of the Atacama Copper property, consisting of two projects covering approximately 7,000 hectares within the Antofagasta region of Chile. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile’s premier copper mining district. To view our website, please visit www.arenaminerals.com. In addition to featuring information regarding the Company, its management, and projects, the site also contains the latest corporate news, a long form text explaining the unique business model of the Company (under the tab “the Company Explained”) and an email registration allowing subscribers to receive news and updates directly. For more information, contact William Randall, President and CEO, at +1-416-818-8711 or Simon Marcotte, Vice-President Corporate Development, at +1-647-801-7273 or smarcotte@arenaminerals.com. On behalf of the Board of Directors of: Arena Minerals Inc. William Randall, President and CEO