Lithium Americas Corp. (NYSE:LAC) Q1 2024 Earnings Conference Call May 14, 2024 10:00 AM ET

Company Participants

Kelly O’Brien - Vice President, Investor Relations and ESG
Sam Pigott - President and CEO, Lithium Argentina
Alex Shulga - Vice President and CFO

Conference Call Participants

Apurva Kilambi - Scotiabank
David Deckelbaum - TD Cowen
Joel Jackson - BMO Capital Markets
Katie Lachapelle - Canaccord Genuity
Noel Parks - Tuohy Brothers
Mac Whale - Cormark Securities

Operator

Thank you for standing by. My name is Kathleen, and I will be your conference operator today. At this time, I would like to welcome everyone to the First Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. I would now like to turn the call over to Kelly O’Brien, Vice President of Investor Relations and ESG. Please go ahead.

Kelly O’Brien

Thank you, Kathleen. I want to welcome everyone to our earnings conference call this morning. Joining me on the call today to discuss the first quarter results is Sam Pigott, President and CEO of Lithium Argentina; Alex Shulga, Vice President and CFO, will also be joining during the Q&A session. Our earnings were released after the market closed yesterday and you’ll find the press release, the MD&A and the financial statements posted on our website.

I remind you that some of the statements made during this call, including any production guidelines, expected company performance, Ganfeng, strategic investment in Pastos Grandes, the timing of our projects and market conditions, may be considered forward-looking statements. Please note the cautionary language about forward-looking statements in our MD&A and news release that was filed last night.

I will now turn the call over to Sam.

Sam Pigott

Thank you, Kelly, and a warm welcome to everyone joining us today. It’s been six weeks since our last earnings conference call and I’m delighted to have this opportunity to provide you all with an update on our progress.

As we move forward into 2024, our focus remains steadfast on several key priorities. Firstly, supporting the successful ramp-up of Caucharí-Olaroz. Secondly, ensuring the company remains sufficiently capitalized through the ramp-up and to support our future growth plans. And thirdly, advancing the regional development plan for Pastos Grandes Basins with Ganfeng.

In the first quarter of 2024, the Caucharí project achieved a production milestone of 4,500 tons of lithium carbonate, a 20% increase compared to the fourth quarter of 2023. As production increases and different components of the plant have been pushed to higher levels, the operation has encountered increased variability consistent with a ramp-up. I’m very proud of our team at site, including some of Ganfeng’s most senior and experienced individuals and their ability to address any challenges that arise. I have confidence in their technical expertise, commitment to the project and focus on the goal of successfully completing this ramp-up.