Lithium Americas (LAC +11.2%) surges on news that China's Ganfeng Lithium will invest $160M in LAC's Cauchari-Olaroz lithium brine project in Argentina, raising its stake to 50% from 37.5% previously.
LAC says construction remains on track for first production at Cauchari-Olaroz in H2 2020, and updates its measured and Indicated mineral resource at the project to 17.9M metric tons of of lithium carbonate equivalent.
LAC also reports an adjusted Q4 loss of $9.6M, or $0.05/share, on revenue of $1.5M, while its full-year loss narrowed to $28.3M, or $0.32/share, on revenue of $4.8M.