I guess it is good news lol VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 28, 2016) - Lithium Americas Corp. ("Lithium Americas", or "LAC") (TSX:WLC)(OTCQX: WLCDF) (formerly Western Lithium USA Corporation) is pleased to announce a definitive agreement with Sociedad Qumica y Minera de Chile S.A. ("SQM") (NYSE:SQM)(SSE:SQM.B)(SSE:SQM.A) to enter into a 50/50 joint venture (the "Joint Venture") on the Cauchari-Olaroz lithium project in Jujuy, Argentina (the "Joint Venture Transaction"). The Joint Venture will go into effect following a capital contribution of US$25 million by SQM in exchange for a 50% ownership stake in Minera Exar S.A. ("Minera Exar"), a wholly owned subsidiary of LAC. SQM's contribution includes US$15 million to repay intercompany loans between Minera Exar and LAC; the remaining US$10 million will be allocated to project development. SQM and LAC intend to immediately advance a work and engineering plan, which contemplates completion of an updated definitive feasibility study based on an existing study for Cauchari that was completed by Minera Exar in 2012. The updated study will evaluate economic feasibility for a project with a nameplate production capacity of approximately 40,000 metric tons per year of lithium carbonate equivalent. Depending on the results of the study, the project may be executed in stages. Tom Hodgson, Chief Executive Officer of LAC, commented, "SQM is the world leader in lithium production with decades of development and operating experience and a strong team of technical and commercial talent. It also has a track record of success as a partner in many global joint ventures. One of the principal objectives of the Joint Venture is to leverage the technical experience of SQM to materially de-risk the development of Cauchari-Olaroz and to successfully advance the project to bring new supply to the market on a timely basis. Lithium plays an important strategic role in the energy revolution and it is critical that our industry respond by delivering more supply to meet increasing demand