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Lithium Americas is a pure-play lithium producer. The firm owns 62% of one resource, Thacker Pass, that is located in northwest Nevada, with automaker General Motors owning the remaining 38%. Thacker Pass recently began construction and is expected to begin production in the mid- to late 2020s. Thacker Pass is one of the largest known lithium resources in the world. The project would be the first clay-based asset to enter production, and we estimate it will be in bottom half of the global cost curve. Management plans to develop Thacker Pass into a fully integrated lithium production site, with downstream refining capabilities on site, and will sell into the lithium chemical market.
Genco Shipping & Trading Ltd is an international shipping company specializing in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. It is involved in the ocean transportation of drybulk cargoes. The company operates in one segment, the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels. It generates revenue through time charter agreements, spot market voyage charters, pool agreements and spot market-related time charters.