America’s Lithium. Lithium Americas' Jon Evans

Jonathan Evans, CEO of Lithium Americas, discusses the development of Thacker Pass — one of the most significant lithium projects under construction in North America. Howard Klein and Jonathan walk through the economics, financing, and execution strategy behind Thacker Pass, including the role of strategic partners such as General Motors and the U.S. Department of Energy loan facility supporting the project. Jonathan explains how Lithium Americas plans to scale production of battery-grade lithium carbonate, why the company chose carbonate rather than hydroxide as its initial product, and how the project’s process technology has been validated over multiple engineering and pilot stages. We also discuss the broader context shaping the lithium market today — including EV demand, grid-scale batteries, supply chain security, and the growing role of batteries in supporting power demand from data centers and AI infrastructure. Topics covered include: - The construction timeline and ramp-up plan for Thacker Pass - How the GM partnership and offtake agreement is structured - Details around the DOE loan and project financing - The economics of clay-based lithium versus hard-rock and brine deposits - Lithium pricing dynamics and how producers think about long-term contracts - Why battery demand is expanding beyond electric vehicles into grid storage - The geopolitical implications of the battery supply chain For investors and industry observers, Thacker Pass represents a case study in building large-scale critical mineral supply in the United States — from permitting and engineering to financing and construction. Chapters (00:00:00) Thacker Pass Overview (00:09:59) Evan's Career Path To CEO (00:13:06) Valuation, Capex, And Key Catalysts (00:23:31) Why Clay Should Work (00:30:36) Deposit Quality And Processing Advantages (00:39:27) De-Risking Construction And Execution (00:47:49) Batteries, AI, And Grid Stability (00:57:09) Lithium vs Rare Earth Leverage (00:59:51) Policy, Pricing, And Reserves (01:04:25) Expansion To Phase Two And Beyond Sponsors - Lithium Royalty Corp (TSX: LIRC) - diversified lithium royalty portfolio. (Website: https://www.lithiumroyaltycorp.com/ | X: https://x.com/Lithium_Royalty) - USCF Investments - commodity-focused ETFs (e.g., CPER copper, ZSB battery metals, USG gold, SDCI diversified commodities). (Website: https://www.uscfinvestments.com/ | X: https://x.com/USCFInvestments) Links - Strategic Lithium Reserve (SLR) White Paper: https://blog.rkequity.com/2025/12/08/strategic-lithium-reserve/ - Read Matt's research blog: https://blog.rkequity.com/ - Sign up for the Lithium-Ion Bull newsletter/Matt's Blogs: https://rkequity.com/ Have a question? Drop us an email: [email protected] Patreon: https://www.patreon.com/rockstockchannel Podcast: Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172 Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq X (Twitter): Howard: https://x.com/LithiumIonBull Matt: https://x.com/matt_fernley Rodney: https://x.com/RodneyHooper13 _________________________________________________ DISCLAIMER NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH Howard, Matt and Rodney are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity's website https://www.rkequity.com Intro and outro audio credit: Jamie Klein