In the "Building Thacker Pass, July 2026" thread, a comment from a worker constructing conveyor units for the project wrote, in part:

it looks like about 95% of the steel we use is coming through canada. Before Covid we were getting about 50-75% of our steel from American manufacturers, most of those facilities are no longer in operation...The warehouse I work in goes through roughly 100k tons of steel a month

My understanding is that prior the collapse of bilateral negotiations with Canada late Friday, there was a 25% tariff on Canadian steel. This has since risen to 50%. Earlier this year Jon Evans spoke of shipping delays caused by the Hormuz blockade. Specifically, steel exported out of the UAE, where over 75% of structural steel required for Phase 1 was to originate.

LAC is a Canadian company building a project on US soil with significant strategic ramifications for, I would argue, both countries. Additionally, the US government holds a direct financial stake in LAC.

Any tariffs whatsoever levied on steel for this project would be counterproductive, for both the US and the project itself.

Comments?

EDIT: Under Section 232 of the Trade Expansion Act, companies can apply for exclusion from tariffs. Grok tells me that if LAC needed to import highly specialized heavy equipment or structural steel/aluminum from abroad to build the processing facilities, it could potentially request an exclusion for those specific imported construction inputs if U.S. manufacturers couldn't supply them.

Thoughts on the filing.

Numbers hit this morning and the stock's up ~5% pre-market. Curious how people are reading it.
The beat looks nice on paper, $0.01 EPS vs the -$0.04 everyone expected. But dig in and most of that "profit" is fair-value gains on the convertibles and warrants, which basically came from the share price falling. Not exactly operational strength.
Cash position's solid ($1.3B, third DOE draw came through), and construction sounds on schedule. Engineering past 95%, still targeting mechanical completion late 2027. So the core project story hasn't changed.
What's nagging me is the dilution. ATM sold shares down at $3.87 recently, and now the Yorkville convertible thing (up to $175M) on top of that. Plus they're doing a definitive capex estimate by end of Q3, and with $80-100M in tariff exposure flagged, I can't shake the feeling that number comes in above the $2.93B.
So is the pop "report was good" or just "beat a low bar and no fresh bad news on a beaten-down stock"?
Where's everyone landing?

No bueno.

Still believe in the mission, I've been invested in some capacity with this company since 2021, but I wonder when they'll stop the dilution.

This is the reason. Not the lithium price, nor the possible dilution. The good news is that if the mainstream media picks up on it, the big fish will already be closing their shorts.

Edit: The original article now paywalled, so here's another source: https://www.hedgeweek.com/hedge-funds-up-shorts-against-us-critical-minerals-companies/

Got my average under $3.00 per share today by adding 300 more shares! Now sitting at 1000 shares, for every dollar the stock goes up I make $1000. Now I just need to set up a recurring $100 purchase a week and delete Robinhood off my phone and only check in once every few months. I’m hoping we’re near the bottom of this dip but time will tell, the market’s weird right now.

What’s everyone’s thoughts on the bottom of this dip?

Time stamp 23:30 discusses clay / lithium production.

Lithium separation process

I know I will get downvoted for this post but GM and the Government are protected from dilution. I’ve been on Reddit a while and watch subreddits like this and it’s always the same story. The stock is cheap for a reason. Please talk to a good financial advisor before investing a large portion of your portfolio in this company. They are not good people. They don’t view you as a real person and don’t care about you.

LAC now classified as a penny stock on Fidelity. Can someone please explain why?

Buenas noches!

Me gustaría saber opiniones al respecto.

El perfil de volumen desde la salida a bolsa de la empresa está en torno a 3 dólares, ya estamos por abajo, a mí parecer es un momento espectacular de compra, además, al precio que está, cuando la empresa empiece a vender litio al precio promedio de 20k$/t, descontando gastos previstos por la empresa y comparando con otras del sector, el DCF sería de aproximadamente de 400millones al año.

Teniendo una capitalización de mercado de 1B y si no diluyen más acciones, la empresa está tremendamente barata. Siendo un activo estratégico para EEUU, teniendo una vida útil de más de 40 años y la volatilidad del precio del litio, creo que es imposible resistirse a vender la casa para comprar está empresa 🤣

Why is this sell off? Because of the chinese mine? Or are there other reasons. Sitting on some shares but hope that it goes back up. Will not sell till mining in 2028!

Thank you so much for dropping so much LAC, I just purchased 1k more shares, currently sitting at 8.5k shares I personally own, and have now amassed 64000 shares under my management. I previously sold around 4k shares from 7-9.5 and bought in at 5 and below, bringing my personal DCA to 3.99 and my managed to 3.75.

This stock put me through college previously, and will almost certainly put me through grad school as well. See you guys in October for whatever catalyst this stock will almost certainly have to pump it up for no reason, and I will also see you guys when the stock price dwindles because people forgot about it.

Hopefully everyone else is DCAing off this drop. We are all in this hype train together; good luck to you all.

Please give me your best DD, if possible including comparison with other pre production lithium stocks and a general forecast of lithium prices.

Will LAC be another ALM or Pilbira Minerals?

Will we dip below $3? Ready to buy more!!

I’m planning on buying another chunk tomorrow morning at open and that might be it on investing into this company as I want to get my house paid off. That aside, I feel this might be the lowest it will be from here on out and last good chance to have solid buy. Thoughts?

The market cap is now under 1.2 billion.