Hi there,
First off - the entire lithium mining industry remains speculative. Although there is expected to be a surge in demand due to EVs, lithium prices are actually trading hear multi-year lows. Furthermore, most of the tsx-listed lithium companies are not yet in production stages and are mostly exploration and development companies. This means, they have no track record of successfully mining and have to prove they can do so economically.
If however, you are going to pick one, Lithium Americas is one of the best. First, it has two world class assets in Thacker Pass and Cauchari-Olaroz. Both are located in Argentina and both are expected to be low cost producers. Secondly, it is progressing well with 60% of construction completed at Cauchari-Olaroz. It aims to begin production in 2022 with operating costs below 3,600/t and it has offtake agreements for 90% of 40,000 tpa at market prices.
Thacker page is an earlier stage project and is only expected to receive full permitting to begin construction in 2021. That means we are a few years away from production.
One of the reasons why I prefer LAM to many other lithium plays is because it is closer to production than most. THere is however, still considerable risk involved here. Although it is progressing well, there is always the risk of setbacks during the construction of these mines. Delays are likely to impact the stock and require additional capital raises.
There E&P lithium companies are only for those with a higher risk tolerance. That being said, I'd consider LAM to be one of the better positioned to deliver over the long-term. It is also worth noting that the company's share price has shot up in a big way recently, so tread carefully here. This is a company that is not expected to generate revenue until 2022 and that is if everything goes according to plan.
Mat