Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

TICKERS: LAC

Lithium Americas' Shares Charge 18% Higher after Firm Receives ROD for Nevada Lithium Project

Share on Stocktwits

Source:

Shares of Lithium Americas Corp. established a new 52-week high after the firm reported it received a Record of Decision from the U.S. Bureau of Land Management for its Thacker Pass Lithium Project.

Resource development company Lithium Americas Corp. (LAC:TSX; LAC:NYSE) announced that "the United States Bureau of Land Management (BLM) has issued the Record of Decision (ROD) for the Thacker Pass lithium project following completion of the National Environmental Policy Act (NEPA) process."

The firm stated that the Thacker Pass Project is located in Humboldt County, Nevada, and is owned 100% by Lithium Nevada Corp., a wholly owned U.S. incorporated subsidiary of Lithium Americas. The Thacker Pass Project is a prefeasibility stage open-pit lithium project situated near the southern end of the McDermitt Caldera Margin and is located about 100 km northwest of Winnemucca, Nev. The firm noted on its website that in 2018, a prefeasibility study (PFS) for a two phase project was released that outlined production capacity designed to reach 60,000 tpa of battery-grade lithium carbonate (Li2CO3), mineral reserves of 3.1 million tonnes of lithium carbonate equivalent (LCE) at 3,283 ppm Li and a 46 year mine life.

Lithium Americas Corp.' President and CEO Jon Evans remarked, "The issuance of the ROD is the culmination of over 10 years of hard work from the Thacker Pass team, as well as the BLM and other federal, state and local agencies, all of whom worked tirelessly to ensure their respective commitments to environmental stewardship and community engagement...With the federal permitting process complete, our focus is on advancing the financing process including discussions with potential strategic partners."

The company stated that it believes that receiving the ROD represents a very significant milestone in the Thacker Pass Project's permitting process and ongoing development efforts. The firm mentioned that later this year it expects to obtain the results for key state permits and water rights transfers applications which it stated it has already filed.

Lithium Americas Corp. is a lithium-focused development-stage resource company headquartered in Vancouver, Canada. The firm is presently developing two large lithium projects, the Cauchari-Olaroz project situated in the Jujuy province of Argentina and the Thacker Pass lithium project in northwestern Nevada.

Lithium Americas Corp. has a market capitalization of around CA$2.75 billion with approximately 105.4 million shares outstanding. LAC.TO shares opened 7.5% higher today at CA$28.06 (+CA$1.95, +7.47%) over Friday's CA$26.11 closing price and reached a new 52-week high this morning of CA$31.81. The stock has traded today between CA$28.06 and CA$31.81 per share and is currently trading at CA$30.81 (+CA$4.70, +18.00%).

[NLINSERT]

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Lithium Americas, a company mentioned in this article.





Want to read more about Cobalt / Lithium / Manganese investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe