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

Source: Streetwise Reports   01/18/2021

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%).

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( Companies Mentioned: LAC:TSX; LAC:NYSE, )