Lithium US President and CEO Jonathan Evans discussed the increased investment in the company’s Thacker Pass Mine in Nevada on ‘The Bottom Line’.
Lithium America’s stock increased after a report on Wednesday that the Trump administration is pursuing a 10% stake in the mining firm as the White House seems to be important to interfere with industries considered important for national security.
A source familiar with the talks told the Fox Business that Lithium america The Trump has agreed to allow the administration to take a small stake of less than 10% in the company as it re -connects the $ 2.26 billion Energy Department (DOE) loan that returns the biden administration.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| LAC | Litam Argentina | 6.01 | +2.94 |
+95.77% |
| GM | General Motors cum. | 59.90 | +1.31 |
+2.24% |
General Motors (GM) According to the source, Lithium is a 38% stake in the US and negotiations continue as to whether the company will agree to the US government.
Exchange-traded funds tracking lithium were active on Wednesday.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| Shudder | Global X Lithium and Battery Tech ETF – USD dishes | 55.21 | +2.07 |
+3.90% |
| Illit | Ishares Trust Lithium Minors and Producers | 11.66 | +0.90 |
+8.33% |
| Litap | Sprot Funds Trust Lithium Minors ETF | 8.80 | +0.78 |
+9.76% |
| Limi | Themes ETF Trust lithium and battery metal m | 35.49 | +2.16 |
+6.47% |
| Ion | Proshares Trust S & P Global Core Battery Mate | 36.61 | +0.94 |
+2.62% |
Lithium America is developing Thacar pass in Humbolt County, North Nevada, the largest known measured Lithium Resource and Reserve Site in the world. The project is moving towards phase 1 of production, with a target of 40,000 tonnes per year of battery-quality lithium carbonate, such as electric vehicles (EV) used in batteries.
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Lithium America has planned to extract lithium in the Thakar pass project in Nevada. (Caroline Cole / Los Angeles Times / Getty Image)
Company Biden-era loan The inherent conditions that the firm would have to meet, but it was unable to satisfy those and inspired the interaction with DOE about the restructuring of the loan.
Under the proposed new terms of the loan, Lithium America wants to delay first payment on loan, in later years while DOE’s share will represent interest American taxpayer Providing a loan of $ 2.26 billion.
Lithium America issued a statement on Wednesday that discussed the status of negotiation with DOE and its joint venture partner GM, which was about the first draw of debt and related terms.
A mixture of soil from which lithium will be extracted, is conducted by a spokesperson of Lithium, USA. (Caroline Cole / Los Angeles Times / Getty Image)
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The company said, “The topics of these discussions include certain conditions to draw DOE loan and related loan nuances, as well as for the conditions before DOE, for the conditions of DOE, to the DOE’s agreed requests for the first draw and/or possible amendments for DOE loan and related transactions, the same, including”.
Lithium US statement concluded, “The company continues to work with DOE and GM about a mutually agreed resolution proposals.”
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Lithium is the joint venture partner of the US in the General Motors Project. (Paul Henesi/SOPA images/lightrocket via/getty images)
After this news, Lithium America Stock almost doubled According to data from Dow Jones Market, on Wednesday, April 2024, for the highest intraday price of $ 6.25 per share, the highest intraday value.
Thacar Pass is located in a remote area of Northern Nevada. (Caroline Cole/Los Angeles Times through Getty Image)
Stock has crossed some of the benefits that trading around $ 6.12 per share as noon, which will represent a 99% profit in Wednesday’s trading session. In the last five days, the stock is around 85% – although it is 115% in the previous month and 147% in the last year.
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Fox Business’ Edward Lawrence contributed to this report.
