The last time we mentioned Lithium Americas (LAC), we mentioned:

“Lithium stocks could be one of the biggest stories of the year. For one, demand is set to accelerate on the heels of the electric vehicle boom—which shows no signs of slowing.  In fact, according to USA Today, electric vehicles made up about 5% of new auto sales last year.  For 2023, analysts at S&P Global Mobility project for EVs to make up about 8% of the market, 15% by 2025, and 37% by the time 2030 rolls around.  Better, General Motors said it was investing $650 million in Lithium Americas to help develop its lithium mine in Nevada.”

Today, shares of LAC gapped to an intraday high of $26.85.

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While that gain is nothing to write home about just yet, give it time. 

The company just announced it received a favorable ruling from the US District Court, District of Nevada for the issuance of the Record of Decision relating to the Company’s 100%-owned Thacker Pass project located in Humboldt Country, Nevada.

The favorable ruling by the Federal Court confirms the permitting process for Thacker Pass was conducted thoroughly and responsibly, and results in there being no impediment to commencing construction. The Federal Court ordered the BLM to consider one issue under the mining law relating to the area designated for waste storage and tailings and did not impose any restrictions expected to impact the construction timeline.

Sincerely,

Ian Cooper