Lithium Americas Shares Down 11%; Court Hearing Scheduled for Thacker Pass Appeal

By Kathryn Hardison

Shares of Lithium Americas Corp. fell 11% to $24.25 on Friday after the company said a hearing with a federal court has been scheduled as it attempts to move forward with a lithium chemicals project in the U.S.

The company is attempting to appeal a record of decision, and an oral hearing was set for Jan. 5 with the U.S. District Court for the District of Nevada, Lithium Americas said. The project, called Thacker Pass, is planned in Humboldt County, Nevada.

Since last year, the company said that all four injunction requests related to its plan to begin cultural assessment of the site were denied by the court, and a subsequent motion to reconsider was also denied.

Until a decision has been made, Lithium Americas Chief Executive Jonathan Evans said that the company is moving forward with tasks such as the final selection of an engineering, procurement and construction management contractor, evaluating partnership and supply agreements and making progress on its loan application with the U.S. Department of Energy.

Shares are down 10% for the year.

Write to Kathryn Hardison at [e-mail]

(END) Dow Jones Newswires

October 07, 2022 12:45 ET (16:45 GMT)

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