Lithium Americas (LAC) Soars 18.8% on Higher Lithium Prices

Core Insights - Lithium Americas Corp. (NYSE:LAC) experienced a significant increase in stock price, surging by 18.78% week-on-week, driven by rising lithium prices [1][3] - The company's Thacker Pass mine, one of the largest lithium resources in the US, has received support from the US government, which acquired a 5% stake in the company and another 5% in the mine [2] Financial Performance - In the third quarter, Lithium Americas reported a widened net loss of $199.16 million, a staggering increase of 2,243% from $8.5 million in the same period last year, primarily due to higher losses on financial instruments [3] - Operating expenses rose by 58% to $9.7 million from $6.15 million year-on-year, attributed to increased exploration expenditures [4] Business Outlook - Despite the financial losses, the company remains optimistic about its operations, stating it is "full steam ahead on construction" for the Thacker Pass mine project [4] - The workforce at the site has grown to approximately 700 workers, with over 80% of detailed engineering completed, indicating tangible progress in construction activities [5]