Overview

• DOE and Lithium Americas agreed on changes to a roughly $2.3 billion federal loan for the Thacker Pass mine, a step intended to let the project move forward and supply battery-grade lithium.
• A White House official said any U.S. equity would be very small—under 10%—and designed to support the company’s liquidity rather than to take control.
• Lithium Americas said it remains in discussions with the Energy Department and General Motors on loan conditions with no definitive agreement, as GM maintains confidence after committing more than $900 million and securing long-term offtake rights.
• Shares of Lithium Americas nearly doubled midweek, touching new highs above $7, before pulling back Friday as traders took profits following the reports of potential federal equity.
• Scotiabank cautioned that a government stake structured via warrants could dilute existing shareholders and argued recent pricing implies lithium assumptions above most forecasts.