Lithium Americas rises on General Motors deal for Thacker Pass lithium project
** U.S.-listed shares of miner Lithium Americas LAC.N up 22.8% at $3.28 premarket
** Co signs new investment agreement with General Motors GM.N to establish a joint venture (JV) for funding, developing, constructing and operating Thacker Pass in Humboldt County, Nevada
** Transaction will deliver $625 mln of cash and letters of credit from GM to Thacker Pass alongside the conditional commitment for a $2.3 bln U.S. Department of Energy (DOE) loan announced earlier this year
** JV transaction replaces the $330 mln common equity investment commitment from GM under its original investment agreement with the LAC announced in January 2023
** Under terms of the Investment Agreement, LAC will have a 62% interest and GM will acquire a 38% asset-level ownership stake in Thacker Pass
** Up till last close, LAC was down 58.28% YTD
Reporting by Pooja Menon in Bengaluru
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