By Stephen Nakrosis
Shares of Lithium Americas were trading higher in the after-hours market Monday, following news the company closed a $2.26 billion loan from the Department of Energy.
After the bell, the company's shares were up 13%, at $4.69. Volume in the late-trading session topped 1.5 million shares.
The stock closed the day's regular session with a 12% gain, rising to $4.14.
The loan, procured under the department's Advanced Technology Vehicles Manufacturing Loan Program, will help the company construct processing facilities in Humboldt Country, Nevada. The facilities, at Thacker pass, will sit astride what is currently the largest known measured and indicated lithium resource in North America, according to the company.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 28, 2024 18:46 ET (22:46 GMT)
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