Lithium Americas Corp (LAAC)

[overlordpeter]

Shares of Western Lithium USA Corp (TSE:WLC) appreciated hugely by the last call of the day, having gained 0.04 points or 7.55%. In a clear sign of heightened optimism, the price barely dropped below the opening level of 0.54 and shot up to 0.57 in intraday trade. The price closed near the days high at a level of 0.57 amid a volume of 181,579 shares. The counter had closed the previous session at 0.53. From a technical viewpoint, the 30-day moving average of 0.62 and the 60-day moving average of 0.70 are major levels to be watched. The stock price has a 52-week high of 1. All the trading currency is in CAD.





Western Lithium USA (TSX:WLC); current price: $0.55; year-to-date gain: 120.83 percent; 52-week high: $1.

The lithium space received more attention than usual in 2014 due to the news that Tesla Motors (NASDAQ:TSLA) will be building its lithium-ion battery gigafactory in Nevada. Western, whose Kings Valley lithium project is located in that state, no doubt owes some of its share price movement to that announcement.

That said, the company certainly reported other milestones last year. Indeed, its share price started to take off at the beginning of the year — long before Tesla revealed the gigafactory’s location — after Western initiated a lithium demonstration plant for Kings Valley and received environmental assessment approval for the project. Since then the company has gone on to start up the demonstration plant; it’s also signed a distribution agreement for US regional sales of its Hectatone(TM) products, and most recently said it’s ramping up production of those products.