Thacker Pass Development Risk: The successful development, construction, and ramp-up of the Thacker Pass project is critical to LAC's future operations and financial success, and any delays, cost overruns, or operational challenges could materially impact the company.

Lithium Price Volatility Risk: Fluctuations in global lithium commodity prices, driven by supply and demand dynamics in the electric vehicle and energy storage markets, could significantly affect LAC's revenues and profitability.

Permitting and Regulatory Risk: Obtaining and maintaining necessary environmental, social, and operating permits for its projects, particularly Thacker Pass, can be subject to complex legal challenges, stringent new regulations, or lengthy review processes.