LITHIUM AMERICAS CORP.
For the period ended Mar 31, 2025. Filed May 15, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
Contents
CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Cash (Note 2) | $446,620 | $593,885 |
| Receivables | 620 | 557 |
| Prepaids and deposits | 2,080 | 7,733 |
| Total current assets | 449,320 | 602,175 |
| Investments measured at fair value (Note 3) | 2,196 | 4,152 |
| Restricted cash | 288 | 288 |
| Mineral properties, plant and equipment, net (Note 4) | 475,778 | 398,948 |
| Deferred financing costs | 11,529 | 11,529 |
| Other assets (Note 5) | 79,387 | 27,852 |
| Total assets 1 | $1,018,498 | $1,044,944 |
| LIABILITIES | ||
| Accounts payable | $3,050 | $700 |
| Accrued liabilities (Note 6) | 34,629 | 51,764 |
| Current portion of lease liabilities (Note 7) | 5,739 | 5,816 |
| Total current liabilities | 43,418 | 58,280 |
| Royalty and production payment arrangements | 20,825 | 20,715 |
| Lease liabilities (Note 7) | 15,455 | 16,821 |
| Reclamation liabilities | 288 | 288 |
| Other liabilities | 3,500 | 3,500 |
| Total liabilities 1 | 83,486 | 99,604 |
| Commitments (Note 14) | ||
| Non-controlling interest (Note 8) | 309,512 | 310,336 |
| STOCKHOLDERS’ EQUITY | ||
| Common stock, no par value, unlimited authorized; 218,686 and 214,465 shares issued and outstanding, respectively | 657,324 | 655,068 |
| Additional paid-in capital | 34,560 | 35,618 |
| Accumulated deficit | (66,384) | (55,682) |
| Total stockholders’ equity | 625,500 | 635,004 |
| Total liabilities, non-controlling interest and stockholders’ equity | $1,018,498 | $1,044,944 |
Subsequent events (Note 15)
1 The Company is the primary beneficiary in a variable interest entity (“VIE”). See Note 8 for further information related to the Company’s VIE. The consolidated assets as of March 31, 2025 and December 31, 2024, include $892,116 and $888,486, respectively, of assets for the VIE that can only be used to settle the obligations of the VIE. As of March 31, 2025 and December 31, 2024, the assets include, respectively: Cash of $332,730 and $452,293; Receivables of $11 and $16; Prepaids and deposits of $881 and $6,091; Mineral properties, plant and equipment of $479,368 and $402,540; and, Other assets, non-current of $79,126 and $27,546. The consolidated liabilities as of March 31, 2025 and December 31, 2024, of $77,611 and $71,813, respectively, include $54,641 and $50,865 of liabilities of the VIE whose creditors have no recourse to the Company. As of March 31, 2025 and December 31, 2024, the liabilities include, respectively: Accounts Payable of $2,975 and $684; Accrued liabilitiesof $26,963 and $24,083; Lease liabilities, current of $5,561 and $5,632; Lease liabilities, non-current of $15,354 and $16,678; Reclamation liabilities of $288 and $288; and, Other liabilities, non-current of $3,500 and $3,500.
(Expressed in thousands of U.S. dollars, except for per share amounts and shares in thousands)
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.