LITHIUM AMERICAS CORP.
For the period ended Jun 30, 2025. Filed Aug 14, 2025.
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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.
Jun 30, 2025 · Filed Aug 14, 2025
Contents
CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Cash (Note 2) | $508,852 | $593,885 |
| Receivables | 577 | 557 |
| Prepaids and deposits | 2,286 | 7,733 |
| Total current assets | 511,715 | 602,175 |
| Investments measured at fair value | 1,951 | 4,152 |
| Restricted cash | 288 | 288 |
| Mineral properties, plant and equipment, net (Note 3) | 810,086 | 398,948 |
| Deferred financing costs | 12,066 | 11,529 |
| Other assets | 2,981 | 27,852 |
| Total assets 1 | $1,339,087 | $1,044,944 |
| LIABILITIES | ||
| Accounts payable | $5,952 | $700 |
| Accrued liabilities (Note 4) | 40,165 | 51,764 |
| Current portion of lease liabilities (Note 5) | 5,685 | 5,816 |
| Total current liabilities | 51,802 | 58,280 |
| Convertible debt and conversion feature (Note 7) | 186,901 | - |
| Royalty and production payment arrangements (Note 7) | 46,664 | 20,715 |
| Lease liabilities (Note 5) | 14,097 | 16,821 |
| Reclamation liabilities | 288 | 288 |
| Other liabilities | 3,500 | 3,500 |
| Total liabilities 1 | 303,252 | 99,604 |
| Commitments (Note 14) | ||
| Non-controlling interest (Note 6) | 419,514 | 310,336 |
| STOCKHOLDERS’ EQUITY | ||
| Common stock, no par value, unlimited authorized; 223,327 and 218,465 shares issued and outstanding, respectively (Note 8) | 670,636 | 655,068 |
| Additional paid-in capital | 24,516 | 35,618 |
| Accumulated deficit | (78,831) | (55,682) |
| Total stockholders’ equity | 616,321 | 635,004 |
| Total liabilities, non-controlling interest and stockholders’ equity | $1,339,087 | $1,044,944 |
Subsequent event (Note 15)
1 The Company is the primary beneficiary in a variable interest entity (“VIE”). See Note 6 for further information related to the Company’s VIE. The consolidated assets as of June 30, 2025 and December 31, 2024, include $1,197,306 and $888,486, respectively, of assets for the VIE that can only be used to settle the obligations of the VIE. As of June 30, 2025 and December 31, 2024, the assets include, respectively: Cash of $387,029 and $452,293; Receivables of $2 and $16; Prepaids and deposits of $2,155 and $6,091; Mineral properties, plant and equipment of $805,384 and $402,540; and, Other assets, non-current of $2,736 and $27,546. The VIE’s liabilities, as of June 30, 2025 and December 31, 2024, of $93,322 and $71,813, respectively, include $67,058 and $50,865 of liabilities whose creditors have no recourse to the Company. As of June 30, 2025 and December 31, 2024, the liabilities include, respectively: Accounts Payable of $5,684 and $684; Accrued liabilitiesof $38,067 and $24,083; Lease liabilities, current of $5,486 and $5,632; Lease liabilities, non-current of $14,033 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)
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