LITHIUM AMERICAS CORP. LAC
Lithium Americas Corp. (the "Company" or "LAC") is a Canadian-based resource and materials company focused on developing, building and operating significant lithium deposits and chemical processing facilities. The Company's flagship asset is Thacker Pass, a sedimentary-based lithium deposit located in the McDermitt Caldera in Humboldt County, in northern Nevada ("Thacker Pass" or the "Project"). Thacker Pass is owned by Lithium Nevada LLC ("LN"), a wholly owned subsidiary of Lithium Nevada Ventures LLC ("Lithium Nevada Ventures"), the joint venture ("JV") between General Motors Holdings LLC ("GM") and the Company (together, the "JV Partners"). The Company currently owns a 62% interest in Thacker Pass and manages the Project, and GM owns a 38% interest in Thacker Pass. The terms "LN" and "LAC" are used throughout the report to denote the owners of the Project.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| SG&A | $52.8M | $28.1M | $24.6M | — | — | — |
| Total operating expenses | $52.8M | $28.3M | $28.8M | — | — | — |
| Operating income | — | — | $23.7M | -$6.9M | -$2.7M | — |
| Interest expense | — | $0 | $377.0K | — | — | — |
| Pre-tax income | -$86.3M | -$42.6M | -$5.1M | — | — | — |
| Income tax | $0 | $0 | $0 | — | — | — |
| Net income | -$86.3M | -$42.6M | -$5.1M | -$67.8M | -$47.0M | — |
| EPS, basic | -0.50 | -0.21 | -0.03 | — | — | — |
| EPS, diluted | -0.50 | -0.21 | -0.03 | — | — | — |
| Shares, diluted (wtd. avg.) | $243.7M | $200.8M | $160.4M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $568.2M | $593.9M | $195.8M | $636.0K | — | — |
| Receivables | $4.1M | $557.0K | $4.5M | — | — | — |
| Total current assets | $911.6M | $602.5M | $205.9M | — | — | — |
| Property, plant and equipment | $1.34B | $398.9M | $200.6M | — | — | — |
| Total assets | $2.58B | $1.04B | $436.9M | $27.8M | $10.9M | — |
| Accounts payable | $87.8M | $700.0K | $4.6M | — | — | — |
| Total current liabilities | $176.8M | $58.3M | $24.6M | — | — | — |
| Total liabilities | $992.4M | $99.6M | $52.0M | — | — | — |
| Retained earnings | -$221.1M | -$55.7M | -$13.2M | — | — | — |
| Total equity | $1.06B | $635.0M | $384.9M | -$55.8M | -$41.7M | -$12.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$61.2M | -$13.0M | -$39.5M | — | — | — |
| Depreciation and amortisation | $46.0K | $46.0K | $135.0K | — | — | — |
| Stock-based compensation | $6.2M | $5.2M | $5.6M | — | — | — |
| Capital expenditure | $765.0M | $177.7M | $188.9M | — | — | — |
| Investing cash flow | -$765.0M | -$177.7M | -$188.9M | — | — | — |
| Financing cash flow | $1.14B | $589.1M | $423.6M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-193861.
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