Lithium Americas Corp.
5.80-0.21 (-3.49%)
Oct 28, 4:00:02 PM EDT · NYSE · LAC · USD
Key Stats
Market Cap
1.43BP/E (TTM)
-Basic EPS (TTM)
-0.25Dividend Yield
0%Recent Filings
8-K
ATM equity program launched
Lithium Americas Corp. launched an at-the-market equity program on October 8, 2025, allowing sales of up to US$250 million in common shares through TD Securities. The flexible offering, with commissions up to 3.0%, targets general corporate needs like funding a $120 million DOE loan reserve and project expenses. No shares are obligated for sale. Yet dilution looms if fully utilized.
8-K
DOE loan amendments finalized
Lithium Americas finalized amendments to its $2.23 billion DOE loan on October 7, 2025, deferring $184 million in debt service over the first five years while committing $120 million to reserve accounts within 12 months. In exchange, DOE receives warrants for 5% equity in the company and 5% economic interest in the Thacker Pass JV. Offtake tweaks with GM prioritize its needs yet allow capped third-party deals. This eases near-term cash strain but dilutes ownership.
8-K
DOE loan first draw advances
Lithium Americas, with GM, struck a non-binding deal with the DOE on September 30, 2025, to draw $435 million from the $2.26 billion loan for Thacker Pass. The DOE defers $182 million in debt service over five years for 5% equity warrants in the company and JV, while Lithium Americas posts $120 million to reserves. This unlocks funding for U.S. lithium production. Yet definitive agreements remain pending.
8-K
Thacker Pass construction advances
Lithium Americas reported Q2 2025 results, capitalizing $124.8 million on Thacker Pass construction, bringing totals to $574.1 million amid steady progress. With 300 workers on site, concrete foundations and roads advance, targeting steel installation in September and Phase 1 completion in late 2027. Cash stands at $509.1 million, bolstered by Orion's $220 million investment and an ATM program yielding $8.5 million in the quarter. Construction ramps up, yet supply chain risks linger.
10-Q
Q2 FY2025 results
Lithium Americas reported a Q2 net loss of $13.2M, up from $6.6M y/y, driven by $13.3M in transaction costs tied to the Orion investment and JV finalization, while a $6.5M gain on financial instruments offset some pressure. Operating expenses rose 22% y/y to $7.8M amid heightened administrative demands from domestic filer status and DOE obligations. Cash dipped to $509M from $594M at year-end, yet the $220M Orion close—split between $195M convertible notes and $25M production payments—plus GM's $100M JV contribution, fueled $354M in Thacker Pass capex, pushing cumulative construction spend to $574M. With engineering at 70% complete and site workforce scaling to 300, Phase 1 targets late 2027 completion. Solid liquidity persists, bolstered by the $2.26B DOE loan draw eyed for H2 2025. Still, escalating U.S. tariffs on steel imports to 50% threaten construction costs.
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