Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) has reported its first-quarter 2025 results, showcasing significant financial and operational developments. The company's cash and restricted cash position as of March 31, 2025, amounted to approximately $446.9 million, reflecting a decrease from the $594.2 million reported as of December 31, 2024. Additionally, total assets decreased to $1,018.5 million as of March 31, 2025, from $1,044.9 million as of December 31, 2024.
In terms of operating expenses, the company reported an increase to $6.5 million for the three months ended March 31, 2025, compared to $5.8 million for the same period in 2024. The net loss for the first quarter of 2025 amounted to $11.5 million, up from $6.3 million in the first quarter of 2024. This resulted in a higher loss per share * basic at $0.05 for the first quarter of 2025, compared to $0.04 for the same period in 2024.
On the operational front, Lithium Americas Corp. highlighted the commencement of major construction at the Thacker Pass lithium project in Nevada. The company achieved a significant construction milestone in May 2025 with the initial placement of permanent concrete in the processing plant area. Additionally, the project is targeting the completion of phase 1 at Thacker Pass by late 2027.
Furthermore, the company closed a strategic investment of $250 million from fund entities managed by Orion Resource Partners LP for the development and construction of phase 1 of Thacker Pass. This investment, along with the final investment decision for construction of phase 1, involved contributions from General Motors Holdings LLC and Lithium Americas Corp. amounting to $100 million and $191.6 million in cash, respectively.
Lithium Americas Corp. also provided details of its workforce and supply chain developments, including the installation of the first modular housing units at the workforce hub and the fabrication of structural steel for the facilities at Thacker Pass.
As the company continues to advance phase 1 of Thacker Pass toward production, its focus remains on the responsible development of the project, aiming for a nominal design capacity of 40,000 t/y of battery-quality lithium carbonate.
For further details, the company's complete quarterly report on Form 10-Q for the three months ended March 31, 2025, is available on the company’s issuer profile on EDGAR at www.sec.gov, SEDAR+ at www.sedarplus.ca, and on the company's website at www.lithiumamericas.com. As a result of these announcements, the company's shares have moved 1.32% on the market, and are now trading at a price of $3.08. If you want to know more, read the company's complete 8-K report here.
