Lithium Americas Corp. (NYSE:LAC) shares are edging higher Thursday after the company reported third-quarter results before the market opened.
- Lithium Americas stock is testing key support levels. Why did LAC hit a new low?
Lithium Americas Posts Q3 Loss of $0.05/Shr, Net Income of $90.1M on Fair-Value Gains
Lithium Americas reported a third-quarter loss of 5 cents per share, compared with a loss of 83 cents a year earlier. The company reported net income of $90.1 million for the quarter, driven by fair-value gains on warrants and convertible notes. The company has no revenue, since its Thacker Pass project in Nevada is still under construction. Lithium Americas ended the quarter with about $1.3 billion in total cash and restricted cash.
Lithium Americas Draws $1.448B from DoE Loan
Lithium Americas has drawn $1.448 billion of its Department of Energy loan, including a fourth advance of $239 million in August.
Thacker Pass Capital Estimate Rises to $3.83B
In an update this week, Lithium Americas raised its capital estimate for Thacker Pass Phase 1 to $3.83 billion, including contingency, from $2.93 billion, reflecting advanced levels of construction, detailed engineering and procurement and external factors that arose after the April 2025 final investment decision. The company continues to target mechanical completion of Phase 1 in late 2027.
Lithium Americas Shares Trade Flat
LAC Price Action: At the time of publication, Lithium Americas shares are trading 0.54% higher at $1.65, according to data from Benzinga Pro.
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