AI-powered contentSome parts of this article are powered by AI.
Share this article
Gotrade News - Lithium Americas (LAC) reported third-quarter 2026 results on Thursday, November 12, 2026, saying it held approximately $1.3 billion in total cash and restricted cash as of September 30, 2026, according to the company's official release, as construction continues at its Thacker Pass lithium project in Nevada.
Regular-session close on November 12, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com.
Lithium Americas Earnings Details
The release accompanies the company's Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2026. The company said its total cash and restricted cash included $359.5 million at the Thacker Pass joint venture level. On August 21, 2026, it received a fourth advance of $239.0 million on its U.S. Department of Energy (DOE) loan, bringing cumulative advances to $1.448 billion.
On August 13, 2026, the company issued $150 million of subordinated convertible debentures to an affiliate of Yorkville Advisors Global, LP, under an agreement for up to $175 million. During Q3 2026, Yorkville converted $40.5 million of principal and accrued interest, and the company issued 14.3 million common shares to it. The company also sold 1.1 million shares under its at-the-market equity program for net proceeds of $4.1 million.
President and Chief Executive Officer Jonathan Evans said Thacker Pass "is on track to deliver America's largest fully integrated source of domestic battery-quality lithium carbonate."
Why It Matters for LAC
The release restates the definitive capital cost estimate the company announced on November 11, 2026: $3.83 billion for Thacker Pass Phase 1, including contingency, up from the prior estimate of $2.93 billion. The company attributed the increase to tariffs and logistics, craft labor wage rates, labor install rates, contractor staffing levels and wage rates, and approximately $150 million of additional contingency.
The company estimates the resulting incremental funding requirement at approximately $995 million. It said it anticipates meeting it through $650 million in company contributions at the Thacker Pass joint venture level and, as and when required, $315 million credited to certain DOE loan reserve accounts. It said these contributions, together with $120 million of reserve account funding it contributed on October 7, 2026, will increase its ownership percentage in the joint venture, and that it is working with the DOE and General Motors to finalize the related implications. Phase 1 continues to target mechanical completion in late 2027, with ramp-up through 2028, according to the company.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
This article was written with the help of AI and checked by the Gotrade team before publishing.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
