3 results
20-F
2023 FY
tLAC
Lithium Americas Corp.
18 Mar 24
Annual report (foreign)
7:15am
December 31, | December 31, | December 31, | ||||||||||||
Note | 2023 | 2022 | 2021 | |||||||||||
$ | $ | $ | ||||||||||||
CURRENT ASSETS | ||||||||||||||
Cash and cash equivalents | 5 | 195,516 | 636 | 933 | ||||||||||
Receivables, prepaids and deposits | 6 | 10,367 | 1,301 | 878 | ||||||||||
205,883 | 1,937 | 1,811 | ||||||||||||
NON-CURRENT ASSETS | ||||||||||||||
Investment in Green Technology Metals | 7 | 2,580 | 7,451 | - | ||||||||||
Investment in Ascend Elements | 8 | 8,582 | 5,000 | - | ||||||||||
Restricted cash | 288 | - | - | |||||||||||
Property, plant and equipment | 9 | 206,082 | 3,936 | 3,294 | ||||||||||
Other assets | 9 | 15,315 | - | - | ||||||||||
Exploration and evaluation assets | 10 | 770 | 9,514 | 5,747 | ||||||||||
233,617 | 25,901 | 9,041 | ||||||||||||
TOTAL ASSETS | 439,500 | 27,838 | 10,852 | |||||||||||
CURRENT LIABILITIES | ||||||||||||||
Accounts payable and accrued liabilities | 23,361 | 9,913 | 4,214 | |||||||||||
Current portion of long-term liabilities | 854 | 724 | 303 | |||||||||||
GM transaction derivative liability | 11 | 348 | - | - | ||||||||||
Loan from former parent | 2 | - | 43,572 | - | ||||||||||
24,563 | 54,209 | 4,517 | ||||||||||||
LONG-TERM LIABILITIES | ||||||||||||||
Loan from former parent | - | - | 40,000 | |||||||||||
Other liabilities | 12 | 6,613 | 7,568 | 7,695 | ||||||||||
Decommissioning provision | 862 | 478 | 326 | |||||||||||
7,475 | 8,046 | 48,021 | ||||||||||||
TOTAL LIABILITIES | 32,038 | 62,255 | 52,538 | |||||||||||
SHAREHOLDERS’ EQUITY | ||||||||||||||
Share capital | 2 | 656,802 | - | - | ||||||||||
Contributed surplus and net former parent investment | 15,020 | 226,009 | 150,942 | |||||||||||
Deficit | (264,360) | (260,426) | (192,628) | |||||||||||
TOTAL SHAREHOLDERS’ EQUITY | 407,462 | (34,417) | (41,686) | |||||||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 439,500 | 27,838 | 10,852 |
20-F
2023 FY
tLAC
Lithium Americas Corp.
18 Mar 24
Annual report (foreign)
7:15am
December 31, 2023 | December 31, 2022 | December 31, 2021 | ||||||||||
$ | $ | $ | ||||||||||
Deferred tax assets: | ||||||||||||
Tax loss carryforwards | 47,537 | 40,196 | 30,695 | |||||||||
Exploration and evaluation assets | 3,507 | 3,602 | 1,173 | |||||||||
Property, plant and equipment (including right-of-use assets) | - | 536 | - | |||||||||
Investment in Green Technology Metals | 1,004 | 346 | - | |||||||||
Investment in Ascend Elements | - | - | - | |||||||||
Other | 1,724 | 100 | 109 | |||||||||
Deferred tax assets | 53,772 | 44,780 | 31,977 | |||||||||
Deferred tax liabilities: | ||||||||||||
Capital assets | (163) | - | - | |||||||||
Thacker Pass assets | (4,631) | - | - | |||||||||
Investment in Ascend Elements | (484) | - | - | |||||||||
Equity compensation | (5,722) | (4,845) | - | |||||||||
Deferred tax liabilities | (11,000) | (4,845) | - | |||||||||
Unrecognized deferred tax assets | 42,772 | 39,935 | 31,977 |
20-F
2023 FY
tLAC
Lithium Americas Corp.
18 Mar 24
Annual report (foreign)
7:15am
Note | 2023 | 2022 | 2021 | |||||||||||||
$ | $ | $ | ||||||||||||||
OPERATING ACTIVITIES | ||||||||||||||||
Loss from continuing operations | (3,934) | (67,798) | (47,148) | |||||||||||||
Income from discontinued operation | - | - | 122 | |||||||||||||
Net loss | (3,934) | (67,798) | (47,026) | |||||||||||||
Items not affecting cash and other items: | ||||||||||||||||
Equity compensation | 13 | 5,581 | 2,355 | 1,797 | ||||||||||||
Depreciation | 196 | 1,520 | 658 | |||||||||||||
(Gain)/loss on financial instruments measured at fair value | 7,8,11 | (31,557) | 2,564 | - | ||||||||||||
Other items | 83 | 516 | 119 | |||||||||||||
Changes in working capital items: | ||||||||||||||||
Increase in receivables, prepaids and deposits | (4,907) | (423) | (525) | |||||||||||||
Increase/(decrease) in accounts payable, accrued liabilities and other liabilities | (3,424) | 9,271 | 2,551 | |||||||||||||
Cash used by discontinued operations | - | - | (511) | |||||||||||||
Net cash used in operating activities | (37,962) | (51,995) | (42,937) | |||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||
Release on restricted cash | - | - | 150 | |||||||||||||
Additions to property, plant and equipment | 9 | (189,481) | (1,505) | (529) | ||||||||||||
Additions to exploration and evaluation assets | 10 | (347) | (4,120) | (1,405) | ||||||||||||
Restricted cash invested in GIC | (288) | |||||||||||||||
Investment in Green Technology Metals | 7 | - | (10,015) | - | ||||||||||||
Investment in Ascend Elements | 8 | - | (5,000) | - | ||||||||||||
Proceeds from sale of assets held for sale (discontinued operations) | 26 | - | - | 4,034 | ||||||||||||
Net cash (used)/provided in investing activities | (190,116) | (20,640) | 2,250 | |||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||
Net former parent investment - capital contributions | 45,501 | 72,712 | 20,115 | |||||||||||||
Gross proceeds from GM transaction | 11 | 320,148 | - | - | ||||||||||||
Cash received pursuant to the Arrangement | 2 | 75,000 | - | - | ||||||||||||
Payment of expenses related to the GM transaction | 11 | (16,977) | - | - | ||||||||||||
Loan from former parent | - | - | 23,512 | |||||||||||||
Payment of interest on loan from former parent | - | - | (3,017) | |||||||||||||
Lease payments | (714) | (374) | (263) | |||||||||||||
Other | - | - | 761 | |||||||||||||
Net cash provided by financing activities | 422,958 | 72,338 | 41,108 | |||||||||||||
CHANGE IN CASH AND CASH EQUIVALENTS | 194,880 | (297) | 421 | |||||||||||||
CASH AND CASH EQUIVALENTS - BEGINNING OF THE YEAR | 636 | 933 | 512 | |||||||||||||
CASH AND CASH EQUIVALENTS - END OF THE YEAR | 195,516 | 636 | 933 |
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