Lithium Americas reports Q1 net loss $11.5M; Thacker Pass construction begins with first concrete in May 2025

LITHIUM AMERICAS CORP.

2025-Q1 EPS reported -$0.05

Net loss $11.5M ($0.05/share) vs $6.3M ($0.04/share) in Q1 2024; increase due to higher G&A and transaction costs.
Cash and restricted cash $446.9M at Mar 31, 2025; closed $250M Orion investment and GM FID ($100M from GM, $191.6M from LAC) post-quarter.
Major construction at Thacker Pass started; first permanent concrete placed early May 2025; completion of Phase 1 targeted late 2027.
Expect first draw on $2.26B DOE loan in Q3 2025; detailed engineering >60% complete, targeting >90% by year-end.
75% of project cost structure (labor, contractors, services) not expected to be directly affected by tariffs.

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