Lithium Americas Corp. held approximately $1.3 billion in total cash and restricted cash as of June 30, 2026, marking an increase from $905.6 million at the end of December 2025.

The liquidity position was bolstered by advances from a U.S. Department of Energy loan and proceeds from the company's at-the-market equity programs. Of the total cash and restricted cash reported at the close of the second quarter, $530.3 million was held at the level of the Thacker Pass joint venture in Humboldt County, Nevada.

Thacker Pass is owned through a joint venture between Lithium Americas, which holds a 62% interest, and General Motors Holdings LLC, holding a 38% interest. Phase 1 of the project is designed for a nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate.

As of June 30, 2026, cumulative construction capital and other project-related costs capitalized for Thacker Pass totaled $1.8 billion. During the second quarter, the company received its third advance of $342 million from the U.S. Department of Energy loan, bringing cumulative advances under the facility to $1.209 billion. Subsequent to the quarter end, the company entered into a securities purchase agreement with an affiliate of Yorkville Advisors Global for up to $175 million in subordinated convertible debentures, issuing $150 million at the initial closing.

“We are safely accelerating construction toward peak activity and peak labor later this year, with mechanical completion still targeted for late 2027. More than 1,600 workers are on site today, with over 2,000 expected before the year’s end. Thacker Pass is reaching new vertical heights as structural steel and concrete work at the processing plant advances through second-floor installations. Across the site, we are transitioning into piping and electrical trades and are receiving more than 60 truckloads of equipment and materials each day. All off-site power modifications are complete, and we remain on track for energization in Q4 2026.”

— Jonathan Evans, President and Chief Executive Officer

To account for recent inflationary pressures, tariffs estimated between $80 million and $100 million, and supply chain constraints, Lithium Americas has commenced a definitive capital estimate for Thacker Pass. Completion of this updated estimate is targeted by the end of the third quarter of 2026, while mechanical completion of Phase 1 remains targeted for late 2027.

Read the full announcement: Lithium Americas Reports Second Quarter 2026 Results