Lithium Americas (LAC) 6-K7 Nov 24Current report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2024
Document Information [Line Items]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Entity Registrant Name	Lithium Americas Corp.
Entity Central Index Key	0001966983
Current Fiscal Year End Date	--12-31
Entity File Number	001-41788
Entity Address, Country	CA
Entity Address, Address Line One	3260 - 666 Burrard Street
Entity Address City Or Town	Vancouver
Entity Address State Or Province	BC
Entity Address Postal Zip Code	V6C 2X8

Consolidated Statements of Fina

Consolidated Statements of Financial Position $ in Thousands, $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
CURRENT ASSETS
Cash and cash equivalents	$ 341,163	$ 195,516
Receivables, prepaids and deposits	7,858	10,367
Total current assets	349,021	205,883
NON-CURRENT ASSETS
Investment in Green Technology Metals	829	2,580
Investment in Ascend Elements	4,445	8,582
Restricted cash	288	288
Property, plant and equipment	330,552	206,082
Other assets	6,860	15,315
Exploration and evaluation assets	972	770
Total non-current assets	343,946	233,617
TOTAL ASSETS	692,967	439,500
CURRENT LIABILITIES
Accounts payable and accrued liabilities	23,703	23,361
Current Portion of Leases	1,241	854
GM transaction derivative liability	210	348
Total current liabilities	25,154	24,563
LONG-TERM LIABILITIES
Leases and other liabilities	6,566	6,613
Decommissioning provision	2,567	862
Total Long-term liabilities	9,133	7,475
TOTAL LIABILITIES	34,287	32,038
SHAREHOLDERS' EQUITY
Share capital	927,650	656,802
Contributed surplus and net former parent investment	15,738	15,020
Deficit	(284,708)	(264,360)
TOTAL SHAREHOLDERS' EQUITY	658,680	407,462
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 692,967	$ 439,500

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of comprehensive income [abstract]
Exploration and evaluation expenditures	$ 0	$ 0	$ 0	$ (3,764,000)
General and administrative expenses	(4,392,000)	(2,667,000)	(13,486,000)	(8,025,000)
Equity compensation	(1,289,000)	(520,000)	(3,884,000)	(2,077,000)
Total expense	(5,681,000)	(3,187,000)	(17,370,000)	(13,866,000)
Transaction costs	(6,061,000)	(2,529,000)	(8,242,000)	(9,359,000)
Gain (loss) on financial instruments measured at fair value	(1,266,000)	5,586,000	(5,750,000)	32,545,000
Finance costs	(10,000)	0	(17,000)	(335,000)
Finance and other income	4,955,000	(70,000)	11,031,000	(18,000)
Total operating income	(2,382,000)	2,987,000	(2,978,000)	22,833,000
NET INCOME/(LOSS)	(8,063,000)	(200,000)	(20,348,000)	8,967,000
TOTAL COMPREHENSIVE INCOME/(LOSS)	$ (8,063,000)	$ (200,000)	$ (20,348,000)	$ 8,967,000
BASIC EARNINGS/(LOSS) PER SHARE	$ (0.04)	$ 0	$ (0.1)	$ 0.06
DILUTED EARNINGS/(LOSS) PER SHARE	$ (0.04)	$ 0	$ (0.1)	$ 0.06
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	218,039	160,048	194,898	160,048

Condensed Consolidated Interim

Condensed Consolidated Interim Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Share capital	Contributed surplus and net former parent investment	Deficit
Beginning balance, Shares at Dec. 31, 2022		0
Beginning balance at Dec. 31, 2022	$ (34,417)	$ 0	$ 226,009	$ (260,426)
Net former parent investment	319,130		319,130
Net income (loss)	8,967			8,967
Ending balance, Shares at Sep. 30, 2023		0
Ending balance at Sep. 30, 2023	293,680	$ 0	545,139	(251,459)
Beginning balance, Shares at Dec. 31, 2023		161,778
Beginning balance at Dec. 31, 2023	407,462	$ 656,802	15,020	(264,360)
Shares issued on conversion of share-based awards, Shares		1,516
Shares issued on conversion of share-based awards		$ 8,702	(8,702)
Shares issued from public offering, Shares		55,000
Shares issued from public offering	275,000	$ 275,000
Share issuance cost related to public offering	(12,854)	$ (12,854)
Equity compensation amortization	9,420		9,420
Net income (loss)	(20,348)			(20,348)
Ending balance, Shares at Sep. 30, 2024		218,294
Ending balance at Sep. 30, 2024	$ 658,680	$ 927,650	$ 15,738	$ (284,708)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
OPERATING ACTIVITIES
Net income (loss)	$ (20,348)	$ 8,967
Items not affecting cash and other items:
Equity compensation	3,884	97
Depreciation	165	196
Loss/(gain) on financial instruments measured at fair value	5,750	(32,545)
Other items	0	513
Changes in working capital items:
Decrease in receivables, prepaids and deposits	3,915	1,301
Increase/(decrease) in accounts payable, accrued liabilities and other liabilities	3,194	(12,290)
Net cash used in operating activities	(3,440)	(33,761)
INVESTING ACTIVITIES
Additions to property, plant and equipment	(112,097)	(115,398)
Additions to exploration and evaluation assets	(202)	(347)
Net cash used in investing activities	(112,299)	(115,745)
FINANCING ACTIVITIES
Proceeds from public offering	275,000	0
Share issuance costs related to public offering	(12,854)	0
Net former parent investment - capital contributions	0	46,189
Gross proceeds from GM transaction	0	320,148
Payment of expenses related to the GM transaction	0	(15,217)
Lease payments	(760)	(560)
Deferred financing costs	0	(1,191)
Net cash provided by financing activities	261,386	349,369
CHANGE IN CASH AND CASH EQUIVALENTS	145,647	199,863
CASH AND CASH EQUIVALENTS - BEGINNING OF THE PERIOD	195,516	636
CASH AND CASH EQUIVALENTS - END OF THE PERIOD	$ 341,163	$ 200,499

Background and Nature of Operat

Background and Nature of Operations	9 Months Ended
Background and Nature of Operations	Sep. 30, 2024
General information about financial statements [abstract]
Background and Nature of Operations	1. BACKGROUND AND NATURE OF OPERATIONS 1397468 B.C. Ltd. was incorporated under the Business Corporations Act (British Columbia) on January 23, 2023 for the sole purpose of acquiring ownership of the North American business assets and investments of an entity then named Lithium Americas Corp. (“ Old LAC ”) and, which is now named Lithium Americas (Argentina) Corp. (“ Lithium Argentina ”), pursuant to a separation transaction (the “ Separation ”) as described in Note 2. The assets, liabilities and activities of Old LAC's North American business prior to the Separation are referred to as LAC North America. Upon consummation of the Separation on October 3, 2023, 1397468 B.C. Ltd. was re-named Lithium Americas Corp . (“ New LAC ” or the “ Company ”) and its common shares were listed on the Toronto Stock Exchange (“ TSX ”) and on the New York Stock Exchange (“ NYSE ”) under the symbol “LAC.” The Separation was completed pursuant to a statutory plan of arrangement (the “ Arrangement ”). Under the terms of the Arrangement, Old LAC contributed to New LAC the assets of LAC North America, including Thacker Pass, investments in shares of certain companies, its receivable of $ 43.6 million plus accrued interest to October 3, 2023 and cash of $ 275.5 million (which included the remaining unspent proceeds of the Tranche 1 Investment and $ 75 million to establish sufficient working capital). Each shareholder of Old LAC was granted one common share in Lithium Argentina and one common share of New LAC in exchange for each Old LAC share, resulting in two independent publicly traded companies. The Separation was pro rata to the shareholders of Old LAC, so that the holders maintained the same proportionate interest in Old LAC (and, upon the Separation, Lithium Argentina) and New LAC both immediately before and after the Separation. These condensed consolidated interim financial statements present the financial position, results of operations, changes in shareholders' equity and cash flows of the Company as if it had operated on a stand-alone basis. Namely, the comparative results of LAC North America as at and for the period ended September 30, 2023, were prepared on a carve-out basis. The operating results for the current period ended September 30, 2024 represent actual financial results for the period. The financial position of the Company as at December 31, 2023 was derived from the assets and liabilities assumed as part of the Separation on a continuity of interests basis and reflects the actual activities of the Company from October 3, 2023 to December 31, 2023. The Company is focused on advancing the Thacker Pass project (“ Thacker Pass ”), a sedimentary-based lithium project located in the McDermitt Caldera in Humboldt County in north-western Nevada, USA. Thacker Pass is 100 %-owned by Lithium Nevada Corp., which is wholly owned by 1339840 B.C. Ltd., a wholly-owned subsidiary of the Company. The head office and principal address of the Company is Suite 3260, 666 Burrard Street, Vancouver, British Columbia, Canada, V6C 2X8. On January 30, 2023, LAC North America entered into a purchase agreement with General Motors Holdings LLC (“ GM ”) pursuant to which GM agreed to make a $ 650 million investment (the “ Transaction ”), the proceeds of which are to be used for the construction and development of Thacker Pass. The Transaction is comprised of two tranches, with the $ 320.1 million first tranche investment (the “ Tranche 1 Investment ”) and a second tranche investment of up to $ 329.9 million (the “ Tranche 2 Investment ”). The Tranche 1 Investment was completed on February 16, 2023 resulting in GM owning 15,002 common shares of Old LAC which became an equivalent number of shares of the Company post - Separation. 1. BACKGROUND AND NATURE OF OPERATIONS (continued) As the Separation was completed before the closing of the Tranche 2 Investment, the Tranche 2 agreement between GM and Old LAC was terminated on October 3, 2023 and replaced by a corresponding subscription agreement between GM and New LAC (the “ Tranche 2 Investment Agreement ”) (see Note 10) such that the Tranche 2 Investment proceeds would be received by the Company. On October 15, 2024, the Company and GM entered into a new investment agreement (“ GM Investment Agreement ”) to establish a joint venture (“ JV ”) for the purpose of funding, developing, constructing and operating Thacker Pass (“ JV Transaction ”). The JV Transaction will deliver $ 625 million of cash and letters of credit from GM to Thacker Pass. Under the terms of the GM Investment Agreement, GM will acquire a 38 % asset-level ownership stake in Thacker Pass. The Company and GM terminated the Tranche 2 Investment Agreement concurrently with the execution of the GM Investment Agreement. As part of the Separation, an investors rights agreement and an agreement to supply GM with lithium carbonate production from Thacker Pass Phase 1 and a right of first offer (" ROFO ") on Phase 2 production (the “ Offtake Agreement ”) were assigned by Old LAC to the Company. GM has agreed to extend its existing Offtake Agreement for up to 100% of production volumes from Phase 1 of Thacker Pass to 20 years to support the expected maturity of the DOE Loan. Upon closing of the JV Transaction, GM will also enter into an additional 20 year offtake agreement for up to 38% of Thacker Pass Phase 2 production and will retain its existing ROFO on the remaining Phase 2 production volumes. On March 12, 2024, the Company received a conditional commitment (“ Conditional Commitment ”) from the U.S. Department of Energy (“ DOE ”) for a $ 2.26 billion loan under the Advanced Technology Vehicles Manufacturing (“ ATVM ”) Loan Program (the “ DOE Loan ”), for financing the construction of the processing facilities at Thacker Pass. On October 28, 2024, the Company and the DOE closed the $ 2.26 billion DOE Loan. The Company is required to meet certain conditions precedent in advance of first draw under the DOE Loan. On August 5, 2024, the Company received approval for a $ 11.8 million grant from the U.S. Department of Defense to support an upgrade of local power infrastructure and to help build a transloading facility. To date, the Company has not generated significant revenues from operations and has relied on equity financing to fund operations. The underlying values of exploration and evaluation assets, property, plant and equipment and the investment in Thacker Pass are dependent on the existence of economically recoverable reserves, securing and maintaining title and beneficial interest in the properties, and the ability of the Company to obtain the necessary financing to complete development, and to attain future profitable operations.

Basis of Preparation and Presen

Basis of Preparation and Presentation	9 Months Ended
Basis of Preparation and Presentation	Sep. 30, 2024
Basis of Preparation and Presentation [Abstract]
Basis of Preparation and Presentation	2. BASIS OF PREPARATION AND PRESENTATION These condensed consolidated interim financial statements of the Company (“ Interim Financials ”) have been prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“ IFRS ”) applicable to the preparation of interim financial statements, including International Accounting Standards (“ IAS ”) 34, Interim Financial Reporting. The Interim Financials should be read in conjunction with the Company’s last annual consolidated financial statements as at and for the year ended December 31, 2023 (the “ 2023 Annual Financials ”), which have been prepared in accordance with IFRS. 2. BASIS OF PREPARATION AND PRESENTATION (continued) Prior to October 3, 2023, LAC North America did not operate as a separate legal entity. The assets, liabilities, results of operations and cash flows prior to October 3, 2023 were those specifically identifiable to LAC North America including assets, liabilities and expenses relating to Thacker Pass, specified investments, transactions and balances arising from the GM investment, as well as an allocation of certain costs relating to the management of those relevant assets, liabilities and results of operations. Such costs were allocated from the shared corporate expenses of Old LAC based on the estimated level of involvement of Old LAC management and employees with LAC North America. During the comparative period ended September 30, 2023, Old LAC costs were allocated to LAC North America for corporate administrative expenses and employment costs of Old LAC employees primarily relating to Old LAC employees who provided services including accounting and finance, legal, information technology, human resources, marketing, investor relations, contract support, treasury, administrative and other corporate head office services. The expenses and cost allocations have been determined on a basis considered by Old LAC to be a reasonable reflection of the utilization of services provided to or the benefit received by LAC North America during the comparative period ended September 30, 2023 presented relative to the total costs incurred by Old LAC. The Interim Financials are expressed in US dollars (“ USD ”), the Company’s presentation and functional currency. The accounting policies are the same as those applied in the Company’s 2023 Annual Financials.

Summary of Material Accounting

Summary of Material Accounting Policies	9 Months Ended
Summary of Material Accounting Policies	Sep. 30, 2024
Disclosure of summary of materials policies [abstract]
Summary of Material Accounting Policies	3. SUMMARY OF MATERIAL ACCOUNTING POLICIES Principles of Consolidation These condensed consolidated interim financial statements include the accounts of the Company and its corporate group of companies, consisting of (i) wholly-owned US subsidiaries Lithium Nevada and KV Project LLC; and (ii) Canadian wholly-owned subsidiary 1339480 B.C. Ltd. All intercompany transactions and balances have been eliminated. Estimation Uncertainty and Significant Accounting Policy Judgments The preparation of these Interim Financials in conformity with IFRS applicable to the preparation of interim financial statements requires management to make assumptions, estimates, and judgments that affect the amounts reported in these interim financial statements and accompanying notes. The Company bases its estimates on historical experience and various assumptions that are believed to be reasonable at the time the estimate was made. Accordingly, actual results may differ from amounts estimated in these condensed consolidated interim financial statements and such differences could be material. Significant judgments made by management in applying the Company’s accounting policies and key sources of estimation uncertainty were substantially the same as those applied in the 2023 Annual Financials of the Company as well as additional items as follows: Fair Value Remeasurement of Investment in Ascend Elements The Company applied judgment in estimating the fair value of its investment in Ascend Elements. As Ascend Elements is a private company, there is no observable market data to use, so the Company carried out an assessment based on publicly-available information on the business activities of Ascend Elements and the market trends impacting its peer companies trading publicly in the lithium battery recycling market. 3. SUMMARY OF MATERIAL ACCOUNTING POLICIES (continued) Assessment of Impairment of Thacker Pass Management conducts an impairment assessment of Thacker Pass if an impairment indicator as defined in accordance with International Accounting Standard 36 Impairment of Assets (“IAS 36”) is identified. Management determined that there were no impairment indicators at September 30, 2024. New IFRS Pronouncements Amendments to IAS 1 – Presentation of Financial Statements In October 2022, the IASB issued amendments to IAS 1, Presentation of Financial Statements titled Non- current Liabilities with Covenants. These amendments sought to improve the information that an entity provides when its right to defer settlement of a liability is subject to compliance with covenants within 12 months after the reporting period. These amendments to IAS 1 override but incorporate the previous amendments, Classification of liabilities as current or non-current, issued in January 2020, which clarified that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. Liabilities should be classified as non-current if a company has a substantive right to defer settlement for at least 12 months at the end of the reporting period. The amendments are effective January 1, 2024, with early adoption permitted. Retrospective application is required on adoption. These amendments do not impact the Interim Financials. IFRS 18 – Presentation and Disclosures in Financial Statements In April 2024, the IASB issued IFRS 18, Presentation and Disclosure of Financial Statements, which replaces IAS 1, Presentation of Financial Statements. IFRS 18 introduces new requirements for all companies to present specific categories and defined subtotals in the statement of profit and loss, disclose explanations of management defined performance measure if used in the financial statements, and improve aggregation and disaggregation. The standard is effective for periods beginning on or after January 1, 2027. Retrospective application is required and early adoption is permitted. The Company is currently evaluating the impact of this new standard on the Company's financial statements.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
Cash and Cash Equivalents	Sep. 30, 2024
Cash and cash equivalents [abstract]
Cash and Cash Equivalents	4. CASH AND CASH EQUIVALENTS September 30, December 31, $ $ Cash 3,212 12,050 Cash equivalents 337,951 183,466 341,163 195,516 As at September 30, 2024, $ 0.6 million of cash and cash equivalents were held in Canadian dollars (December 31, 2023 - $ 8.5 million), and $ 340.6 million in US dollars (December 31, 2023 - $ 187.0 million). Cash equivalents include investments in US treasury bills, short-term savings and deposit accounts with two Canadian Schedule I chartered banks that mature within 90 days of the date of acquisition and earn interest between 4.6 - 5.5 % per annum.

Prepaids, Deposits and Receivab

Prepaids, Deposits and Receivables	9 Months Ended
Prepaids, Deposits and Receivables	Sep. 30, 2024
Prepaids, deposits and receivables [abstract]
Prepaids, Deposits and Receivables	5. PREPAIDS, DEPOSITS AND RECEIVABLES September 30, December 31, $ $ Prepaids and deposits 5,711 5,872 Receivables 151 2,922 Interest receivable 1,996 1,573 7,858 10,367

Investment in Green Technology

Investment in Green Technology Metals	9 Months Ended
Investment in Green Technology Metals	Sep. 30, 2024
Disclosure of interest in other entities [abstract]
Investment in Green Technology Metals	6. INVESTMENT IN GREEN TECHNOLOGY METALS On April 28, 2022, LAC North America entered into an agreement to acquire shares of Green Technology Metals Limited (ASX: GT1) (“ GT1 ”), a North American focused lithium exploration and development public company with hard rock spodumene assets in north-western Ontario, Canada, in a private placement for total consideration of $ 10,000 . As at September 30, 2024, the Company holds 13,301 common shares, representing approximately 3 % of the issued and outstanding shares of GT1 with a fair value of $ 829 (December 31, 2023 - $ 2,580 ) determined based on the market price of GT1 shares as of such date. A gain on change in fair value of GT1 shares of $ 146 (2023 - loss of $ 2,724 ) and a loss on change in fair value of $ 1,751 (2023 - $ 3,861 ) respectively were recognized in the Condensed Consolidated Interim Statements of Comprehensive Loss for the three and nine month periods ended September 30, 2024. The Company’s investment in GT1 is classified as a Level 1 financial instrument (Note 21).

Investment in Ascend Elements

Investment in Ascend Elements	9 Months Ended
Investment in Ascend Elements	Sep. 30, 2024
Disclosure of joint operations [abstract]
Investment in Ascend Elements	7. INVESTMENT IN ASCEND ELEMENTS On July 18, 2022, LAC North America made a $ 5,000 investment in Ascend Elements, Inc. (“ Ascend Elements ”), a private US based lithium-ion battery recycling and engineered material company, by way of a subscription for Series C-1 preferred shares. As at September 30, 2024, the Company holds 806 series C-1 preferred shares of Ascend Elements with an estimated fair value of $ 4,445 (December 31, 2023 - $ 8,582 ). As Ascend Elements is a private company, there is no observable market data to use as a measurement of fair value, so the Company’s assessment was determined based on a review of Ascend Elements’ business developments, financings and trends in the share prices of other companies in the same industry sector. At September 30, 2024, the Company estimated the fair value of the investment in Ascend Elements and determined the value had decreased by 26 % based on a number of factors, primarily the overall downturn of the lithium battery recycling market as measured by the reduction in the fair value of a basket of publicly-traded peer companies during the third quarter of 2024. As a result, a loss on change in fair value of the investment in Ascend Elements of $ 1,562 (2023 - gain of $ 3,582 ) and loss on change in fair value of $ 4,137 (2023 - gain of $ 3,582 ) respectively was recognized in the Condensed Consolidated Interim Statement of Comprehensive Loss for the three and nine month periods ended September 30, 2024. The Company’s investment in Ascend Elements is classified as a Level 3 financial instrument (Note 21).

Property Plant and Equipment

Property Plant and Equipment	9 Months Ended
Property Plant and Equipment	Sep. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Property Plant and Equipment	8. PROPERTY, PLANT AND EQUIPMENT Thacker Pass 1 Equipment Right of Use assets Other Total $ $ $ $ $ Cost As at December 31, 2022 - 2,740 3,378 701 6,819 Transfers from E&E (Note 9) 9,091 - - - 9,091 Additions 193,728 210 549 134 194,621 Disposals - - ( 275 ) ( 90 ) ( 365 ) As at December 31, 2023 202,819 2,950 3,652 745 210,166 Additions 124,613 52 1,096 224 125,985 Disposals - ( 36 ) ( 14 ) - ( 50 ) As at September 30, 2024 327,432 2,966 4,734 969 336,101 Thacker Pass 1 Equipment Right of Use assets Other Total $ $ $ $ $ Accumulated depreciation As at December 31, 2022 - 1,644 1,024 215 2,883 Depreciation for the year - 587 807 85 1,479 Disposals - - ( 188 ) ( 90 ) ( 278 ) As at December 31, 2023 - 2,231 1,643 210 4,084 Depreciation for the period - 453 949 82 1,484 Disposals - ( 5 ) ( 14 ) - ( 19 ) As at September 30, 2024 - 2,679 2,578 292 5,549 Thacker Pass 1 Equipment Right of Use assets Other Total $ $ $ $ $ Net book value As at December 31, 2023 202,819 719 2,009 535 206,082 As at September 30, 2024 327,432 287 2,156 677 330,552 1. The “Thacker Pass” category also includes right of use assets with a cost of $ 1,848 as at September 30, 2024. The Company has certain commitments for royalty and other payments to be made on Thacker Pass as set out below. These amounts will only be payable if the Company continues to hold the subject claims in the future and the royalties will only be incurred if the Company starts production from Thacker Pass. • 20 % royalty on revenue solely in respect of uranium; • 8 % gross revenue royalty on all claims up to a cumulative payment of $ 22,000 . The royalty will then be reduced to 4 % for the life of the project. The Company has the option at any time to reduce the royalty to 1.75 % upon payment of $ 22,000 . 8. PROPERTY, PLANT AND EQUIPMENT (continued) Prepayments of $ 6,860 at September 30, 2024 related to the non-current portion of project insurance for Thacker Pass and deposits on equipment, are included in Other assets. Prepayments of $ 15,315 at December 31, 2023 related to housing units and related transportation costs, as well as the non-current portion of project insurance for Thacker Pass, were included in Other assets.

Exploration and Evaluation Asse

Exploration and Evaluation Assets	9 Months Ended
Exploration and Evaluation Assets	Sep. 30, 2024
Exploration and evaluation assets [abstract]
Exploration and Evaluation Assets	9. EXPLORATION AND EVALUATION ASSETS Exploration and evaluation assets relating to Thacker Pass and other projects were as follows: Total $ Exploration and evaluation assets, as at December 31, 2022 9,514 Additions 347 Transfers to PP&E (Note 8) ( 9,091 ) Exploration and evaluation assets, as at December 31, 2023 770 Additions 202 Exploration and evaluation assets, as at September 30, 2024 972 Upon commencement of development of Thacker Pass on February 1, 2023, the capitalized costs of Thacker Pass were transferred from exploration and evaluation assets to property, plant and equipment and Old LAC commenced capitalizing development costs. Concurrent with the transfer of the Thacker Pass assets from exploration and evaluation to property, plant and equipment, the Company completed an impairment test of Thacker Pass which compared the carrying value to the recoverable amount. The recoverable amount is the greater of the value in use and the fair value less disposal costs. The fair value less disposal costs was calculated using a discounted cash flow model with feasibility study economics. The significant assumptions that impacted the fair value included future lithium prices, capital cost estimates, operating cost estimates, estimated mineral reserves and resources, and the discount rate. Based on the result of the impairment test, management concluded that there was no impairment.

Agreements with General Motors

Agreements with General Motors	9 Months Ended
Agreements with General Motors	Sep. 30, 2024
Equity [abstract]
Agreements With General Motors	10. AGREEMENTS WITH GENERAL MOTORS On January 30, 2023, LAC North America entered into an agreement with GM, pursuant to which GM agreed to make a $ 650,000 equity investment in two tranches, to be used for the construction and development of Thacker Pass. On February 16, 2023, the Tranche 1 Investment of $ 320,148 closed, resulting in GM’s purchase of 15,002 common shares of Old LAC which became an equivalent number of shares of the Company post-Separation. In connection with the Tranche 1 Investment, the Company and GM also entered into (a) a warrant certificate and a subscription agreement (the “ GM Tranche 2 Agreements ”), each in relation to a second tranche investment of up to $ 329,852 ; (b) the Offtake Agreement and (c) an investor rights agreement. GM Tranche 2 Agreements Pursuant to the GM Tranche 2 Agreements, as the Separation was completed before the closing of the Tranche 2 Investment by GM, the GM Tranche 2 Agreements with Old LAC were made ineffective in consideration for the purchase of two common shares of Old LAC and, a new subscription agreement was executed by New LAC and GM. The terms of the New LAC subscription agreement substantially mirrors the subscription agreement previously executed by Old LAC, subject to the shares and price being adjusted by the New LAC relative value ratio, such that GM’s second tranche investment of up to $ 329,852 would be made in New LAC. 10. AGREEMENTS WITH GENERAL MOTORS (continued) Pursuant the Tranche 2 Investment agreement, GM would purchase common shares of New LAC subject to the satisfaction of certain conditions precedent, including the condition that the Company secured, subject to certain conditions, sufficient funding to complete the development of Phase 1 for Thacker Pass (the “ Funding Condition ”). The subscription agreement called for an aggregate purchase price of up to $ 329,852 , with the number of shares to be determined using a price equal to the lower of (a) the 5-day volume weighted average share price (which is determined as of the date the notice that the certain conditions have been met) and (b) $ 17.36 per share.The GM Tranche 2 Agreements were treated as a derivative because the GM Tranche 2 Agreements could result in the issuance of a variable number of shares for the fixed subscription price. The derivative was initially measured at fair value and subsequently carried at fair value through profit and loss. The Company recorded the GM Tranche 2 Agreements derivative on January 30, 2023, at an initial fair value of $ 33,194 and the net proceeds of Tranche 1 investment were recorded in Net former parent investment. Financial advisory fees of $ 16,803 and other transaction costs of $ 174 were paid in connection with the closing of the first tranche. The $ 1,760 portion of the transaction costs related to the GM Tranche 2 Agreements derivative were expensed. Transactions costs of $ 15,217 attributable to the GM Tranche 1 proceeds were recorded in the Net former parent investment. Changes in the value of the GM Tranche 2 Agreements are summarized below: $ GM derivative liability On initial recognition as at January 30, 2023 ( 33,194 ) Gain on change in fair value 32,846 As at December 31, 2023 ( 348 ) Gain on change in fair value 138 As at September 30, 2024 ( 210 ) The fair value of the derivative as of January 30, 2023, was determined using a Monte Carlo simulation with the following Old LAC’s inputs: volatility of 58.34 %, share price of $ 21.99 , a risk-free rate of 4.77 %, and an expected dividend of 0 %. The fair value of the derivative as of December 31, 2023, was estimated with the following inputs: volatility of 71.26 %, share price of $ 6.40 , a risk-free rate of 5.54 %, and an expected dividend of 0 %. The fair value of the derivative as of September 30, 2024, was estimated with the following inputs: volatility of 81.16 %, share price of $ 2.70 , a risk-free rate of 4.63 %, and an expected dividend of 0 %. A gain on change in the fair value of the derivative for the period from December 31, 2023, to September 30, 2024 of $ 138 (2023 - gain of $ 32,824 ) was recognized in the Condensed Consolidated Interim Statement of Comprehensive Loss for the nine months ended September 30, 2024. Valuation of the derivative is sensitive to changes in the Company's share price and the assumed volatility of common shares. The change in fair value of the GM derivative liability for the nine months ended September 30, 2024, and year ended December 31, 2023, were driven by underlying valuation assumptions. A reduction/increase of the Company's share price by 10 % at September 30, 2024, would result in a corresponding reduction/increase of the derivative value by 20 % and 24 % respectively. As a result of the signing of the GM Investment Agreement on October 15, 2024, the Company and GM agreed to terminate the Tranche 2 Investment Agreement concurrently with the execution of the GM Investment Agreement. 10. AGREEMENTS WITH GENERAL MOTORS (continued) Offtake Agreement As part of the Arrangement, the Offtake Agreement was assigned to New LAC. Pursuant to the Offtake Agreement, GM may purchase up to 100 % of Thacker Pass Phase 1 production at a price based on prevailing market rates. The term of the arrangement for Phase 1 production was ten years, subject to a five-year extension at GM’s option, which will be extended to 20 years to support the expected maturity of the DOE Loan. The Company has also granted GM a ROFO on Thacker Pass Phase 2 production. Upon closing of the JV Transaction, GM will also enter into an additional 20 -year offtake agreement for up to 38 % of production volumes from Phase 2 and will retain its existing ROFO on the remaining balance of Phase 2 production volumes.

Leases and Other Liabilities

Leases and Other Liabilities	9 Months Ended
Leases and Other Liabilities	Sep. 30, 2024
Miscellaneous liabilities [abstract]
Leases and Other Liabilities	11. LEASES AND OTHER LIABILITIES Leases September 30, December 31, $ $ Current portion of leases 1,241 854 Long term portion of leases Office leases 1,182 1,199 Vehicles and equipment leases 36 69 Land lease 1,848 1,845 3,066 3,113 Other liabilities Mining contractor liability 3,500 3,500 6,566 6,613 Leases for office space, vehicles and equipment have terms ranging from 2 to 5 years . The land lease for land near the city of Winnemucca has a term of 40 years from signing in November 2023. Other Liabilities During Q2 2019, LAC North America entered into a mining design, consulting and mining operations agreement with a mining contractor for Thacker Pass which included a financing component. In accordance with the agreement, LAC North America received $ 3,500 from the mining contractor in seven consecutive equal quarterly installments, with $ 1,500 received in 2019 and $ 2,000 received in 2020. These amounts are included in the mining contractor liability balance. The Company will pay a success fee to the mining contractor of $ 4,675 upon achieving certain commercial mining milestones or repay the $ 3,500 advance without interest if such commercial mining milestones are not met.

Share Capital and Equity Compen

Share Capital and Equity Compensation	9 Months Ended
Share Capital and Equity Compensation	Sep. 30, 2024
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share Capital and Equity Compensation	12. SHARE CAPITAL AND EQUITY COMPENSATION Share Capital Equity Financing On April 22, 2024, the Company completed an underwritten public offering (the “ Offering ”) of 55 million common shares (the “ Common Shares ”) at a price of $ 5.00 per Common Share (the “Issue Price”) for aggregate gross proceeds to the Company of $ 275 million or net proceeds of approximately $ 262 million. The Company intends to use the net proceeds from the Offering to advance construction and development of Thacker Pass. Authorized and Issued The Company's authorized share capital is comprised of an unlimited number of common shares without par value. At September 30, 2024, 218,294 (December 31, 2023 - 161,778 ) common shares were issued and outstanding. Equity Incentive Plan In connection with the completion of the Separation, the Company adopted an equity incentive plan (the “ Equity Incentive Plan ”). The Equity Incentive Plan provides for the grant to eligible directors and employees of incentive stock options exercisable to purchase common shares, Company RSUs that convert automatically into common shares and Company PSUs that are subject to performance conditions and/or multipliers and designated as such in accordance with the Equity Incentive Plan that are settled for common shares. The Equity Incentive Plan also provides for the grant to eligible directors of Company DSUs which the directors are entitled to redeem for common shares following retirement or termination from the Board. The Company RSUs may vest immediately or one-third per year on each of the grant anniversary dates over a period of up to three years and Company PSUs generally vest after three years. In connection with the Arrangement, holders of all awarded DSUs, RSUs and PSUs of Old LAC previously held (collectively, the “ Old LAC Units ”) received, in lieu of such outstanding Old LAC Units, equivalent incentive securities of the Company and of Lithium Argentina. On October 3, 2023, the Company had 160,048 common shares issued and outstanding, and 225 DSUs, 2,171 RSUs and 1,037 PSUs were issued in connection with the Arrangement. Restricted Share Units Pursuant to the Arrangement, the holders of the Old LAC RSUs exchanged each Old LAC RSU for one New LAC RSU and 0.87 of a new Lithium Argentina RSU. New LAC RSUs issued to holders of Old LAC RSU who serve as a director, employee or consultant of Lithium Argentina rather than New LAC upon the Separation vested immediately on closing of the Separation, while RSUs issued to those who serve New LAC are subject to the vesting conditions of the original Old LAC awards. During the nine months ended September 30, 2024, the Company granted 1,936 RSUs to its employees and consultants. The total estimated fair value of the RSUs was $ 9,337 (2023 - $ 3,204 ) based on the market value of the Company’s shares on the grant date. As at September 30, 2024, there was $ 6,009 (2023 - $ 2,346 ) of total unamortized compensation cost relating to unvested RSUs. 12. SHARE CAPITAL AND EQUITY COMPENSATION (continued) During the nine months ended September 30, 2024, stock-based compensation expense related to RSUs of $ 2,819 was charged to operating expenses (2023 - $ 70 ) and $ 1,851 was capitalized to Thacker Pass project (2023 - $ 951 ). In Q1 2024, 642 RSUs were issued for settlement of the 2023 annual bonuses which were accrued at December 31, 2023. A summary of changes to the number of outstanding RSUs is as follows: Number of RSUs RSUs issued on Separation 2,171 Converted into shares ( 1,191 ) Granted 670 Balance, RSUs outstanding as at December 31, 2023 1,650 Converted into common shares ( 1,138 ) Granted 1,936 Cancelled ( 39 ) Balance, RSUs outstanding as at September 30, 2024 2,409 Deferred Share Units During the nine months ended September 30, 2024, the Company granted 99 DSUs to its directors. The total estimated fair value of the DSUs was $ 435 . A summary of changes to the number of outstanding DSUs is as follows: Number of DSUs DSUs issued on Separation 225 Converted into common shares ( 130 ) Balance, DSUs outstanding as at December 31, 2023 95 Granted 99 Balance, DSUs outstanding as at September 30, 2024 194 Performance Share Units During the nine months ended September 30, 2024, the Company granted 442 PSUs to its employees. The total estimated fair value of the PSUs was $ 2,793 (2023 - $ 621 ) based on the fair value of the Company’s shares on the grant date. As at September 30, 2024, there was $ 3,723 (2023 – $ 558 ) of unamortized compensation costs relating to unvested PSUs. During the nine months ended September 30, 2024, stock- based compensation expense related to PSUs of $ 1,065 was charged to operating expenses (2023 - $ 27 ) and $ 179 was capitalized to Thacker Pass project (2023 - $ 156 ). A summary of changes to the number of outstanding PSUs is as follows: Number of PSUs PSUs issued on Separation 1,037 Converted into common shares ( 409 ) Balance, PSUs outstanding as at December 31, 2023 628 Granted 442 Converted into common shares ( 377 ) Balance, PSUs outstanding as at September 30, 2024 693

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
Earnings (Loss) Per Share	Sep. 30, 2024
Earnings per share [abstract]
Earnings (Loss) Per Share	13. EARNINGS (LOSS) PER SHARE The weighted average number of common shares outstanding used in the calculation of both basic and diluted earnings per share for periods prior to the Separation was derived from common shares issued as of the Separation date of October 3, 2023. Loss per share for the three and nine months ended September 30, 2023, which is presented on a “carve-out” basis has been calculated using the number of shares of New LAC that were issued and outstanding upon Separation on October 3, 2023.

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2024
Related party transactions [abstract]
Related party transactions	14. RELATED PARTY TRANSACTIONS The Company entered into the following transactions with related parties: Transition Services Agreement Pursuant to the Separation, the Company and Lithium Argentina entered into a Transition Services Agreement whereby each company provides to the other company, various accounting, technical and other services, including managing settlement of employee equity awards. The TSA terminated on October 2, 2024. Compensation of Directors and Key Management The following presentation of the remuneration of directors and key management personnel of the Company. Directors and key management differ for the periods before and after Separation. The amounts for the comparative period ended September 30, 2023, represent an allocation of the remuneration of those directors and key management personnel allocated to LAC North America prior to the Separation date of October 3, 2023. The amounts for the current period ended September 30, 2024 are the actual costs incurred by the Company for those directors and key management personnel for compensation earned at and incurred by the Company. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 $ $ $ $ Salaries, bonuses, benefits and directors' fees included in the Consolidated Statement of Comprehensive loss 925 292 2,804 1,392 Salaries, bonuses, benefits included in PP&E - 234 - 234 Equity compensation 930 331 2,757 1,590 1,855 857 5,561 3,216 Amounts due to directors and key management are as follows: September 30, December 31, $ $ Total due to directors and key management 230 2,376

General and Administrative Expe

General and Administrative Expenses	9 Months Ended
General and Administrative Expenses	Sep. 30, 2024
Selling, general and administrative expense [abstract]
General and Administrative Expenses	15. GENERAL AND ADMINISTRATIVE EXPENSES The following table summarizes the Company’s general and administrative expenses, which represent the activity of LAC North America for the comparative period ended September 30, 2023 and actual expenses for the current period ended September 30, 2024: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ Salaries, benefits and directors’ fees 2,061 1,077 6,638 3,028 Office and professional fees 1,771 1,310 4,837 4,018 Regulatory and filing fees 142 161 600 622 Investor and government relations 340 61 1,246 199 Depreciation 78 58 165 158 4,392 2,667 13,486 8,025

Exploration and Evaluation Expe

Exploration and Evaluation Expenditures	9 Months Ended
Exploration and Evaluation Expenditures	Sep. 30, 2024
Disclosure of exploration and expenditures [abstract]
Exploration and Evaluation Expenditures	16. EXPLORATION AND EVALUATION EXPENDITURES The following table summarizes the Company’s exploration and evaluation expenditures: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ Consulting and salaries - - - 2,406 Engineering - - - 782 Permitting and environmental - - - 268 Field supplies and other - - - 14 Depreciation - - - 196 Drilling and geological expenses - - - 98 - - - 3,764

Transactions Costs

Transactions Costs	9 Months Ended
Transactions Costs	Sep. 30, 2024
Notes and other explanatory information [abstract]
Transactions Costs	17. TRANSACTIONS COSTS The following table summarizes the Company’s transactions costs: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ DOE Loan due diligence costs 1,254 1,454 2,964 1,942 Other financing activities 4,807 - 5,278 - Separation cost allocation - 1,012 - 4,652 General Motors investment - 63 - 2,765 6,061 2,529 8,242 9,359 DOE Loan costs relate to due diligence costs to advance the loan. Other financing costs include legal and advisory fees related to financing activities, including negotiations to close the GM Investment Agreement . Separation costs are allocations of legal and professional fees from the former parent relating to the planning for, execution and completion of the Separation. General Motors investment includes transaction costs related to the Tranche 2 Investment component of the Transaction (Note 1).

Finance and Other Income

Finance and Other Income	9 Months Ended
Finance and Other Income	Sep. 30, 2024
Finance and other income [abstract]
Finance and Other Income	18. FINANCE AND OTHER INCOME The following table summarizes the Company’s finance and other income: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ Interest earned on cash deposits 4,955 - 11,230 - Other - ( 70 ) ( 199 ) ( 18 ) 4,955 ( 70 ) 11,031 ( 18 )

Segmented Information

Segmented Information	9 Months Ended
Segmented Information	Sep. 30, 2024
Disclosure of operating segments [abstract]
Segmented Information	19. SEGMENTED INFORMATION The Company operates in one operating segment. Thacker Pass was in the exploration and evaluation phase and was transferred to the development stage effective February 1, 2023. Substantially all the assets and the liabilities of the Company relate to Thacker Pass.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
Supplemental Cash Flow Information	Sep. 30, 2024
Notes and other explanatory information [abstract]
Supplemental Cash Flow Information	20. SUPPLEMENTAL CASH FLOW INFORMATION Nine months ended September 30, 2024 2023 $ $ Interest received on cash deposits 10,806 - Interest paid 149 136

Financial Instruments

Financial Instruments	9 Months Ended
Financial Instruments	Sep. 30, 2024
Disclosure of detailed information about financial instruments [abstract]
Financial Instruments	21. FINANCIAL INSTRUMENTS Financial instruments recorded at fair value on the Statements of Financial Position and presented in fair value disclosures are classified using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: • Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; • Level 2 – Inputs other than quoted prices that are observable for assets or liabilities, either directly or indirectly; and • Level 3 – Inputs for assets and liabilities that are not based on observable market data. The fair value hierarchy requires the use of observable market inputs whenever such inputs exist. A financial instrument is classified in the lowest level of the hierarchy for which a significant input has been considered in measuring fair value. Common shares and preferred shares acquired as part of the GT1 and Ascend Elements investments respectively, and the GM Tranche 2 Agreements derivative are measured at fair value on the Condensed Consolidated Statements of Financial Position on a recurring basis. Cash and cash equivalents, and receivables, are measured at amortized cost on the Condensed Consolidated Statements of Financial Position. As at September 30, 2024, the fair value of financial instruments measured at amortized cost approximates their carrying value. GT1 shares are classified at level 1 of the fair value hierarchy (see Note 6), the GM Tranche 2 Agreements derivative (Note 10) is classified at level 2 of the fair value hierarchy and Ascend Elements preferred shares are classified at level 3 of the fair value hierarchy (Note 7). 21. FINANCIAL INSTRUMENTS (continued) The Company manages risks to minimize potential losses. The main objective of the Company’s risk management process is to ensure that the risks are properly identified and that the capital base is adequate in relation to those risks. The principal risks which the Company’s financial instruments are described below. Credit Risk Credit risk is the risk of loss associated with a counterparty’s inability to fulfill its payment obligations. Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and cash equivalents and receivables. The Company’s maximum exposure to credit risk for cash and receivables is the amount disclosed in the Statements of Financial Position. Exposure to credit loss is limited by placing cash and cash equivalents (including the Tranche 1 Investment proceeds) with two major Canadian banks, invested in US treasury bills and other short-term investments issued by the Canadian government or Canadian chartered banks. Expected credit losses estimated to be de minimis. Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s approach to managing liquidity is to evaluate current and expected liquidity requirements under both normal and stressed conditions to estimate and maintain sufficient reserves of cash and cash equivalents to meet its liquidity requirements in the short and long term. The Company prepares annual budgets, which are regularly monitored and updated as considered necessary. As at September 30, 2024, the Company had cash and cash equivalents of $ 341,163 to settle current liabilities of $ 25,154 . Current liabilities include the GM Tranche 2 Agreements derivative which were assumed to be settled in shares at September 30, 2024, prior to the closing of the GM Investment Agreement on October 15, 2024, pursuant to which the Tranche 2 Investment was terminated. The following table summarizes the contractual maturities of the Company’s financial liabilities on an undiscounted basis: Years ended December 31, 2024 2025 2026 2027 Total $ $ $ $ $ Accounts payable and accrued liabilities 23,703 - - - 23,703 Obligations under office leases¹ 321 1,217 829 152 2,519 Obligations under land leases¹ 17 70 73 4,940 5,100 Other obligations¹ 13 3,551 23 - 3,587 Total 24,054 4,838 925 5,092 34,909 1. Include principal and interest/finance charges. Foreign Currency Risk The Company’s functional currency is the USD. The Company is exposed to foreign currency risk on expenditures incurred in Canadian dollars (“CAD”) which are primarily for corporate expenditures at the head office in Canada. As at September 30, 2024, the Company held $ 581 in cash and cash equivalents denominated in CAD. Strengthening/(weakening) of a USD/CAD exchange rate by 10 % would have resulted in a foreign exchange (loss)/gain for the Company of $ 58 at September 30, 2024.

Subsequent Event

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 30, 2024
Disclosure of non-adjusting events after reporting period [abstract]
Subsequent Event	22. SUBSEQUENT EVENTS On October 15, 2024, the Company and GM entered into the GM Investment Agreement to establish a JV for the purpose of funding, developing, constructing and operating Thacker Pass. The JV Transaction will deliver $ 625 million of cash and letters of credit from GM to Thacker Pass. Under the terms of the Investment Agreement, GM will acquire a 38 % asset-level ownership stake in Thacker Pass. GM’s JV Investment is subject to certain conditions precedent, including those related to the DOE Loan. The Company and GM terminated the Tranche 2 Investment Agreement concurrently with the execution of the GM Investment Agreement. GM has agreed to extend its existing Offtake Agreement for up to 100% of production volumes from Phase 1 of Thacker Pass to 20 years to support the expected maturity of the DOE Loan. Upon closing of the JV, GM will also enter into an additional 20-year offtake agreement for up to 38% of Phase 2 production volumes and will retain its existing ROFO on the remaining Phase 2 production volumes. On October 28, 2024, the Company and the DOE closed the $ 2.26 billion DOE Loan for financing the construction of processing facilities at Thacker Pass. The Company is required to meet certain conditions precedent in advance of first drawdown of the DOE Loan, including closing the JV Transaction, funding DOE Loan reserve accounts through the GM $ 195 letter of credit facility, securing additional corporate working capital to fund pre-commissioning general and operating expenses, commissioning costs through production and financing-related fees and expenses and project finance model bring down. The Company is evaluating various financing alternatives to fund corporate working capital prior to first drawdown on the DOE Loan. Financial advisory fees of approximately $ 7.5 million became payable upon closing of the DOE Loan with an additional amount up to $ 5 million payable upon the first drawdown of the DOE Loan.

Summary of Material Accountin_2

Summary of Material Accounting Policies (Policies)	9 Months Ended
Summary of Material Accounting Policies (Policies)	Sep. 30, 2024
Disclosure of summary of materials policies [abstract]
Principles of Consolidation	Principles of Consolidation These condensed consolidated interim financial statements include the accounts of the Company and its corporate group of companies, consisting of (i) wholly-owned US subsidiaries Lithium Nevada and KV Project LLC; and (ii) Canadian wholly-owned subsidiary 1339480 B.C. Ltd. All intercompany transactions and balances have been eliminated.
Estimation Uncertainty and Significant Accounting Policy Judgments	Estimation Uncertainty and Significant Accounting Policy Judgments The preparation of these Interim Financials in conformity with IFRS applicable to the preparation of interim financial statements requires management to make assumptions, estimates, and judgments that affect the amounts reported in these interim financial statements and accompanying notes. The Company bases its estimates on historical experience and various assumptions that are believed to be reasonable at the time the estimate was made. Accordingly, actual results may differ from amounts estimated in these condensed consolidated interim financial statements and such differences could be material. Significant judgments made by management in applying the Company’s accounting policies and key sources of estimation uncertainty were substantially the same as those applied in the 2023 Annual Financials of the Company as well as additional items as follows: Fair Value Remeasurement of Investment in Ascend Elements The Company applied judgment in estimating the fair value of its investment in Ascend Elements. As Ascend Elements is a private company, there is no observable market data to use, so the Company carried out an assessment based on publicly-available information on the business activities of Ascend Elements and the market trends impacting its peer companies trading publicly in the lithium battery recycling market. 3. SUMMARY OF MATERIAL ACCOUNTING POLICIES (continued) Assessment of Impairment of Thacker Pass Management conducts an impairment assessment of Thacker Pass if an impairment indicator as defined in accordance with International Accounting Standard 36 Impairment of Assets (“IAS 36”) is identified. Management determined that there were no impairment indicators at September 30, 2024.
New IFRS Pronouncements	New IFRS Pronouncements Amendments to IAS 1 – Presentation of Financial Statements In October 2022, the IASB issued amendments to IAS 1, Presentation of Financial Statements titled Non- current Liabilities with Covenants. These amendments sought to improve the information that an entity provides when its right to defer settlement of a liability is subject to compliance with covenants within 12 months after the reporting period. These amendments to IAS 1 override but incorporate the previous amendments, Classification of liabilities as current or non-current, issued in January 2020, which clarified that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. Liabilities should be classified as non-current if a company has a substantive right to defer settlement for at least 12 months at the end of the reporting period. The amendments are effective January 1, 2024, with early adoption permitted. Retrospective application is required on adoption. These amendments do not impact the Interim Financials. IFRS 18 – Presentation and Disclosures in Financial Statements In April 2024, the IASB issued IFRS 18, Presentation and Disclosure of Financial Statements, which replaces IAS 1, Presentation of Financial Statements. IFRS 18 introduces new requirements for all companies to present specific categories and defined subtotals in the statement of profit and loss, disclose explanations of management defined performance measure if used in the financial statements, and improve aggregation and disaggregation. The standard is effective for periods beginning on or after January 1, 2027. Retrospective application is required and early adoption is permitted. The Company is currently evaluating the impact of this new standard on the Company's financial statements.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	9 Months Ended
Cash and Cash Equivalents (Tables)	Sep. 30, 2024
Cash and cash equivalents [abstract]
Summary of Cash and Cash Equivalents	September 30, December 31, $ $ Cash 3,212 12,050 Cash equivalents 337,951 183,466 341,163 195,516

Prepaids, Deposits and Receiv_2

Prepaids, Deposits and Receivables (Tables)	9 Months Ended
Prepaids, Deposits and Receivables (Tables)	Sep. 30, 2024
Prepaids, deposits and receivables [abstract]
Summary of Prepaids, Deposits and Receivables	September 30, December 31, $ $ Prepaids and deposits 5,711 5,872 Receivables 151 2,922 Interest receivable 1,996 1,573 7,858 10,367

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	9 Months Ended
Property Plant and Equipment (Tables)	Sep. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Summary of Property, Plant and Equipment	Thacker Pass 1 Equipment Right of Use assets Other Total $ $ $ $ $ Cost As at December 31, 2022 - 2,740 3,378 701 6,819 Transfers from E&E (Note 9) 9,091 - - - 9,091 Additions 193,728 210 549 134 194,621 Disposals - - ( 275 ) ( 90 ) ( 365 ) As at December 31, 2023 202,819 2,950 3,652 745 210,166 Additions 124,613 52 1,096 224 125,985 Disposals - ( 36 ) ( 14 ) - ( 50 ) As at September 30, 2024 327,432 2,966 4,734 969 336,101 Thacker Pass 1 Equipment Right of Use assets Other Total $ $ $ $ $ Accumulated depreciation As at December 31, 2022 - 1,644 1,024 215 2,883 Depreciation for the year - 587 807 85 1,479 Disposals - - ( 188 ) ( 90 ) ( 278 ) As at December 31, 2023 - 2,231 1,643 210 4,084 Depreciation for the period - 453 949 82 1,484 Disposals - ( 5 ) ( 14 ) - ( 19 ) As at September 30, 2024 - 2,679 2,578 292 5,549 Thacker Pass 1 Equipment Right of Use assets Other Total $ $ $ $ $ Net book value As at December 31, 2023 202,819 719 2,009 535 206,082 As at September 30, 2024 327,432 287 2,156 677 330,552

Exploration and Evaluation As_2

Exploration and Evaluation Assets (Tables)	9 Months Ended
Exploration and Evaluation Assets (Tables)	Sep. 30, 2024
Exploration and evaluation assets [abstract]
Schedule of Exploration and Evaluation Assets Relating to Thacker Pass Project	Exploration and evaluation assets relating to Thacker Pass and other projects were as follows: Total $ Exploration and evaluation assets, as at December 31, 2022 9,514 Additions 347 Transfers to PP&E (Note 8) ( 9,091 ) Exploration and evaluation assets, as at December 31, 2023 770 Additions 202 Exploration and evaluation assets, as at September 30, 2024 972

Agreements With General Motors

Agreements With General Motors (Tables)	9 Months Ended
Agreements With General Motors (Tables)	Sep. 30, 2024
Equity [abstract]
Schedule of Change in the Value of Derivative Agreement	Changes in the value of the GM Tranche 2 Agreements are summarized below: $ GM derivative liability On initial recognition as at January 30, 2023 ( 33,194 ) Gain on change in fair value 32,846 As at December 31, 2023 ( 348 ) Gain on change in fair value 138 As at September 30, 2024 ( 210 )

Leases and Other Liabilities (T

Leases and Other Liabilities (Tables)	9 Months Ended
Leases and Other Liabilities (Tables)	Sep. 30, 2024
Miscellaneous liabilities [abstract]
Summary of Leases and Other Liabilities	September 30, December 31, $ $ Current portion of leases 1,241 854 Long term portion of leases Office leases 1,182 1,199 Vehicles and equipment leases 36 69 Land lease 1,848 1,845 3,066 3,113 Other liabilities Mining contractor liability 3,500 3,500 6,566 6,613

Share Capital and Equity Comp_2

Share Capital and Equity Compensation (Tables)	9 Months Ended
Share Capital and Equity Compensation (Tables)	Sep. 30, 2024
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Summary of Changes to Number of Restricted Shares	A summary of changes to the number of outstanding RSUs is as follows: Number of RSUs RSUs issued on Separation 2,171 Converted into shares ( 1,191 ) Granted 670 Balance, RSUs outstanding as at December 31, 2023 1,650 Converted into common shares ( 1,138 ) Granted 1,936 Cancelled ( 39 ) Balance, RSUs outstanding as at September 30, 2024 2,409
Summary of Changes to Number of Deferred Share Units	A summary of changes to the number of outstanding DSUs is as follows: Number of DSUs DSUs issued on Separation 225 Converted into common shares ( 130 ) Balance, DSUs outstanding as at December 31, 2023 95 Granted 99 Balance, DSUs outstanding as at September 30, 2024 194
Summary of Changes to Number of Performance Share Units	A summary of changes to the number of outstanding PSUs is as follows: Number of PSUs PSUs issued on Separation 1,037 Converted into common shares ( 409 ) Balance, PSUs outstanding as at December 31, 2023 628 Granted 442 Converted into common shares ( 377 ) Balance, PSUs outstanding as at September 30, 2024 693

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
Related Party Transactions (Tables)	Sep. 30, 2024
Related party transactions [abstract]
Summary of Compensation of Directors and Key Management	The following presentation of the remuneration of directors and key management personnel of the Company. Directors and key management differ for the periods before and after Separation. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 $ $ $ $ Salaries, bonuses, benefits and directors' fees included in the Consolidated Statement of Comprehensive loss 925 292 2,804 1,392 Salaries, bonuses, benefits included in PP&E - 234 - 234 Equity compensation 930 331 2,757 1,590 1,855 857 5,561 3,216 Amounts due to directors and key management are as follows: September 30, December 31, $ $ Total due to directors and key management 230 2,376

General and Administrative Ex_2

General and Administrative Expenses (Tables)	9 Months Ended
General and Administrative Expenses (Tables)	Sep. 30, 2024
Selling, general and administrative expense [abstract]
Summary of Company's General and Administrative Expenses	The following table summarizes the Company’s general and administrative expenses, which represent the activity of LAC North America for the comparative period ended September 30, 2023 and actual expenses for the current period ended September 30, 2024: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ Salaries, benefits and directors’ fees 2,061 1,077 6,638 3,028 Office and professional fees 1,771 1,310 4,837 4,018 Regulatory and filing fees 142 161 600 622 Investor and government relations 340 61 1,246 199 Depreciation 78 58 165 158 4,392 2,667 13,486 8,025

Exploration and Evaluation Ex_2

Exploration and Evaluation Expenditures (Tables)	9 Months Ended
Exploration and Evaluation Expenditures (Tables)	Sep. 30, 2024
Disclosure of exploration and expenditures [abstract]
Summary of Company's Exploration and Evaluation Expenditures	The following table summarizes the Company’s exploration and evaluation expenditures: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ Consulting and salaries - - - 2,406 Engineering - - - 782 Permitting and environmental - - - 268 Field supplies and other - - - 14 Depreciation - - - 196 Drilling and geological expenses - - - 98 - - - 3,764

Transactions Costs (Tables)

Transactions Costs (Tables)	9 Months Ended
Transactions Costs (Tables)	Sep. 30, 2024
Notes and other explanatory information [abstract]
Summary Of Transactions Costs	The following table summarizes the Company’s transactions costs: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ DOE Loan due diligence costs 1,254 1,454 2,964 1,942 Other financing activities 4,807 - 5,278 - Separation cost allocation - 1,012 - 4,652 General Motors investment - 63 - 2,765 6,061 2,529 8,242 9,359

Finance and Other Income (Table

Finance and Other Income (Tables)	9 Months Ended
Finance and Other Income (Tables)	Sep. 30, 2024
Finance and other income [abstract]
Summary of Finance and Other Income	The following table summarizes the Company’s finance and other income: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ Interest earned on cash deposits 4,955 - 11,230 - Other - ( 70 ) ( 199 ) ( 18 ) 4,955 ( 70 ) 11,031 ( 18 )

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
Supplemental Cash Flow Information (Tables)	Sep. 30, 2024
Notes and other explanatory information [abstract]
Schedule of Supplemental Cash Flow Information	Nine months ended September 30, 2024 2023 $ $ Interest received on cash deposits 10,806 - Interest paid 149 136

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
Financial Instruments (Tables)	Sep. 30, 2024
Disclosure of detailed information about financial instruments [abstract]
Summary of the contractual maturities of the Company's financial liabilities	The following table summarizes the contractual maturities of the Company’s financial liabilities on an undiscounted basis: Years ended December 31, 2024 2025 2026 2027 Total $ $ $ $ $ Accounts payable and accrued liabilities 23,703 - - - 23,703 Obligations under office leases¹ 321 1,217 829 152 2,519 Obligations under land leases¹ 17 70 73 4,940 5,100 Other obligations¹ 13 3,551 23 - 3,587 Total 24,054 4,838 925 5,092 34,909

Background and Nature of Oper_2

Background and Nature of Operations - Additional Information (Details) shares in Thousands, $ in Thousands				9 Months Ended
	Oct. 28, 2024 USD ($)	Oct. 15, 2024 USD ($)	Aug. 05, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 CAD ($)	Mar. 12, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jan. 30, 2023 USD ($) shares	Dec. 31, 2022 USD ($)
Disclosure of detailed information about investment property [line items]
Name of reporting entity				Lithium Americas Corp
Accrued interest				$ 43.6
Cash				341,163,000	$ 581		$ 195,516,000	$ 200,499,000		$ 636,000
Working capital balance				$ 75
Ownership interest in subsidiary				100%
General Motors Holdings LLC [member]
Disclosure of detailed information about investment property [line items]
Payment for investment									$ 650,000,000
U S Department of Energy [member]
Disclosure of detailed information about investment property [line items]
Conditional commitment						$ 2,260,000,000
U S Department of Energy [member] \| Subsequent events [member]
Disclosure of detailed information about investment property [line items]
Repayment of loan commitments	$ 2,260,000,000
U S Department of Defense [member] \| Subsequent events [member]
Disclosure of detailed information about investment property [line items]
Income from government grants			$ 11,800,000
Common shares [member] \| General Motors Holdings LLC [member]
Disclosure of detailed information about investment property [line items]
Number of aggregate subscription receipts from investment \| shares									15,002
Tranche 1 investment [member] \| General Motors Holdings LLC [member]
Disclosure of detailed information about investment property [line items]
Payment for investment									$ 320,100,000
Tranche 2 Investment \| General Motors Holdings LLC [member]
Disclosure of detailed information about investment property [line items]
Payment for investment									$ 329,900,000
GM Tranche 1 Investment [member]
Disclosure of detailed information about investment property [line items]
Cash				$ 275,500,000
GM Investment Agreement [member] \| Subsequent events [member]
Disclosure of detailed information about investment property [line items]
Ownership interest in subsidiary		38%
Investment in joint venture description		As part of the Separation, an investors rights agreement and an agreement to supply GM with lithium carbonate production from Thacker Pass Phase 1 and a right of first offer ("ROFO") on Phase 2 production (the “Offtake Agreement”) were assigned by Old LAC to the Company. GM has agreed to extend its existing Offtake Agreement for up to 100% of production volumes from Phase 1 of Thacker Pass to 20 years to support the expected maturity of the DOE Loan. Upon closing of the JV Transaction, GM will also enter into an additional 20 year offtake agreement for up to 38% of Thacker Pass Phase 2 production and will retain its existing ROFO on the remaining Phase 2 production volumes.
Joint ventures transaction with cash and letter of credit		$ 625,000,000

Summary of Material Accountin_3

Summary of Material Accounting Policies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024 Indicator
Summary of material accounting policies [line items]
Impairment Indicators	0

Cash and Cash Equivalents - Sum

Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Details) $ in Thousands, $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2024 CAD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Cash and cash equivalents [abstract]
Cash	$ 3,212		$ 12,050
Cash equivalents	337,951		183,466
Cash and cash equivalents as presented in the Statement of Financial Position	$ 341,163	$ 581	$ 195,516	$ 200,499	$ 636

Cash and Cash Equivalents - Add

Cash and Cash Equivalents - Additional Information (Details) $ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 CAD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Disclosure of financial assets [line items]
Cash and cash equivalents	$ 341,163	$ 581	$ 195,516		$ 200,499	$ 636
Canadian dollars [member]
Disclosure of financial assets [line items]
Cash and cash equivalents		$ 600		$ 8,500
US dollars [member]
Disclosure of financial assets [line items]
Cash and cash equivalents	$ 340,600		$ 187,000
Bottom of range [member]
Disclosure of financial assets [line items]
Interest earned	4.60%
Top of range [member]
Disclosure of financial assets [line items]
Interest earned	5.50%

Prepaids, Deposits and Receiv_3

Prepaids, Deposits and Receivables - Summary of Prepaids, Deposits and Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Prepaids, deposits and receivables [abstract]
Prepaids and deposits	$ 5,711	$ 5,872
Receivables	151	2,922
Interest receivable	1,996	1,573
Prepaid, deposits and receivables	$ 7,858	$ 10,367

Investment in Green Technolog_2

Investment in Green Technology Metals - Additional Information (Details) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
	Apr. 28, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disclosure of interest in other entities [line items]
Investment in Green Technology Metals		$ 829		$ 829		$ 2,580
Gains losses recognized in profit or loss fair value measurement assets		$ 146		$ (1,751)
Green technology metals [member]
Disclosure of interest in other entities [line items]
Payment to acquire investments other than equity investments	$ 10,000
Investment owned number of shares		13,301		13,301
Percentage of equity interests acquired				3%
Investment in Green Technology Metals		$ 829		$ 829		$ 2,580
Gains losses recognized in profit or loss fair value measurement assets			$ (2,724)		$ (3,861)

Investment in Ascend Elements -

Investment in Ascend Elements - Additional Information (Details) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 18, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disclosure of joint operations [line items]
Investment in Ascend Elements		$ 4,445		$ 4,445		$ 8,582
Gain on change in fair value				$ 138		32,846
Ascend Elements, Inc [member]
Disclosure of joint operations [line items]
Payment to acquire investments in preferred shares	$ 5,000
Investment owned number of shares		806		806
Investment in Ascend Elements		$ 4,445		$ 4,445		$ 8,582
Estimated fair value of investments in Ascend Elements		26%		26%
Gain on change in fair value			$ 3,582		$ 3,582
Loss on change in fair value of derivatives		$ (1,562)		$ (4,137)

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about property, plant and equipment [line items]
Cost of property plant and equipment, beginning of period	$ 210,166	$ 6,819
Accumulated depreciation of property plant and equipment, beginning of period	4,084	2,883
Transfers from E&E (Note 9)		(9,091)
Additions	125,985	194,621
Disposals	(50)	(365)
Depreciation for the year	1,484	1,479
Disposals	(19)	(278)
Cost of property plant and equipment, end of period	336,101	210,166
Accumulated depreciation of property plant and equipment, end of period	5,549	4,084
Total property, plant and equipment	330,552	206,082
Right of Use assets [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Cost of property plant and equipment, beginning of period	3,652	3,378
Accumulated depreciation of property plant and equipment, beginning of period	1,643	1,024
Additions	1,096	549
Disposals	(14)	(275)
Depreciation for the year	949	807
Disposals	(14)	(188)
Cost of property plant and equipment, end of period	4,734	3,652
Accumulated depreciation of property plant and equipment, end of period	2,578	1,643
Total property, plant and equipment	2,156	2,009
Thacker Pass Project [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Cost of property plant and equipment, beginning of period	202,819
Transfers from E&E (Note 9)		9,091
Additions	124,613	193,728
Cost of property plant and equipment, end of period	327,432	202,819
Total property, plant and equipment	327,432	202,819
Equipment and machinery [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Cost of property plant and equipment, beginning of period	2,950	2,740
Accumulated depreciation of property plant and equipment, beginning of period	2,231	1,644
Additions	52	210
Disposals	(36)
Depreciation for the year	453	587
Disposals	(5)
Cost of property plant and equipment, end of period	2,966	2,950
Accumulated depreciation of property plant and equipment, end of period	2,679	2,231
Total property, plant and equipment	287	719
Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Cost of property plant and equipment, beginning of period	745	701
Accumulated depreciation of property plant and equipment, beginning of period	210	215
Additions	224	134
Disposals		(90)
Depreciation for the year	82	85
Disposals		(90)
Cost of property plant and equipment, end of period	969	745
Accumulated depreciation of property plant and equipment, end of period	292	210
Total property, plant and equipment	$ 677	$ 535

Property, Plant and Equipment_2

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Parenthetical) (Details)	Sep. 30, 2024 USD ($)
Thacker Pass [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Right of use assets	$ 1,848

Property, Plant and Equipment_3

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Uranium [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Royalty payable on revenue percentage	20%
Thacker Pass [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Prepayments on housing units	$ 6,860	$ 15,315
Royalty Claims [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Capital commitments	$ 22,000
Royalty payable on revenue percentage	8%
Royalty payable on revenue for life of project percentage	4%
Royalty payable on revenue upon payment of commitment percentage	1.75%

Exploration and Evaluation As_3

Exploration and Evaluation Assets - Schedule of Exploration and Evaluation Assets Relating to Thacker Pass Project (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Exploration and evaluation assets [abstract]
Beginning balance	$ 770	$ 9,514
Additions	202	347
Transfers to PP&E (Note 8)		(9,091)
Ending balance	$ 972	$ 770

Agreements with General Motor_2

Agreements with General Motors - Additional information (Details) $ / shares in Units, shares in Thousands, $ in Thousands			9 Months Ended	12 Months Ended
	Feb. 16, 2023 USD ($) shares	Jan. 30, 2023 USD ($) $ / shares	Sep. 30, 2024 USD ($) Tranche $ / shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($)
Initial fair value of derivative			$ (210)	$ (348)	$ (33,194)
Transaction cost related to derivative expense		$ 1,760
Tranche One [Member]
Issue of equity	$ 320,148
Number of shares issued \| shares	15,002
Professional fees		16,803
Other Transaction Cost		174
Tranche Two [Member]
Payment for investment		$ 329,852
Number of Tranche \| Tranche			2
Purchase price per share \| $ / shares		$ 17.36
Initial fair value of derivative		$ 33,194
Transaction cost related to former parent investment		15,217
Volatility rate			81.16%	71.26%
Share price \| $ / shares			$ 2.7	$ 6.4
Risk free rate			4.63%	5.54%
Expected dividend rate			0%	0%
Remaining investment.		$ 650,000
Acquisition percentage			100%
Loan extension period			20 years
Product volumes			38%
Term of Agreement			20 years
Gain loss of change in fair value of derivative			$ 138	$ 32,824
Old lac [member] \| Tranche Two [Member]
Volatility rate		58.34%
Share price \| $ / shares		$ 21.99
Risk free rate		4.77%
Expected dividend rate		0%
share price [member] \| Tranche Two [Member]
Change in percentage			10%
share price [member] \| Top of range [member] \| Tranche Two [Member]
Decrease percentage of derivative value			24%
share price [member] \| Bottom of range [member] \| Tranche Two [Member]
Decrease percentage of derivative value			20%

Agreements with General Motor_3

Agreements with General Motors - Schedule of Change in the value of derivative agreement (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Equity [abstract]
On initial recognition as at January 30, 2023	$ (348)	$ (33,194)
Gain on change in fair value	138	32,846
As at September 30, 2024	$ (210)	$ (348)

Leases and Other Liabilities -

Leases and Other Liabilities - Summary of Leases and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Disclosure of quantitative information about leases and other liabilities [line items]
Current Portion of Leases	$ 1,241	$ 854
Lease liabilities	3,066	3,113
Mining contractor liability	3,500	3,500
Other liabilities	6,566	6,613
Office leases [member]
Disclosure of quantitative information about leases and other liabilities [line items]
Lease liabilities	1,182	1,199
Vehicles and equipment leases [Member]
Disclosure of quantitative information about leases and other liabilities [line items]
Lease liabilities	36	69
Land lease [member]
Disclosure of quantitative information about leases and other liabilities [line items]
Lease liabilities	$ 1,848	$ 1,845

Leases and Other Liabilities _2

Leases and Other Liabilities - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) Instalments	Dec. 31, 2023 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Disclosure of detailed information about other liabilities [line Items]
Mining contractor liability	$ 3,500	$ 3,500
Success fee payable upon achieving commercial mining milestones.	4,675
Repayment amount upon failing to achieve commercial mining milestones	$ 3,500
Land lease [member]
Disclosure of detailed information about other liabilities [line Items]
Leases useful life	40 years
Office Space, Vehicles, and Equipment [Member] \| Bottom of range [member]
Disclosure of detailed information about other liabilities [line Items]
Leases useful life	2 years
Office Space, Vehicles, and Equipment [Member] \| Top of range [member]
Disclosure of detailed information about other liabilities [line Items]
Leases useful life	5 years
Thacker Pass [Member]
Disclosure of detailed information about other liabilities [line Items]
Number Of Instalments \| Instalments	7
Mining contractor liability	$ 3,500		$ 2,000	$ 1,500

Share Capital and Equity Comp_3

Share Capital and Equity Compensation - Additional Information (Details) $ / shares in Units, shares in Thousands, $ in Thousands			3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 22, 2024 USD ($) $ / shares shares	Oct. 03, 2023 $ / shares shares	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Mar. 31, 2024 shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Operating expense			$ 5,681	$ 3,187	$ 17,370	$ 13,866
Ordinary shares [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares issued \| shares		160,048	218,294		218,294		161,778
Number of shares outstanding \| shares		160,048	218,294		218,294		161,778
DSUs [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares issued \| shares		225
Number shares granted \| shares					99
Estimated fair value			$ 435		$ 435
RSUs [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares issued \| shares		2,171						642
Number shares granted \| shares					1,936		670
Estimated fair value			9,337		$ 9,337		$ 3,204
Unrecognized compensation cost related to unvested share based compensation arrangements					6,009		2,346
Fair value of share units recorded as a share-based payments expense					2,819
Operating expense							70
Capitalized for thacker pass project			1,851		$ 1,851		951
Per share value of rearrangement \| $ / shares		$ 0.87
PSUs [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares issued \| shares		1,037
Number shares granted \| shares					442
Estimated fair value			2,793		$ 2,793		621
Unrecognized compensation cost related to unvested share based compensation arrangements					3,723		558
Fair value of share units recorded as a share-based payments expense					1,065
Operating expense							27
Capitalized for thacker pass project			$ 179		$ 179		$ 156
Underwritten public offering [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares issued \| shares	55,000
Issue price \| $ / shares	$ 5
Gross proceeds from public offering	$ 275,000
Net proceeds from offering	$ 262,000

Share Capital and Equity Comp_4

Share Capital and Equity Compensation - Summary of Changes to the Number of Shares Outstanding (Details) - shares shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
RSUs [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares outstanding beginning balance	1,650
Issued on separation		2,171
Converted into shares	(1,138)	(1,191)
Granted	1,936	670
Cancelled	(39)
Number of shares outstanding ending balance	2,409	1,650
DSUs [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares outstanding beginning balance	95
Issued on separation		225
Converted into shares		(130)
Granted	99
Number of shares outstanding ending balance	194	95
PSUs [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares outstanding beginning balance	628
Issued on separation		1,037
Converted into shares	(377)	(409)
Granted	442
Number of shares outstanding ending balance	693	628

Related Party Transactions - Su

Related Party Transactions - Summary of Compensation of Directors and Key Management (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related party transactions [abstract]
Salaries, bonuses, benefits and directors' fees included in the Consolidated Statements of Comprehensive Loss	$ 925	$ 292	$ 2,804	$ 1,392
Salaries, bonuses and benefits included in PP&E	0	234	0	234
Equity compensation	930	331	2,757	1,590
Total for the year ended	1,855	$ 857	5,561	$ 3,216
Total due to directors and key management	$ 230		$ 230		$ 2,376

General and Administrative Ex_3

General and Administrative Expenses - Summary of Company's General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disclosure of attribution of expenses by nature to their function [line items]
General and administrative expenses	$ 4,392	$ 2,667	$ 13,486	$ 8,025
Salaries, Benefits and Directors Fees
Disclosure of attribution of expenses by nature to their function [line items]
General and administrative expenses	2,061	1,077	6,638	3,028
Office and Professional Fees
Disclosure of attribution of expenses by nature to their function [line items]
General and administrative expenses	1,771	1,310	4,837	4,018
Regulatory and Filing Fees
Disclosure of attribution of expenses by nature to their function [line items]
General and administrative expenses	142	161	600	622
Investor and Government Relations
Disclosure of attribution of expenses by nature to their function [line items]
General and administrative expenses	340	61	1,246	199
Depreciation
Disclosure of attribution of expenses by nature to their function [line items]
General and administrative expenses	$ 78	$ 58	$ 165	$ 158

Exploration and Evaluation Ex_3

Exploration and Evaluation Expenditures - Summary of Company's Exploration and Evaluation Expenditures (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]
Exploration and evaluation expenditures	$ 0	$ 0	$ 0	$ 3,764,000
Consulting and salaries [member]
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]
Exploration and evaluation expenditures	0	0	0	2,406,000
Engineering [member]
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]
Exploration and evaluation expenditures	0	0	0	782,000
Permitting and environmental [member]
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]
Exploration and evaluation expenditures	0	0	0	268,000
Field supplies and other [member]
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]
Exploration and evaluation expenditures	0	0	0	14,000
Depreciation [member]
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]
Exploration and evaluation expenditures	0	0	0	196,000
Drilling and geological expenses [member]
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]
Exploration and evaluation expenditures	$ 0	$ 0	$ 0	$ 98,000

Transactions Costs - Summary Of

Transactions Costs - Summary Of Transactions Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Trading income (expense) [abstract]
DOE Loan due diligence costs	$ 1,254	$ 1,454	$ 2,964	$ 1,942
Other financing activities	4,807	0	5,278	0
Separation cost allocation	0	1,012	0	4,652
General Motors investment	0	63	0	2,765
Total transactions costs	$ 6,061	$ 2,529	$ 8,242	$ 9,359

Finance Costs - Summarizes the

Finance Costs - Summarizes the Company's Finance Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Finance Costs [abstract]
Finance costs	$ 10	$ 0	$ 17	$ 335

Finance and Other Income - Summ

Finance and Other Income - Summary of Finance and Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Finance and other income [abstract]
Interest earned on cash deposits	$ 4,955	$ 0	$ 11,230	$ 0
Other	0	(70)	(199)	(18)
Finance and Other Income	$ 4,955	$ (70)	$ 11,031	$ (18)

Segmented Information - Additio

Segmented Information - Additional Information (Details)	9 Months Ended
Segmented Information - Additional Information (Details)	Sep. 30, 2024 Segment
Disclosure of operating segments [abstract]
Number of operating segment	1

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of supplemental cash flow information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental cash flow [abstract]
Interest received on cash deposits	$ 10,806	$ 0
Interest paid	$ 149	$ 136

Financial Instruments - Summary

Financial Instruments - Summary of the contractual maturities of the Company's financial liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable and accrued liabilities	$ 23,703	$ 23,361
Obligations under office leases	2,519
Obligations under land leases	5,100
Other obligations	3,587
Financial liabilities on undiscounted basis ,Total	34,909
Later than one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable and accrued liabilities	23,703
Obligations under office leases	321
Obligations under land leases	17
Other obligations	13
Financial liabilities on undiscounted basis ,Total	24,054
Later than one year and not later than two years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable and accrued liabilities	0
Obligations under office leases	1,217
Obligations under land leases	70
Other obligations	3,551
Financial liabilities on undiscounted basis ,Total	4,838
Later than two years and not later than three years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable and accrued liabilities	0
Obligations under office leases	829
Obligations under land leases	73
Other obligations	23
Financial liabilities on undiscounted basis ,Total	925
Later than three years and later [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable and accrued liabilities	0
Obligations under office leases	152
Obligations under land leases	4,940
Other obligations	0
Financial liabilities on undiscounted basis ,Total	$ 5,092

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) $ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 CAD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	$ 341,163	$ 581	$ 195,516	$ 200,499	$ 636
Current liabilities	$ 25,154		$ 24,563
Average foreign exchange rate	10
Net foreign exchange gain (loss)	$ 58
Credit risk [member]
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	341,163
Current liabilities	$ 25,154

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - USD ($) $ in Thousands			9 Months Ended
	Oct. 28, 2024	Oct. 15, 2024	Sep. 30, 2024
Disclosure of non-adjusting events after reporting period [line items]
Ownership stake			100%
Subsequents Events [member]
Disclosure of non-adjusting events after reporting period [line items]
Method used to account for investments in joint ventures		GM has agreed to extend its existing Offtake Agreement for up to 100% of production volumes from Phase 1 of Thacker Pass to 20 years to support the expected maturity of the DOE Loan. Upon closing of the JV, GM will also enter into an additional 20-year offtake agreement for up to 38% of Phase 2 production volumes and will retain its existing ROFO on the remaining Phase 2 production volumes.
Subsequents Events [member] \| U S Department of Energy [member]
Disclosure of non-adjusting events after reporting period [line items]
Letter of credit facility	$ 195
Repayment of loan commitments	2,260,000
Additional fee	5,000
Financial advisory fees	$ 7,500
Subsequents Events [member] \| GM Investment Agreement [Member]
Disclosure of non-adjusting events after reporting period [line items]
Joint ventures transaction with cash and letter of credit		$ 625,000
Ownership stake		38%