Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2018 | |
Document And Entity Information [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q3 |
Trading Symbol | LAC |
Entity Registrant Name | LITHIUM AMERICAS CORP. |
Entity Central Index Key | 1,440,972 |
Current Fiscal Year End Date | --12-31 |
Condensed Consolidated Interim
Condensed Consolidated Interim Statements of Financial Position (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 25,950 | $ 55,394 |
Restricted cash | 833 | 833 |
Receivables, prepaids and deposits | 1,750 | 1,017 |
Deferred financing and transaction costs | 2,722 | 1,888 |
Organoclay inventories | 1,394 | 2,086 |
Total current assets | 32,649 | 61,218 |
NON-CURRENT ASSETS | ||
Restricted cash | 150 | 983 |
Loans to Joint Venture | 25,239 | 11,479 |
Investment in Joint Venture | 29,811 | 19,637 |
Property, plant and equipment | 17,488 | 18,070 |
Exploration and evaluation assets | 2,768 | 2,104 |
Total non-current assets | 75,456 | 52,273 |
TOTAL ASSETS | 108,105 | 113,491 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 3,572 | 3,546 |
Current portion of long-term borrowings | 243 | 178 |
Total current liabilities | 3,815 | 3,724 |
LONG-TERM LIABILITIES | ||
Long-term borrowings | 10,553 | 751 |
Decommissioning provision | 249 | 249 |
Total long-term liabilities | 10,802 | 1,000 |
TOTAL LIABILITIES | 14,617 | 4,724 |
SHAREHOLDERS’ EQUITY | ||
Share capital | 197,918 | 197,390 |
Contributed surplus | 25,392 | 20,812 |
Accumulated other comprehensive loss | (1,852) | (114) |
Deficit | (127,970) | (109,321) |
TOTAL SHAREHOLDERS’ EQUITY | 93,488 | 108,767 |
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | $ 108,105 | $ 113,491 |
Condensed Consolidated Interi_2
Condensed Consolidated Interim Statements of Comprehensive Loss (Unaudited) (Details) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income Statement [Abstract] | ||||
ORGANOCLAY SALES | $ 1,420 | $ 1,059 | $ 3,371 | $ 3,838 |
COST OF SALES | ||||
Production costs | (1,614) | (1,416) | (4,238) | (4,295) |
Depreciation | (395) | (159) | (760) | (705) |
Total cost of sales | (2,009) | (1,575) | (4,998) | (5,000) |
GROSS LOSS | (589) | (516) | (1,627) | (1,162) |
EXPENSES | ||||
Exploration expenditures | (3,718) | (1,231) | (7,323) | (2,623) |
Organoclay research and development | (149) | (110) | (423) | (318) |
General and administrative | (1,651) | (2,762) | (7,555) | (5,334) |
Share of loss in Joint Venture | (1) | 776 | (271) | (4,452) |
Stock-based compensation | (938) | (7,139) | (3,897) | (9,729) |
Total expenses | (6,457) | (10,466) | (19,469) | (22,456) |
OTHER ITEMS | ||||
Foreign exchange (loss)/gain | (722) | (2,347) | 1,523 | (4,157) |
Other income | 335 | 570 | 924 | 330 |
Total other items | (387) | (1,777) | 2,447 | (3,827) |
NET LOSS | (7,433) | (12,759) | (18,649) | (27,445) |
OTHER COMPREHENSIVE LOSS ITEMS THAT MAY BE RECLASSIFIED SUBSEQUENTLY TO NET LOSS | ||||
Unrealized gain/(loss) on translation to reporting currency | 773 | 2,212 | (1,738) | 3,709 |
TOTAL COMPREHENSIVE LOSS | $ (6,660) | $ (10,547) | $ (20,387) | $ (23,736) |
LOSS PER SHARE - BASIC AND DILUTED | $ (0.08) | $ (0.15) | $ (0.21) | $ (0.38) |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED | 88,616 | 86,065 | 88,560 | 71,790 |
Condensed Consolidated Interi_3
Condensed Consolidated Interim Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Total | Share Capital | Contributed Surplus | Accumulated Other Comprehensive Loss | Deficit | |
Beginning balance at Dec. 31, 2016 | $ 42,423 | $ 108,670 | $ 11,948 | $ (2,124) | $ (76,071) | |
Beginning balance, Shares at Dec. 31, 2016 | [1] | 60,373 | ||||
Shares issued on exercise of stock options | 627 | $ 1,438 | (811) | |||
Shares issued on exercise of stock options, shares | [1] | 711 | ||||
Shares issued on exercise of warrants | 4,396 | $ 4,604 | (208) | |||
Shares issued on exercise of warrants, shares | [1] | 1,343 | ||||
Shares issued on conversion of RSUs | 18 | $ 1,545 | (1,527) | |||
Shares issued on conversion of RSUs, shares | [1] | 513 | ||||
Shares issued on conversion of DSUs | $ 142 | (142) | ||||
Shares issued on conversion of DSUs, shares | [1] | 41 | ||||
DSUs issued in lieu of directors fees | 256 | 256 | ||||
RSUs issued in lieu of accrued liabilities | 97 | 97 | ||||
Shares issued for equity financing | 80,999 | $ 80,999 | ||||
Shares issued for equity financing, shares | [1] | 25,000 | ||||
Share issuance costs | (1,755) | $ (1,755) | ||||
Stock-based compensation | 9,729 | 9,729 | ||||
Net loss | (27,445) | (27,445) | ||||
Other comprehensive income | 3,709 | 3,709 | ||||
Ending balance at Sep. 30, 2017 | 113,054 | $ 195,643 | 19,342 | 1,585 | (103,516) | |
Ending balance, Shares at Sep. 30, 2017 | [1] | 87,981 | ||||
Beginning balance at Dec. 31, 2017 | 108,767 | $ 197,390 | 20,812 | (114) | (109,321) | |
Beginning balance, Shares at Dec. 31, 2017 | [1] | 88,479 | ||||
DSUs issued in lieu of directors fees | 370 | 370 | ||||
RSUs issued in lieu of accrued liabilities | 772 | 772 | ||||
Shares issued on conversion of restricted shares and exercise of options | 4 | $ 528 | (524) | |||
Shares issued on conversion of restricted shares and exercise of options, shares | [1] | 190 | ||||
Stock-based compensation | 3,962 | 3,962 | ||||
Net loss | (18,649) | (18,649) | ||||
Other comprehensive income | (1,738) | (1,738) | ||||
Ending balance at Sep. 30, 2018 | $ 93,488 | $ 197,918 | $ 25,392 | $ (1,852) | $ (127,970) | |
Ending balance, Shares at Sep. 30, 2018 | [1] | 88,669 | ||||
[1] | Share consolidation. Effective November 8, 2017, the Company implemented a consolidation of its outstanding common shares on the basis of one new common share for every five outstanding common shares (Note 2). The number of shares in the table is presented on a post-consolidation basis. |
Condensed Consolidated Interi_4
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
OPERATING ACTIVITIES | ||
Net loss | $ (18,649) | $ (27,445) |
Items not affecting cash: | ||
Stock-based compensation | 3,997 | 9,729 |
Depreciation | 945 | 827 |
Foreign exchange (gain)/loss | (1,523) | 4,157 |
Share of loss in Joint Venture | 271 | 4,452 |
Inventories write down | 203 | 332 |
Other expense | 514 | 322 |
Changes in non-cash working capital items: | ||
Increase in receivables, prepaids and deposits | (568) | (581) |
Decrease/(increase) in inventories | 554 | (364) |
Increase in accounts payable and accrued liabilities | 383 | 685 |
Net cash used in operating activities | (13,873) | (7,886) |
INVESTING ACTIVITIES | ||
Loans to Joint Venture (Note 4) | (12,500) | (11,000) |
Contribution to Joint Venture (Note 4) | (10,747) | (238) |
Additions to exploration and evaluation assets | (664) | (495) |
Escrow deposit | 833 | 833 |
Additions to property, plant and equipment | (309) | (750) |
Net cash used in investing activities | (23,387) | (11,650) |
FINANCING ACTIVITIES | ||
Proceeds from stock option exercises | 4 | 627 |
Proceeds from warrant exercises | 4,396 | |
Drawdowns from the credit facility | 10,000 | |
Debt financing costs paid | (1,834) | |
Net proceeds from equity financing (Note 7) | 79,325 | |
Finance lease repayments | (139) | (126) |
Net cash provided by financing activities | 8,031 | 84,222 |
EFFECT OF FOREIGN EXCHANGE ON CASH | (215) | 466 |
CHANGE IN CASH AND CASH EQUIVALENTS | (29,444) | 65,152 |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 55,394 | 8,056 |
CASH AND CASH EQUIVALENTS - END OF PERIOD | $ 25,950 | $ 73,208 |
Nature of Operations
Nature of Operations | 9 Months Ended |
Sep. 30, 2018 | |
Nature Of Operations [Abstract] | |
Nature of Operations | 1. NATURE OF OPERATIONS Lithium Americas Corp. (“Lithium Americas” or the “Company”) is a Canadian based resource company focused on advancing two significant lithium projects, the Cauchari-Olaroz project, located in Jujuy province of Argentina, and the Thacker Pass project (formerly Stage 1 of the Lithium Nevada project), located in north-western Nevada, USA, and on the manufacturing and sales of organoclay products. The Company’s organoclay plant located in Fernley, Nevada, USA manufactures specialty organoclay products, derived from clays, for sale to the oil and gas and other sectors. The Company’s common shares are listed on the Toronto Stock Exchange and the New York Stock Exchange under the symbol "LAC". The Company’s head office and principal address is Suite 1150-355 Burrard Street, Vancouver, British Columbia, Canada, V6C 2G8. The Company’s registered and records office is 2200-885 West Georgia Street, Vancouver, British Columbia, Canada, V6C 3E8. To date, the Company has not generated significant revenues from operations and has relied on equity and other financings to fund operations. The underlying values of exploration and evaluation assets and the investment in joint venture are dependent on the existence of economically recoverable reserves, securing and maintaining title and beneficial interest in the properties, the ability of the Company to obtain the necessary financing to complete permitting, development, and to attain future profitable operations. |
Basis of Preparation and Presen
Basis of Preparation and Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Basis Of Preparation And Presentation [Abstract] | |
Basis of Preparation and Presentation | 2. BASIS OF PREPARATION AND PRESENTATION These condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) applicable to the preparation of interim financial statements, including International Accounting Standard (“IAS”) 34, Interim Financial Reporting. The condensed consolidated interim financial statements should be read in conjunction with the annual consolidated financial statements for the year ended December 31, 2017, which have been prepared in accordance with IFRS as issued by the IASB. These condensed consolidated interim financial statements are expressed in US dollars, the Company’s presentation currency, and have been prepared on a historical cost basis. The Company has used the same accounting policies and methods of computation as in the annual consolidated financial statements for the year ended December 31, 2017, except as for the changes disclosed in note 3. As authorized by its shareholders, the Company implemented a consolidation of its outstanding common shares effective from November 8, 2017 on the basis of one new common share for every five outstanding common shares. The share consolidation affected all issued and outstanding common shares, stock options, restricted share units and deferred share units. All information relating to basic and diluted earnings per share, issued and outstanding common shares, stock options, restricted share units, deferred share units and per share amounts in these consolidated financial statements have been adjusted retrospectively to reflect the share consolidation. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | 3. SIGNIFICANT ACCOUNTING POLICIES Newly adopted accounting standards and amendments IFRS 9, Financial Instruments (“IFRS 9”), addresses the classification, measurement and recognition of financial assets and financial liabilities. 3. SIGNIFICANT ACCOUNTING POLICIES (continued) Newly adopted accounting standards and amendments (continued) It replaces the guidance in International Accounting Standard (“IAS”) 39 that relates to the classification and measurement of financial instruments. IFRS 9 retains but simplifies the mixed measurement model and establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit and loss (“FVTPL”). There is now a new expected credit losses model that replaces the incurred loss impairment model used in IAS 39. For financial liabilities there were no changes to classification and measurement except for the recognition of changes in own credit risk in OCI, for liabilities designated as FVTPL. The standard is effective for accounting periods beginning on or after January 1, 2018. The Company applied IFRS 9 retrospectively; however, the adoption of IFRS 9 did not require any adjustments to the classification or measurement of the Company’s financial assets and financial liabilities. The adoption of the new expected credit loss model under IFRS 9 had a negligible impact on the carrying amount of our financial assets on the transition date given the Company has no history of bad debt expenses. IFRS 15, Revenue from Contracts with Customers (“IFRS 15”), deals with revenue recognition and establishes principles for reporting useful information to users of financial statements about the nature, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. Under IFRS 15, revenue is recognized when a customer obtains control of a good or service and thus has the ability to direct the use and obtain the benefits from the good or service. The standard replaces IAS 18, Revenue, and IAS 11, Construction Contracts, and related interpretations. The standard is effective for annual periods beginning on or after January 1, 2018. The Company elected to apply IFRS 15 using a modified retrospective approach; however, the adoption of IFRS 15 resulted in no impact on the financial statements of the Company, as the timing of revenue recognition was unchanged. Accounting standards and amendments issued but not yet adopted IFRS 16, Leases (“IFRS 16”), was issued in January 2016 by the IASB. According to the new standard, all leases will be on the statement of financial position of lessees, except those that meet the limited exception criteria. The standard is effective for annual periods beginning on or after January 1, 2019. The Company is currently evaluating the effect the standard will have on its consolidated financial statements. Critical Accounting Estimates and Judgements The preparation of these condensed consolidated interim financial statements in conformity with IFRS applicable to the preparation of interim financial statements requires judgments, estimates, and assumptions that affect the amounts reported. Those estimates and assumptions concerning the future may differ from actual results. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The significant estimates and judgements made by management in applying the Company’s accounting policies and the key sources of estimation uncertainty were substantially the same as those that applied to the consolidated financial statements as at and for the year ended December 31, 2017, other than below. 3. SIGNIFICANT ACCOUNTING POLICIES (continued) Functional currency Items included in the financial statements of each of the Company’s subsidiaries and joint ventures are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). Effective January 1, 2018, the functional currency of the Minera Exar Joint Venture (“Minera Exar”) was changed from the Argentine peso to the US dollar as a result of the start of significant construction activities, denominated mainly in US dollars, adoption of the construction budget and in anticipation of the US dollar denominated indebtedness to be undertaken by Minera Exar in 2018 to finance the construction. |
Joint Venture
Joint Venture | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Joint Ventures [Abstract] | |
Joint Venture | 4. JOINT VENTURE On March 28, 2016, the Company entered into an agreement with SQM POTASIO S.A. (SQM) to form a 50/50 joint venture on the Cauchari-Olaroz project in Jujuy, Argentina (“Joint Venture”). Subsequent to the period end, SQM disposed of its interest in the Joint Venture to Ganfeng and the Company’s interest in the Joint Venture was increased to 62.5%. Note 15. Effective July 1, 2017, the Joint Venture’s Cauchari-Olaroz project entered the development phase. Accordingly, all costs directly attributable to the project are capitalized. The changes in investment in the Joint Venture since initial contribution are as follows: Investment in Joint Venture – December 31, 2016 13,136 Share of loss of Joint Venture (4,850 ) Translation adjustment (2,127 ) Contribution to Joint Venture by LAC 13,717 Elimination of unrealized interest on loans to Joint Venture (239 ) Investment in Joint Venture – December 31, 2017 19,637 Share of loss of Joint Venture (271 ) Contribution to Joint Venture by LAC 11,074 Elimination of unrealized interest on loans to Joint Venture (629 ) Investment in Joint Venture – September 30, 2018 29,811 Loans to Joint Venture The Company has entered into the following loan agreements with Minera Exar, terms of which are summarized below: $ Loans granted in 2017, maturity 7 years, interest rate LIBOR+7.57% 11,000 Loans granted in 2018, maturity 7 years, interest rate LIBOR+7.57% 12,500 Accrued interest 1,739 Loans to Joint Venture 25,239 The interest on the loans is accrued semi-annually on a non–compounding basis. The proceeds from the loans were used by Minera Exar for mining exploration or mining construction and development purposes. Note 15. 4. JOINT VENTURE (continued) Joint Venture Commitments and Contingencies As at September 30, 2018, the Company’s 50% portion of the Joint Venture’s commitments and contingencies are as follows: • Annual royalty of $100 due in May of every year and expiring in 2041; • Aboriginal programs agreements with six communities located in the Cauchari-Olaroz project area which have terms from five to thirty years. The annual fees due are $88 between 2018 and 2021 and $131 between 2021 and 2059, assuming that these payments will be extended for the life of the project. These payments will be incurred only if the Joint Venture starts production; and • Commitments related to a contract for construction of ponds of $19,747. Los Boros Option Agreement On September 11, 2018 the Joint Venture exercised a purchase option agreement (“Option Agreement”) with Grupo Minero Los Boros (“Los Boros”), entered into on March 28, 2016, for the transfer of title to the Joint Venture for certain mining properties that comprised a portion of the Cauchari-Olaroz project. Under the terms of the Option Agreement, the Joint Venture paid $100 upon signing and exercised the purchase option for the total consideration of $12,000 to be paid in sixty quarterly instalments of $200. The first installment becomes due upon occurrence of one of the following two conditions, whichever comes first: the third anniversary of the purchase option exercise date or the beginning of commercial exploitation with a minimum production of 20,000 tons of lithium carbonate equivalent. As security for the transfer of title for the mining properties under the Option Agreement, Los Boros granted a mortgage to the Joint Venture for $12,000. According to the Option Agreement, the following royalties will have to be paid to Los Boros by the Joint Venture: • $300 within 10 days of the commercial plant construction start date; and • 3% net profit interest for 40 years, payable in pesos, annually within the 10 business days after calendar year end. The Joint Venture can cancel the first 20 years of net profit interest in exchange for a one-time payment of $7,000 and the next 20 years for an additional payment of $7,000. JEMSE Arrangement During 2012 Minera Exar granted a conditional right to Jujuy Energia y Mineria Sociedad del Estado (“JEMSE”), a mining investment company owned by the government of Jujuy Province in Argentina, to acquire an 8.5% equity interest in Minera Exar for one US dollar and provide management services as required to develop the project. If |
Property Plant and Equipment
Property Plant and Equipment | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Property Plant and Equipment | 5. PROPERTY, PLANT AND EQUIPMENT Land Buildings Equipment and machinery Organoclay plant Other Total $ $ $ $ $ $ Cost As at December 31, 2016 386 2,141 5,156 11,495 382 19,560 Additions - 2 805 - 254 1,061 Write down - - (399 ) - - (399 ) As at December 31, 2017 386 2,143 5,562 11,495 636 20,222 Additions - - 142 - 178 320 As at September 30, 2018 386 2,143 5,704 11,495 814 20,542 Land Buildings Equipment and machinery Organoclay plant Other Total $ $ $ $ $ $ Accumulated depreciation As at December 31, 2016 - 76 447 431 104 1,058 Depreciation for the year - 107 366 575 76 1,124 Disposition - - (30 ) - - (30 ) As at December 31, 2017 - 183 783 1,006 180 2,152 Depreciation for the period - 80 299 431 92 902 As at September 30, 2018 - 263 1,082 1,437 272 3,054 Land Buildings Equipment and machinery Organoclay plant Other Total $ $ $ $ $ $ Net book value As at December 31, 2017 386 1,960 4,779 10,489 456 18,070 As at September 30, 2018 386 1,880 4,622 10,058 542 17,488 |
Long Term Borrowings
Long Term Borrowings | 9 Months Ended |
Sep. 30, 2018 | |
Borrowings [Abstract] | |
Long -Term Borrowings | 6. LONG-TERM BORROWINGS September 30, As at December 31, 2018 $ 2017 $ Current portion of long-term borrowings Promissory note 132 130 Obligation under finance leases 41 48 Accrued interest 69 - 243 178 Long-term borrowings Promissory note 603 703 Credit facility 9,909 - Obligation under finance leases 42 48 10,553 751 10,796 929 Credit Facility In the quarter ended September 30, 2018, the Company received $10,000 (net of $91 of financing costs) from its drawdowns of the $205 million credit facility (Note 7). The credit facility has a term of six years from each draw down, with an interest rate of 8.0% for the first three years that increases to 8.5% in year four, 9.0% in year five and 9.5% in year six. Note 15. Promissory Note In July 2013, the Company purchased an industrial complex in the City of Fernley, Nevada, to be the production site for its organoclay plant. The property was purchased for $1,575, of which $236 was paid at the close of the transaction, and the remaining balance of $1,339 was financed by the seller with a ten-year promissory note payable in monthly instalments. The promissory note bears 7% annual interest. Security provided for the promissory note includes a mortgage charge against the purchased property. |
Issued Capital and Equity Incen
Issued Capital and Equity Incentive Plan | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |
Issued Capital, Equity Compensation and Warrants | 7. ISSUED CAPITAL AND EQUITY INCENTIVE PLAN Ganfeng and Bangchak Investment Agreements During the year ended December 31, 2017, the Company completed the closing of the investment agreement (the “Ganfeng Investment Agreement”) with GFL International Co., Ltd. (“Ganfeng”) and the investment agreement (the “Bangchak Investment Agreement”) with The Bangchak Petroleum Public Company Limited (“Bangchak”) through its wholly-owned subsidiary, BCP Innovation Pte Ltd (“BCPI”) for funding to advance the construction of the Cauchari-Olaroz lithium project in Jujuy, Argentina. Pursuant to these agreements, each of Ganfeng and Bangchak agreed to co-invest in the Company through a mixture of equity subscriptions and debt financing. The investment agreements consisted of four key components: • An equity financing by each of Ganfeng and Bangchak. Ganfeng subscribed for 15,000 common shares while BCP subscribed for 10,000 common shares at a price of CDN$4.25 per common share, for gross proceeds of approximately CDN$106,000 ($80,999). 7. ISSUED CAPITAL AND EQUITY INCENTIVE PLAN (continued) • A $205,000 credit facility. Under this agreement, each of Ganfeng and Bangchak have committed to advance $125,000 and $80,000 respectively, with proceeds to be used to fund the Company’s share of project development contributions for Stage 1 of the Cauchari-Olaroz project. • Off-take entitlements in favour of Ganfeng and Bangchak for the purchase of up to 80% and 20% respectively, of the Company’s share of Cauchari-Olaroz Project Stage 1 lithium carbonate production at market prices. The off-take agreements each have a term of 20 years following commencement of commercial production. • Investor Rights Agreement. The Company entered into an Investor Rights Agreement with each of Ganfeng and Bangchak. Pursuant to these agreements, Ganfeng and Bangchak each have the right to nominate one individual to the board of directors of the Company so long as they maintain a 15% or more interest in the Company’s issued share capital. Each of Ganfeng and Bangchak have a participation right in connection with future financings to maintain a 17.5% interest and 16.4% interest respectively, so long as they maintain a 15% or more interest in the Company’s issued share capital. The parties settled relevant agreements and satisfied all conditions over the course of the first half of 2017, and on July 14, 2017, completed the remaining equity subscriptions and entered into definitive agreements. Certain subsidiaries of the Company provided guarantees to both lenders, Bangchak and Ganfeng, in connection with the debt facility. In 2017 financing costs of $1,755, related to the equity portion of the Ganfeng and Bangchak financings, were recorded as share issuance costs. Financing costs of $1,809, incurred in 2017 and 2018 and related to the debt portion of the Ganfeng and Bangchak financings, remain deferred and included in receivables, prepaids, and deposits and will be amortized over the terms of the loans. $99 of these costs are included in accounts payable and accrued liabilities on September 30, 2018. Equity Incentive Plan The Company has an equity incentive plan (“Plan”) in accordance with the policies of the TSX whereby, from time to time, at the discretion of the Board of Directors, eligible directors, officers, employees and consultants are: (1) granted incentive stock options exercisable to purchase common shares (“Stock Options”); (2) awarded restricted share units (“RSUs”) and restricted share rights – performance share units (“PSUs”) that convert automatically into common shares upon vesting; and (3) for eligible directors, awarded deferred share units (“DSUs”) which the directors are entitled to redeem for common shares upon retirement or termination from the Board. Under the Plan, common shares reserved for issuance of Stock Options, RSUs, PSUs and DSUs shall not exceed 10% of the outstanding shares from time to time. The exercise price of each stock option is based on the fair market price of the Company’s common shares at the time of the grant. The options can be granted for a maximum term of five years. Restricted Share Units During the nine months ended September 30, 2018, the Company granted 236 RSUs to its employees. The total estimated fair value of the RSUs was $1,009 based on the market value of the Company’s shares on the grant date. The fair value of 197 RSUs that were granted in lieu of accrued bonuses was recorded as a reduction of accrued liabilities and the fair value of the remaining 39 RSUs granted are being recorded as a share-based payments expense and charged to operating expenses over the vesting period. As at September 30, 2018, $112 of the fair value of RSUs previously granted but not yet vested remains to be expensed in fiscal 2018, $207 in 2019 and $30 in 2020. During the nine months ended September 30, 2018, stock-based compensation expense related to RSUs of $832 was charged to operating expenses (2017 - $6,713). 7. ISSUED CAPITAL AND EQUITY INCENTIVE PLAN (continued) A summary of changes to the number of restricted shares is as follows: Balance, RSUs December 31, 2016 490 Granted 1,589 Converted into common shares (521 ) Cancelled (8 ) Balance, RSUs December 31, 2017 1,550 Converted into common shares (117 ) Granted 236 Balance, RSUs September 30, 2018 1,669 Restricted Shares – Performance share units (“PSUs”) On August 21, 2018 the Company granted 699 PSUs to its officers and employees. All PSUs vest on the third anniversary of The PSUs are earned on the basis of Total Shareholder Return (“TSR”) relative to the return of the peer companies over four weighted performance periods: - 20% will be earned based on TSR during year 1 of the performance period (first year following the grant date); - 20% will be earned based on TSR during year 2 of the performance period (second year following the grant date); - 20% will be earned based on TSR during year 3 of the performance period (third year following the grant date); - 40% will be earned based on TSR during years 1-3 of the performance period (first, second and third years following the grant date). The number of shares issued upon vesting of PSUs depends on the performance of the Company shares compared to the peer group of companies and can vary from zero to up to two times the number of PSUs granted. The fair value of the PSUs are estimated on the date of grant using a valuation model based on Monte Carlo simulation with the following assumptions used for the grants made during the period: 7. ISSUED CAPITAL AND EQUITY INCENTIVE PLAN (continued) August 21, 2018 Number of PSUs granted 699 Correlation coefficient between the peer group companies 13.1% Risk-free interest rate 2.7% Dividend rate 0% Annualized volatility 71.9% Peer Group average volatility 65.9% Estimated forfeiture rate 11.6% Fair value per PSU granted (CDN$) 8.50 Total fair value of PSUs granted, prior to forfeiture rate adjustment (CDN$) 5,945 As at September 30, 2018, $336 of the fair value of PSUs previously granted but not yet vested remains to be expensed in fiscal 2018, $1,344 in 2019, $1,344 in 2020, and $858 in 2021. During the nine months ended September 30, 2018, stock-based compensation expense related to PSUs of $149 was charged to operating expenses (2017 - nil). A summary of changes to the number of PSUs is as follows: Number of PSUs Balance, PSUs December 31, 2017 - Granted 699 Balance, PSUs September 30, 2018 699 Deferred Share Units During the nine months ended September 30, 2018, the Company granted 60 DSUs with the total estimated fair value of $370 to the Company’s directors in payment of directors’ fees. Number of DSUs Balance, DSUs December 31, 2016 9 Granted 73 Converted into common shares (41 ) Balance, DSUs December 31, 2017 42 Granted 60 Balance, DSUs September 30, 2018 102 7. ISSUED CAPITAL AND EQUITY INCENTIVE PLAN (continued) Stock Options During the nine months ended September 30, 2018, the Company granted a total of 90 stock options to its employees. The fair value of stock options granted are estimated on the date of grant using the Black-Scholes Option Pricing Model with the following assumptions used for the grants made during the period: January 24, 2018 Number of options granted 90 Exercise price per share (CDN$) 9.54 Risk-free interest rate 1.8% Expected life 3 Annualized volatility 73% Dividend rate 0% Fair value per stock option granted (CDN$) 4.40 Total fair value of stock options granted (CDN$) 396 Stock options outstanding and exercisable as at September 30, 2018 are as follows: Options Outstanding Options Exercisable Range of Exercise Prices CAD$ Number Outstanding as at September 30, 2018 Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price CAD$ Number Exercisable as at September 30, 2018 Weighted Average Exercise Price CAD$ $1.35 - $1.50 999 0.97 1.44 999 1.44 $1.70 - $1.90 327 0.82 1.81 327 1.81 $2.35 - $3.75 790 2.37 2.62 790 2.62 $4.80 - $5.00 1,168 3.44 4.88 889 4.88 $8.05 - $11.05 2,003 3.54 8.29 1,457 8.22 5,287 2.69 5.00 4,462 4.57 A summary of changes to stock options outstanding is as follows: Number of Options Weighted Average Exercise Price, (CDN$) Balance, outstanding December 31, 2016 3,424 2.15 Granted 3,085 7.01 Exercised (1,073 ) 2.22 Forfeited (130 ) 5.20 Balance, outstanding December 31, 2017 5,306 4.85 Granted 90 9.54 Exercised (109 ) 4.92 Balance, outstanding September 30, 2018 5,287 5.00 7. ISSUED CAPITAL AND EQUITY INCENTIVE PLAN (continued) Stock Options During the nine months ended September 30, 2018, stock-based compensation expense related to stock options of $2,916 (2017 - $3,016) |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 8. RELATED PARTY TRANSACTIONS The Company`s 50%-owned joint venture (Note 15), Minera Exar, entered into the following transactions with companies controlled by the family of its President, who is also a director of the Company: - Los Boros Option Agreement entered into with Grupo Minero Los Boros - Construction services for Cauchari-Olaroz project with Magna Construcciones S.R.L. for $1,401 during the nine months ended September 30, 2018. During the nine months ended September 30, 2018 Minera Exar paid director’s fees of $55 to its President, who is also a director of the Company. Compensation of Key Management Key management personnel include the members of the Board of Directors and the executive leadership team. Effective July 1, 2018, the Company revised the remuneration of its non-executive directors to a base annual fee of $100 per year, of which a minimum of $60 is payable in DSUs, and an additional $18 per year to the Company’s Audit Committee Chair, $13 to the Company’s other committee chairs and $5 to committee members. The Board Chairman remuneration was increased to $150, of which a minimum of $90 is payable in DSUs. In addition, the Company pays $1 per meeting in cash for Board meetings in excess of six meetings per year. The Board established a Special Committee of independent directors to oversee the Transaction with subsidiaries of SQM and Ganfeng for the Cauchari-Olaroz project. Note 15. The Company established remuneration consisting of a $10 retainer to the members of the Special Committee and $20 to the Chair. In addition, the Company will pay $1 per Special Committee meeting in excess of five meetings. 8. RELATED PARTY TRANSACTIONS (continued) The remuneration of directors and members of the executive management team consisted of: For the nine months ended September 30, 2018 $ 2017 $ Stock-based compensation 1,959 7,459 Salaries, benefits and directors’ fees included in general and administrative expenses 2,147 2,669 Salaries and benefits included in exploration expenditures 470 290 Salaries and benefits capitalized to Investment in the Joint Venture 697 75 5,273 10,493 As at September 30, As at December 31, 2018 $ 2017 $ Total due to directors and executive team 231 265 There were no contractual or other commitments arising from the related party transactions. The amounts due to related parties are unsecured, non-interest bearing and generally have no specific terms of payment. |
General and Administrative Expe
General and Administrative Expenses | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of General And Administrative Expenses [Abstract] | |
General and Administrative Expenses | 9. GENERAL AND ADMINISTRATIVE EXPENSES The following table summarizes the Company’s general and administrative expenses during the nine-month periods ended September 30, 2018 and 2017: For the nine months ended September 30, 2018 2017 $ $ Salaries, benefits and directors’ fees 3,689 3,093 Office and administration 942 498 Professional fees 934 571 Travel and conferences 616 565 Regulatory and filing fees 768 109 Marketing 412 411 Depreciation 69 32 Investor relations 125 55 7,555 5,334 |
Commitments
Commitments | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Commitments And Contingencies [Abstract] | |
Disclosure of Commitments | 10. COMMITMENTS As at September 30, 2018, the Company had the following commitments that have not been disclosed elsewhere in these condensed consolidated interim financial statements: Not later than 1 year $ Later than 1 year and not later than 5 years $ Later than 5 years $ Total $ Rent of office spaces 267 686 255 1,208 |
Exploration Expenditures
Exploration Expenditures | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Exploration Expenditures [Abstract] | |
Exploration Expenditures | 11. EXPLORATION EXPENDITURES The following tables summarize the Company’s exploration expenditures during the nine-month periods ended September 30, 2018 and 2017: For the nine months ended September 30, 2018 Lithium Nevada $ General Exploration $ Total $ Drilling 701 - 701 Permitting and environmental 2,438 - 2,438 Engineering 78 - 78 Geological and consulting 3,755 - 3,755 Field supplies, other services, and taxes 220 47 267 Lithium demo plant equipment depreciation 84 - 84 Total exploration expenditures 7,276 47 7,323 For the nine months ended September 30, 2017 Lithium Nevada $ Cauchari-Olaroz¹ $ Total $ Drilling 609 - 609 Environmental 89 - 89 Engineering 14 - 14 Geological and consulting 1,152 428 1,580 Field supplies, other services, and taxes 204 43 247 Lithium demo plant equipment depreciation 84 - 84 Total exploration expenditures 2,152 471 2,623 1 |
Segmented Information
Segmented Information | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Segmented Information | LITHIUM AMERICAS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Unaudited) (Expressed in thousands of US dollars, except for per share amounts. Shares and equity instruments in thousands.) 12. SEGMENTED INFORMATION The Company operates in three operating segments and four geographical areas. The organoclay project is in the production stage, Lithium Nevada is in the exploration stage and the Cauchari-Olaroz project is in the development stage. The Company’s reportable segments are summarized in the following tables. Organoclay $ Lithium Nevada $ Cauchari-Olaroz $ Corporate $ Total $ As at September 30, 2018 Property, plant and equipment 16,407 1,029 - 52 17,488 Exploration and evaluation assets - 2,768 - - 2,768 Total assets 18,908 4,879 29,811 54,507 108,105 Total liabilities (1,289 ) (1,861 ) - (11,467 ) (14,617 ) For the three months ended September 30, 2018 Property, plant and equipment expenditures 43 23 - - 66 Sales 1,420 - - - 1,420 Net loss 880 3,934 1 2,618 7,433 Exploration expenditures - 3,693 - 25 3,718 Depreciation 409 49 - 3 461 Organoclay research and development 149 - - - 149 For the nine months ended September 30, 2018 Property, plant and equipment expenditures 144 154 - 22 320 Sales 3,371 - - - 3,371 Net loss 2,490 8,418 271 7,470 18,649 Exploration expenditures - 7,276 - 47 7,323 Depreciation 791 144 - 8 943 Organoclay research and development 423 - - - 423 12. SEGMENTED INFORMATION (continued) Organoclay $ Lithium Nevada $ Cauchari- Olaroz $ Corporate $ Total $ As at December 31, 2017 Property, plant and equipment 17,011 1,018 - 41 18,070 Exploration and evaluation assets - 2,104 - - 2,104 Total assets 19,745 3,642 19,637 70,467 113,491 Total liabilities (1,323 ) (896 ) - (2,505 ) (4,724 ) For the three months ended September 30, 2017 Property, plant and equipment expenditures 411 74 - 3 488 Sales 1,059 - - - 1,059 Net loss 502 1,619 (776 ) 11,414 12,759 Exploration expenditures - 1,231 - 1,231 Depreciation 159 28 - 18 205 Organoclay research and development 110 - - - 110 For the nine months ended September 30, 2017 Property, plant and equipment expenditures 634 123 - 15 772 Sales 3,838 - - - 3,838 Net loss 2,187 3,103 4,452 17,703 27,445 Exploration expenditures - 2,152 471 - 2,623 Depreciation 710 84 - 33 827 Organoclay research and development 318 - - - 318 The Company’s total assets are located in the following geographical areas: Canada $ United States $ Germany $ Argentina $ Total $ Non-current assets (1) As at September 30, 2018 51 19,532 672 29,811 50,066 As at December 31, 2017 41 19,377 756 19,637 39,811 Revenue For the nine months ended September 30, 2018 - 3,371 - - 3,371 For the nine months ended September 30,2017 - 3,838 - - 3,838 Revenue For the three months ended September 30, 2018 - 1,420 - - 1,420 For the three months ended September 30,2017 - 1,059 - - 1,059 1 |
Supplemental Disclosure with Re
Supplemental Disclosure with Respect to Cash Flows | 9 Months Ended |
Sep. 30, 2018 | |
Supplemental Information With Respect To Cash Flows [Abstract] | |
Supplemental Disclosure with Respect to Cash Flows | 13. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS Supplementary disclosure of the Company’s non-cash transactions is provided in the table below: As at September 30, As at December 31, 2018 $ 2017 $ Accounts payable related to property, plant and equipment 11 28 Accounts payable related to inventories 341 197 Accounts payable related to financings 775 1,611 For the nine months ended September 30, 2018 $ 2017 $ Interest/finance charges paid 36 40 RSUs and DSUs granted in lieu of accrued liabilities and directors’ fees 1,142 353 Assets acquired under finance leases 28 - Income taxes paid - - |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial Instruments | 14. FINANCIAL INSTRUMENTS Financial instruments recorded at fair value on the consolidated statements of financial position 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 to the lowest level of the hierarchy for which a significant input has been considered in measuring fair value. The Company did not have any financial instruments measured at fair value on the statement of financial position. As at September 30, 2018, the fair value of financial instruments not measured at fair value approximates their carrying value. The Company may be exposed to risks of varying degrees of significance which could affect its ability to achieve its strategic objectives. 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 to which the Company is exposed 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, cash equivalents, restricted cash, receivables and loans to the Joint Venture. The Company’s maximum exposure to credit risk for cash, cash equivalents, restricted cash and receivables is the amount disclosed in the consolidated statements of financial position. The Company limits its exposure to credit loss by placing its cash and cash equivalents with major financial institutions and invests only in short-term obligations that are guaranteed by the Canadian government or by Canadian and US chartered banks. 14. FINANCIAL INSTRUMENTS (continued) Included in the receivables, prepaids and deposits are credit sales receivables of $953 The Company’s receivables, prepaids and deposits include an $105 bank deposit for the Company’s secured credit cards and other miscellaneous receivables that are subject to normal industry credit risk. Management believes that the credit risk concentration with respect to financial instruments included in cash, cash equivalents, restricted cash, receivables and loans to the Joint Venture is minimal. 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 ensure that it maintains sufficient reserves of cash and cash equivalents to meet its liquidity requirements in the short and long term. As the industry in which the Company operates is very capital intensive, the majority of the Company’s spending is related to its capital programs. The Company prepares annual budgets, which are regularly monitored and updated as considered necessary. As at September 30, 2018, the Company had a cash and cash equivalents balance of $25,950 (December 31, 2017 - $55,394) to settle current liabilities of $3,815 (December 31, 2017 - $3,724). The following table summarizes the maturities of the Company’s financial liabilities on an undiscounted basis: Years ending December 31, 2018 2019 2020 and later Total $ $ $ $ Credit facility¹ - 800 14,905 15,705 Accounts payable and accrued liabilities 3,572 - - 3,572 Long-term borrowing¹ 45 180 644 869 Obligation under finance leases¹ 11 31 20 62 Obligation under car lease 2 6 19 27 Total 3,630 1,017 15,588 20,235 ¹ Foreign Currency Risk The Company’s operations in foreign countries are subject of currency fluctuations and such fluctuations may affect the Company’s financial results. The Company reports its financial results in United States dollars and incurs expenditures in Canadian dollars and US dollars with the majority of the expenditures being incurred in US dollars by the Company’s subsidiaries. As at September 30, 2018, $24,426 of the Company’s $25,950 in cash and cash equivalents was held in US dollars. The Company has drawn $10,000 under its US dollar denominated credit facility as at September 30, 2018. Strengthening/(weakening) of a |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Nonadjusting Events After Reporting Period [Abstract] | |
Subsequent Events | 15. SUBSEQUENT EVENTS On October 31, 2018 the Company completed several transactions (together, the “Transaction”), pursuant to which, among other things, a subsidiary of SQM sold its interest in Minera Exar to a subsidiary of Ganfeng. As a result of the Transaction, Lithium Americas’ interest in the Caucharí-Olaroz project increased from 50% to 62.5% with Ganfeng holding the remaining 37.5% interest. Subsequent to the period end, the Company received an additional $5,000 from a drawdown of its $205,000 credit facility and provided $9,000 in loans to Minera Exar to fund the development expenditures on the Cauchari-Olaroz project. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Newly adopted accounting standards and amendments | Newly adopted accounting standards and amendments IFRS 9, Financial Instruments (“IFRS 9”), addresses the classification, measurement and recognition of financial assets and financial liabilities. Newly adopted accounting standards and amendments (continued) It replaces the guidance in International Accounting Standard (“IAS”) 39 that relates to the classification and measurement of financial instruments. IFRS 9 retains but simplifies the mixed measurement model and establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit and loss (“FVTPL”). There is now a new expected credit losses model that replaces the incurred loss impairment model used in IAS 39. For financial liabilities there were no changes to classification and measurement except for the recognition of changes in own credit risk in OCI, for liabilities designated as FVTPL. The standard is effective for accounting periods beginning on or after January 1, 2018. The Company applied IFRS 9 retrospectively; however, the adoption of IFRS 9 did not require any adjustments to the classification or measurement of the Company’s financial assets and financial liabilities. The adoption of the new expected credit loss model under IFRS 9 had a negligible impact on the carrying amount of our financial assets on the transition date given the Company has no history of bad debt expenses. IFRS 15, Revenue from Contracts with Customers (“IFRS 15”), deals with revenue recognition and establishes principles for reporting useful information to users of financial statements about the nature, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. Under IFRS 15, revenue is recognized when a customer obtains control of a good or service and thus has the ability to direct the use and obtain the benefits from the good or service. The standard replaces IAS 18, Revenue, and IAS 11, Construction Contracts, and related interpretations. The standard is effective for annual periods beginning on or after January 1, 2018. The Company elected to apply IFRS 15 using a modified retrospective approach; however, the adoption of IFRS 15 resulted in no impact on the financial statements of the Company, as the timing of revenue recognition was unchanged. |
Accounting standards and amendments issued but not yet adopted | Accounting standards and amendments issued but not yet adopted IFRS 16, Leases (“IFRS 16”), was issued in January 2016 by the IASB. According to the new standard, all leases will be on the statement of financial position of lessees, except those that meet the limited exception criteria. The standard is effective for annual periods beginning on or after January 1, 2019. The Company is currently evaluating the effect the standard will have on its consolidated financial statements. |
Critical Accounting Estimates and Judgements | Critical Accounting Estimates and Judgements The preparation of these condensed consolidated interim financial statements in conformity with IFRS applicable to the preparation of interim financial statements requires judgments, estimates, and assumptions that affect the amounts reported. Those estimates and assumptions concerning the future may differ from actual results. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The significant estimates and judgements made by management in applying the Company’s accounting policies and the key sources of estimation uncertainty were substantially the same as those that applied to the consolidated financial statements as at and for the year ended December 31, 2017, other than below. |
Functional currency | Functional currency Items included in the financial statements of each of the Company’s subsidiaries and joint ventures are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). Effective January 1, 2018, the functional currency of the Minera Exar Joint Venture (“Minera Exar”) was changed from the Argentine peso to the US dollar as a result of the start of significant construction activities, denominated mainly in US dollars, adoption of the construction budget and in anticipation of the US dollar denominated indebtedness to be undertaken by Minera Exar in 2018 to finance the construction. |
Joint Venture (Tables)
Joint Venture (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Joint Ventures [Line Items] | |
Disclosure of Change in Investments in Joint Ventures | The changes in investment in the Joint Venture since initial contribution are as follows: </p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2,127</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td>
</tr>
<tr>
<td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contribution to Joint Venture by LAC</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">13,717</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
</tr>
<tr>
<td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Elimination of unrealized interest on loans to Joint Venture</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(239</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td>
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<tr>
<td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment in Joint Venture – December 31, 2017</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19,637</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
</tr>
<tr>
<td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Share of loss of Joint Venture</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(271</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td>
</tr>
<tr>
<td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contribution to Joint Venture by LAC</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">11,074</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
</tr>
<tr>
<td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Elimination of unrealized interest on loans to Joint Venture</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(629</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td>
</tr>
<tr>
<td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment in Joint Venture – September 30, 2018</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">29,811</p></td>
<td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:1pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:7.09%;text-indent:0%;font-size:10pt;"> </p></div>" id="sjs-B4"><div> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;margin-left:7.09%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The changes in investment in the Joint Venture since initial contribution are as follows: </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;"> </p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; margin-left:7.09%;width:72.91%;"> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:double 2.5pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:double 2.5pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:double 2.5pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:double 2.5pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:double 2.5pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment in Joint Venture – December 31, 2016</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">13,136</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Share of loss of Joint Venture</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(4,850</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Translation adjustment</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2,127</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contribution to Joint Venture by LAC</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">13,717</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Elimination of unrealized interest on loans to Joint Venture</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(239</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment in Joint Venture – December 31, 2017</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19,637</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Share of loss of Joint Venture</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(271</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contribution to Joint Venture by LAC</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">11,074</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Elimination of unrealized interest on loans to Joint Venture</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-bottom:solid 0.75pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(629</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:75.92%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment in Joint Venture – September 30, 2018</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.84%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:20.22%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">29,811</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:1pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> </table></div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:7.09%;text-indent:0%;font-size:10pt;"> </p></div> |
Minera Exar | |
Disclosure Of Joint Ventures [Line Items] | |
Summary of Loans to Joint Venture | The Company has entered into the following loan agreements with Minera Exar, terms of which are summarized below: $ Loans granted in 2017, maturity 7 years, interest rate LIBOR+7.57% 11,000 Loans granted in 2018, maturity 7 years, interest rate LIBOR+7.57% 12,500 Accrued interest 1,739 Loans to Joint Venture 25,239 |
Property Plant and Equipment (T
Property Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Summary of Property Plant and Equipment | Land Buildings Equipment and machinery Organoclay plant Other Total $ $ $ $ $ $ Cost As at December 31, 2016 386 2,141 5,156 11,495 382 19,560 Additions - 2 805 - 254 1,061 Write down - - (399 ) - - (399 ) As at December 31, 2017 386 2,143 5,562 11,495 636 20,222 Additions - - 142 - 178 320 As at September 30, 2018 386 2,143 5,704 11,495 814 20,542 Land Buildings Equipment and machinery Organoclay plant Other Total $ $ $ $ $ $ Accumulated depreciation As at December 31, 2016 - 76 447 431 104 1,058 Depreciation for the year - 107 366 575 76 1,124 Disposition - - (30 ) - - (30 ) As at December 31, 2017 - 183 783 1,006 180 2,152 Depreciation for the period - 80 299 431 92 902 As at September 30, 2018 - 263 1,082 1,437 272 3,054 Land Buildings Equipment and machinery Organoclay plant Other Total $ $ $ $ $ $ Net book value As at December 31, 2017 386 1,960 4,779 10,489 456 18,070 As at September 30, 2018 386 1,880 4,622 10,058 542 17,488 |
Long Term Borrowings (Tables)
Long Term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Borrowings [Abstract] | |
Schedule of Long-Term Borrowings | September 30, As at December 31, 2018 $ 2017 $ Current portion of long-term borrowings Promissory note 132 130 Obligation under finance leases 41 48 Accrued interest 69 - 243 178 Long-term borrowings Promissory note 603 703 Credit facility 9,909 - Obligation under finance leases 42 48 10,553 751 10,796 929 |
Issued Capital and Equity Inc_2
Issued Capital and Equity Incentive Plan (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |
Summary of Changes to Number of Restricted Shares | A summary of changes to the number of restricted shares is as follows: Balance, RSUs December 31, 2016 490 Granted 1,589 Converted into common shares (521 ) Cancelled (8 ) Balance, RSUs December 31, 2017 1,550 Converted into common shares (117 ) Granted 236 Balance, RSUs September 30, 2018 1,669 |
Summary of Fair Value of Performance Awards Granted by Using Monte Carlo Simulation Model | August 21, 2018 Number of PSUs granted 699 Correlation coefficient between the peer group companies 13.1% Risk-free interest rate 2.7% Dividend rate 0% Annualized volatility 71.9% Peer Group average volatility 65.9% Estimated forfeiture rate 11.6% Fair value per PSU granted (CDN$) 8.50 Total fair value of PSUs granted, prior to forfeiture rate adjustment (CDN$) 5,945 |
Summary of Changes to Number of RS-Ps | A summary of changes to the number of PSUs is as follows: Number of PSUs Balance, PSUs December 31, 2017 - Granted 699 Balance, PSUs September 30, 2018 699 |
Summary of Changes to Number of Deferred Share Units | During the nine months ended September 30, 2018, the Company granted 60 DSUs with the total estimated fair value of $370 to the Company’s directors in payment of directors’ fees. Number of DSUs Balance, DSUs December 31, 2016 9 Granted 73 Converted into common shares (41 ) Balance, DSUs December 31, 2017 42 Granted 60 Balance, DSUs September 30, 2018 102 |
Summary of Fair Value of Stock Options Granted by Using Black-Scholes Option Pricing Model | During the nine months ended September 30, 2018, the Company granted a total of 90 stock options to its employees. The fair value of stock options granted are estimated on the date of grant using the Black-Scholes Option Pricing Model with the following assumptions used for the grants made during the period: January 24, 2018 Number of options granted 90 Exercise price per share (CDN$) 9.54 Risk-free interest rate 1.8% Expected life 3 Annualized volatility 73% Dividend rate 0% Fair value per stock option granted (CDN$) 4.40 Total fair value of stock options granted (CDN$) 396 |
Summary of Stock Options Outstanding and Exercisable | Stock options outstanding and exercisable as at September 30, 2018 are as follows: Options Outstanding Options Exercisable Range of Exercise Prices CAD$ Number Outstanding as at September 30, 2018 Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price CAD$ Number Exercisable as at September 30, 2018 Weighted Average Exercise Price CAD$ $1.35 - $1.50 999 0.97 1.44 999 1.44 $1.70 - $1.90 327 0.82 1.81 327 1.81 $2.35 - $3.75 790 2.37 2.62 790 2.62 $4.80 - $5.00 1,168 3.44 4.88 889 4.88 $8.05 - $11.05 2,003 3.54 8.29 1,457 8.22 5,287 2.69 5.00 4,462 4.57 |
Summary of Changes to Stock Options Outstanding | A summary of changes to stock options outstanding is as follows: Number of Options Weighted Average Exercise Price, (CDN$) Balance, outstanding December 31, 2016 3,424 2.15 Granted 3,085 7.01 Exercised (1,073 ) 2.22 Forfeited (130 ) 5.20 Balance, outstanding December 31, 2017 5,306 4.85 Granted 90 9.54 Exercised (109 ) 4.92 Balance, outstanding September 30, 2018 5,287 5.00 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Related Party Transactions [Abstract] | |
Summary of Compensation of Key Management | The remuneration of directors and members of the executive management team For the nine months ended September 30, 2018 $ 2017 $ Stock-based compensation 1,959 7,459 Salaries, benefits and directors’ fees included in general and administrative expenses 2,147 2,669 Salaries and benefits included in exploration expenditures 470 290 Salaries and benefits capitalized to Investment in the Joint Venture 697 75 5,273 10,493 As at September 30, As at December 31, 2018 $ 2017 $ Total due to directors and executive team 231 265 |
General and Administrative Ex_2
General and Administrative Expenses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of General And Administrative Expenses [Abstract] | |
Summary of Company's General and Administrative Expenses | The following table summarizes the Company’s general and administrative expenses during the nine-month periods ended September 30, 2018 and 2017: For the nine months ended September 30, 2018 2017 $ $ Salaries, benefits and directors’ fees 3,689 3,093 Office and administration 942 498 Professional fees 934 571 Travel and conferences 616 565 Regulatory and filing fees 768 109 Marketing 412 411 Depreciation 69 32 Investor relations 125 55 7,555 5,334 |
Commitments (Tables)
Commitments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Commitments And Contingencies [Abstract] | |
Schedule of Commitments | As at September 30, 2018, the Company had the following commitments that have not been disclosed elsewhere in these condensed consolidated interim financial statements: Not later than 1 year $ Later than 1 year and not later than 5 years $ Later than 5 years $ Total $ Rent of office spaces 267 686 255 1,208 |
Exploration Expenditures (Table
Exploration Expenditures (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Exploration Expenditures [Abstract] | |
Summary of Company's Exploration Expenditures | The following tables summarize the Company’s exploration expenditures during the nine-month periods ended September 30, 2018 and 2017: For the nine months ended September 30, 2018 Lithium Nevada $ General Exploration $ Total $ Drilling 701 - 701 Permitting and environmental 2,438 - 2,438 Engineering 78 - 78 Geological and consulting 3,755 - 3,755 Field supplies, other services, and taxes 220 47 267 Lithium demo plant equipment depreciation 84 - 84 Total exploration expenditures 7,276 47 7,323 For the nine months ended September 30, 2017 Lithium Nevada $ Cauchari-Olaroz¹ $ Total $ Drilling 609 - 609 Environmental 89 - 89 Engineering 14 - 14 Geological and consulting 1,152 428 1,580 Field supplies, other services, and taxes 204 43 247 Lithium demo plant equipment depreciation 84 - 84 Total exploration expenditures 2,152 471 2,623 1 |
Segmented Information (Tables)
Segmented Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Summary of Reportable Segments | LITHIUM AMERICAS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Unaudited) (Expressed in thousands of US dollars, except for per share amounts. Shares and equity instruments in thousands.) The Company’s reportable segments are summarized in the following tables. Organoclay $ Lithium Nevada $ Cauchari-Olaroz $ Corporate $ Total $ As at September 30, 2018 Property, plant and equipment 16,407 1,029 - 52 17,488 Exploration and evaluation assets - 2,768 - - 2,768 Total assets 18,908 4,879 29,811 54,507 108,105 Total liabilities (1,289 ) (1,861 ) - (11,467 ) (14,617 ) For the three months ended September 30, 2018 Property, plant and equipment expenditures 43 23 - - 66 Sales 1,420 - - - 1,420 Net loss 880 3,934 1 2,618 7,433 Exploration expenditures - 3,693 - 25 3,718 Depreciation 409 49 - 3 461 Organoclay research and development 149 - - - 149 For the nine months ended September 30, 2018 Property, plant and equipment expenditures 144 154 - 22 320 Sales 3,371 - - - 3,371 Net loss 2,490 8,418 271 7,470 18,649 Exploration expenditures - 7,276 - 47 7,323 Depreciation 791 144 - 8 943 Organoclay research and development 423 - - - 423 12. SEGMENTED INFORMATION (continued) Organoclay $ Lithium Nevada $ Cauchari- Olaroz $ Corporate $ Total $ As at December 31, 2017 Property, plant and equipment 17,011 1,018 - 41 18,070 Exploration and evaluation assets - 2,104 - - 2,104 Total assets 19,745 3,642 19,637 70,467 113,491 Total liabilities (1,323 ) (896 ) - (2,505 ) (4,724 ) For the three months ended September 30, 2017 Property, plant and equipment expenditures 411 74 - 3 488 Sales 1,059 - - - 1,059 Net loss 502 1,619 (776 ) 11,414 12,759 Exploration expenditures - 1,231 - 1,231 Depreciation 159 28 - 18 205 Organoclay research and development 110 - - - 110 For the nine months ended September 30, 2017 Property, plant and equipment expenditures 634 123 - 15 772 Sales 3,838 - - - 3,838 Net loss 2,187 3,103 4,452 17,703 27,445 Exploration expenditures - 2,152 471 - 2,623 Depreciation 710 84 - 33 827 Organoclay research and development 318 - - - 318 |
Schedule of Non-current Assets and Revenue by Geographical Segment | The Company’s total assets are located in the following geographical areas: Canada $ United States $ Germany $ Argentina $ Total $ Non-current assets (1) As at September 30, 2018 51 19,532 672 29,811 50,066 As at December 31, 2017 41 19,377 756 19,637 39,811 Revenue For the nine months ended September 30, 2018 - 3,371 - - 3,371 For the nine months ended September 30,2017 - 3,838 - - 3,838 Revenue For the three months ended September 30, 2018 - 1,420 - - 1,420 For the three months ended September 30,2017 - 1,059 - - 1,059 1 |
Supplemental Disclosure with _2
Supplemental Disclosure with Respect to Cash Flows (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Supplemental Information With Respect To Cash Flows [Abstract] | |
Supplementary Disclosure of Company's Non Cash Transactions | Supplementary disclosure of the Company’s non-cash transactions is provided in the table below: As at September 30, As at December 31, 2018 $ 2017 $ Accounts payable related to property, plant and equipment 11 28 Accounts payable related to inventories 341 197 Accounts payable related to financings 775 1,611 For the nine months ended September 30, 2018 $ 2017 $ Interest/finance charges paid 36 40 RSUs and DSUs granted in lieu of accrued liabilities and directors’ fees 1,142 353 Assets acquired under finance leases 28 - Income taxes paid - - |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Summary of Maturities for Financial Liabilities on Undiscounted Basis | The following table summarizes the maturities of the Company’s financial liabilities on an undiscounted basis: Years ending December 31, 2018 2019 2020 and later Total $ $ $ $ Credit facility¹ - 800 14,905 15,705 Accounts payable and accrued liabilities 3,572 - - 3,572 Long-term borrowing¹ 45 180 644 869 Obligation under finance leases¹ 11 31 20 62 Obligation under car lease 2 6 19 27 Total 3,630 1,017 15,588 20,235 ¹ |
Nature of Operations - Addition
Nature of Operations - Additional Information (Details) | 9 Months Ended |
Sep. 30, 2018Project | |
Nature Of Operations [Abstract] | |
Name of reporting entity | Lithium Americas Corp. |
Number of significant projects | 2 |
Basis of Preparation and Pres_2
Basis of Preparation and Presentation - Additional Information (Detail) | Nov. 08, 2017shares |
Basis Of Preparation And Presentation [Abstract] | |
Share consolidation, number of outstanding common shares for each new common share | 5 |
Joint Venture - Additional Info
Joint Venture - Additional Information (Details) $ in Thousands | Oct. 31, 2018 | Sep. 30, 2018USD ($)ton | Dec. 31, 2017 |
Disclosure Of Joint Ventures [Line Items] | |||
Ownership interest in joint venture | 50.00% | ||
Events After Reporting Period | |||
Disclosure Of Joint Ventures [Line Items] | |||
Ownership interest in joint venture | 62.50% | ||
Minera Exar | |||
Disclosure Of Joint Ventures [Line Items] | |||
Annual royalty due | $ 100 | ||
Royalty expiration description | May of every year and expiring in 2041 | ||
Annual fees due in 2018 to 2021 | $ 88 | ||
Annual fees due in 2021 to 2059 | 131 | ||
Commitments related to contract for construction of ponds | 19,747 | ||
One time payment in exchange of first 20 years of net profit interest | 7,000 | ||
One time payment in exchange of next 20 years of net profit interest | $ 7,000 | ||
Minera Exar | JEMSE Arrangement | |||
Disclosure Of Joint Ventures [Line Items] | |||
Rights granted to acquire equity interest in joint venture, percentage | 8.50% | ||
Rights granted to acquire equity interest in joint venture, value | $ 1 | ||
Minera Exar | Grupo Minero Los Boros | |||
Disclosure Of Joint Ventures [Line Items] | |||
Payment for purchase option | 100 | ||
Total consideration on right to exercise purchase option | 12,000 | ||
Consideration payments in quarterly installments | $ 200 | ||
Minimum production for the purchase option exercise | ton | 20,000 | ||
Borrowings of joint venture | $ 12,000 | ||
Royalty payment upon the exercises the purchase option | $ 300 | ||
Royalty payment description | within 10 days of the commercial plant construction start date | ||
Net operating interest of exercises the purchase option | 3.00% | ||
Net operation interest payable description | 40 years, payable in pesos, annually within the 10 business days after calendar year end | ||
Minera Exar | Events After Reporting Period | |||
Disclosure Of Joint Ventures [Line Items] | |||
Ownership interest in joint venture | 62.50% |
Joint Venture - Summary of Chan
Joint Venture - Summary of Changes in Investments in Joint Ventures Initial Contribution (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Disclosure Of Joint Ventures [Line Items] | |||
Contribution to Joint Venture by LAC | $ 10,747 | $ 238 | |
Minera Exar | |||
Disclosure Of Joint Ventures [Line Items] | |||
Investment in Joint Venture. Balance | 19,637 | $ 13,136 | $ 13,136 |
Share of loss of Joint Venture | (271) | (4,850) | |
Translation adjustment | (2,127) | ||
Contribution to Joint Venture by LAC | 11,074 | 13,717 | |
Elimination of unrealized interest on loans to Joint Venture | (629) | (239) | |
Investment in Joint Venture. Balance | $ 29,811 | $ 19,637 |
Joint Venture - Summary of Loan
Joint Venture - Summary of Loans to Joint Venture (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Disclosure Of Joint Ventures [Line Items] | ||
Loans to Joint Venture | $ 25,239 | $ 11,479 |
Minera Exar | ||
Disclosure Of Joint Ventures [Line Items] | ||
Loans to Joint Venture | 25,239 | |
Minera Exar | Granted in 2017 | ||
Disclosure Of Joint Ventures [Line Items] | ||
Loans to Joint Venture | 11,000 | |
Minera Exar | Granted in 2018 | ||
Disclosure Of Joint Ventures [Line Items] | ||
Loans to Joint Venture | 12,500 | |
Minera Exar | Accrued Interest | ||
Disclosure Of Joint Ventures [Line Items] | ||
Loans to Joint Venture | $ 1,739 |
Joint Venture - Summary of Lo_2
Joint Venture - Summary of Loans to Joint Venture (Parenthetical) (Details) - Minera Exar | 9 Months Ended |
Sep. 30, 2018 | |
Granted in 2017 | |
Disclosure Of Joint Ventures [Line Items] | |
Borrowings, interest rate basis | LIBOR+7.57% |
Maturity period of borrowings | 7 years |
Granted in 2017 | LIBOR | |
Disclosure Of Joint Ventures [Line Items] | |
Borrowings, adjustment to interest rate basis | 7.57% |
Granted in 2018 | |
Disclosure Of Joint Ventures [Line Items] | |
Borrowings, interest rate basis | LIBOR+7.57% |
Maturity period of borrowings | 7 years |
Granted in 2018 | LIBOR | |
Disclosure Of Joint Ventures [Line Items] | |
Borrowings, adjustment to interest rate basis | 7.57% |
Property Plant and Equipment -
Property Plant and Equipment - Summary of Property Plant and Equipment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | $ 18,070 | ||||
Additions | $ 66 | $ 488 | 320 | $ 772 | |
Net book value at ending of the year | 17,488 | 17,488 | $ 18,070 | ||
Cost | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 20,222 | 19,560 | 19,560 | ||
Additions | 320 | 1,061 | |||
Write down | (399) | ||||
Net book value at ending of the year | 20,542 | 20,542 | 20,222 | ||
Accumulated Depreciation | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 2,152 | 1,058 | 1,058 | ||
Net book value at ending of the year | 3,054 | 3,054 | 2,152 | ||
Depreciation for the year | 902 | 1,124 | |||
Disposition | (30) | ||||
Land | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 386 | ||||
Net book value at ending of the year | 386 | 386 | 386 | ||
Land | Cost | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 386 | 386 | 386 | ||
Net book value at ending of the year | 386 | 386 | 386 | ||
Buildings | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 1,960 | ||||
Net book value at ending of the year | 1,880 | 1,880 | 1,960 | ||
Buildings | Cost | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 2,143 | 2,141 | 2,141 | ||
Additions | 2 | ||||
Net book value at ending of the year | 2,143 | 2,143 | 2,143 | ||
Buildings | Accumulated Depreciation | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 183 | 76 | 76 | ||
Net book value at ending of the year | 263 | 263 | 183 | ||
Depreciation for the year | 80 | 107 | |||
Equipment and Machinery | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 4,779 | ||||
Net book value at ending of the year | 4,622 | 4,622 | 4,779 | ||
Equipment and Machinery | Cost | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 5,562 | 5,156 | 5,156 | ||
Additions | 142 | 805 | |||
Write down | (399) | ||||
Net book value at ending of the year | 5,704 | 5,704 | 5,562 | ||
Equipment and Machinery | Accumulated Depreciation | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 783 | 447 | 447 | ||
Net book value at ending of the year | 1,082 | 1,082 | 783 | ||
Depreciation for the year | 299 | 366 | |||
Disposition | (30) | ||||
Organoclay Plant | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 10,489 | ||||
Net book value at ending of the year | 10,058 | 10,058 | 10,489 | ||
Organoclay Plant | Cost | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 11,495 | 11,495 | 11,495 | ||
Net book value at ending of the year | 11,495 | 11,495 | 11,495 | ||
Organoclay Plant | Accumulated Depreciation | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 1,006 | 431 | 431 | ||
Net book value at ending of the year | 1,437 | 1,437 | 1,006 | ||
Depreciation for the year | 431 | 575 | |||
Other | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 456 | ||||
Net book value at ending of the year | 542 | 542 | 456 | ||
Other | Cost | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 636 | 382 | 382 | ||
Additions | 178 | 254 | |||
Net book value at ending of the year | 814 | 814 | 636 | ||
Other | Accumulated Depreciation | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Net book value at beginning of the year | 180 | $ 104 | 104 | ||
Net book value at ending of the year | $ 272 | 272 | 180 | ||
Depreciation for the year | $ 92 | $ 76 |
Long-Term Borrowings - Schedule
Long-Term Borrowings - Schedule of Long-Term Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Current portion of long-term borrowings | ||
Current portion of long-term borrowings | $ 243 | $ 178 |
Long-term borrowings | ||
Long-term borrowings | 10,553 | 751 |
Borrowings | 10,796 | 929 |
Promissory Note | ||
Current portion of long-term borrowings | ||
Current portion of long-term borrowings | 132 | 130 |
Long-term borrowings | ||
Long-term borrowings | 603 | 703 |
Obligation Under Finance Leases | ||
Current portion of long-term borrowings | ||
Current portion of long-term borrowings | 41 | 48 |
Long-term borrowings | ||
Long-term borrowings | 42 | $ 48 |
Accrued Interest | ||
Current portion of long-term borrowings | ||
Current portion of long-term borrowings | 69 | |
Credit Facility | ||
Long-term borrowings | ||
Long-term borrowings | $ 9,909 |
Long-Term Borrowings - Addition
Long-Term Borrowings - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended |
Jul. 31, 2013 | Sep. 30, 2018 | Sep. 30, 2018 | |
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Drawn borrowing facilities | $ 10,000 | ||
Credit Facility | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Proceed from long-term borrowings | $ 10,000 | ||
Finance costs | 91 | ||
Drawn borrowing facilities | $ 205,000 | ||
Credit facility term | 6 years | ||
Credit Facility | First Three Years | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Credit facility interest rate | 8.00% | ||
Credit Facility | Year Four | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Credit facility interest rate | 8.50% | ||
Credit Facility | Year Five | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Credit facility interest rate | 9.00% | ||
Credit Facility | Year Six | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Credit facility interest rate | 9.50% | ||
Promissory Note | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Purchase price of property | $ 1,575 | ||
Payments for purchase of property | 236 | ||
Remaining balance of transaction | $ 1,339 | ||
Promissory note, maturity term | 10 years | ||
Annual interest of promissory note | 7.00% |
Issued Capital and Equity Inc_3
Issued Capital and Equity Incentive Plan - Additional Information (Details) $ / shares in Units, shares in Thousands | Aug. 21, 2018USD ($)shares | Jan. 24, 2018shares | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)shares | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($)shares | Dec. 31, 2017CAD ($)shares | Aug. 21, 2018CAD ($) | Dec. 31, 2017$ / shares |
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Credit facility | $ 10,796,000 | $ 10,796,000 | $ 929,000 | |||||||
Financing costs related to the equity portion | 1,755,000 | |||||||||
Financing costs related to the debt portion | 1,809,000 | 1,809,000 | 1,809,000 | |||||||
Accounts payable and accrued liabilities | 3,572,000 | $ 3,572,000 | $ 3,546,000 | |||||||
Stock options granted | shares | 90 | 90 | 3,085 | 3,085 | ||||||
Stock-based compensation expense | 938,000 | $ 7,139,000 | $ 3,897,000 | $ 9,729,000 | ||||||
Restricted Share Units | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Number of shares granted | shares | 236 | 1,589 | 1,589 | |||||||
Restricted Share Units | Operating Expense | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs recorded as a share-based payments expense | $ 832,000 | $ 6,713,000 | ||||||||
Restricted Share Units | 2018 | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs previously granted but not yet vested | 112,000 | 112,000 | ||||||||
Restricted Share Units | 2019 | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs previously granted but not yet vested | 207,000 | 207,000 | ||||||||
Restricted Share Units | 2020 | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs previously granted but not yet vested | 30,000 | $ 30,000 | ||||||||
Restricted Shares Rights – Performance Share Units | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Number of shares granted | shares | 699 | 699 | ||||||||
Performance based restricted share units vesting description | All PSUs vest on the third anniversary of the grant date. | |||||||||
Fair value per PSUs granted | $ 4,030,000 | $ 8,500 | ||||||||
Restricted Shares Rights – Performance Share Units | Operating Expense | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs recorded as a share-based payments expense | $ 149,000 | $ 0 | ||||||||
Restricted Shares Rights – Performance Share Units | 2019 | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs previously granted but not yet vested | 336,000 | 336,000 | ||||||||
Restricted Shares Rights – Performance Share Units | 2020 | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs previously granted but not yet vested | 1,344,000 | 1,344,000 | ||||||||
Restricted Shares Rights – Performance Share Units | 2020 | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs previously granted but not yet vested | 1,344,000 | 1,344,000 | ||||||||
Restricted Shares Rights – Performance Share Units | 2021 | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of RSUs previously granted but not yet vested | 858,000 | $ 858,000 | ||||||||
Deferred Share Units | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Number of shares granted | shares | 60 | 73 | 73 | |||||||
Fair value of shares granted | 370,000 | $ 370,000 | ||||||||
Cashless Exercise Provision Stock Option Plan | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Stock-based compensation expense | 2,916,000 | $ 3,016,000 | ||||||||
Fair value of options granted but not yet vested | 293,000 | 293,000 | ||||||||
Cashless Exercise Provision Stock Option Plan | 2019 | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Fair value of options granted but not yet vested | 257,000 | 257,000 | ||||||||
Cashless Exercise Provision Stock Option Plan | Cost of Sales | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Stock-based compensation expense | $ 62,000 | |||||||||
Equity Incentive Plan | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Maximum term for stock option granted | 5 years | |||||||||
Equity Incentive Plan | Restricted Share Units | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Number of shares granted | shares | 236 | |||||||||
Fair value of shares granted | 1,009,000 | $ 1,009,000 | ||||||||
Debt Issuance Costs | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Accounts payable and accrued liabilities | $ 99,000 | $ 99,000 | ||||||||
Accrued Liabilities Reduction | Equity Incentive Plan | Restricted Share Units | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Number of shares granted | shares | 197 | |||||||||
Operating Expenses | Equity Incentive Plan | Restricted Share Units | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Number of shares granted | shares | 39 | |||||||||
Ganfeng | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Number of shares issued | shares | 15,000 | |||||||||
Credit facility | $ 125,000,000 | |||||||||
Percentage of offtake entitlement | 80.00% | |||||||||
Off-take agreements term | 20 years | |||||||||
Percentage of interest required in issued capital to nominate one individual. | 17.50% | |||||||||
Ganfeng | Bottom of Range | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Percentage of interest required in issued capital to nominate one individual. | 15.00% | |||||||||
BCP Innovation Pte Ltd | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Number of shares issued | shares | 10,000 | |||||||||
Par value per share | $ / shares | $ 4.25 | |||||||||
Gross proceeds from common share | $ 80,999 | $ 106,000 | ||||||||
Ganfeng and Bangchak Investment Agreements | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Credit facility | 205,000,000 | |||||||||
Bangchak | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Credit facility | $ 80,000,000 | |||||||||
Percentage of offtake entitlement | 20.00% | |||||||||
Off-take agreements term | 20 years | |||||||||
Percentage of interest required in issued capital to nominate one individual. | 16.40% | |||||||||
Bangchak | Bottom of Range | ||||||||||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | ||||||||||
Percentage of interest required in issued capital to nominate one individual. | 15.00% |
Issued Capital and Equity Inc_4
Issued Capital and Equity Incentive Plan - Summary of Changes to Number of Restricted Shares (Details) - Restricted Share Units - shares shares in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Disclosure Of Fair Value Measurement Of Equity [Line Items] | ||
Number of shares outstanding balance | 1,550 | 490 |
Number of shares granted | 236 | 1,589 |
Number of shares converted into common shares | (117) | (521) |
Number of shares cancelled | (8) | |
Number of shares outstanding balance | 1,669 | 1,550 |
Issued Capital and Equity Inc_5
Issued Capital and Equity Incentive Plan - Summary of Fair Value of Performance Awards Granted by Using Monte Carlo Simulation Model (Details) - Restricted Shares Rights – Performance Share Units shares in Thousands, $ in Thousands | Aug. 21, 2018USD ($)shares | Sep. 30, 2018shares | Aug. 21, 2018CAD ($) |
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Number of shares granted | shares | 699 | 699 | |
Correlation coefficient between the peer group companies | 13.10% | 13.10% | |
Risk-free interest rate | 2.70% | 2.70% | |
Dividend rate | 0.00% | 0.00% | |
Annualized volatility | 71.90% | 71.90% | |
Peer Group average volatility | 65.90% | 65.90% | |
Estimated forfeiture rate | 11.60% | 11.60% | |
Fair value per PSUs granted | $ 4,030 | $ 8,500 | |
Total fair value of PSUs granted, prior to forfeiture rate adjustment (CDN$) | $ | $ 5,945,000 |
Issued Capital and Equity Inc_6
Issued Capital and Equity Incentive Plan -Summary of Changes to Number of RS-Ps (Details) - Restricted Shares Rights – Performance Share Units - shares shares in Thousands | Aug. 21, 2018 | Sep. 30, 2018 |
Disclosure Of Fair Value Measurement Of Equity [Line Items] | ||
Number of shares granted | 699 | 699 |
Number of shares outstanding balance | 699 |
Issued Capital and Equity Inc_7
Issued Capital and Equity Incentive Plan - Summary of Changes to Number of Deferred Share Units (Details) - Deferred Share Units - shares shares in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Disclosure Of Fair Value Measurement Of Equity [Line Items] | ||
Number of shares outstanding balance | 42 | 9 |
Number of shares granted | 60 | 73 |
Number of shares converted into common shares | (41) | |
Number of shares outstanding balance | 102 | 42 |
Issued Capital and Equity Inc_8
Issued Capital and Equity Incentive Plan -Summary of Fair Value of Stock Options Granted by Using Black-Scholes Option Pricing Model (Details) shares in Thousands | Jan. 24, 2018CAD ($)sharesYear | Sep. 30, 2018shares | Dec. 31, 2017shares |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |||
Number of options granted | shares | 90 | 90 | 3,085 |
Exercise price per share (CDN$) | $ 9.54 | ||
Risk-free interest rate | 1.80% | ||
Expected life | Year | 3 | ||
Annualized volatility | 73.00% | ||
Dividend rate | 0.00% | ||
Fair value per stock option granted (CDN$) | $ 4.40 | ||
Total fair value of stock options granted (CDN$) | $ 396,000 |
Issued Capital and Equity Inc_9
Issued Capital and Equity Incentive Plan - Summary of Stock Options Outstanding and Exercisable (Details) shares in Thousands | Sep. 30, 2018CAD ($)sharesYear | Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($)shares |
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Number of options outstanding | shares | 5,287 | 5,306 | 3,424 |
Weighted average remaining contractual life of options outstanding (years) | Year | 2.69 | ||
Weighted average exercise price of options outstanding | $ 5 | $ 4.85 | $ 2.15 |
Number of options exercisable | shares | 4,462 | ||
Weighted average exercise price of options exercisable | $ 4.57 | ||
$1.35 - $1.50 | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Number of options outstanding | shares | 999 | ||
Weighted average remaining contractual life of options outstanding (years) | Year | 0.97 | ||
Weighted average exercise price of options outstanding | $ 1.44 | ||
Number of options exercisable | shares | 999 | ||
Weighted average exercise price of options exercisable | $ 1.44 | ||
$1.35 - $1.50 | Bottom of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | 1.35 | ||
$1.35 - $1.50 | Top of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | $ 1.50 | ||
$1.70 - $1.90 | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Number of options outstanding | shares | 327 | ||
Weighted average remaining contractual life of options outstanding (years) | Year | 0.82 | ||
Weighted average exercise price of options outstanding | $ 1.81 | ||
Number of options exercisable | shares | 327 | ||
Weighted average exercise price of options exercisable | $ 1.81 | ||
$1.70 - $1.90 | Bottom of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | 1.70 | ||
$1.70 - $1.90 | Top of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | $ 1.90 | ||
$2.35 - $3.75 | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Number of options outstanding | shares | 790 | ||
Weighted average remaining contractual life of options outstanding (years) | Year | 2.37 | ||
Weighted average exercise price of options outstanding | $ 2.62 | ||
Number of options exercisable | shares | 790 | ||
Weighted average exercise price of options exercisable | $ 2.62 | ||
$2.35 - $3.75 | Bottom of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | 2.35 | ||
$2.35 - $3.75 | Top of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | $ 3.75 | ||
$4.80 - $5.00 | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Number of options outstanding | shares | 1,168 | ||
Weighted average remaining contractual life of options outstanding (years) | Year | 3.44 | ||
Weighted average exercise price of options outstanding | $ 4.88 | ||
Number of options exercisable | shares | 889 | ||
Weighted average exercise price of options exercisable | $ 4.88 | ||
$4.80 - $5.00 | Bottom of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | 4.80 | ||
$4.80 - $5.00 | Top of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | $ 5 | ||
$8.05 - $11.05 | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Number of options outstanding | shares | 2,003 | ||
Weighted average remaining contractual life of options outstanding (years) | Year | 3.54 | ||
Weighted average exercise price of options outstanding | $ 8.29 | ||
Number of options exercisable | shares | 1,457 | ||
Weighted average exercise price of options exercisable | $ 8.22 | ||
$8.05 - $11.05 | Bottom of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | 8.05 | ||
$8.05 - $11.05 | Top of Range | |||
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items] | |||
Exercise price of options outstanding | $ 11.05 |
Issued Capital and Equity In_10
Issued Capital and Equity Incentive Plan - Summary of Changes to Stock Options Outstanding (Details) shares in Thousands | Jan. 24, 2018shares | Sep. 30, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares |
Disclosure Of Changes To Stock Options Outstanding [Abstract] | |||
Number of Options, Balance Outstanding | shares | 5,306 | 3,424 | |
Stock options granted | shares | 90 | 90 | 3,085 |
Number of Options, Exercised | shares | (109) | (1,073) | |
Number of Options, Forfeited | shares | (130) | ||
Number of Options, Balance Outstanding | shares | 5,287 | 5,306 | |
Weighted Average Exercise Price, Balance Outstanding | $ | $ 4.85 | $ 2.15 | |
Weighted Average Exercise Price, Granted | $ | 9.54 | 7.01 | |
Weighted Average Exercise Price, Exercised | $ | 4.92 | 2.22 | |
Weighted Average Exercise Price, Forfeited | $ | 5.20 | ||
Weighted Average Exercise Price, Balance Outstanding | $ | $ 5 | $ 4.85 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Percentage of ownership interest in joint venture | 50.00% | |
Contractual or other commitments from related party transactions | $ 0 | |
Minera Exar | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Percentage of ownership interest in joint venture | 50.00% | |
Payment of base annual fee | $ 55,000 | |
Minera Exar | Cauchari-Olaroz Project | Magna Construcciones S.R.L | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Total construction services contract value | 1,401,000 | |
Non Executive Directors | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | 100,000 | |
Non Executive Directors | Bottom of Range | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Remunerations payable in DSU's | 60,000 | |
Committee Chair | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | 13,000 | |
Company's Audit Committee Chair | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | 18,000 | |
Company's Board Chair Member | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | 150,000 | |
Company's Board Chair Member | Bottom of Range | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Remunerations payable in DSU's | 90,000 | |
Company's Board Chair Member | Cauchari-Olaroz Project | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | 20,000 | |
Committee Members | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | 5,000 | |
Excess of Six Meetings Per Year | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | 1,000 | |
Special Committee | Cauchari-Olaroz Project | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | 10,000 | |
Excess of Five Meetings Per Year | Cauchari-Olaroz Project | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Payment of base annual fee | $ 1,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Compensation of Key Management (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |||
Stock-based compensation | $ 1,959 | $ 7,459 | |
Salaries, benefits and directors’ fees included in general and administrative expenses | 2,147 | 2,669 | |
Salaries and benefits included in exploration expenditures | 470 | 290 | |
Salaries and benefits capitalized to Investment in the Joint Venture | 697 | 75 | |
Total remuneration | 5,273 | $ 10,493 | |
Total due to directors and executive team | $ 231 | $ 265 |
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, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Disclosure Of General And Administrative Expenses [Line Items] | ||||
General and administrative expenses | $ 1,651 | $ 2,762 | $ 7,555 | $ 5,334 |
Professional fees | 934 | 571 | ||
Salaries, Benefits and Directors’ Fees | ||||
Disclosure Of General And Administrative Expenses [Line Items] | ||||
General and administrative expenses | 3,689 | 3,093 | ||
Office And Administration | ||||
Disclosure Of General And Administrative Expenses [Line Items] | ||||
General and administrative expenses | 942 | 498 | ||
Travel And Conferences | ||||
Disclosure Of General And Administrative Expenses [Line Items] | ||||
General and administrative expenses | 616 | 565 | ||
Regulatory And Filing Fees | ||||
Disclosure Of General And Administrative Expenses [Line Items] | ||||
General and administrative expenses | 768 | 109 | ||
Marketing | ||||
Disclosure Of General And Administrative Expenses [Line Items] | ||||
General and administrative expenses | 412 | 411 | ||
Depreciation | ||||
Disclosure Of General And Administrative Expenses [Line Items] | ||||
General and administrative expenses | 69 | 32 | ||
Investor Relations | ||||
Disclosure Of General And Administrative Expenses [Line Items] | ||||
General and administrative expenses | $ 125 | $ 55 |
Commitments - Schedule of Commi
Commitments - Schedule of Commitments (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Disclosure Of Commitments [Line Items] | |
Rent of office spaces | $ 1,208 |
2,018 | |
Disclosure Of Commitments [Line Items] | |
Rent of office spaces | 267 |
Later Than 1 Year and Not Later Than 5 Years | |
Disclosure Of Commitments [Line Items] | |
Rent of office spaces | 686 |
Later Than 5 Years | |
Disclosure Of Commitments [Line Items] | |
Rent of office spaces | $ 255 |
Exploration Expenditures - Summ
Exploration Expenditures - Summary of Company's Exploration Expenditures (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | $ 3,718 | $ 1,231 | $ 7,323 | $ 2,623 |
Drilling | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 701 | 609 | ||
Permitting and Environmental | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 2,438 | |||
Engineering | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 78 | 14 | ||
Geological and Consulting | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 3,755 | 1,580 | ||
Field Supplies, Other Services, and Taxes | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 267 | 247 | ||
Lithium Demo Plant Equipment Depreciation | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 84 | 84 | ||
Environmental | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 89 | |||
Lithium Nevada | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 7,276 | 2,152 | ||
Lithium Nevada | Drilling | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 701 | 609 | ||
Lithium Nevada | Permitting and Environmental | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 2,438 | |||
Lithium Nevada | Engineering | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 78 | 14 | ||
Lithium Nevada | Geological and Consulting | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 3,755 | 1,152 | ||
Lithium Nevada | Field Supplies, Other Services, and Taxes | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 220 | 204 | ||
Lithium Nevada | Lithium Demo Plant Equipment Depreciation | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 84 | 84 | ||
Lithium Nevada | Environmental | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 89 | |||
General Exploration | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 47 | |||
General Exploration | Field Supplies, Other Services, and Taxes | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | $ 47 | |||
Cauchari Olaroz | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 471 | |||
Cauchari Olaroz | Geological and Consulting | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | 428 | |||
Cauchari Olaroz | Field Supplies, Other Services, and Taxes | ||||
Disclosure Of Exploration Expenditures [Line Items] | ||||
Exploration expenditures | $ 43 |
Segmented Information - Additio
Segmented Information - Additional Information (Details) | 9 Months Ended |
Sep. 30, 2018Segment | |
Disclosure Of Operating Segments [Abstract] | |
Number of operating segments | 3 |
Number of geographic segments | 4 |
Segmented Information - Summary
Segmented Information - Summary of Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Disclosure Of Operating Segments [Line Items] | |||||
Property, plant and equipment | $ 17,488 | $ 17,488 | $ 18,070 | ||
Exploration and evaluation assets | 2,768 | 2,768 | 2,104 | ||
Total assets | 108,105 | 108,105 | 113,491 | ||
Total liabilities | (14,617) | (14,617) | (4,724) | ||
Property, plant and equipment expenditures | 66 | $ 488 | 320 | $ 772 | |
Sales | 1,420 | 1,059 | 3,371 | 3,838 | |
Net loss | 7,433 | 12,759 | 18,649 | 27,445 | |
Exploration expenditures | 3,718 | 1,231 | 7,323 | 2,623 | |
Depreciation | 461 | 205 | 943 | 827 | |
Organoclay research and development | 149 | 110 | 423 | 318 | |
Cauchari Olaroz | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Exploration expenditures | 471 | ||||
Operating Segments | Organoclay Plant | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Property, plant and equipment | 16,407 | 16,407 | 17,011 | ||
Total assets | 18,908 | 18,908 | 19,745 | ||
Total liabilities | (1,289) | (1,289) | (1,323) | ||
Property, plant and equipment expenditures | 43 | 411 | 144 | 634 | |
Sales | 1,420 | 1,059 | 3,371 | 3,838 | |
Net loss | 880 | 502 | 2,490 | 2,187 | |
Depreciation | 409 | 159 | 791 | 710 | |
Organoclay research and development | 149 | 110 | 423 | 318 | |
Operating Segments | Lithium Nevada Project | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Property, plant and equipment | 1,029 | 1,029 | 1,018 | ||
Exploration and evaluation assets | 2,768 | 2,768 | 2,104 | ||
Total assets | 4,879 | 4,879 | 3,642 | ||
Total liabilities | (1,861) | (1,861) | (896) | ||
Property, plant and equipment expenditures | 23 | 74 | 154 | 123 | |
Net loss | 3,934 | 1,619 | 8,418 | 3,103 | |
Exploration expenditures | 3,693 | 1,231 | 7,276 | 2,152 | |
Depreciation | 49 | 28 | 144 | 84 | |
Operating Segments | Cauchari Olaroz | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Total assets | 29,811 | 29,811 | 19,637 | ||
Net loss | 1 | (776) | 271 | 4,452 | |
Exploration expenditures | 471 | ||||
Corporate | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Property, plant and equipment | 52 | 52 | 41 | ||
Total assets | 54,507 | 54,507 | 70,467 | ||
Total liabilities | (11,467) | (11,467) | $ (2,505) | ||
Property, plant and equipment expenditures | 3 | 22 | 15 | ||
Net loss | 2,618 | 11,414 | 7,470 | 17,703 | |
Exploration expenditures | 25 | 47 | |||
Depreciation | $ 3 | $ 18 | $ 8 | $ 33 |
Segmented Information - Schedul
Segmented Information - Schedule of Non-current Assets and Revenue by Geographical Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
NON-CURRENT ASSETS | |||||
Non-current assets | $ 50,066 | $ 50,066 | $ 39,811 | ||
Revenue | |||||
ORGANOCLAY SALES | 1,420 | $ 1,059 | 3,371 | $ 3,838 | |
Canada | |||||
NON-CURRENT ASSETS | |||||
Non-current assets | 51 | 51 | 41 | ||
United States | |||||
NON-CURRENT ASSETS | |||||
Non-current assets | 19,532 | 19,532 | 19,377 | ||
Revenue | |||||
ORGANOCLAY SALES | 1,420 | $ 1,059 | 3,371 | $ 3,838 | |
Germany | |||||
NON-CURRENT ASSETS | |||||
Non-current assets | 672 | 672 | 756 | ||
Argentina | |||||
NON-CURRENT ASSETS | |||||
Non-current assets | $ 29,811 | $ 29,811 | $ 19,637 |
Supplemental Disclosure with _3
Supplemental Disclosure with Respect to Cash Flows - Supplementary Disclosure of Company's Non Cash Transactions (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Supplemental Information With Respect To Cash Flows [Abstract] | |||
Accounts payable related to property, plant and equipment | $ 11 | $ 28 | |
Accounts payable related to inventories | 341 | 197 | |
Accounts payable related to financings | 775 | $ 1,611 | |
Interest/finance charges paid | 36 | $ 40 | |
RSUs and DSUs granted in lieu of accrued liabilities and directors’ fees | 1,142 | $ 353 | |
Assets acquired under finance leases | $ 28 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Disclosure Of Financial Instruments [Line Items] | ||||||
Cash and cash equivalents | $ 25,950 | $ 73,208 | $ 25,950 | $ 73,208 | $ 55,394 | $ 8,056 |
Current liabilities | 3,815 | 3,815 | 3,724 | |||
Cash and cash equivalents held in USD | 24,426 | |||||
Credit facility denominated in USD | 10,000 | $ 10,000 | ||||
Foreign exchange rate | 0.10 | |||||
Foreign exchange gain/(loss) | (722) | $ (2,347) | $ 1,523 | $ (4,157) | ||
Credit Risk | ||||||
Disclosure Of Financial Instruments [Line Items] | ||||||
Amount on receivables, prepaids and deposits | 105 | 105 | ||||
Cash and cash equivalents | 25,950 | 25,950 | 55,394 | |||
Current liabilities | 3,815 | 3,815 | $ 3,724 | |||
Credit Risk | Prepaids and Deposits | ||||||
Disclosure Of Financial Instruments [Line Items] | ||||||
Credit sales receivables | $ 953 | 953 | ||||
Currency Risk | ||||||
Disclosure Of Financial Instruments [Line Items] | ||||||
Foreign exchange gain/(loss) | $ 1,443 |
Financial instruments - Summary
Financial instruments - Summary of Maturities for Financial Liabilities on Undiscounted Basis (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | $ 20,235 |
2,018 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 3,630 |
2,019 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 1,017 |
2020 and Later | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 15,588 |
Credit Facility | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 15,705 |
Credit Facility | 2019 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 800 |
Credit Facility | 2020 and Later | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 14,905 |
Accounts Payable and Accrued Liabilities | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 3,572 |
Accounts Payable and Accrued Liabilities | 2018 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 3,572 |
Long-term Borrowing | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 869 |
Long-term Borrowing | 2018 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 45 |
Long-term Borrowing | 2019 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 180 |
Long-term Borrowing | 2020 and Later | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 644 |
Obligation Under Finance Leases | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 62 |
Obligation Under Finance Leases | 2018 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 11 |
Obligation Under Finance Leases | 2019 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 31 |
Obligation Under Finance Leases | 2020 and Later | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 20 |
Obligation Under Car Leases | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 27 |
Obligation Under Car Leases | 2018 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 2 |
Obligation Under Car Leases | 2019 | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | 6 |
Obligation Under Car Leases | 2020 and Later | |
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | |
Financial liabilities on undiscounted basis ,Total | $ 19 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - USD ($) | Oct. 31, 2018 | Sep. 30, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||
Ownership interest in joint venture | 50.00% | |||
Restricted cash | $ 833,000 | $ 833,000 | $ 833,000 | |
Drawn borrowing facilities | 10,000,000 | |||
Loans to Joint Venture | 25,239,000 | 25,239,000 | $ 11,479,000 | |
Credit Facility | ||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||
Drawn borrowing facilities | 205,000,000 | |||
Minera Exar | ||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||
Loans to Joint Venture | $ 25,239,000 | $ 25,239,000 | ||
Events After Reporting Period | ||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||
Ownership interest in joint venture | 62.50% | |||
Proceeds from Repayments | $ 17,100,000 | |||
Restricted cash | 833,000 | |||
Additional borrowings obtained from drawdown of line of credit facility | 5,000,000 | |||
Events After Reporting Period | Credit Facility | ||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||
Drawn borrowing facilities | $ 205,000,000 | |||
Events After Reporting Period | Minera Exar | ||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||
Ownership interest in joint venture | 62.50% | |||
Repayments of outstanding indebtness | $ 25,000,000 | |||
Loans to Joint Venture | $ 9,000,000 | |||
Ganfeng | Events After Reporting Period | ||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||
Ownership interest held by non-controlling interest | 37.50% | |||
Ganfeng | Events After Reporting Period | Unsecured, Limited Recourse, Subordinated Loan Facility | ||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||
Borrowing facility | $ 100,000,000 |