Docoh
Loading...

LAC Lithium Americas

Document and Entity Information

Document and Entity Information12 Months Ended
Dec. 31, 2019shares
Document And Entity Information [Abstract]
Document Type40-F
Amendment Flagfalse
Document Period End DateDec. 31,
2019
Document Fiscal Year Focus2019
Document Fiscal Period FocusFY
Trading SymbolLAC
Entity Registrant NameLITHIUM AMERICAS CORP.
Entity Central Index Key0001440972
Current Fiscal Year End Date--12-31
Entity Current Reporting StatusYes
Entity Emerging Growth Companytrue
Entity Ex Transition Periodfalse
Entity Common Stock, Shares Outstanding89,843,282
Entity File Number001-38350
Entity Address, Address Line One900 West Hastings Street
Entity Address, Address Line TwoSuite 300
Entity Address, City or TownVancouver
Entity Address, State or ProvinceBritish Columbia
Entity Address, CountryCanada
Entity Address, Postal Zip CodeV6C 1E5
City Area Code778
Local Phone Number656-5820
Entity Tax Identification Number000000000

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in ThousandsDec. 31, 2019Dec. 31, 2018
CURRENT ASSETS
Cash and cash equivalents $ 83,614 $ 41,604
Receivables, prepaids and deposits2,595 1,947
Deferred financing costs1,190 1,767
Inventories1,236 1,617
Total current assets other than assets held for sale88,635 46,935
Assets held for sale4,279
Total current assets92,914 46,935
NON-CURRENT ASSETS
Restricted cash150 150
Loans to Joint Operation37,959 12,609
Investment in Joint Venture35,282
Property, plant and equipment158,924 5,423
Exploration and evaluation assets3,852 3,540
Total non-current assets200,885 57,004
TOTAL ASSETS293,799 103,939
CURRENT LIABILITIES
Accounts payable and accrued liabilities11,879 2,822
Current portion of long-term liabilities3,111 539
Total current liabilities14,990 3,361
LONG-TERM LIABILITIES
Credit facility83,043 17,356
Joint Operation borrowings28,845
Decommissioning provision633 269
Foreign withholding tax liability1,445
Other liabilities5,222 671
Total long-term liabilities119,188 18,296
TOTAL LIABILITIES134,178 21,657
SHAREHOLDERS’ EQUITY
Share capital200,913 197,991
Contributed surplus28,404 26,172
Accumulated other comprehensive loss(3,867)(4,293)
Deficit(65,829)(137,588)
TOTAL SHAREHOLDERS’ EQUITY159,621 82,282
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 293,799 $ 103,939

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) $ in ThousandsDec. 31, 2019USD ($)
Statement Of Financial Position [Abstract]
Company’s share50.00%
Company's share in cash and cash equivalents $ 52,495
Joint Operation’s cash and cash equivalents $ 104,989

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income/(Loss) (Details) - USD ($) shares in Thousands, $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
EXPENSES
Exploration expenditures $ (8,525) $ (10,015)
General and administrative(6,692)(8,750)
Stock-based compensation(4,119)(4,592)
Share of income/(loss) in Joint Venture3,648 (347)
Total expenses(15,688)(23,704)
OTHER ITEMS
Gain on dilution of interest in Joint Venture74,492
Gain on increase of interest in Joint Venture6,104
Transaction costs(1,102)(974)
Foreign exchange (loss)/gain(326)3,828
Finance costs(2,928)(343)
Finance and other income855 1,267
Total other items70,991 9,882
NET INCOME/(LOSS) BEFORE TAX55,303 (13,822)
Tax expense(1,445)
NET INCOME/(LOSS) BEFORE DISCONTINUED OPERATIONS53,858 (13,822)
LOSS FROM DISCONTINUED OPERATIONS(2,193)(14,445)
NET INCOME/(LOSS)51,665 (28,267)
OTHER COMPREHENSIVE INCOME/(LOSS) ITEMS THAT MAY BE RECLASSIFIED SUBSEQUENTLY TO NET LOSS
Unrealized gain/(loss) on translation to reporting currency426 (4,179)
TOTAL COMPREHENSIVE INCOME/(LOSS) $ 52,091 $ (32,446)
INCOME/(LOSS) PER SHARE FROM CONTINUING OPERATIONS
Income/(loss) per share - basic $ 0.60 $ (0.16)
Income/(loss) per share - diluted0.59(0.16)
INCOME/(LOSS) PER SHARE
Income/(loss) per share - basic0.58(0.32)
Income/(loss) per share - diluted $ 0.56 $ (0.32)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING- BASIC89,138 88,598
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING- DILUTED91,750 88,598

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in ThousandsTotalShare CapitalContributed SurplusAccumulated Other Comprehensive LossDeficit
Beginning balance at Dec. 31, 2017 $ 108,767 $ 197,390 $ 20,812 $ (114) $ (109,321)
Beginning balance, Shares at Dec. 31, 201788,479
Shares issued on conversion of RSUs, DSUs and exercise of options9 $ 601 (592)
Shares issued on conversion of RSUs, DSUs and exercise of options, shares249
Stock-based compensation4,684 4,684
DSUs and RSUs issued in lieu of directors' fees and salaries1,268 1,268
Net Income (Loss)(28,267)(28,267)
Other comprehensive income (loss)(4,179)(4,179)
Ending balance at Dec. 31, 201882,282 $ 197,991 26,172 (4,293)(137,588)
Ending balance, Shares at Dec. 31, 201888,728
Shares issued on conversion of RSUs, DSUs and exercise of options568 $ 2,922 (2,354)
Shares issued on conversion of RSUs, DSUs and exercise of options, shares1,115
Stock-based compensation4,128 4,128
DSUs issued in lieu of directors' fees458 458
Credit to equity as a result of the Project Investment20,094 20,094
Net Income (Loss)51,665 51,665
Other comprehensive income (loss)426 426
Ending balance at Dec. 31, 2019 $ 159,621 $ 200,913 $ 28,404 $ (3,867) $ (65,829)
Ending balance, Shares at Dec. 31, 201989,843

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
OPERATING ACTIVITIES
Net income/(loss) for the year $ 51,665 $ (28,267)
Items not affecting cash:
Stock-based compensation4,128 4,731
Depreciation1,062 1,364
Foreign exchange loss/(gain)326 (3,828)
Share of (income)/loss in Joint Venture(3,648)347
Inventories write down326
Gain on dilution of interest in Joint Venture(74,492)
Gain on increase of interest in Joint Venture(6,104)
Impairment of Organoclay property, plant and equipment11,580
Accrued interest and other expenses744 987
Changes in non-cash working capital items:
Decrease/(increase) in receivables, prepaids and deposits2,011 (264)
Decrease in inventories343 443
Increase in accounts payable and accrued liabilities214 141
Net cash used in operating activities(17,647)(18,544)
INVESTING ACTIVITIES
Loans to Joint Venture (Note 5)(66,250)(24,000)
Repayment of loans to Joint Venture and accrued interest (Note 5)8,778 25,000
Contribution to Joint Venture(1,019)(11,337)
Cash acquired as a result of Joint Operation accounting (Note 5)79,984
Additions to exploration and evaluation assets(560)(1,416)
Release of restricted cash1,666
Additions to property, plant and equipment(29,290)(586)
Net cash used in investing activities(8,357)(10,673)
FINANCING ACTIVITIES
Proceeds from stock option exercises568 9
Drawdowns from the credit facility (Note 8)66,250 17,500
Debt financing costs paid(1,550)
Finance lease repayments(269)(52)
Repayment of long-term borrowings(135)(129)
Other (Note 8)1,500
Net cash provided by financing activities67,914 15,778
EFFECT OF FOREIGN EXCHANGE ON CASH100 (351)
CHANGE IN CASH AND CASH EQUIVALENTS42,010 (13,790)
CASH AND CASH EQUIVALENTS - BEGINNING OF THE YEAR41,604 55,394
CASH AND CASH EQUIVALENTS - END OF THE YEAR $ 83,614 $ 41,604

Nature of Operations

Nature of Operations12 Months Ended
Dec. 31, 2019
Nature Of Operations [Abstract]
Nature of Operations1.
NATURE OF OPERATIONS Lithium Americas Corp. (“Lithium Americas” or the “Company”) is a Canadian - the advancement of the Cauchari-Olaroz project (“Cauchari-Olaroz”), located in Jujuy Province of Argentina, and the Thacker Pass project (“Thacker Pass”), located in north-western Nevada, USA. Cauchari-Olaroz is a lithium brine project and is owned by a legal entity in Argentina, Minera Exar S.A. (“Minera Exar”). The Company and Ganfeng Lithium Co. Ltd., (“Ganfeng”) are joint operation partners in Minera Exar. Thacker Pass is a sedimentary-based lithium property located in the McDermitt Caldera in Humboldt County, Nevada, and is owned by the Company’s wholly owned subsidiary, Lithium Nevada Corp. (“Lithium Nevada”). 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 300, 900 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1E5. 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 property, plant and equipment 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. Upon closing of the previously announced Project Investment (as defined in Note 5 below) on August 16, 2019, the Cauchari-Olaroz project is accounted for as a joint operation and the Company recognizes its share of any assets, liabilities, revenues and expenses of the project (refer to Note 5).

Basis of Preparation and Presen

Basis of Preparation and Presentation12 Months Ended
Dec. 31, 2019
Basis Of Preparation And Presentation [Abstract]
Basis of Preparation and Presentation2.
BASIS OF PREPARATION AND PRESENTATION These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements were approved for issuance by the Board of Directors on March 12, 2020. These consolidated financial statements are expressed in US dollars, the Company’s presentation currency, and have been prepared on a historical cost basis. The accounting policies set out in Note 3 have been applied consistently to all years presented in these consolidated financial statements, unless otherwise stated.

Significant Accounting Policies

Significant Accounting Policies12 Months Ended
Dec. 31, 2019
Disclosure Of Significant Accounting Policies [Abstract]
Significant Accounting Policies3.
SIGNIFICANT ACCOUNTING POLICIES Critical Accounting Estimates and Judgments Significant areas where judgment is applied, apart from those involving estimations, are: Joint Arrangements If a company is a party to an arrangement over which it does not have sole control, judgment is required in determining whether joint control over this arrangement exists and, if so, which parties have joint control and whether an arrangement is a joint venture or joint operation. In assessing whether joint control exists, the Company analyzes the activities of each arrangement and determines which activities most significantly affect the returns of the arrangement over its life. These activities are determined to be the relevant activities of the arrangement. If unanimous consent is required over the decisions about the relevant activities, the parties whose consent is required would have joint control over the arrangement. The judgments around which activities are considered the relevant activities of the arrangement are subject to analysis by each of the parties to the arrangement and may be interpreted differently. When performing this assessment, the Company generally considers decisions about activities such as managing the asset while it is being designed, developed and constructed, during its operating life and during the closure period. The Company may also consider other activities including the approval of budgets, expansion and disposition of assets, financing, significant operating and capital expenditures, appointment of key management personnel, representation on the board of directors and other items. When circumstances or contractual terms change, the Company reassesses the control group and the relevant activities of the arrangement. If a company has joint control over the arrangement, an assessment of whether the arrangement is a joint venture or joint operation is required. This assessment is based on whether a company has rights to the assets and obligations for the liabilities relating to the arrangement or whether a company has rights to the net assets of the arrangement. In making this determination, the Company reviews the legal form of the arrangement, the terms of the contractual arrangement and other facts and circumstances. In a situation where the legal form and the terms of the contractual arrangement do not give the Company rights to the assets and obligations for the liabilities, an assessment of other facts and circumstances is required, including whether the activities of the arrangement are primarily designed for the provision of output to the parties and whether the parties are substantially the only source of cash flows contributing to the arrangement. The consideration of other facts and circumstances may result in the conclusion that a joint arrangement is a joint operation. This conclusion requires judgment and is specific to each arrangement. On closing of the Project Investment (as defined in Note 5) Lithium Americas and Ganfeng implemented certain amendments to the Shareholders Agreement governing the Cauchari-Olaroz joint arrangement, including the provision of equal representation on the Minera Exar board of directors and the Management Committee governing the project and an obligation to purchase all of the output of Minera Exar at market price. Facts and circumstances have led the Company to conclude that upon closing of the Project Investment, Minera Exar and Exar Capital B.V. are a joint operation for the purposes of the Company’s consolidated financial statements. The other facts and circumstances considered include the provision of output to the parties of the joint arrangement, agreement by the Company and Ganfeng to fund the construction of the project, jointly control the project’s budget, be the sole source of funding for Minera Exar, and distribute the project’s free cash flow (as defined in the Shareholders’ Agreement) upon commencement of commercial production. For Minera Exar, the Company and Ganfeng will take their share of the output from the assets directly over the life of the arrangement. Exar Capital B.V. is subject to the same constraints and controls as Minera Exar.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Prior to closing of the Project Investment, Minera Exar and Exar Capital B.V. were accounted for as a Joint Venture under the equity method. The accounting treatment for these entities may be reassessed in 2020 in case the most recent transaction with Ganfeng Impairment of exploration and evaluation assets The application of the Company’s accounting policy for impairment of exploration and evaluation assets requires judgment to determine whether indicators of impairment exist including information such as, the period for which the Company has the right to explore including expected renewals, whether substantive expenditures on further exploration and evaluation of resource properties are budgeted and evaluation of the results of exploration and evaluation activities up to the reporting date. Management has performed an impairment indicator assessment on the Company’s exploration and evaluation assets and has concluded that no impairment indicators exist as of December 31, 2019. Impairment of the Company’s share of the Joint Operation’s property, plant and equipment The application of the Company’s accounting policy for the impairment assessment of its share of the Joint Operation’s property, plant and equipment requires judgment to determine whether indicators of impairment exist. A review of impairment indicators is performed at the Joint Operation’s level and includes consideration of both external and internal sources of information, including factors such as market and economic conditions, taxation, prices and forecasts, capital expenditure requirements, future operating costs and production volumes. Management has performed an assessment and concluded that no impairment indicators exist as of December 31, 2019. Functional currency Items included in the financial statements of each of the Company’s subsidiaries and the Joint Operation 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 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. Principles of Consolidation These consolidated financial statements include the accounts of Lithium Americas Corp. and its wholly-owned USA subsidiaries Lithium Nevada Corp., KV Project LLC, and RheoMinerals Inc., and Canadian wholly-owned subsidiary 2265866 Ontario Inc. All inter-company transactions and balances have been eliminated. Subsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances and unrealized gains on transactions between group companies are eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Joint Arrangements A joint arrangement is defined as one over which two or more parties have joint control, which is the contractually agreed sharing of control over an arrangement. This exists only when the decisions about the relevant activities (being those that significantly affect the returns of the arrangement) require the unanimous consent of the parties sharing control. There are two types of joint arrangements: joint operations and joint ventures. A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and are the only source of funding the liabilities relating to the arrangement. In relation to the Company’s interest in the joint operation, the Company recognizes its share of any assets, liabilities, revenues and expenses of the joint operation. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Investments in joint ventures are accounted for using the equity method. On acquisition, an equity method investment is initially recognized at cost. The carrying amount of equity method investments includes goodwill identified on acquisition, net of any accumulated impairment losses. The carrying amount is adjusted by the Company’s share of post-acquisition net income or loss; depreciation, amortization or impairment of the fair value adjustments made on the underlying balance sheet at the date of acquisition; dividends; cash contributions; and the Company’s share of post-acquisition movements in Other Comprehensive Income (“OCI”). Foreign Currency Translation Functional and Presentation Currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in US dollars. The functional currency of all subsidiaries in the Company’s group is the US dollar, while the functional currency of Lithium Americas Corp. is the Canadian dollar. The functional currency of Minera Exar S.A., the Company’s Joint Venture, is the US dollar. Transactions and Balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in profit or loss. They are deferred in equity if they are attributable to part of the net investment in a foreign operation. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equities classified as available-for-sale financial assets are recognized in other comprehensive income.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Parent and Subsidiary Companies The results and financial position of foreign operations that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

assets and liabilities for each reporting date are translated at the closing rate at that reporting date;

income and expenses are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and

all resulting exchange differences are recognized in other comprehensive loss. The Company recognizes its share of the exchange differences of its joint ventures which result from translation of the results and financial position of its foreign joint ventures from the functional currency to the presentation currency. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely in the foreseeable future, foreign exchange gains and losses arising from the item are considered to form part of the net investment in a foreign operation and are recognized in other comprehensive income. When an entity disposes of its entire interest in a foreign operation, or loses control, joint control, or significant influence over a foreign operation, the foreign currency gains or losses accumulated in other comprehensive income related to the foreign operation are recognized in profit or loss. If an entity disposes of part of an ownership interest in a foreign operation which remains a subsidiary or a joint venture, a proportionate amount of foreign currency gains or losses accumulated in other comprehensive income related to the subsidiary is reallocated between controlling and non-controlling interests. Ownership interest is treated solely as a percentage ownership in a subsidiary or a joint venture. Cash and Cash Equivalents Cash and cash equivalents consist of cash held with banks and highly liquid short-term investments which can be withdrawn at any time Exploration and Evaluation Assets Exploration expenditures not including the acquisition costs and claim maintenance costs are expensed until the establishment of technical feasibility and commercial viability based on a combination of the following factors:

The extent to which mineral reserves or mineral resources as defined in National Instrument 43-101 (“NI 43-101”) have been identified through a feasibility study or similar document;

The status of environmental permits; and

The status of mining leases or permits.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Costs incurred relating to the acquisition and claim maintenance of mineral properties, including option payments and annual fees to maintain the property in good standing, are capitalized and deferred by property until the project to which they relate is sold, abandoned, impaired or placed into production. After recognition, the Company uses the cost model for exploration and evaluation assets. The Company assesses its exploration and evaluation assets for indications of impairment on each balance sheet date and when events and circumstances indicate a risk of impairment. A property is written down or written off when the Company determines that an impairment of value has occurred or when exploration results indicate that no further work is warranted. Exploration and evaluation assets are tested for impairment immediately prior to reclassification to mineral property development costs. Although the Company has taken steps to verify title to mineral properties in which it has an interest, these procedures do not guarantee the Company’s title. Such properties may be subject to prior agreements or transfers, or title may be affected by undetected defects. Property, Plant and Equipment On initial recognition, property, plant and equipment are valued at cost. Cost includes the purchase price and directly attributable cost of acquisition or construction required to bring the asset to the location and condition necessary to be capable of operating in the manner intended by the Company, including appropriate borrowing costs and foreign exchange losses or gains on borrowings and related cash used to construct qualifying assets as defined under IFRS. During the development and commissioning phase, pre-production expenditures, net of incidental proceeds from sales during this period, Capitalization of costs incurred ceases when commercial production commences in the manner intended by management. The Company applies judgment in its assessment of when the asset is capable of operating in the manner intended by management. Property, plant and equipment are subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses, with the exception of land which is not depreciated. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items or major components. Property, plant and equipment that are currently in use are depreciated as follows:

Process testing facility equipment included in “Equipment and machinery” – straight-line basis over the estimated useful life of 10 years;

Office equipment included in “Other” – declining balance method at 20% annual rate ; and

Other equipment included in “Other” – straight-line basis over the estimated useful life of 7-15 years. The assets’
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Impairment of Property, Plant and Equipment Property, plant and equipment are assessed for impairment indicators at each reporting date or when an impairment indicator arises if not at a reporting date. Impairment indicators are evaluated and, if considered necessary, an impairment assessment is carried out. If an impairment loss is identified, it is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less cost of disposal and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). These are typically individual mines, plants or development projects. Where the factors which resulted in an impairment loss subsequently reverse, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but to an amount that does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss. Non-current assets (or disposal groups) held for sale and discontinued operations Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits, financial assets and investment property that are carried at fair value and contractual rights under insurance contracts , which are specifically exempt from this requirement. An impairment loss is recognised for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of an asset (or disposal group), but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale of the non-current asset (or disposal group) is recognised at the date of derecognition. Non-current assets (including those that are part of a disposal group) are not depreciated or amortised while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognised. Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) A discontinued operation is a component of the entity that has been disposed of or is classified as held for sale and that represents a separate major line of business or geographical area of operations, is part of a single co-ordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the statement of profit or loss. Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether the Company has the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement and if the Company has the right to direct the use of the asset. At inception or on reassessment of a contract that contains one or more lease components, the Company allocates the consideration in the contract to each lease component on the basis of their relative standalone prices. The Company leases offices, buildings, equipment and cars. Lease contracts are typically made for fixed periods of 3 to 5 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Until the year ended December 31, 2018, leases of property, plant and equipment were classified as either finance or operating leases. Payments made under operating leases (net of any incentives received from the lessor) were charged to profit or loss on a straight-line basis over the period of the lease. From January 1, 2019, leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Company. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

fixed payments (including in-substance fixed payments), less any lease incentives receivable;

variable lease payment that are based on an index or a rate;

amounts expected to be payable by the lessee under residual value guarantees;

the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and

payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Right-of-use assets are measured at cost comprising the following:

the amount of the initial measurement of lease liability;

any lease payments made on or before the commencement date less any lease incentives received;

any initial direct costs; and

restoration costs. Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Inventories Organoclay products, in-process and stockpile inventories are recorded at the lower of average cost and net realizable value. The cost of finished goods and work-in-progress is determined by the weighted average cost method and comprises raw materials, direct labour, and other direct costs, as well as related production overheads including applicable depreciation on property, plant and equipment. Net realizable value is the estimated selling price less applicable selling expenses. When inventories have been written down to net realizable value, a new assessment of net realizable value is made in each subsequent period. When the circumstances that caused the write down no longer exist, the amount of the write down is reversed. Materials and supplies inventories are valued at the lower of average cost and net realizable value. Cost includes acquisition, freight and other directly attributable costs. Financial Instruments Financial assets and liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. On initial recognition, financial assets and liabilities are classified as and measured at: amortized cost, fair value through profit or loss (“FVTPL”) or fair value through other comprehensive income (“OCI”) according to their contractual cash flow characteristics and the business models under which they are held. Financial assets are measured at amortized cost if they are held for the collection of contractual cash flows where those cash flows solely represent payments of principal and interest. The Company’s intent is to hold these financial assets in order to collect contractual cash flows and the contractual terms give rise to cash flows on specified dates that are solely payments of principal and interest on the principal amount outstanding. All of the Company’s financial assets fall under this category. Financial liabilities are measured at amortized cost unless they are required to be measured at FVTPL. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred and the Company has transferred substantially all risks and rewards of ownership.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Impairment of financial assets. The Company assesses on a forward-looking basis the expected credit losses associated with its financial assets carried at amortized cost and fair value through OCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Company applies the simplified approach permitted by IFRS 9, Financial Instruments (“IFRS 9”), which requires expected lifetime losses to be recognised from initial recognition of the receivables. Borrowing Costs Borrowing costs directly attributable to the acquisition, construction or production of assets requiring a substantial period of time to get ready for their intended use or sale are capitalized as part of the cost of that asset. Capitalization of borrowing costs begins when there are borrowings and activities commence to prepare an asset for its intended use. Capitalization of borrowing costs ends when substantially all activities necessary to prepare a qualifying asset for its intended use are complete. When proceeds of project specific borrowings are invested on a temporary basis, borrowing costs are capitalized net of any investment income. Provisions Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost. Close down and restoration costs include dismantling and demolition of infrastructure and the removal of residual materials and remediation of disturbed areas. Estimated close down and restoration costs are provided for in the accounting period when the obligation arising from the related disturbance occurs, based on the net present value of estimated future costs. The cost estimates are updated during the life of the operation to reflect known development, such as revisions to cost estimates and to the estimated lives of the operations, and are subject to formal reviews at regular intervals. The initial closure provision together with changes resulting from changes in estimated cash flows or discount rates are capitalized within capital assets. These costs are then depreciated over the lives of the asset to which they relate, typically using the units of production method. The amortization or unwinding of the discount applied in establishing the net present value of provisions is charged to the statement of comprehensive (loss)/income as a financing cost. Provision is made for the estimated present value of the costs of environmental cleanup obligations outstanding at the statement of financial position date. Income Taxes Income tax expense comprises current and deferred tax. Income tax is recognized in profit or loss except to the extent that it relates to items recognized directly in equity. Current tax expense is the expected tax payable on taxable income for the year, using tax rates enacted or substantively enacted at period-end, adjusted for amendments to tax payable with regards to previous years.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Deferred tax is recorded using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Temporary differences are not provided for the initial recognition of assets or liabilities that affect neither accounting or taxable loss, nor differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the statement of financial position date. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. To the extent that the Company does not consider it probable that a deferred tax asset will be recovered, the deferred tax asset is not recorded. Share Capital Common shares are classified as equity. Incremental costs directly attributable to the issuance of shares are recognized as a deduction from equity. Revenue The Company recognizes revenue from the sales of products when a customer obtains control of the product and the Company has satisfied its performance obligation. These criteria are generally met at the time the product is shipped or delivered to the customer and, depending on the delivery conditions, title and risk have passed to the customer and acceptance of the product, when contractually required, has been obtained. Revenue is measured based on the price specified in the sales contract, net of discounts, at the time of sale. Earnings/(Loss) per Share Basic earnings/(loss) per share is computed by dividing the net earnings or loss attributable to shareholders of the Company by the weighted average number of common shares outstanding during the reporting period. The diluted earnings/loss per share calculation is based on the weighted average number of common shares outstanding during the period, plus the effects of dilutive common share equivalents. This method requires that the dilutive effect of outstanding options and warrants issued should be calculated using the treasury stock method. This method assumes that all common share equivalents have been exercised at the beginning of the period (or at the time of issuance, if later), and that the funds obtained thereby were used to purchase common shares of the Company at the average trading price of the common shares during the period, but only if dilutive. Stock-Based Compensation From time to time the Company grants stock options to buy common shares of the Company to directors, officers, employees an

Cash and Cash Equivalents

Cash and Cash Equivalents12 Months Ended
Dec. 31, 2019
Cash And Cash Equivalents [Abstract]
Cash and Cash Equivalents4.
CASH AND CASH EQUIVALENTS
As at December 31,
As at December 31,
2019 $
2018 $
Cash
53,894
2,905
Short-term bank deposits
29,720
38,699
83,614
41,604
As at December 31, 2019, $388 of cash was held in Canadian dollars (December 31, 2018 – $215), $1,011 of cash was held in US dollars (December 31, 2018 – $2,691) and the Company’s $52,495 share of Joint Operation’s cash was held in US dollars. Cash at bank balances earn interest between 0.25-1.5%. Short-term bank deposits are held in US dollars and earn interest between 1.0-2.81%.

Joint Operation

Joint Operation12 Months Ended
Dec. 31, 2019
Disclosure Of Joint Operations [Abstract]
JOINT OPERATION5.
JOINT OPERATION The Company and Ganfeng are shareholders in Minera Exar , the jointly controlled company that holds the Cauchari-Olaroz project located in Jujuy province of Argentina. In addition, the Company and Ganfeng are shareholders in Exar Capital B.V., the jointly controlled company in the Netherlands that provides financing to Minera Exar for the purpose of advancing the construction of the Cauchari-Olaroz project. On August 16, 2019, the Company closed the transaction agreement whereby Ganfeng agreed to subscribe, through a wholly-owned subsidiary, for 141 million newly issued shares of Minera Exar, for cash consideration of $160,000 (such transaction, the “Project Investment”). As a result, Ganfeng increased its direct interest in Minera Exar from 37.5% to 50%, and diluted Lithium Americas’ interest from 62.5% to 50%, each subject to the rights of JEMSE (a company owned by the Government of Jujuy province) to acquire an 8.5% interest in Minera Exar. The Company’s and Ganfeng’s interests in Exar Capital B.V. remained unchanged. On closing of the Project Investment, Minera Exar repaid an $8,000 loan made by the Company, together with accrued but unpaid interest thereon. During the year ended December 31, 2019, the Company recognized $1,102 of transaction costs related to the Project Investment as an expense in the statement of comprehensive income/(loss). Beginning on August 16, 2019, and as at December 31, 2019, the Company recognized its share of the assets and liabilities of Minera Exar and Exar Capital B.V., including its share of Minera Exar’s cash and cash equivalents of $52,495 and its share of Minera Exar’s property, plant and equipment of $159,851. Upon transition from Joint Venture accounting to Joint Operation accounting (refer to Note 3), $20,094 was credited to the Company’s deficit as a result of a difference between the proportion of the Company’s and Ganfeng’s loan funding of and the respective ownership interests in Exar Capital B.V. The Joint Operation’s Cauchari-Olaroz project is in the development phase and accordingly, all costs directly attributable to the project
5.
JOINT OPERATION (continued) Gain on Dilution of interest in Joint Venture Upon closing of the Project Investment the Company recognized a $74,492 gain on dilution of its interest in the Joint Venture which was calculated as follows:
$
Company’s 50% share of the $160,000 increase in Minera Exar's share capital
80,000
Carrying value of the Company's diluted share in Investment in Joint Venture
(5,508
)
Gain on dilution of interest in Joint Venture
74,492
Investment in Joint Venture Prior to the closing of the Project Investment on August 16, 2019 Minera Exar and Exar Capital B.V. were accounted for as a Joint Venture:
Minera S.A.
Exar Capital B.V.
Total
$
$
$
Investment in Joint Venture, as at December 31, 2017
19,637
-
19,637
Share of (loss)/income of Joint Venture
(1,077
)
730
(347
)
Contribution to Joint Venture
11,403
7,390
18,793
Return of the investment
(8,004
)
-
(8,004
)
Increase in Company's share
6,104
-
6,104
Elimination of unrealized gain on intercompany transactions
(833
)
(68
)
(901
)
Investment in Joint Venture, as at December 31, 2018
27,230
8,052
35,282
Share of (loss)/income of Joint Venture
(414
)
4,062
3,648
Contribution to Joint Venture
1,059
37,423
38,482
Elimination of unrealized gain on intercompany transactions
(334
)
(1,576
)
(1,910
)
Share of increase in Minera Exar net assets as a result of the Project Investment, less diluted interest
74,492
-
74,492
Transition to Joint Operation accounting
(102,033
)
(47,961
)
(149,994
)
Investment in Joint Venture, as at December 31, 2019
-
-
-
5.
JOINT OPERATION (continued) Loans to Minera Exar and Exar Capital B.V. The Company has entered into the following loan agreements with Minera Exar and Exar Capital B.V., the terms of which are summarized below:
$
Loans to Joint Venture, as at December 31, 2017
11,479
Loans granted to Minera Exar in 2018, maturity 7 years, interest rate LIBOR+7.57%
16,500
Repayment of principal and accrued interest
(18,740
)
Accrued interest
1,697
Loans granted to Exar Capital B.V., maturity 7 years, interest rate LIBOR+9.89%
7,500
The difference between the face value and the fair value of loans to Exar Capital B.V.
(5,827
)
Loans to Joint Venture, as at December 31, 2018
12,609
Accrued interest
3,791
Loans granted to Exar Capital B.V., maturity 7 years, interest rate LIBOR+9.89%
66,250
The difference between the face value and the fair value of loans to Exar Capital B.V.
(37,423
)
Repayment of loan to Minera Exar and accumulated interest thereon
(8,778
)
Share of loans of the Joint Operation
23,241
Elimination of loans as a result of Joint Operation accounting
(21,731
)
Loans to Joint Operation, as at December 31, 2019
37,959
The interest on the loans to Minera Exar is accrued semi-annually on a non–compounding basis. The proceeds from the loans are being used by Minera Exar for project exploration, mining construction and development purposes. As part of the Project Investment, Minera Exar repaid $8,778 in loans and accrued interest to the Company. The loans to Exar Capital B.V. are non-interest bearing and are provided to fund the construction of the Cauchari-Olaroz project. The loans are accounted for initially at fair value and subsequently at amortized cost. The fair value of the loans at inception was calculated using discounted cash flow technique applying market interest rates. The difference between the face value and the fair value of $37,423 in the reporting period was previously recognized as part of Investment in Joint Venture. On transition to Joint Operation accounting, the uneliminated difference between the face value and the fair value of loans provided to the Joint Operation as a result of a difference between the proportion of the Company’s and Ganfeng’s loan funding of and the respective ownership interests in Exar Capital B.V. was recognized in deficit in accordance with IFRS 11. Upon closing of the Project Investment and transition to Joint Operation accounting, the Company recognized its $23,241 share of loans of Exar Capital B.V. to Minera Exar. At the same time $21,731 of the Company’s loans to Exar Capital B.V. were eliminated, which represents 62.5% of the total amount of loans granted by the Company to Exar Capital B.V.
5.
JOINT OPERATION (continued) Joint Operation Commitments and Contingencies As at December 31, 2019, the Company’s 50% share of the Joint Operation’s commitments and contingencies is as follows:

Annual royalty of $100 due in May of every year and expiring in 2041;
• Community programs agreements with six communities located in the Cauchari-Olaroz project area have terms from five to thirty years. The annual fees due are $186 in 2020, $198 in 2021 and $278 between 2022 and 2061, assuming that these agreements will be extended for the life of the project. The annual fees are subject to change. The Joint Operation’s obligations to make the payments are subject to continued development of the project and commencement and continuation of production operations on the project.

Commitments related to contracts for construction of evaporation ponds and other construction contracts of $14,596. 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 of 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 to the mining properties, Los Boros granted to the Joint Venture a mortgage over those mining properties for $12,000. In accordance with the Option Agreement, on November 27, 2018 Minera Exar paid Los Boros a $300 royalty which was due within 10 days of the commercial plant construction start date. According to the Option Agreement , a 3% net profit interest royalty will have to be paid to Los Boros by the Joint Venture for 40 years, payable in Argentinian pesos, annually within the 10 business days after calendar year end. The Joint Venture can cancel the first 20 years of net profit interest royalties 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 the provision of management services as required to develop the project. If

Property Plant and Equipment

Property Plant and Equipment12 Months Ended
Dec. 31, 2019
Disclosure Of Property Plant And Equipment [Abstract]
Property Plant and Equipment6.
PROPERTY, PLANT AND EQUIPMENT
Cauchari-Olaroz Project 1
Land
Buildings
Equipment and machinery
Organoclay plant
Other 2
Total
$
$
$
$
$
$
$
Cost
As at December 31, 2017
-
386
2,143
5,562
11,495
636
20,222
Additions
-
-
-
624
-
187
811
Disposals
-
-
-
(1,120
)
(24
)
-
(1,144
)
As at December 31, 2018
-
386
2,143
5,066
11,471
823
19,889
Adjustment on adoption of IFRS 16 (Note 3)
-
-
-
-
-
296
296
Restated balance at January 1, 2019
-
386
2,143
5,066
11,471
1,119
20,185
50% of Minera Exar fixed assets
124,752
-
-
-
-
-
124,752
Additions
31,447
-
-
526
-
1,046
33,019
Capitalization of interest
2,110
-
-
-
-
-
2,110
Disposal of fixed assets
-
-
-
-
-
(60
)
(60
)
Reclassification to assets held for sale (Note 18)
-
(386
)
(2,143
)
(4,641
)
(11,471
)
(216
)
(18,857
)
As at December 31, 2019
158,309
-
-
951
-
1,889
161,149
Cauchari-Olaroz Project 1
Land
Buildings
Equipment and machinery
Organoclay plant
Other 2
Total
$
$
$
$
$
$
$
Accumulated depreciation
As at December 31, 2017
-
-
183
783
1,006
180
2,152
Depreciation for the year
-
-
107
406
576
121
1,210
Disposals
-
-
-
(476
)
-
-
(476
)
Impairment
-
-
545
1,146
9,889
-
11,580
As at December 31, 2018
-
-
835
1,859
11,471
301
14,466
50% of Minera Exar accumulated depreciation
1,260
-
-
-
-
-
1,260
Depreciation for the year
195
-
75
425
-
431
1,126
Disposals of fixed assets
-
-
-
-
-
(50
)
(50
)
Reclassification to assets held for sale (Note 18)
-
-
(910
)
(2,087
)
(11,471
)
(109
)
(14,577
)
As at December 31, 2019
1,455
-
-
197
-
573
2,225
Cauchari-Olaroz Project 1
Land
Buildings
Equipment and machinery
Organoclay plant
Other 2
Total
$
$
$
$
$
$
$
Net book value
As at December 31, 2018
-
386
1,308
3,207
-
522
5,423
As at December 31, 2019
156,854
-
-
754
-
1,316
158,924
1 Cauchari-Olaroz Project includes the Company’s 50% share of the Cauchari-Olaroz project construction costs and project-related costs incurred directly by the Company 2 Other category includes right of use assets with $1,140 cost and $259 accumulated depreciation as at December 31, 2019.

Exploration and Evaluation Asse

Exploration and Evaluation Assets12 Months Ended
Dec. 31, 2019
Exploration And Evaluation Assets [Abstract]
Exploration and Evaluation Assets7.
EXPLORATION AND EVALUATION ASSETS Exploration and evaluation assets relating to the Thacker Pass project were as follows:
December 31, 2019
December 31, 2018
$
$
Acquisition costs
Balance, beginning
3,540
2,104
Additions
560
1,436
Write offs
(248
)
-
Total exploration and evaluation assets
3,852
3,540
The Company has the following contingent obligations to make future royalty and other payments on the Thacker Pass project. These amounts will only be payable if the Company continues to hold the subject claims in the future and the royalties will only be incurred if the Company starts production from the Thacker Pass project.

$2 per year in advance net smelter return royalty payments due on November 15 on four mining claims. The Company’s interest in these claims is subject to a 1.5% net smelter return royalty;

20% royalty on revenue solely in respect of uranium;

8% gross revenue royalty on all claims up to a cumulative payment of $22,000. The royalty will then be reduced to 4% for the life of the project. The Company has the option at any time to reduce the royalty to 1.75% upon payment of $22,000;

Option payments of $110 payable in 2020, $137.5 in 2021 and 2022, and $2,887.5 in 2023 to purchase water rights.

Long-Term Borrowings

Long-Term Borrowings12 Months Ended
Dec. 31, 2019
Borrowings [Abstract]
Long-Term Borrowings8.
LONG-TERM BORROWINGS
As at December 31,
As at December 31,
2019 $
2018 $
Current portion of long-term borrowings
Accrued interest
2,662
338
Other liabilities
449
201
3,111
539
Long-term borrowings
Credit facility (net of financing costs)
83,043
17,356
Share of Joint Operation borrowings
28,845
-
Other liabilities
5,222
671
117,110
18,027
120,221
18,566
8.
LONG-TERM BORROWINGS (continued) Credit Facility During the year ended December 31, 2019, the Company received $66,250 from its drawdowns of the $205,000 senior credit facility, comprised of $43,063 from Ganfeng and $23,187 from BCP Innovation Pte Ltd. (“Bangchak”) Joint Operation borrowings The Company recognized its 62.5% share of Exar Capital B.V. loans received from Ganfeng. Loans are non-interest bearing and have a $28,845 carrying value (discounted) and a $59,694 face value net of financing costs as at December 31, 2019. Limited Recourse Loan Facility In October 2018, The $205,000 senior credit facility and the Limited Recourse Loan Facility contain operating and reporting covenants, which the Company was in compliance with as at December 31, 2019. Other Liabilities Other liabilities consist of lease liabilities, $1,500 mining contractor liability (Note 12) and the Company’s share of Minera Exar long-term liabilities recorded as a result of joint operation accounting, including a $2,236 long-term payable for certain mining properties that comprised a portion of the Cauchari-Olaroz project, acquired by the Company in 2018 upon exercise of the Los Boros option agreement (Note 5).

Equity Compensation

Equity Compensation12 Months Ended
Dec. 31, 2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]
Equity Compensation9.
EQUITY COMPENSATION 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 performance share units (“PSUs”) that, subject to a recipient’s deferral right in accordance with the Income Tax Act (Canada), convert automatically into common shares upon vesting; and (3) for independent 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.
9.
EQUITY COMPENSATION (continued) Equity Incentive Plan (continued) Restricted Share Units (in thousands) During the year ended December 31, 2019, the Company granted 955 RSUs to its executive officers, consultants and employees. The total estimated fair value of the RSUs was $4,613 (2018 - $1,048) based on the market value of the Company’s shares on the grant date. As at December 31, 2019, $981 of the fair value of RSUs previously granted but not yet vested remains to be expensed in fiscal 2020, $404 in 2021 and $140 in 2022. During the year ended December 31, 2019, stock-based compensation expense related to RSUs of $2,252 was charged to operating expenses (2018 - $939). A summary of changes to the number of outstanding RSUs is as follows:
Number of RSUs (in 000's)
Balance, RSUs outstanding as at December 31, 2017
1,550
Converted into common shares
(123
)
Granted
246
Forfeited
(5
)
Balance, RSUs outstanding as at December 31, 2018
1,668
Converted into common shares
(206
)
Granted
955
Forfeited
(20
)
Cancelled
(9
)
Balance, RSUs outstanding as at December 31, 2019
2,388
Deferred Share Units (in thousands) During the year ended December 31, 2019 the Company granted 135 DSUs (2018 – 87) with the total estimated fair value of $611 (2018 – $497) to the Company’s independent directors in lieu of cash payments of directors’ fees.
Number of DSUs (in 000's)
Balance, DSUs outstanding as at December 31, 2017
41
Granted
87
Balance, DSUs outstanding as at December 31, 2018
128
Granted
135
Converted into common shares
(35
)
Balance, DSUs outstanding as at December 31, 2019
228
9.
EQUITY COMPENSATION (continued) Equity Incentive Plan (continued) Stock Options (in thousands) No stock options were granted by the Company during the year ended December 31, 2019 (2018 - 90). Stock options outstanding and exercisable as at December 31, 2019 are as follows:
Range of Exercise Prices CAD$
Number Outstanding as at December 31, 2019 (in 000's)
Weighted Average Remaining Contractual Life (years)
Weighted Average Exercise Price CAD$
Number Exercisable as at December 31, 2019 (in 000's)
Weighted Average Exercise Price CAD$
$1.50-$2.35
860
1.0
2.12
860
2.12
$4.55 - $5.00
1,027
2.2
4.89
1,027
4.89
$8.05 - $12.34
1,844
2.7
8.31
1,844
8.31
3,731
2.2
5.94
3,731
5.94
A summary of changes to stock options outstanding is as follows:
Number of Options (in 000's)
Weighted Average Exercise Price, (CAD$)
Balance, stock options outstanding as at December 31, 2017
5,306
4.85
Granted
90
9.54
Exercised
(176
)
(1.59
)
Forfeited
(44
)
(7.72
)
Expired
(24
)
(6.23
)
Balance, stock options outstanding as at December 31, 2018
5,152
5.02
Exercised
(1,203
)
(2.60
)
Expired
(218
)
(6.41
)
Balance, stock options outstanding as at December 31, 2019
3,731
5.94
The weighted average share price at the time of exercise of options during the year ended December 31, 2019 was CAD$4.73 (2018 – CAD$5.52). During the year ended December 31, 2019, stock-based compensation expense related to stock options of $239 (2018 - $3,172) was charged to operations, $4 was charged to production costs (2018 – $62), and $nil was allocated to inventory (2018 – $4).
9.
EQUITY COMPENSATION (continued) Performance Share Units (“PSUs”) (in thousands) On August 21, 2018, the Company granted 699 PSUs to its officers and employees with a total estimated fair value of $4,030. On October 8, 2019, the Company granted 323 PSUs to its officers and employees with a total estimated fair value of $1,513. All PSUs vest on the third anniversary of the grant date. The fair value of the PSUs granted is being recorded as a stock-based compensation expense and charged to operating expenses over the vesting period. The PSUs are earned on the basis of Total Shareholder Return (“TSR”) relative to the return of the peer companies over four weighted performance periods:
-
20% will be earned based on TSR during year 1 of the performance period (first year following the grant date);
-
20% will be earned based on TSR during year 2 of the performance period (second year following the grant date);
-
20% will be earned based on TSR during year 3 of the performance period (third year following the grant date);
-
40% will be earned based on TSR during years 1-3 of the performance period (first, second and third years following the grant date). The number of shares issued upon vesting of PSUs depends on the performance of the Company shares compared to the peer group of companies and can vary from zero to up to two times the number of PSUs granted. The fair value of the PSUs is estimated on the date of grant using a valuation model based on Monte Carlo simulation with the following assumptions used for the grants made during the period:
October 8, 2019
August 21, 2018
Number of PSUs granted
323
699
Correlation coefficient between the peer group companies
13.1
%
13.1
%
Risk-free interest rate
1.38
%
2.7
%
Dividend rate
0
%
0
%
Annualized volatility
62.5
%
71.9
%
Peer Group average volatility
64.1
%
65.9
%
Estimated forfeiture rate
10.0
%
11.6
%
Fair value per PSU granted (CDN$)
6.25
8.50
Total fair value of PSUs granted, prior to forfeiture rate adjustment (CDN$)
2,016
5,945
As at December 31, 2019, $1,771 of the fair value of PSUs previously granted but not yet vested remains to be expensed in 2020, $1,275 in 2021 , and $352 in 2022. During the year ended December 31, 2019, stock-based compensation expense related to PSUs of $1,628 was charged to operating expenses (2018 - $481).
9.
EQUITY COMPENSATION (continued) A summary of changes to the number of outstanding PSUs is as follows:
Number of PSUs (in 000's)
Balance, PSUs outstanding as at December 31, 2017
-
Granted
699
Balance, PSUs outstanding as at December 31, 2018
699
Forfeited
(12
)
Granted
323
Balance, PSUs outstanding as at December 31, 2019
1,010
Subsequent to the year end, the Company issued 121 shares, comprised of 118 shares issued upon the cashless exercise of 147 stock options and 3 shares issued upon the conversion of an equal number of RSUs.

Related Party Transactions

Related Party Transactions12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions10.
RELATED PARTY TRANSACTIONS 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 on March 28, 2016, for the transfer to Minera Exar of title to
-
Construction services contract for Cauchari-Olaroz project with Magna Construcciones S.R.L., the Company’s 50% share of which was $1,594 during the year December 31, 2019. During the year ended December 31, 2019, the Company’s 50% share of director’s fees paid by Minera Exar to its President, who is also a director of the Company, was $37 (2018 - $38). There were no contractual or other commitments arising from the related party transactions described above in this Note 10. The amounts due to related parties arising from the above transactions are unsecured, non-interest bearing and have no specific terms of payment. In consideration for Bangchak (a related party of the Company, by virtue of its position as a shareholder and a lender under the $205,000 senior credit facility) providing its consent to the Project Investment, following the Company’s approval of the expansion of the stated production capacity of the Cauchari-Olaroz project from its current targeted production of 25,000 tonnes per annum (“tpa”) to 40,000 tpa, and entry into an amended off-take agreement with Bangchak, the Company provided incremental off-take rights in favour of Bangchak to acquire up to an additional 3,500 tpa of lithium carbonate, up to an aggregate maximum of 6,000 tpa of lithium carbonate (at a 40,000 tpa project capacity) at market prices. In addition, the consent includes a commitment from Bangchak to provide up to $50,000 of additional debt financing on substantially the same terms as the Company’s existing senior credit facility, however, with the proceeds of such financing available for a broader purpose.
10.
RELATED PARTY TRANSACTIONS (continued) Should the Company elect to pursue this additional debt financing in the future, such financing will be subject to negotiation of definitive documentation and consent of the Company’s other lender, Ganfeng, under the $205,000 senior credit facility and the Limited Recourse Loan Facility. There can be no assurances that the Company will be able to realize on such additional debt financing, including the terms and timing thereof. Transactions with Ganfeng, a related party of the Company by virtue of its position as a shareholder and a lender to the Company, are disclosed in Notes 5, 8 and 19. Compensation of Key Management Key management includes the directors of the Company and the executive management team. The remuneration of directors and members of the executive management team was as follows:
For the years ended December 31,
2019 $
2018 $
Stock-based compensation
2,731
2,410
Salaries, benefits and directors' fees included in general and administrative expenses
2,565
2,636
Salaries and benefits included in exploration expenditures
369
547
Salaries and benefits capitalized to Investment in the Joint Venture
504
812
Salaries and benefits capitalized to PP&E
204
-
6,373
6,405
As at December 31,
As at December 31,
2019 $
2018 $
Total due to directors and executive team
357
164
There were

General and Administrative Expe

General and Administrative Expenses12 Months Ended
Dec. 31, 2019
Disclosure Of General And Administrative Expenses [Abstract]
General and Administrative Expenses11.
GENERAL AND ADMINISTRATIVE EXPENSES The following table summarizes the Company’s general and administrative expenses:
For the years ended December 31,
2019
2018
$
$
Salaries, benefits and directors' fees
3,657
4,410
Office and administration
941
1,279
Professional fees
955
1,218
Regulatory and filing fees
235
826
Travel
444
615
Investor relations
227
309
Depreciation
233
93
6,692
8,750

Exploration Expenditures

Exploration Expenditures12 Months Ended
Dec. 31, 2017
Disclosure Of Exploration Expenditures [Abstract]
Exploration Expenditures12.
EXPLORATION EXPENDITURES The following table summarizes the Company’s exploration expenditures related to the Thacker Pass project:
For the years ended December 31,
2019 $
2018 $
Drilling and geological expenses
533
1,319
Permitting and environmental
227
3,239
Engineering
1,063
173
Consulting and salaries
5,574
4,255
Field supplies and other
757
552
Depreciation
371
477
Total exploration expenditures
8,525
10,015
During Q2 2019, Lithium Nevada entered into a mining design, consulting and mining operations agreement with a mining contractor on its Thacker Pass project. According to the agreement, Lithium Nevada will receive $3,500 from the mining contractor in seven consecutive equal quarterly instalments, of which $1,500 was received during the year ended December 31, 2019, and recorded in other liabilities (Note 8). Lithium Nevada will pay a success fee to the mining contractor of $4,650 payable upon achieving commercial mining milestones or will repay $3,500 without interest if a final project investment decision is not made by 2024.

Segmented Information

Segmented Information12 Months Ended
Dec. 31, 2019
Disclosure Of Operating Segments [Abstract]
Segmented Information13 .
SEGMENTED INFORMATION The Company operates in three operating segments and three geographical areas. The Thacker Pass project is in the exploration stage and the Cauchari-Olaroz project is in the development stage. Since August 16, 2019 the Cauchari-Olaroz project has been accounted for as a joint operation; it was previously accounted for as a joint venture using the equity method The Company’s reportable segments are summarized in the following tables:
Organoclay $
Thacker Pass $
Cauchari- Olaroz $
Corporate $
Total $
As at December 31, 2019
Property, plant and equipment
-
1,147
156,854
923
158,924
Assets held for sale
4,279
-
-
-
4,279
Exploration and evaluation assets
-
3,852
-
-
3,852
Total assets
5,621
5,817
248,821
33,540
293,799
Total liabilities
(1,207
)
(3,325
)
(42,431
)
(87,215
)
(134,178
)
For the year ended December 31, 2019
Property, plant and equipment additions
23
736
31,447
813
33,019
Loss from discontinued operations
(2,193
)
-
-
-
(2,193
)
Net (loss)/income
(2,193
)
(9,462
)
3,035
60,285
51,665
Exploration expenditures
-
8,525
-
-
8,525
Depreciation
326
379
195
226
1,126
Organoclay $
Thacker Pass $
Cauchari- Olaroz $
Corporate $
Total $
As at December 31, 2018
Property, plant and equipment
4,581
791
-
51
5,423
Exploration and evaluation assets
-
3,540
-
-
3,540
Total assets
7,406
5,157
35,282
56,094
103,939
Total liabilities
(1,695
)
(1,442
)
-
(18,520
)
(21,657
)
For the year ended December 31, 2018
Property, plant and equipment expenditures
178
610
-
23
811
Loss from discontinued operations
(14,445
)
-
-
-
(14,445
)
Net (loss)/income
(14,445
)
(11,182
)
347
(2,987
)
(28,267
)
Exploration expenditures
-
10,015
-
-
10,015
Depreciation
1,158
193
-
13
1,364
13.
SEGMENTED INFORMATION (continued) The Company’s non-current assets and revenues of the discontinued operation are segmented geographically as follows:
Canada $
United States $
Argentina $
Total $
Non-current assets (1)
As at December 31, 2019
923
5,000
156,853
162,776
As at December 31, 2018
51
8,912
35,282
44,245
Revenue of the discontinued operation
For the year ended December 31, 2019
-
5,348
-
5,348
For the year ended December 31, 2018
-
4,843
-
4,843
1

Supplemental Disclosure with Re

Supplemental Disclosure with Respect to Cash Flows12 Months Ended
Dec. 31, 2019
Supplemental Information With Respect To Cash Flows [Abstract]
Supplemental Disclosure with Respect to Cash Flows14 .
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS Supplementary disclosure of the Company’s non-cash transactions is provided in the table below:
As at December 31,
As at December 31,
2019 $
2018 $
Accounts payable related to property, plant and equipment
29
101
Accounts payable related to inventories
357
699
Accounts payable related to financings
78
73
Change in accounts payable related to property, plant and equipment of the Joint Operation since commencement of the Joint Operation accounting to December 31, 2019 was an increase of $2,457.
For the years ended December 31,
2019 $
2018 $
RSUs and DSUs granted to settle accrued liabilities
2,110
1,268
Assets acquired under lease agreements
1,197
43
Interest paid
3,194
50
Income taxes paid
-
-

Income Taxes

Income Taxes12 Months Ended
Dec. 31, 2019
Major Components Of Tax Expense Income [Abstract]
Income Taxes15 .
INCOME TAXES Income tax recognized in profit or loss is comprised of the following:
December 31, 2019 $
December 31, 2018 $
Withholding taxes accrued (i)
1,445
-
Current income tax
-
-
Tax expense (recovery)
1,445
-
i) Estimated accrued foreign withholding taxes of $1,445 at December 31, 2019 (2018 - $0) are payable when interest from intercompany loans between the Company and its Joint Operation is received. A reconciliation of income taxes at Canadian statutory rates with reported taxes is as follows:
For the years ended December 31
2019 $
2018 $
Income/(Loss) for the year before tax
53,110
(28,267
)
Statutory tax rate
27
%
27
%
Expected income tax expense/(recovery) at statutory tax rate
14,340
(7,632
)
Items not taxable for income tax purposes
(369
)
(1,316
)
Gain on dilution of interest in Joint Venture
(20,113
)
-
Effect of lower tax rate in foreign jurisdiction
1,034
2,021
Withholding tax expense
1,445
Change in unrecognized deferred tax assets and other
5,108
6,927
Tax expense
1,445
-
15.
INCOME TAXES (Continued) The significant components of the Company's deferred tax assets and liabilities are as follows:
December 31, 2019 $
December 31, 2018 $
Deferred tax assets:
Tax loss carryforwards
29,308
18,956
Exploration and evaluation assets
170
472
Financing costs
112
436
Capital assets
1,707
2,203
Other
3,190
131
Deferred tax assets
34,487
22,198
Deferred tax liabilities:
Capital assets
(3,749
)
-
Other
(270
)
-
Deferred tax liabilities
(4,019
)
-
Unrecognized deferred tax assets
30,468
22,198
The Company has Canadian non-capital loss carryforwards of CDN$ ,000 44,100 $64,000 48,500 respectively.

Financial Instruments

Financial Instruments12 Months Ended
Dec. 31, 2019
Disclosure Of Financial Instruments [Abstract]
Financial Instruments16 .
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 December 31, 2019, 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 Operation. The Company’s maximum exposure to credit risk for cash, cash equivalents 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. The Company and its subsidiaries, including its joint operation, Minera Exar, may from time to time make short-term investments into Argentinian government securities, financial instruments guaranteed by Argentinian banks and other Argentine securities. These investments may or may not realize short term gains or losses. Included in the receivables, prepaids and deposits are credit sales receivables of $549. Management believes that the credit risk concentration with respect to financial instruments included in cash, cash equivalents, receivables and loans to the Joint Operation is minimal.
16 .
FINANCIAL INSTRUMENTS (continued) 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 December 31, 2019, the Company had a cash and cash equivalents balance of $83,614 (December 31, 2018 - $41,604) to settle current liabilities of $14,990 (December 31, 2018 - $3,361). Cash and cash equivalents balance as at includes the Company’s 50% share ($52,495) of the Joint Operation’s cash and cash equivalents of $104,989. The following table summarizes the maturities of the Company’s financial liabilities on an undiscounted basis:
Years ending December 31,
2020
2021
2022 and later
Total
$
$
$
$
Credit facility¹
6,707
6,693
110,038
123,438
Joint Operation borrowings¹
-
-
59,761
59,761
Accounts payable and accrued liabilities
11,879
-
-
11,879
Obligations under office leases¹
298
172
540
1,010
Other obligations¹
229
228
8,219
8,676
Total
19,113
7,093
178,558
204,764
¹ Credit facility, Joint Operation borrowings, Obligations under office leases and Other obligations include principal and interest/finance charges. Market Risk Market risk incorporates a range of risks. Movement in risk factors, such as market price risk and currency risk, affect the fair values of financial assets and liabilities. Foreign Currency Risk The Company’s operations in foreign countries are subject to currency fluctuations and such fluctuations may affect the Company’s financial results. The Company reports its financial results in United States dollars (“US$”) and incurs expenditures in Canadian dollars (“CDN$”) and US$ with the majority of the expenditures being incurred in US$ by the Company’s subsidiaries. As at December 31, 2019, $30,616 of the Company’s cash and cash equivalents held by the Company (which has a CDN$ functional currency) were denominated in US$. The Company had drawn $83,750 under its US$ denominated credit facility and recognized $28,845 Joint Operation borrowings as at December 31, 2019. Strengthening/(weakening) of a US$ exchange rate versus CDN$ by 10% at December 31, 2019 would have resulted in a foreign exchange (loss)/gain for the Company of $5,313, respectively.

Capital Disclosure

Capital Disclosure12 Months Ended
Dec. 31, 2019
Disclosure Of Capital Disclosures [Abstract]
Capital Disclosure1 7 .
CAPITAL DISCLOSURE The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to pursue the exploration and development of its mineral properties and to maintain a flexible capital structure. The capital structure of the Company consists of long-term borrowings, project debt facilities and equity attributable to common shareholders, comprising issued capital, contributed surplus, and deficit. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. In order to carry out the planned exploration and development of its projects and pay for administrative costs, the Company will spend its existing working capital, draw on its project debt facilities and the Limited Recourse Loan Facility . We have no significant financial covenants or capital requirements with our lenders or other parties. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. There were no changes in the Company’s approach to capital management during the year ended December 31, 2019.

Assets Held for Sale and Discon

Assets Held for Sale and Discontinued Operation12 Months Ended
Dec. 31, 2019
Assets Held For Sale And Discontinued Operation [Abstract]
Assets Held for Sale and Discontinued Operation18.
ASSETS HELD FOR SALE AND DISCONTINUED OPERATION In Q4 2019, the Company’s Board made a strategic decision to wind-up the organoclay business in an orderly fashion, including divesting of its assets. The organoclay business is non-core to the Company’s portfolio of lithium projects. Organoclay property, plant and equipment is classified as assets held for sale as at December 31, 2019 and is recognized at the lower of its carrying value and fair value less cost to sell. The results from operations for the organoclay business have, together with restated comparatives, been presented as discontinued operations within the Consolidated Statements of Comprehensive Income/(Loss) and the Consolidated Statements of Cash Flows.
Years Ended December 31,
2019
2018
$
$
ORGANOCLAY SALES
5,348
4,843
COST OF SALES
-
Production costs
(5,867
)
(5,681
)
Depreciation
(427
)
(1,119
)
Total cost of sales
(6,294
)
(6,800
)
GROSS LOSS
(946
)
(1,957
)
EXPENSES
Organoclay research and development
(281
)
(578
)
Impairment of Organoclay property, plant and equipment and write off of other assets
(393
)
(11,580
)
General, administrative and other
(573
)
(330
)
(1,247
)
(12,488
)
NET LOSS FROM DISCONTINUED OPERATIONS
(2,193
)
(14,445
)
Loss per share - basic
(0.02
)
(0.16
)
Loss per share - diluted
(0.02
)
(0.16
)
Net cash outflow from discontinued operations
(673
)
(1,251
) Cash outflow from discontinued operations is included in cash flow from operating activities in the statements of cash flows. Discontinued operations have not generated or used cash in investing or financing activities.

Subsequent Events

Subsequent Events12 Months Ended
Dec. 31, 2019
Disclosure Of Nonadjusting Events After Reporting Period [Abstract]
Subsequent Events19 .
SUBSEQUENT EVENTS Subsequent to the year end, the Company received $12,000 drawdown from its $205,000 senior credit facility, $20,000 drawdown from its $100,000 Limited Recourse Loan Facility to fund the development expenditures on the Cauchari-Olaroz project and an additional $2,200 drawdown from its Limited Recourse Loan Facility to fund payment of interest under the $205,000 senior credit facility. On February 7, 2020, the Company entered into definitive agreements (the “ 2020 Cauchari Transaction In addition, the Company and Ganfeng have agreed to restructure Exar Capital BV to reflect the proportionate ownership of Minera Exar. As part of this restructuring, Ganfeng Lithium has agreed to provide $40,000 to Exar Capital BV in non-interest-bearing loans, repayable in 2029 (subject to an additional one-year extension). Proceeds of the loans will be used to repay intercompany loans owing to Lithium Americas, with $20,000 to be paid on closing of the 2020 Cauchari Transaction and an additional $20,000 payable on August 1, 2020 (or such earlier date as the parties may agree). Upon completion of the 2020 Cauchari Transaction, Ganfeng will become the controlling shareholder of Minera Exar while Lithium Americas will receive fulsome minority shareholder protective rights. The shareholder agreement and related agreements will be amended on the closing of the 2020 Cauchari Transaction to preserve joint approval for various substantive matters involving Minera Exar. Closing of the 2020 Cauchari Transaction is subject to receipt of all required regulatory approvals, consent of Lithium Americas’ senior lenders, settlement of an amended and restated shareholder agreement and other definitive agreements, and other customary closing conditions.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)12 Months Ended
Dec. 31, 2019
Disclosure Of Significant Accounting Policies [Abstract]
Critical Accounting Estimates and JudgmentsCritical Accounting Estimates and Judgments Significant areas where judgment is applied, apart from those involving estimations, are: Joint Arrangements If a company is a party to an arrangement over which it does not have sole control, judgment is required in determining whether joint control over this arrangement exists and, if so, which parties have joint control and whether an arrangement is a joint venture or joint operation. In assessing whether joint control exists, the Company analyzes the activities of each arrangement and determines which activities most significantly affect the returns of the arrangement over its life. These activities are determined to be the relevant activities of the arrangement. If unanimous consent is required over the decisions about the relevant activities, the parties whose consent is required would have joint control over the arrangement. The judgments around which activities are considered the relevant activities of the arrangement are subject to analysis by each of the parties to the arrangement and may be interpreted differently. When performing this assessment, the Company generally considers decisions about activities such as managing the asset while it is being designed, developed and constructed, during its operating life and during the closure period. The Company may also consider other activities including the approval of budgets, expansion and disposition of assets, financing, significant operating and capital expenditures, appointment of key management personnel, representation on the board of directors and other items. When circumstances or contractual terms change, the Company reassesses the control group and the relevant activities of the arrangement. If a company has joint control over the arrangement, an assessment of whether the arrangement is a joint venture or joint operation is required. This assessment is based on whether a company has rights to the assets and obligations for the liabilities relating to the arrangement or whether a company has rights to the net assets of the arrangement. In making this determination, the Company reviews the legal form of the arrangement, the terms of the contractual arrangement and other facts and circumstances. In a situation where the legal form and the terms of the contractual arrangement do not give the Company rights to the assets and obligations for the liabilities, an assessment of other facts and circumstances is required, including whether the activities of the arrangement are primarily designed for the provision of output to the parties and whether the parties are substantially the only source of cash flows contributing to the arrangement. The consideration of other facts and circumstances may result in the conclusion that a joint arrangement is a joint operation. This conclusion requires judgment and is specific to each arrangement. On closing of the Project Investment (as defined in Note 5) Lithium Americas and Ganfeng implemented certain amendments to the Shareholders Agreement governing the Cauchari-Olaroz joint arrangement, including the provision of equal representation on the Minera Exar board of directors and the Management Committee governing the project and an obligation to purchase all of the output of Minera Exar at market price. Facts and circumstances have led the Company to conclude that upon closing of the Project Investment, Minera Exar and Exar Capital B.V. are a joint operation for the purposes of the Company’s consolidated financial statements. The other facts and circumstances considered include the provision of output to the parties of the joint arrangement, agreement by the Company and Ganfeng to fund the construction of the project, jointly control the project’s budget, be the sole source of funding for Minera Exar, and distribute the project’s free cash flow (as defined in the Shareholders’ Agreement) upon commencement of commercial production. For Minera Exar, the Company and Ganfeng will take their share of the output from the assets directly over the life of the arrangement. Exar Capital B.V. is subject to the same constraints and controls as Minera Exar.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Prior to closing of the Project Investment, Minera Exar and Exar Capital B.V. were accounted for as a Joint Venture under the equity method. The accounting treatment for these entities may be reassessed in 2020 in case the most recent transaction with Ganfeng Impairment of exploration and evaluation assets The application of the Company’s accounting policy for impairment of exploration and evaluation assets requires judgment to determine whether indicators of impairment exist including information such as, the period for which the Company has the right to explore including expected renewals, whether substantive expenditures on further exploration and evaluation of resource properties are budgeted and evaluation of the results of exploration and evaluation activities up to the reporting date. Management has performed an impairment indicator assessment on the Company’s exploration and evaluation assets and has concluded that no impairment indicators exist as of December 31, 2019. Impairment of the Company’s share of the Joint Operation’s property, plant and equipment The application of the Company’s accounting policy for the impairment assessment of its share of the Joint Operation’s property, plant and equipment requires judgment to determine whether indicators of impairment exist. A review of impairment indicators is performed at the Joint Operation’s level and includes consideration of both external and internal sources of information, including factors such as market and economic conditions, taxation, prices and forecasts, capital expenditure requirements, future operating costs and production volumes. Management has performed an assessment and concluded that no impairment indicators exist as of December 31, 2019. Functional currency Items included in the financial statements of each of the Company’s subsidiaries and the Joint Operation 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 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.
Principles of ConsolidationPrinciples of Consolidation These consolidated financial statements include the accounts of Lithium Americas Corp. and its wholly-owned USA subsidiaries Lithium Nevada Corp., KV Project LLC, and RheoMinerals Inc., and Canadian wholly-owned subsidiary 2265866 Ontario Inc. All inter-company transactions and balances have been eliminated. Subsidiaries are all entities over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances and unrealized gains on transactions between group companies are eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.
Joint ArrangementsJoint Arrangements A joint arrangement is defined as one over which two or more parties have joint control, which is the contractually agreed sharing of control over an arrangement. This exists only when the decisions about the relevant activities (being those that significantly affect the returns of the arrangement) require the unanimous consent of the parties sharing control. There are two types of joint arrangements: joint operations and joint ventures. A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and are the only source of funding the liabilities relating to the arrangement. In relation to the Company’s interest in the joint operation, the Company recognizes its share of any assets, liabilities, revenues and expenses of the joint operation. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Investments in joint ventures are accounted for using the equity method. On acquisition, an equity method investment is initially recognized at cost. The carrying amount of equity method investments includes goodwill identified on acquisition, net of any accumulated impairment losses. The carrying amount is adjusted by the Company’s share of post-acquisition net income or loss; depreciation, amortization or impairment of the fair value adjustments made on the underlying balance sheet at the date of acquisition; dividends; cash contributions; and the Company’s share of post-acquisition movements in Other Comprehensive Income (“OCI”).
Foreign Currency TranslationForeign Currency Translation Functional and Presentation Currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in US dollars. The functional currency of all subsidiaries in the Company’s group is the US dollar, while the functional currency of Lithium Americas Corp. is the Canadian dollar. The functional currency of Minera Exar S.A., the Company’s Joint Venture, is the US dollar. Transactions and Balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in profit or loss. They are deferred in equity if they are attributable to part of the net investment in a foreign operation. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equities classified as available-for-sale financial assets are recognized in other comprehensive income.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Parent and Subsidiary Companies The results and financial position of foreign operations that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

assets and liabilities for each reporting date are translated at the closing rate at that reporting date;

income and expenses are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and

all resulting exchange differences are recognized in other comprehensive loss. The Company recognizes its share of the exchange differences of its joint ventures which result from translation of the results and financial position of its foreign joint ventures from the functional currency to the presentation currency. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely in the foreseeable future, foreign exchange gains and losses arising from the item are considered to form part of the net investment in a foreign operation and are recognized in other comprehensive income. When an entity disposes of its entire interest in a foreign operation, or loses control, joint control, or significant influence over a foreign operation, the foreign currency gains or losses accumulated in other comprehensive income related to the foreign operation are recognized in profit or loss. If an entity disposes of part of an ownership interest in a foreign operation which remains a subsidiary or a joint venture, a proportionate amount of foreign currency gains or losses accumulated in other comprehensive income related to the subsidiary is reallocated between controlling and non-controlling interests. Ownership interest is treated solely as a percentage ownership in a subsidiary or a joint venture.
Cash and Cash EquivalentsCash and Cash Equivalents Cash and cash equivalents consist of cash held with banks and highly liquid short-term investments which can be withdrawn at any time
Exploration and Evaluation AssetsExploration and Evaluation Assets Exploration expenditures not including the acquisition costs and claim maintenance costs are expensed until the establishment of technical feasibility and commercial viability based on a combination of the following factors:

The extent to which mineral reserves or mineral resources as defined in National Instrument 43-101 (“NI 43-101”) have been identified through a feasibility study or similar document;

The status of environmental permits; and

The status of mining leases or permits.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Costs incurred relating to the acquisition and claim maintenance of mineral properties, including option payments and annual fees to maintain the property in good standing, are capitalized and deferred by property until the project to which they relate is sold, abandoned, impaired or placed into production. After recognition, the Company uses the cost model for exploration and evaluation assets. The Company assesses its exploration and evaluation assets for indications of impairment on each balance sheet date and when events and circumstances indicate a risk of impairment. A property is written down or written off when the Company determines that an impairment of value has occurred or when exploration results indicate that no further work is warranted. Exploration and evaluation assets are tested for impairment immediately prior to reclassification to mineral property development costs. Although the Company has taken steps to verify title to mineral properties in which it has an interest, these procedures do not guarantee the Company’s title. Such properties may be subject to prior agreements or transfers, or title may be affected by undetected defects.
Property, Plant and EquipmentProperty, Plant and Equipment On initial recognition, property, plant and equipment are valued at cost. Cost includes the purchase price and directly attributable cost of acquisition or construction required to bring the asset to the location and condition necessary to be capable of operating in the manner intended by the Company, including appropriate borrowing costs and foreign exchange losses or gains on borrowings and related cash used to construct qualifying assets as defined under IFRS. During the development and commissioning phase, pre-production expenditures, net of incidental proceeds from sales during this period, Capitalization of costs incurred ceases when commercial production commences in the manner intended by management. The Company applies judgment in its assessment of when the asset is capable of operating in the manner intended by management. Property, plant and equipment are subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses, with the exception of land which is not depreciated. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items or major components. Property, plant and equipment that are currently in use are depreciated as follows:

Process testing facility equipment included in “Equipment and machinery” – straight-line basis over the estimated useful life of 10 years;

Office equipment included in “Other” – declining balance method at 20% annual rate ; and

Other equipment included in “Other” – straight-line basis over the estimated useful life of 7-15 years. The assets’
Impairment of Property, Plant and EquipmentImpairment of Property, Plant and Equipment Property, plant and equipment are assessed for impairment indicators at each reporting date or when an impairment indicator arises if not at a reporting date. Impairment indicators are evaluated and, if considered necessary, an impairment assessment is carried out. If an impairment loss is identified, it is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less cost of disposal and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). These are typically individual mines, plants or development projects. Where the factors which resulted in an impairment loss subsequently reverse, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but to an amount that does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss.
Non-current assets (or disposal groups) held for sale and discontinued operationsNon-current assets (or disposal groups) held for sale and discontinued operations Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits, financial assets and investment property that are carried at fair value and contractual rights under insurance contracts , which are specifically exempt from this requirement. An impairment loss is recognised for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of an asset (or disposal group), but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale of the non-current asset (or disposal group) is recognised at the date of derecognition. Non-current assets (including those that are part of a disposal group) are not depreciated or amortised while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognised. Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) A discontinued operation is a component of the entity that has been disposed of or is classified as held for sale and that represents a separate major line of business or geographical area of operations, is part of a single co-ordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the statement of profit or loss.
LeasesLeases At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether the Company has the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement and if the Company has the right to direct the use of the asset. At inception or on reassessment of a contract that contains one or more lease components, the Company allocates the consideration in the contract to each lease component on the basis of their relative standalone prices. The Company leases offices, buildings, equipment and cars. Lease contracts are typically made for fixed periods of 3 to 5 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Until the year ended December 31, 2018, leases of property, plant and equipment were classified as either finance or operating leases. Payments made under operating leases (net of any incentives received from the lessor) were charged to profit or loss on a straight-line basis over the period of the lease. From January 1, 2019, leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Company. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

fixed payments (including in-substance fixed payments), less any lease incentives receivable;

variable lease payment that are based on an index or a rate;

amounts expected to be payable by the lessee under residual value guarantees;

the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and

payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Right-of-use assets are measured at cost comprising the following:

the amount of the initial measurement of lease liability;

any lease payments made on or before the commencement date less any lease incentives received;

any initial direct costs; and

restoration costs. Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less.
InventoriesInventories Organoclay products, in-process and stockpile inventories are recorded at the lower of average cost and net realizable value. The cost of finished goods and work-in-progress is determined by the weighted average cost method and comprises raw materials, direct labour, and other direct costs, as well as related production overheads including applicable depreciation on property, plant and equipment. Net realizable value is the estimated selling price less applicable selling expenses. When inventories have been written down to net realizable value, a new assessment of net realizable value is made in each subsequent period. When the circumstances that caused the write down no longer exist, the amount of the write down is reversed. Materials and supplies inventories are valued at the lower of average cost and net realizable value. Cost includes acquisition, freight and other directly attributable costs.
Financial InstrumentsFinancial Instruments Financial assets and liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. On initial recognition, financial assets and liabilities are classified as and measured at: amortized cost, fair value through profit or loss (“FVTPL”) or fair value through other comprehensive income (“OCI”) according to their contractual cash flow characteristics and the business models under which they are held. Financial assets are measured at amortized cost if they are held for the collection of contractual cash flows where those cash flows solely represent payments of principal and interest. The Company’s intent is to hold these financial assets in order to collect contractual cash flows and the contractual terms give rise to cash flows on specified dates that are solely payments of principal and interest on the principal amount outstanding. All of the Company’s financial assets fall under this category. Financial liabilities are measured at amortized cost unless they are required to be measured at FVTPL. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred and the Company has transferred substantially all risks and rewards of ownership.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Impairment of financial assets. The Company assesses on a forward-looking basis the expected credit losses associated with its financial assets carried at amortized cost and fair value through OCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Company applies the simplified approach permitted by IFRS 9, Financial Instruments (“IFRS 9”), which requires expected lifetime losses to be recognised from initial recognition of the receivables.
Borrowing CostsBorrowing Costs Borrowing costs directly attributable to the acquisition, construction or production of assets requiring a substantial period of time to get ready for their intended use or sale are capitalized as part of the cost of that asset. Capitalization of borrowing costs begins when there are borrowings and activities commence to prepare an asset for its intended use. Capitalization of borrowing costs ends when substantially all activities necessary to prepare a qualifying asset for its intended use are complete. When proceeds of project specific borrowings are invested on a temporary basis, borrowing costs are capitalized net of any investment income.
ProvisionsProvisions Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost. Close down and restoration costs include dismantling and demolition of infrastructure and the removal of residual materials and remediation of disturbed areas. Estimated close down and restoration costs are provided for in the accounting period when the obligation arising from the related disturbance occurs, based on the net present value of estimated future costs. The cost estimates are updated during the life of the operation to reflect known development, such as revisions to cost estimates and to the estimated lives of the operations, and are subject to formal reviews at regular intervals. The initial closure provision together with changes resulting from changes in estimated cash flows or discount rates are capitalized within capital assets. These costs are then depreciated over the lives of the asset to which they relate, typically using the units of production method. The amortization or unwinding of the discount applied in establishing the net present value of provisions is charged to the statement of comprehensive (loss)/income as a financing cost. Provision is made for the estimated present value of the costs of environmental cleanup obligations outstanding at the statement of financial position date.
Income TaxesIncome Taxes Income tax expense comprises current and deferred tax. Income tax is recognized in profit or loss except to the extent that it relates to items recognized directly in equity. Current tax expense is the expected tax payable on taxable income for the year, using tax rates enacted or substantively enacted at period-end, adjusted for amendments to tax payable with regards to previous years.
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Deferred tax is recorded using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Temporary differences are not provided for the initial recognition of assets or liabilities that affect neither accounting or taxable loss, nor differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the statement of financial position date. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. To the extent that the Company does not consider it probable that a deferred tax asset will be recovered, the deferred tax asset is not recorded.
Share CapitalShare Capital Common shares are classified as equity. Incremental costs directly attributable to the issuance of shares are recognized as a deduction from equity.
RevenueRevenue The Company recognizes revenue from the sales of products when a customer obtains control of the product and the Company has satisfied its performance obligation. These criteria are generally met at the time the product is shipped or delivered to the customer and, depending on the delivery conditions, title and risk have passed to the customer and acceptance of the product, when contractually required, has been obtained. Revenue is measured based on the price specified in the sales contract, net of discounts, at the time of sale.
Earnings/(Loss) per ShareEarnings/(Loss) per Share Basic earnings/(loss) per share is computed by dividing the net earnings or loss attributable to shareholders of the Company by the weighted average number of common shares outstanding during the reporting period. The diluted earnings/loss per share calculation is based on the weighted average number of common shares outstanding during the period, plus the effects of dilutive common share equivalents. This method requires that the dilutive effect of outstanding options and warrants issued should be calculated using the treasury stock method. This method assumes that all common share equivalents have been exercised at the beginning of the period (or at the time of issuance, if later), and that the funds obtained thereby were used to purchase common shares of the Company at the average trading price of the common shares during the period, but only if dilutive.
Stock-Based CompensationStock-Based Compensation From time to time the Company grants stock options to buy common shares of the Company to directors, officers, employees and service providers. The fair value of stock options granted by the Company is treated as compensation costs in accordance with IFRS 2, Share-based Payment
3.
SIGNIFICANT ACCOUNTING POLICIES (continued) Each tranche in an award is considered a separate award with its own vesting period and grant date fair value. Fair value of each tranche is measured at the date of grant using the Black-Scholes option pricing model. Compensation expense is recognized over the tranche’s vesting period based on the number of awards expected to vest, by increasing contributed surplus. The number of awards expected to vest is reviewed at least annually with any impact being recognized immediately. Where equity instruments are granted to non-employees, they are recorded at the fair value of the goods or services received in the statement of comprehensive (loss)/income, unless they are related to the issuance of shares. Amounts related to the issuance of shares are recorded as a reduction of share capital. When the value of goods or services received in exchange for the share-based payment cannot be reliably estimated, the fair value is measured by use of a valuation model. The Company’s equity incentive plan also allows the grant of restricted share units, performance share units -settled payment arrangements is recorded based on the estimated fair value at the grant date and charged to earnings over the vesting period.
Newly Adopted Accounting Standards and AmendmentsNewly adopted accounting standards and amendments Leases The Company adopted IFRS 16, Leases, as at January 1, 2019 in accordance with the transitional provisions outlined in the standard, using a cumulative catch-up approach where the leases were recorded from that date forward and comparative information was not restated. The reclassifications and the adjustments arising from the new leasing rules are therefore recognized in the opening balance sheet on January 1, 2019. The Company recorded right-of-use assets of $296 within property, plant and equipment, measured at either an amount equal to the lease liability or their carrying amount as if IFRS 16 had been applied since the commencement date, discounted using the Company’s incremental borrowing rate on January 1, 2019. As a result, the Company recorded lease liabilities of $296 as at January 1, 2019. As part of the initial application of IFRS 16 the Company elected to apply the following practical expedients:

the previous determination of whether a contract is, or contains, a lease pursuant to IAS 17 and IFRIC 4 has been maintained for existing contracts;

not recognize a right-of-use asset or lease liability for leases where the lease term ends within 12 months of the date of initial application;

rely on the Company’s assessment of whether leases are onerous contracts as an alternative to an impairment review;

exclude initial direct costs from the right-of-use asset; and

use hindsight when assessing the lease term. The weighted average incremental borrowing rate for lease liabilities initially recognized as of January 1, 2019 was 5% per annum. Accounting policy for leases, disclosed earlier in this section, has been applied as of January 1, 2019 on adoption of IFRS 16.

Cash and Cash Equivalents - (Ta

Cash and Cash Equivalents - (Tables)12 Months Ended
Dec. 31, 2019
Cash And Cash Equivalents [Abstract]
Summary of Cash and Cash EquivalentsAs at December 31,
As at December 31,
2019 $
2018 $
Cash
53,894
2,905
Short-term bank deposits
29,720
38,699
83,614
41,604

Joint Operation (Tables)

Joint Operation (Tables)12 Months Ended
Dec. 31, 2019
Disclosure Of Joint Operations [Abstract]
Disclosure of Gain on Dilution of Interest in Joint VentureUpon closing of the Project Investment the Company recognized a $74,492 gain on dilution of its interest in the Joint Venture which was calculated as follows:
$
Company’s 50% share of the $160,000 increase in Minera Exar's share capital
80,000
Carrying value of the Company's diluted share in Investment in Joint Venture
(5,508
)
Gain on dilution of interest in Joint Venture
74,492
Disclosure of Change in Investments in Joint OperationMinera S.A.
Exar Capital B.V.
Total
$
$
$
Investment in Joint Venture, as at December 31, 2017
19,637
-
19,637
Share of (loss)/income of Joint Venture
(1,077
)
730
(347
)
Contribution to Joint Venture
11,403
7,390
18,793
Return of the investment
(8,004
)
-
(8,004
)
Increase in Company's share
6,104
-
6,104
Elimination of unrealized gain on intercompany transactions
(833
)
(68
)
(901
)
Investment in Joint Venture, as at December 31, 2018
27,230
8,052
35,282
Share of (loss)/income of Joint Venture
(414
)
4,062
3,648
Contribution to Joint Venture
1,059
37,423
38,482
Elimination of unrealized gain on intercompany transactions
(334
)
(1,576
)
(1,910
)
Share of increase in Minera Exar net assets as a result of the Project Investment, less diluted interest
74,492
-
74,492
Transition to Joint Operation accounting
(102,033
)
(47,961
)
(149,994
)
Investment in Joint Venture, as at December 31, 2019
-
-
-
Summary of Loans to Joint OperationThe Company has entered into the following loan agreements with Minera Exar and Exar Capital B.V., the terms of which are summarized below:
$
Loans to Joint Venture, as at December 31, 2017
11,479
Loans granted to Minera Exar in 2018, maturity 7 years, interest rate LIBOR+7.57%
16,500
Repayment of principal and accrued interest
(18,740
)
Accrued interest
1,697
Loans granted to Exar Capital B.V., maturity 7 years, interest rate LIBOR+9.89%
7,500
The difference between the face value and the fair value of loans to Exar Capital B.V.
(5,827
)
Loans to Joint Venture, as at December 31, 2018
12,609
Accrued interest
3,791
Loans granted to Exar Capital B.V., maturity 7 years, interest rate LIBOR+9.89%
66,250
The difference between the face value and the fair value of loans to Exar Capital B.V.
(37,423
)
Repayment of loan to Minera Exar and accumulated interest thereon
(8,778
)
Share of loans of the Joint Operation
23,241
Elimination of loans as a result of Joint Operation accounting
(21,731
)
Loans to Joint Operation, as at December 31, 2019
37,959

Property Plant and Equipment (T

Property Plant and Equipment (Tables)12 Months Ended
Dec. 31, 2019
Disclosure Of Property Plant And Equipment [Abstract]
Summary of Property Plant and EquipmentCauchari-Olaroz Project 1
Land
Buildings
Equipment and machinery
Organoclay plant
Other 2
Total
$
$
$
$
$
$
$
Cost
As at December 31, 2017
-
386
2,143
5,562
11,495
636
20,222
Additions
-
-
-
624
-
187
811
Disposals
-
-
-
(1,120
)
(24
)
-
(1,144
)
As at December 31, 2018
-
386
2,143
5,066
11,471
823
19,889
Adjustment on adoption of IFRS 16 (Note 3)
-
-
-
-
-
296
296
Restated balance at January 1, 2019
-
386
2,143
5,066
11,471
1,119
20,185
50% of Minera Exar fixed assets
124,752
-
-
-
-
-
124,752
Additions
31,447
-
-
526
-
1,046
33,019
Capitalization of interest
2,110
-
-
-
-
-
2,110
Disposal of fixed assets
-
-
-
-
-
(60
)
(60
)
Reclassification to assets held for sale (Note 18)
-
(386
)
(2,143
)
(4,641
)
(11,471
)
(216
)
(18,857
)
As at December 31, 2019
158,309
-
-
951
-
1,889
161,149
Cauchari-Olaroz Project 1
Land
Buildings
Equipment and machinery
Organoclay plant
Other 2
Total
$
$
$
$
$
$
$
Accumulated depreciation
As at December 31, 2017
-
-
183
783
1,006
180
2,152
Depreciation for the year
-
-
107
406
576
121
1,210
Disposals
-
-
-
(476
)
-
-
(476
)
Impairment
-
-
545
1,146
9,889
-
11,580
As at December 31, 2018
-
-
835
1,859
11,471
301
14,466
50% of Minera Exar accumulated depreciation
1,260
-
-
-
-
-
1,260
Depreciation for the year
195
-
75
425
-
431
1,126
Disposals of fixed assets
-
-
-
-
-
(50
)
(50
)
Reclassification to assets held for sale (Note 18)
-
-
(910
)
(2,087
)
(11,471
)
(109
)
(14,577
)
As at December 31, 2019
1,455
-
-
197
-
573
2,225
Cauchari-Olaroz Project 1
Land
Buildings
Equipment and machinery
Organoclay plant
Other 2
Total
$
$
$
$
$
$
$
Net book value
As at December 31, 2018
-
386
1,308
3,207
-
522
5,423
As at December 31, 2019
156,854
-
-
754
-
1,316
158,924
1 Cauchari-Olaroz Project includes the Company’s 50% share of the Cauchari-Olaroz project construction costs and project-related costs incurred directly by the Company 2 Other category includes right of use assets with $1,140 cost and $259 accumulated depreciation as at December 31, 2019.

Exploration and Evaluation As_2

Exploration and Evaluation Assets (Tables)12 Months Ended
Dec. 31, 2019
Exploration And Evaluation Assets [Abstract]
Schedule of Exploration and Evaluation Assets Relating to Thacker Pass ProjectExploration and evaluation assets relating to the Thacker Pass project were as follows:
December 31, 2019
December 31, 2018
$
$
Acquisition costs
Balance, beginning
3,540
2,104
Additions
560
1,436
Write offs
(248
)
-
Total exploration and evaluation assets
3,852
3,540

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)12 Months Ended
Dec. 31, 2019
Borrowings [Abstract]
Schedule of Long-Term BorrowingsAs at December 31,
As at December 31,
2019 $
2018 $
Current portion of long-term borrowings
Accrued interest
2,662
338
Other liabilities
449
201
3,111
539
Long-term borrowings
Credit facility (net of financing costs)
83,043
17,356
Share of Joint Operation borrowings
28,845
-
Other liabilities
5,222
671
117,110
18,027
120,221
18,566

Equity Compensation (Tables)

Equity Compensation (Tables)12 Months Ended
Dec. 31, 2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]
Summary of Changes to Number of Restricted SharesA summary of changes to the number of outstanding RSUs is as follows:
Number of RSUs (in 000's)
Balance, RSUs outstanding as at December 31, 2017
1,550
Converted into common shares
(123
)
Granted
246
Forfeited
(5
)
Balance, RSUs outstanding as at December 31, 2018
1,668
Converted into common shares
(206
)
Granted
955
Forfeited
(20
)
Cancelled
(9
)
Balance, RSUs outstanding as at December 31, 2019
2,388
Summary of Changes to Number of Deferred Share UnitsDuring the year ended December 31, 2019 the Company granted 135 DSUs (2018 – 87) with the total estimated fair value of $611 (2018 – $497) to the Company’s independent directors in lieu of cash payments of directors’ fees.
Number of DSUs (in 000's)
Balance, DSUs outstanding as at December 31, 2017
41
Granted
87
Balance, DSUs outstanding as at December 31, 2018
128
Granted
135
Converted into common shares
(35
)
Balance, DSUs outstanding as at December 31, 2019
228
Summary of Stock Options Outstanding and ExercisableStock options outstanding and exercisable as at December 31, 2019 are as follows:
Range of Exercise Prices CAD$
Number Outstanding as at December 31, 2019 (in 000's)
Weighted Average Remaining Contractual Life (years)
Weighted Average Exercise Price CAD$
Number Exercisable as at December 31, 2019 (in 000's)
Weighted Average Exercise Price CAD$
$1.50-$2.35
860
1.0
2.12
860
2.12
$4.55 - $5.00
1,027
2.2
4.89
1,027
4.89
$8.05 - $12.34
1,844
2.7
8.31
1,844
8.31
3,731
2.2
5.94
3,731
5.94
Summary of Changes to Stock Options OutstandingA summary of changes to stock options outstanding is as follows:
Number of Options (in 000's)
Weighted Average Exercise Price, (CAD$)
Balance, stock options outstanding as at December 31, 2017
5,306
4.85
Granted
90
9.54
Exercised
(176
)
(1.59
)
Forfeited
(44
)
(7.72
)
Expired
(24
)
(6.23
)
Balance, stock options outstanding as at December 31, 2018
5,152
5.02
Exercised
(1,203
)
(2.60
)
Expired
(218
)
(6.41
)
Balance, stock options outstanding as at December 31, 2019
3,731
5.94
Summary of Fair Value of Performance Awards Granted by Using Monte Carlo Simulation ModelOctober 8, 2019
August 21, 2018
Number of PSUs granted
323
699
Correlation coefficient between the peer group companies
13.1
%
13.1
%
Risk-free interest rate
1.38
%
2.7
%
Dividend rate
0
%
0
%
Annualized volatility
62.5
%
71.9
%
Peer Group average volatility
64.1
%
65.9
%
Estimated forfeiture rate
10.0
%
11.6
%
Fair value per PSU granted (CDN$)
6.25
8.50
Total fair value of PSUs granted, prior to forfeiture rate adjustment (CDN$)
2,016
5,945
Summary of Changes to Number of RS-PsA summary of changes to the number of outstanding PSUs is as follows:
Number of PSUs (in 000's)
Balance, PSUs outstanding as at December 31, 2017
-
Granted
699
Balance, PSUs outstanding as at December 31, 2018
699
Forfeited
(12
)
Granted
323
Balance, PSUs outstanding as at December 31, 2019
1,010

Related Party Transactions (Tab

Related Party Transactions (Tables)12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]
Summary of Compensation of Key ManagementThe remuneration of directors and members of the executive management team was as follows:
For the years ended December 31,
2019 $
2018 $
Stock-based compensation
2,731
2,410
Salaries, benefits and directors' fees included in general and administrative expenses
2,565
2,636
Salaries and benefits included in exploration expenditures
369
547
Salaries and benefits capitalized to Investment in the Joint Venture
504
812
Salaries and benefits capitalized to PP&E
204
-
6,373
6,405
As at December 31,
As at December 31,
2019 $
2018 $
Total due to directors and executive team
357
164

General and Administrative Ex_2

General and Administrative Expenses (Tables)12 Months Ended
Dec. 31, 2019
Disclosure Of General And Administrative Expenses [Abstract]
Summary of Company's General and Administrative ExpensesThe following table summarizes the Company’s general and administrative expenses:
For the years ended December 31,
2019
2018
$
$
Salaries, benefits and directors' fees
3,657
4,410
Office and administration
941
1,279
Professional fees
955
1,218
Regulatory and filing fees
235
826
Travel
444
615
Investor relations
227
309
Depreciation
233
93
6,692
8,750

Exploration Expenditures (Table

Exploration Expenditures (Tables)12 Months Ended
Dec. 31, 2019
Disclosure Of Exploration Expenditures [Abstract]
Summary of Company's Exploration ExpendituresThe following table summarizes the Company’s exploration expenditures related to the Thacker Pass project:
For the years ended December 31,
2019 $
2018 $
Drilling and geological expenses
533
1,319
Permitting and environmental
227
3,239
Engineering
1,063
173
Consulting and salaries
5,574
4,255
Field supplies and other
757
552
Depreciation
371
477
Total exploration expenditures
8,525
10,015

Segmented Information (Tables)

Segmented Information (Tables)12 Months Ended
Dec. 31, 2019
Disclosure Of Operating Segments [Abstract]
Summary of Reportable SegmentsThe Company’s reportable segments are summarized in the following tables:
Organoclay $
Thacker Pass $
Cauchari- Olaroz $
Corporate $
Total $
As at December 31, 2019
Property, plant and equipment
-
1,147
156,854
923
158,924
Assets held for sale
4,279
-
-
-
4,279
Exploration and evaluation assets
-
3,852
-
-
3,852
Total assets
5,621
5,817
248,821
33,540
293,799
Total liabilities
(1,207
)
(3,325
)
(42,431
)
(87,215
)
(134,178
)
For the year ended December 31, 2019
Property, plant and equipment additions
23
736
31,447
813
33,019
Loss from discontinued operations
(2,193
)
-
-
-
(2,193
)
Net (loss)/income
(2,193
)
(9,462
)
3,035
60,285
51,665
Exploration expenditures
-
8,525
-
-
8,525
Depreciation
326
379
195
226
1,126
Organoclay $
Thacker Pass $
Cauchari- Olaroz $
Corporate $
Total $
As at December 31, 2018
Property, plant and equipment
4,581
791
-
51
5,423
Exploration and evaluation assets
-
3,540
-
-
3,540
Total assets
7,406
5,157
35,282
56,094
103,939
Total liabilities
(1,695
)
(1,442
)
-
(18,520
)
(21,657
)
For the year ended December 31, 2018
Property, plant and equipment expenditures
178
610
-
23
811
Loss from discontinued operations
(14,445
)
-
-
-
(14,445
)
Net (loss)/income
(14,445
)
(11,182
)
347
(2,987
)
(28,267
)
Exploration expenditures
-
10,015
-
-
10,015
Depreciation
1,158
193
-
13
1,364
Schedule of Non-current Assets and Revenues of Discontinued Operation by Geographical SegmentThe Company’s non-current assets and revenues of the discontinued operation are segmented geographically as follows:
Canada $
United States $
Argentina $
Total $
Non-current assets (1)
As at December 31, 2019
923
5,000
156,853
162,776
As at December 31, 2018
51
8,912
35,282
44,245
Revenue of the discontinued operation
For the year ended December 31, 2019
-
5,348
-
5,348
For the year ended December 31, 2018
-
4,843
-
4,843
1

Supplemental Disclosure with _2

Supplemental Disclosure with Respect to Cash Flows (Tables)12 Months Ended
Dec. 31, 2019
Supplemental Information With Respect To Cash Flows [Abstract]
Supplementary Disclosure of Company's Non Cash TransactionsSupplementary disclosure of the Company’s non-cash transactions is provided in the table below:
As at December 31,
As at December 31,
2019 $
2018 $
Accounts payable related to property, plant and equipment
29
101
Accounts payable related to inventories
357
699
Accounts payable related to financings
78
73
For the years ended December 31,
2019 $
2018 $
RSUs and DSUs granted to settle accrued liabilities
2,110
1,268
Assets acquired under lease agreements
1,197
43
Interest paid
3,194
50
Income taxes paid
-
-

Income Taxes (Tables)

Income Taxes (Tables)12 Months Ended
Dec. 31, 2019
Major Components Of Tax Expense Income [Abstract]
Income Tax Recognized in Profit or LossIncome tax recognized in profit or loss is comprised of the following
December 31, 2019 $
December 31, 2018 $
Withholding taxes accrued (i)
1,445
-
Current income tax
-
-
Tax expense (recovery)
1,445
-
i) Estimated accrued foreign withholding taxes of $1,445 at December 31, 2019 (2018 - $0) are payable when interest from intercompany loans between the Company and its Joint Operation is received.
Summary of Reconciliation of Income Taxes at Canadian Statutory Rates with Reported TaxesA reconciliation of income taxes at Canadian statutory rates with reported taxes is as follows:
For the years ended December 31
2019 $
2018 $
Income/(Loss) for the year before tax
53,110
(28,267
)
Statutory tax rate
27
%
27
%
Expected income tax expense/(recovery) at statutory tax rate
14,340
(7,632
)
Items not taxable for income tax purposes
(369
)
(1,316
)
Gain on dilution of interest in Joint Venture
(20,113
)
-
Effect of lower tax rate in foreign jurisdiction
1,034
2,021
Withholding tax expense
1,445
Change in unrecognized deferred tax assets and other
5,108
6,927
Tax expense
1,445
-
Summary of Significant Components of Company's Deferred Tax Assets and Liabilities15.
INCOME TAXES (Continued) The significant components of the Company's deferred tax assets and liabilities are as follows:
December 31, 2019 $
December 31, 2018 $
Deferred tax assets:
Tax loss carryforwards
29,308
18,956
Exploration and evaluation assets
170
472
Financing costs
112
436
Capital assets
1,707
2,203
Other
3,190
131
Deferred tax assets
34,487
22,198
Deferred tax liabilities:
Capital assets
(3,749
)
-
Other
(270
)
-
Deferred tax liabilities
(4,019
)
-
Unrecognized deferred tax assets
30,468
22,198

Financial Instruments (Tables)

Financial Instruments (Tables)12 Months Ended
Dec. 31, 2019
Disclosure Of Financial Instruments [Abstract]
Summary of Maturities for Financial Liabilities on Undiscounted BasisThe following table summarizes the maturities of the Company’s financial liabilities on an undiscounted basis:
Years ending December 31,
2020
2021
2022 and later
Total
$
$
$
$
Credit facility¹
6,707
6,693
110,038
123,438
Joint Operation borrowings¹
-
-
59,761
59,761
Accounts payable and accrued liabilities
11,879
-
-
11,879
Obligations under office leases¹
298
172
540
1,010
Other obligations¹
229
228
8,219
8,676
Total
19,113
7,093
178,558
204,764
¹ Credit facility, Joint Operation borrowings, Obligations under office leases and Other obligations include principal and interest/finance charges.

Assets Held for Sale and Disc_2

Assets Held for Sale and Discontinued Operation (Tables)12 Months Ended
Dec. 31, 2019
Assets Held For Sale And Discontinued Operation [Abstract]
Summary of Discontinued Operations within Consolidated Statements of Comprehensive Income/(Loss) and Consolidated Statements of Cash Flows ExplanatoryThe results from operations for the organoclay business have, together with restated comparatives, been presented as discontinued operations within the Consolidated Statements of Comprehensive Income/(Loss) and the Consolidated Statements of Cash Flows.
Years Ended December 31,
2019
2018
$
$
ORGANOCLAY SALES
5,348
4,843
COST OF SALES
-
Production costs
(5,867
)
(5,681
)
Depreciation
(427
)
(1,119
)
Total cost of sales
(6,294
)
(6,800
)
GROSS LOSS
(946
)
(1,957
)
EXPENSES
Organoclay research and development
(281
)
(578
)
Impairment of Organoclay property, plant and equipment and write off of other assets
(393
)
(11,580
)
General, administrative and other
(573
)
(330
)
(1,247
)
(12,488
)
NET LOSS FROM DISCONTINUED OPERATIONS
(2,193
)
(14,445
)
Loss per share - basic
(0.02
)
(0.16
)
Loss per share - diluted
(0.02
)
(0.16
)
Net cash outflow from discontinued operations
(673
)
(1,251
)

Nature of Operations - Addition

Nature of Operations - Additional Information (Details)12 Months Ended
Dec. 31, 2019Project
Nature Of Operations [Abstract]
Name of reporting entityLithium Americas Corp.
Number of significant projects2

Basis of Preparation and Pres_2

Basis of Preparation and Presentation - Additional Information (Detail)12 Months Ended
Dec. 31, 2019
Basis Of Preparation And Presentation [Abstract]
Date of consolidated financial statements approved for issuanceMar. 12,
2020

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details)12 Months Ended
Dec. 31, 2019USD ($)JointArrangementJan. 01, 2019USD ($)
Significant Accounting Policies [Line Items]
Number of joint arrangements | JointArrangement2
Lease assets $ 296,000
Lease liabilities $ 296,000
Weighted average incremental borrowing rate for lease liabilities5.00%
Property, plant and equipment [member]
Significant Accounting Policies [Line Items]
Impairment loss $ 0
Process Testing Facility Equipment
Significant Accounting Policies [Line Items]
Property plant and equipment, estimated useful life10 years
Property, plant and equipment, depreciation methodstraight-line basis
Office Equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, depreciation methoddeclining balance method
Property, plant and equipment, annual depreciation rate20.00%
Office Equipment | Bottom of Range
Significant Accounting Policies [Line Items]
Lease contracts term3 years
Office Equipment | Top of Range
Significant Accounting Policies [Line Items]
Lease contracts term5 years
Other Equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, depreciation methodstraight-line basis
Other Equipment | Bottom of Range
Significant Accounting Policies [Line Items]
Property plant and equipment, estimated useful life7 years
Other Equipment | Top of Range
Significant Accounting Policies [Line Items]
Property plant and equipment, estimated useful life15 years
Offices | Bottom of Range
Significant Accounting Policies [Line Items]
Lease contracts term3 years
Offices | Top of Range
Significant Accounting Policies [Line Items]
Lease contracts term5 years
Buildings | Bottom of Range
Significant Accounting Policies [Line Items]
Lease contracts term3 years
Buildings | Top of Range
Significant Accounting Policies [Line Items]
Lease contracts term5 years
Cars | Bottom of Range
Significant Accounting Policies [Line Items]
Lease contracts term3 years
Cars | Top of Range
Significant Accounting Policies [Line Items]
Lease contracts term5 years

Cash and Cash Equivalents - Sum

Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in ThousandsDec. 31, 2019Dec. 31, 2018Dec. 31, 2017
Cash And Cash Equivalents [Abstract]
Cash $ 53,894 $ 2,905
Short-term bank deposits29,720 38,699
Cash and cash equivalents $ 83,614 $ 41,604 $ 55,394

Cash and Cash Equivalents - Add

Cash and Cash Equivalents - Additional Information (Details) $ in Thousands, $ in ThousandsDec. 31, 2019USD ($)Dec. 31, 2019CAD ($)Dec. 31, 2018USD ($)Dec. 31, 2018CAD ($)
Disclosure Of Cash And Cash Equivalents [Line Items]
Cash $ 53,894 $ 2,905
Company’s joint operation’s cash52,495
Canadian Dollar
Disclosure Of Cash And Cash Equivalents [Line Items]
Cash $ 388 $ 215
US Dollar
Disclosure Of Cash And Cash Equivalents [Line Items]
Cash1,011 $ 2,691
Company’s joint operation’s cash $ 52,495
Bottom of Range
Disclosure Of Cash And Cash Equivalents [Line Items]
Percentage of interest on cash0.25%0.25%
Percentage of interest on short term bank deposits1.00%1.00%
Top of Range
Disclosure Of Cash And Cash Equivalents [Line Items]
Percentage of interest on cash1.50%1.50%
Percentage of interest on short term bank deposits2.81%2.81%

Joint Operation - Additional In

Joint Operation - Additional Information (Details) $ in Thousands, shares in MillionsAug. 16, 2019USD ($)sharesAug. 15, 2019Sep. 11, 2018USD ($)tonDec. 31, 2019USD ($)CommunityDec. 31, 2018USD ($)Dec. 31, 2012USD ($)Dec. 31, 2017USD ($)
Disclosure Of Joint Operations [Line Items]
Transaction costs $ 1,102 $ 974
Cash and cash equivalents83,614 41,604 $ 55,394
Property, plant and equipment158,924 5,423
Gain on dilution of interest in Joint Venture74,492
Repayment of loans and accrued interest8,778 18,740
Amount of difference between face value and fair value of non-interest-bearing loans(37,423) $ (5,827)
Share of loans of the Joint Operation23,241
Elimination of loans as a result of Joint Operation accounting $ (21,731)
Percentage of commitments and contingencies in joint operation share50.00%
Exar Capital B V
Disclosure Of Joint Operations [Line Items]
Amount of difference between face value and fair value of non-interest-bearing loans $ 37,423
Minera Exar S.A
Disclosure Of Joint Operations [Line Items]
Gain on dilution of interest in Joint Venture74,492
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 S.A | Grupo Minero Los Boros
Disclosure Of Joint Operations [Line Items]
Description of terms of option agreementThe 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.
Payment for purchase option $ 100
Total consideration on right to exercise purchase option12,000
Consideration payments in quarterly installments $ 200
Minimum production for the purchase option exercise | ton20,000
Borrowings of joint venture $ 12,000
Royalty payment upon the exercises the purchase option $ 300
Royalty payment descriptionwithin 10 days of the commercial plant construction start date
Net operating interest of exercises the purchase option3.00%
Net operation interest payable description40 years, payable in Argentinian pesos, annually within the 10 business days after calendar year end
JEMSE Arrangement | Minera Exar S.A
Disclosure Of Joint Operations [Line Items]
Rights granted to acquire equity interest in joint venture, percentage8.50%
Rights granted to acquire equity interest in joint venture, value $ 1
JEMSE Arrangement | Minera Exar S.A | Cauchari-Olaroz
Disclosure Of Joint Operations [Line Items]
Percentage of pro rata share8.50%
Minera Exar S.A
Disclosure Of Joint Operations [Line Items]
Proceeds from issue of ordinary shares $ 160,000 $ 160,000
Common shares issued | shares141
Ownership interest in joint operation50.00%
Investment repaid $ 8,000
Transaction costs $ 1,102
Gain on dilution of interest in Joint Venture74,492
Annual royalty due $ 100
Royalty expiration descriptionMay of every year and expiring in 2041
Annual fees due in 2020 $ 186
Annual fees due in 2021198
Annual fees due in between 2022 and 2061278
Commitments related to contract for construction of evaporation ponds and other construction contracts $ 14,596
Minera Exar S.A | Cauchari-Olaroz
Disclosure Of Joint Operations [Line Items]
Number of communities | Community6,000
Minera Exar S.A | Cauchari-Olaroz | Bottom of Range
Disclosure Of Joint Operations [Line Items]
Term of Project5 years
Minera Exar S.A | Cauchari-Olaroz | Top of Range
Disclosure Of Joint Operations [Line Items]
Term of Project30 years
Minera Exar S.A | JEMSE Arrangement
Disclosure Of Joint Operations [Line Items]
Ownership interest in joint operation62.50%50.00%
Rights granted to acquire equity interest in joint operation, percentage8.50%
Minera Exar S.A | Ganfeng
Disclosure Of Joint Operations [Line Items]
Ownership interest in joint operation37.50%50.00%
Minera Exar and Exar Capital B.V.
Disclosure Of Joint Operations [Line Items]
Cash and cash equivalents $ 52,495 $ 52,495
Property, plant and equipment $ 159,851 159,851
Transition effect due to accounting change from joint venture accounting to joint operation20,094
Exar Capital B V
Disclosure Of Joint Operations [Line Items]
Share of loans of the Joint Operation23,241
Elimination of loans as a result of Joint Operation accounting $ 21,731
Percentage of total amount of loans granted to joint operation62.50%

Joint Operation - Gain on Dilut

Joint Operation - Gain on Dilution of Interest in Joint Venture (Details) $ in Thousands12 Months Ended
Dec. 31, 2019USD ($)
Disclosure Of Joint Ventures [Line Items]
Gain on dilution of interest in Joint Venture $ 74,492
Minera Exar S.A
Disclosure Of Joint Ventures [Line Items]
Company’s 50% share of the $160,000 increase in Minera Exar's share capital80,000
Carrying value of the Company's diluted share in Investment in Joint Venture(5,508)
Gain on dilution of interest in Joint Venture $ 74,492

Joint Operation - Gain on Dil_2

Joint Operation - Gain on Dilution of Interest in Joint Venture (Parenthetical) (Details) - Minera Exar S.A - USD ($) $ in ThousandsAug. 16, 2019Dec. 31, 2019
Disclosure Of Joint Ventures [Line Items]
Ownership interest in joint operation50.00%
Proceeds from issue of ordinary shares $ 160,000 $ 160,000

Joint Operation - Summary of Ch

Joint Operation - Summary of Changes in Investments in Joint Ventures Initial Contribution (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Disclosure Of Joint Ventures [Line Items]
Investment in Joint Venture. Balance $ 35,282 $ 19,637
Share of (loss)/income of Joint Venture3,648 (347)
Contribution to Joint Venture38,482 18,793
Return of the investment(8,004)
Gain on increase of interest in Joint Venture6,104
Elimination of unrealized gain on intercompany transactions(1,910)(901)
Share of increase in Minera Exar net assets as a result of the Project Investment, less diluted interest74,492
Transition to Joint Operation accounting(149,994)
Investment in Joint Venture. Balance35,282
Minera Exar S.A
Disclosure Of Joint Ventures [Line Items]
Investment in Joint Venture. Balance27,230 19,637
Share of (loss)/income of Joint Venture(414)(1,077)
Contribution to Joint Venture1,059 11,403
Return of the investment(8,004)
Gain on increase of interest in Joint Venture6,104
Elimination of unrealized gain on intercompany transactions(334)(833)
Share of increase in Minera Exar net assets as a result of the Project Investment, less diluted interest74,492
Transition to Joint Operation accounting(102,033)
Investment in Joint Venture. Balance27,230
Exar Capital B V
Disclosure Of Joint Ventures [Line Items]
Investment in Joint Venture. Balance8,052
Share of (loss)/income of Joint Venture4,062 730
Contribution to Joint Venture37,423 7,390
Elimination of unrealized gain on intercompany transactions(1,576)(68)
Transition to Joint Operation accounting $ (47,961)
Investment in Joint Venture. Balance $ 8,052

Joint Operation - Summary of Lo

Joint Operation - Summary of Loans to Joint Operation (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Disclosure Of Joint Ventures [Line Items]
Loans to Joint Venture, beginning balance $ 12,609 $ 11,479
Repayment of loan to Joint Venture(8,778)(18,740)
Accrued interest3,791 1,697
The difference between the face value and the fair value of loans to Exar Capital B.V.(37,423)(5,827)
Share of loans of the Joint Operation23,241
Elimination of loans as a result of Joint Operation accounting(21,731)
Loans to Joint Venture, ending balance37,959 12,609
Minera Exar S.A
Disclosure Of Joint Ventures [Line Items]
Loans to Joint Venture16,500
Exar Capital B V
Disclosure Of Joint Ventures [Line Items]
Loans to Joint Venture66,250 $ 7,500
The difference between the face value and the fair value of loans to Exar Capital B.V. $ 37,423

Joint Operation - Summary of _2

Joint Operation - Summary of Loans to Joint Operation (Parenthetical) (Details)12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Minera Exar S.A
Disclosure Of Joint Ventures [Line Items]
Borrowings, interest rate basisLIBOR+7.57%
Maturity period of borrowings7 years
Exar Capital B V
Disclosure Of Joint Ventures [Line Items]
Borrowings, interest rate basisLIBOR+9.89LIBOR+9.89%
Maturity period of borrowings7 years7 years
LIBOR | Minera Exar S.A
Disclosure Of Joint Ventures [Line Items]
Borrowings, adjustment to interest rate basis7.57%
LIBOR | Exar Capital B V
Disclosure Of Joint Ventures [Line Items]
Borrowings, adjustment to interest rate basis9.89%9.89%

Property Plant and Equipment -

Property Plant and Equipment - Summary of Property Plant and Equipment (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year $ 5,423
Additions33,019 $ 811
Net book value at ending of the year158,924 5,423
Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year19,889 20,222
Adjustment on adoption of IFRS 16296
Restated balance at January 1, 201920,185
50% of Minera Exar fixed assets124,752
Additions33,019 811
Disposal of fixed assets(60)(1,144)
Reclassification to assets held for sale(18,857)
Net book value at ending of the year161,149 19,889
Capitalization of interest2,110
Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year14,466 2,152
Depreciation for the year1,126 1,210
Disposal of fixed assets(50)(476)
50% of Minera Exar accumulated depreciation1,260
Write down/Impairment11,580
Reclassification to assets held for sale(14,577)
Net book value at ending of the year2,225 14,466
Cauchari-Olaroz Project
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at ending of the year156,854
Cauchari-Olaroz Project | Cost
Disclosure Of Property Plant And Equipment [Line Items]
50% of Minera Exar fixed assets124,752
Additions31,447
Net book value at ending of the year158,309
Capitalization of interest2,110
Cauchari-Olaroz Project | Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Depreciation for the year195
50% of Minera Exar accumulated depreciation1,260
Net book value at ending of the year1,455
Land
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year386
Net book value at ending of the year386
Land | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year386 386
Restated balance at January 1, 2019386
Reclassification to assets held for sale(386)
Net book value at ending of the year386
Buildings
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year1,308
Net book value at ending of the year1,308
Buildings | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year2,143 2,143
Restated balance at January 1, 20192,143
Reclassification to assets held for sale(2,143)
Net book value at ending of the year2,143
Buildings | Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year835 183
Depreciation for the year75 107
Write down/Impairment545
Reclassification to assets held for sale(910)
Net book value at ending of the year835
Equipment and Machinery
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year3,207
Net book value at ending of the year754 3,207
Equipment and Machinery | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year5,066 5,562
Restated balance at January 1, 20195,066
Additions526 624
Disposal of fixed assets(1,120)
Reclassification to assets held for sale(4,641)
Net book value at ending of the year951 5,066
Equipment and Machinery | Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year1,859 783
Depreciation for the year425 406
Disposal of fixed assets(476)
Write down/Impairment1,146
Reclassification to assets held for sale(2,087)
Net book value at ending of the year197 1,859
Organoclay Plant | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year11,471 11,495
Restated balance at January 1, 201911,471
Disposal of fixed assets(24)
Reclassification to assets held for sale(11,471)
Net book value at ending of the year11,471
Organoclay Plant | Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year11,471 1,006
Depreciation for the year576
Write down/Impairment9,889
Reclassification to assets held for sale(11,471)
Net book value at ending of the year11,471
Other
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year522
Net book value at ending of the year1,316 522
Other | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year823 636
Adjustment on adoption of IFRS 16296
Restated balance at January 1, 20191,119
Additions1,046 187
Disposal of fixed assets(60)
Reclassification to assets held for sale(216)
Net book value at ending of the year1,889 823
Other | Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book value at beginning of the year301 180
Depreciation for the year431 121
Disposal of fixed assets(50)
Reclassification to assets held for sale(109)
Net book value at ending of the year $ 573 $ 301

Property Plant and Equipment _2

Property Plant and Equipment - Summary of Property Plant and Equipment (Parenthetical) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Jan. 01, 2019
Disclosure Of Property Plant And Equipment [Line Items]
Lease assets $ 296
Cauchari-Olaroz
Disclosure Of Property Plant And Equipment [Line Items]
Company's share in construction costs and project-related costs50.00%
Other Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Lease assets $ 1,140
Accumulated depreciation $ 259
Minera Exar S.A | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Percentage of fixed assets50.00%
Minera Exar S.A | Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Percentage of accumulated depreciation50.00%

Exploration and Evaluation As_3

Exploration and Evaluation Assets - Schedule of Exploration and Evaluation Assets Relating to Thacker Pass Project (Details) - Exploration and Evaluation Assets - Thacker Pass - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Acquisition costs
Total exploration and evaluation assets, beginning balance $ 3,540 $ 2,104
Additions560 1,436
Write offs(248)
Total exploration and evaluation assets, ending balance $ 3,852 $ 3,540

Exploration and Evaluation As_4

Exploration and Evaluation Assets - Additional Information (Details) - Thacker Pass12 Months Ended
Dec. 31, 2019USD ($)Claim
Disclosure Of Exploration And Evaluation Assets [Line Items]
Percentage of royalty revenue20.00%
Percentage of gross royalty revenue8.00%
Cumulative payment $ 22,000,000
Percentage royalty revenue, reduction4.00%
Percentage of option to reduce royalty revenue1.75%
Smelter Royalty Payment Due on November 15
Disclosure Of Exploration And Evaluation Assets [Line Items]
Advance net smelter return royalty payment $ 2,000
Number of mining claims | Claim4
Percentage of net smelter return royalty1.50%
2020
Disclosure Of Exploration And Evaluation Assets [Line Items]
Cumulative payment $ 110,000
2021
Disclosure Of Exploration And Evaluation Assets [Line Items]
Cumulative payment137,500
2022
Disclosure Of Exploration And Evaluation Assets [Line Items]
Cumulative payment137,500
2023
Disclosure Of Exploration And Evaluation Assets [Line Items]
Cumulative payment $ 2,887,500

Long-Term Borrowings - Schedule

Long-Term Borrowings - Schedule of Long-Term Borrowings (Details) - USD ($) $ in ThousandsDec. 31, 2019Dec. 31, 2018
Current portion of long-term borrowings
Current portion of long-term borrowings $ 3,111 $ 539
Long-term borrowings
Long-term borrowings117,110 18,027
Borrowings120,221 18,566
Other Liabilities
Current portion of long-term borrowings
Current portion of long-term borrowings449 201
Long-term borrowings
Long-term borrowings5,222 671
Accrued Interest
Current portion of long-term borrowings
Current portion of long-term borrowings2,662 338
Credit Facility (Net of Financing Costs)
Long-term borrowings
Long-term borrowings83,043 $ 17,356
Share of Joint Operation Borrowings
Long-term borrowings
Long-term borrowings $ 28,845

Long-Term Borrowings - Addition

Long-Term Borrowings - Additional Information (Details) - USD ($)1 Months Ended12 Months Ended
Oct. 31, 2018Dec. 31, 2019Dec. 31, 2018
Disclosure Of Detailed Information About Borrowings [Line Items]
Drawn borrowing facilities $ 66,250,000 $ 17,500,000
Carrying value (discounted)117,110,000 18,027,000
Other liabilities5,222,000 $ 671,000
Mining Properties
Disclosure Of Detailed Information About Borrowings [Line Items]
Other liabilities2,236,000
Lithium Nevada Corp
Disclosure Of Detailed Information About Borrowings [Line Items]
Other liabilities $ 1,500,000
Ganfeng | Exar Capital B V
Disclosure Of Detailed Information About Borrowings [Line Items]
Percentage of share of loans recognized62.50%
Carrying value (discounted) $ 28,845,000
Face value net of financing costs59,694,000
Senior Credit Facility
Disclosure Of Detailed Information About Borrowings [Line Items]
Proceed from long-term borrowings66,250,000
Drawn borrowing facilities205,000,000
Net drawn borrowing facilities $ 83,750,000
Term of credit facilityThe credit facility has a term of six years from August 8, 2018, 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.
Credit facility term6 years
Description of repayment of credit facilityRepayments of borrowings made under the credit facility must start on August 8, 2022, being the fourth anniversary of the first drawdown date, in an amount equal to 75% of Minera Exar’s Free Cash Flow (as defined in the credit facility agreement). As security for the facility, the Company granted to the lenders a first priority security interest in all assets except those that represent its ownership interest in the Cauchari-Olaroz Project.
Percentage of right to purchase share of production75.00%
Senior Credit Facility | Bangchak
Disclosure Of Detailed Information About Borrowings [Line Items]
Proceed from related party borrowings $ 23,187,000
Senior Credit Facility | Ganfeng
Disclosure Of Detailed Information About Borrowings [Line Items]
Proceed from long-term borrowings $ 43,063,000
Senior Credit Facility | First Three Years
Disclosure Of Detailed Information About Borrowings [Line Items]
Borrowings interest rate8.00%
Senior Credit Facility | Year Four
Disclosure Of Detailed Information About Borrowings [Line Items]
Borrowings interest rate8.50%
Senior Credit Facility | Year Five
Disclosure Of Detailed Information About Borrowings [Line Items]
Borrowings interest rate9.00%
Senior Credit Facility | Year Six
Disclosure Of Detailed Information About Borrowings [Line Items]
Borrowings interest rate9.50%
Non-Recourse Loan Agreement | Ganfeng
Disclosure Of Detailed Information About Borrowings [Line Items]
Borrowings interest rate10.00%
Percentage of right to purchase share of production50.00%
Borrowing facility $ 100,000,000
Borrowings, interest rate basisLIBOR plus 5.5%

Equity Compensation - Additiona

Equity Compensation - Additional Information (Details) $ in ThousandsJan. 01, 2020sharesOct. 08, 2019USD ($)sharesAug. 21, 2018USD ($)sharesDec. 31, 2019USD ($)sharesDec. 31, 2019CAD ($)sharesDec. 31, 2018USD ($)sharesDec. 31, 2018CAD ($)sharesOct. 08, 2019CAD ($)Aug. 21, 2018CAD ($)Dec. 31, 2017shares
Disclosure Of Equity Compensation [Line Items]
Stock options granted | shares90,000 90,000
Weighted average share price at the time of exercise of options $ 4.73 $ 5.52
Stock-based compensation expense $ 4,119 $ 4,592
Share Transactions
Disclosure Of Equity Compensation [Line Items]
Number of shares granted | shares118,000
Number of shares issued | shares121,000
Number of cashless stock options exercised | shares147,000
Directors, Officers and Employees
Disclosure Of Equity Compensation [Line Items]
Stock options granted | shares0 0 90,000 90,000
Restricted Share Units
Disclosure Of Equity Compensation [Line Items]
Number of shares granted | shares955,000 955,000 246,000 246,000
Number of RSUs converted into shares | shares2,388,000 1,668,000 1,550,000
Restricted Share Units | Share Transactions
Disclosure Of Equity Compensation [Line Items]
Number of RSUs converted into shares | shares3,000
Restricted Share Units | Operating Expense
Disclosure Of Equity Compensation [Line Items]
Fair value of share units recorded as a share-based payments expense $ 2,252 $ 939
Restricted Share Units | 2020
Disclosure Of Equity Compensation [Line Items]
Fair value of share units previously granted but not yet vested981
Restricted Share Units | 2021
Disclosure Of Equity Compensation [Line Items]
Fair value of share units previously granted but not yet vested404
Restricted Share Units | 2022
Disclosure Of Equity Compensation [Line Items]
Fair value of share units previously granted but not yet vested $ 140
Deferred Share Units
Disclosure Of Equity Compensation [Line Items]
Number of shares granted | shares135,000 135,000 87,000 87,000
Fair value of shares granted $ 611 $ 497
Number of RSUs converted into shares | shares228,000 128,000 41,000
Cashless Exercise Provision Stock Option Plan
Disclosure Of Equity Compensation [Line Items]
Stock-based compensation expense $ 239 $ 3,172
Cashless Exercise Provision Stock Option Plan | Inventory
Disclosure Of Equity Compensation [Line Items]
Stock-based compensation expense0 4
Cashless Exercise Provision Stock Option Plan | Production Costs
Disclosure Of Equity Compensation [Line Items]
Stock-based compensation expense $ 4 $ 62
Performance Share Units
Disclosure Of Equity Compensation [Line Items]
Number of shares granted | shares323,000 699,000 323,000 323,000 699,000 699,000
Performance based restricted share units vesting descriptionAll PSUs vest on the third anniversary of the grant date.
Fair value per PSUs granted $ 1,513 $ 4,030 $ 6,250 $ 8,500
Rate of earnings on TSR during year 120.00%20.00%
Rate of earnings on TSR during year 220.00%20.00%
Rate of earnings on TSR during year 320.00%20.00%
Rate of earnings on TSR during 1-3 years40.00%40.00%
Number of RSUs converted into shares | shares1,010,000 699,000
Performance Share Units | Operating Expense
Disclosure Of Equity Compensation [Line Items]
Fair value of share units recorded as a share-based payments expense $ 1,628 $ 481
Performance Share Units | 2020
Disclosure Of Equity Compensation [Line Items]
Fair value of share units previously granted but not yet vested1,771
Performance Share Units | 2021
Disclosure Of Equity Compensation [Line Items]
Fair value of share units previously granted but not yet vested1,275
Performance Share Units | 2022
Disclosure Of Equity Compensation [Line Items]
Fair value of share units previously granted but not yet vested $ 352
Equity Incentive Plan
Disclosure Of Equity Compensation [Line Items]
Maximum percentage of outstanding common shares reserved for issuance10.00%10.00%
Maximum term for stock option granted5 years5 years
Equity Incentive Plan | Restricted Share Units
Disclosure Of Equity Compensation [Line Items]
Number of shares granted | shares955,000 955,000
Fair value of shares granted $ 4,613 $ 1,048

Equity Compensation - Summary o

Equity Compensation - Summary of Changes to Number of Restricted Shares (Details) - Restricted Share Units - shares shares in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Disclosure Of Fair Value Measurement Of Equity [Line Items]
Number of shares outstanding balance1,668 1,550
Number of shares converted into common shares(206)(123)
Number of shares granted955 246
Number of shares forfeited(20)(5)
Number of shares cancelled(9)
Number of shares outstanding balance2,388 1,668

Equity Compensation - Summary_2

Equity Compensation - Summary of Changes to Number of Deferred Share Units (Details) - Deferred Share Units - shares shares in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Disclosure Of Fair Value Measurement Of Equity [Line Items]
Number of shares outstanding balance128 41
Number of shares granted135 87
Number of shares converted into common shares(35)
Number of shares outstanding balance228 128

Equity Compensation - Summary_3

Equity Compensation - Summary of Stock Options Outstanding and Exercisable (Details) shares in ThousandsDec. 31, 2019CAD ($)sharesYearDec. 31, 2018CAD ($)sharesDec. 31, 2017CAD ($)shares
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Number of options outstanding | shares3,731 5,152 5,306
Weighted average remaining contractual life of options outstanding (years) | Year2.2
Weighted average exercise price of options outstanding $ 5.94 $ 5.02 $ 4.85
Number of options exercisable | shares3,731
Weighted average exercise price of options exercisable $ 5.94
$1.50-$2.35
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Number of options outstanding | shares860
Weighted average remaining contractual life of options outstanding (years) | Year1
Weighted average exercise price of options outstanding $ 2.12
Number of options exercisable | shares860
Weighted average exercise price of options exercisable $ 2.12
$1.50-$2.35 | Bottom of Range
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Exercise price of options outstanding1.50
$1.50-$2.35 | Top of Range
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Exercise price of options outstanding $ 2.35
$4.55 - $5.00
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Number of options outstanding | shares1,027
Weighted average remaining contractual life of options outstanding (years) | Year2.2
Weighted average exercise price of options outstanding $ 4.89
Number of options exercisable | shares1,027
Weighted average exercise price of options exercisable $ 4.89
$4.55 - $5.00 | Bottom of Range
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Exercise price of options outstanding4.55
$4.55 - $5.00 | Top of Range
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Exercise price of options outstanding $ 5
$8.05 - $12.34
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Number of options outstanding | shares1,844
Weighted average remaining contractual life of options outstanding (years) | Year2.7
Weighted average exercise price of options outstanding $ 8.31
Number of options exercisable | shares1,844
Weighted average exercise price of options exercisable $ 8.31
$8.05 - $12.34 | Bottom of Range
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Exercise price of options outstanding8.05
$8.05 - $12.34 | Top of Range
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Exercise price of options outstanding $ 12.34

Equity Compensation - Summary_4

Equity Compensation - Summary of Changes to Stock Options Outstanding (Details) shares in Thousands12 Months Ended
Dec. 31, 2019CAD ($)sharesDec. 31, 2018CAD ($)shares
Disclosure Of Changes To Stock Options Outstanding [Abstract]
Number of Options, Balance Outstanding | shares5,152 5,306
Number of Options, Granted | shares90
Number of Options, Exercised | shares(1,203)(176)
Number of Options, Forfeited | shares(44)
Number of Options, Expired | shares(218)(24)
Number of Options, Balance Outstanding | shares3,731 5,152
Weighted Average Exercise Price, Balance Outstanding | $ $ 5.02 $ 4.85
Weighted Average Exercise Price, Granted | $9.54
Weighted Average Exercise Price, Exercised | $(2.60)(1.59)
Weighted Average Exercise Price, Forfeited | $(7.72)
Weighted Average Exercise Price, Expired | $(6.41)(6.23)
Weighted Average Exercise Price, Balance Outstanding | $ $ 5.94 $ 5.02

Equity Compensation - Summary_5

Equity Compensation - Summary of Fair Value of Performance Awards Granted by Using Monte Carlo Simulation Model (Details) - Performance Share Units shares in Thousands, $ in ThousandsOct. 08, 2019USD ($)sharesAug. 21, 2018USD ($)sharesDec. 31, 2019sharesDec. 31, 2018sharesOct. 08, 2019CAD ($)Aug. 21, 2018CAD ($)
Disclosure Of Issued Capital Equity Compensation And Warrants [Line Items]
Number of shares granted | shares323 699 323 699
Correlation coefficient between the peer group companies13.10%13.10%13.10%13.10%
Risk-free interest rate1.38%2.70%1.38%2.70%
Dividend rate0.00%0.00%0.00%0.00%
Annualized volatility62.50%71.90%62.50%71.90%
Peer Group average volatility64.10%65.90%64.10%65.90%
Estimated forfeiture rate10.00%11.60%10.00%11.60%
Fair value per PSU granted (CDN$) $ 1,513 $ 4,030 $ 6,250 $ 8,500
Total fair value of PSUs granted, prior to forfeiture rate adjustment (CDN$) | $ $ 2,016,000 $ 5,945,000

Equity Compensation -Summary of

Equity Compensation -Summary of Changes to Number of RS-Ps (Details) - Performance Share Units - shares shares in ThousandsOct. 08, 2019Aug. 21, 2018Dec. 31, 2019Dec. 31, 2018
Disclosure Of Fair Value Measurement Of Equity [Line Items]
Number of shares outstanding balance699
Number of shares forfeited(12)
Number of shares granted323 699 323 699
Number of shares outstanding balance1,010 699

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)12 Months Ended
Dec. 31, 2019USD ($)tpaDec. 31, 2018USD ($)
Disclosure Of Transactions Between Related Parties [Line Items]
Senior credit facility $ 120,221,000 $ 18,566,000
Additional debt financing costs paid1,550,000
Drawn borrowing facilities66,250,000 17,500,000
Contractual or other commitments from related party transactions0
Senior Credit Facility
Disclosure Of Transactions Between Related Parties [Line Items]
Drawn borrowing facilities205,000,000
Bangchak
Disclosure Of Transactions Between Related Parties [Line Items]
Senior credit facility $ 205,000,000
Bangchak | Bottom of Range
Disclosure Of Transactions Between Related Parties [Line Items]
Production capacity expansion incremental off-take rights | tpa3,500
Bangchak | Top of Range
Disclosure Of Transactions Between Related Parties [Line Items]
Production capacity expansion incremental off-take rights | tpa6,000
Minera Exar S.A
Disclosure Of Transactions Between Related Parties [Line Items]
Directors remuneration expense $ 37,000 $ 38,000
Cauchari-Olaroz Project | Bottom of Range
Disclosure Of Transactions Between Related Parties [Line Items]
Production capacity expansion | tpa25,000
Cauchari-Olaroz Project | Top of Range
Disclosure Of Transactions Between Related Parties [Line Items]
Production capacity expansion | tpa40,000
Cauchari-Olaroz Project | Bangchak
Disclosure Of Transactions Between Related Parties [Line Items]
Description of terms of option agreementIn consideration for Bangchak (a related party of the Company, by virtue of its position as a shareholder and a lender under the $205,000 senior credit facility) providing its consent to the Project Investment, following the Company’s approval of the expansion of the stated production capacity of the Cauchari-Olaroz project from its current targeted production of 25,000 tonnes per annum (“tpa”) to 40,000 tpa, and entry into an amended off-take agreement with Bangchak, the Company provided incremental off-take rights in favour of Bangchak to acquire up to an additional 3,500 tpa of lithium carbonate, up to an aggregate maximum of 6,000 tpa of lithium carbonate (at a 40,000 tpa project capacity) at market prices.
Additional debt financing costs paid $ 50,000,000
Cauchari-Olaroz Project | Minera Exar S.A | Magna Construcciones S.R.L
Disclosure Of Transactions Between Related Parties [Line Items]
Total construction services contract value $ 1,594,000
Percentage of share of joint venture50.00%

Related Party Transactions - Su

Related Party Transactions - Summary of Compensation of Key Management (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Related Party Transactions [Abstract]
Stock-based compensation $ 2,731 $ 2,410
Salaries, benefits and directors' fees included in general and administrative expenses2,565 2,636
Salaries and benefits included in exploration expenditures369 547
Salaries and benefits capitalized to Investment in the Joint Venture504 812
Salaries and benefits capitalized to PP&E204
Total remuneration6,373 6,405
Total due to directors and executive team $ 357 $ 164

General and Administrative Ex_3

General and Administrative Expenses - Summary of Company's General and Administrative Expenses (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Disclosure Of General And Administrative Expenses [Line Items]
General and administrative expenses $ 6,692 $ 8,750
Salaries, Benefits and Directors Fees
Disclosure Of General And Administrative Expenses [Line Items]
General and administrative expenses3,657 4,410
Office and Administration
Disclosure Of General And Administrative Expenses [Line Items]
General and administrative expenses941 1,279
Professional Fees
Disclosure Of General And Administrative Expenses [Line Items]
General and administrative expenses955 1,218
Regulatory and Filing Fees
Disclosure Of General And Administrative Expenses [Line Items]
General and administrative expenses235 826
Travel
Disclosure Of General And Administrative Expenses [Line Items]
General and administrative expenses444 615
Depreciation
Disclosure Of General And Administrative Expenses [Line Items]
General and administrative expenses233 93
Investor Relations
Disclosure Of General And Administrative Expenses [Line Items]
General and administrative expenses $ 227 $ 309

Exploration Expenditures - Summ

Exploration Expenditures - Summary of Company's Exploration Expenditures (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Disclosure Of Exploration Expenditures [Line Items]
Total exploration expenditures $ 8,525 $ 10,015
Thacker Pass
Disclosure Of Exploration Expenditures [Line Items]
Total exploration expenditures8,525 10,015
Drilling and Geological Expenses | Thacker Pass
Disclosure Of Exploration Expenditures [Line Items]
Total exploration expenditures533 1,319
Permitting and Environmental | Thacker Pass
Disclosure Of Exploration Expenditures [Line Items]
Total exploration expenditures227 3,239
Engineering | Thacker Pass
Disclosure Of Exploration Expenditures [Line Items]
Total exploration expenditures1,063 173
Geological, Consulting and Salaries | Thacker Pass
Disclosure Of Exploration Expenditures [Line Items]
Total exploration expenditures5,574 4,255
Field Supplies and Other | Thacker Pass
Disclosure Of Exploration Expenditures [Line Items]
Total exploration expenditures757 552
Depreciation | Thacker Pass
Disclosure Of Exploration Expenditures [Line Items]
Total exploration expenditures $ 371 $ 477

Exploration Expenditures - Addi

Exploration Expenditures - Additional Information (Details) - Lithium Nevada Corp - Thacker Pass $ in Thousands6 Months Ended12 Months Ended
Jun. 30, 2019USD ($)Dec. 31, 2019USD ($)Instalment
Disclosure Of Exploration Expenditures [Line Items]
Payments from mining contractor $ 3,500
Number of quarterly instalments | Instalment7
Success fee to mining contractor $ 4,650
Repayment amount upon failing to achieve milestone3,500
Other Liabilities
Disclosure Of Exploration Expenditures [Line Items]
Payments from mining contractor $ 1,500

Segmented Information - Additio

Segmented Information - Additional Information (Details)12 Months Ended
Dec. 31, 2019Segment
Disclosure Of Operating Segments [Abstract]
Number of operating segments3
Number of geographic areas3

Segmented Information - Summary

Segmented Information - Summary of Reportable Segments (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Disclosure Of Operating Segments [Line Items]
Property, plant and equipment $ 158,924 $ 5,423
Assets held for sale4,279
Exploration and evaluation assets3,852 3,540
Total assets293,799 103,939
Total liabilities(134,178)(21,657)
Property, plant and equipment additions/expenditures33,019 811
Loss from discontinued operations(2,193)(14,445)
Net Income (Loss)51,665 (28,267)
Exploration expenditures8,525 10,015
Depreciation1,126 1,364
Thacker Pass
Disclosure Of Operating Segments [Line Items]
Exploration expenditures8,525 10,015
Operating Segments | Organoclay Plant
Disclosure Of Operating Segments [Line Items]
Property, plant and equipment4,581
Assets held for sale4,279
Total assets5,621 7,406
Total liabilities(1,207)(1,695)
Property, plant and equipment additions/expenditures23 178
Loss from discontinued operations(2,193)(14,445)
Net Income (Loss)(2,193)(14,445)
Depreciation326 1,158
Operating Segments | Thacker Pass
Disclosure Of Operating Segments [Line Items]
Property, plant and equipment1,147 791
Exploration and evaluation assets3,852 3,540
Total assets5,817 5,157
Total liabilities(3,325)(1,442)
Property, plant and equipment additions/expenditures736 610
Net Income (Loss)(9,462)(11,182)
Exploration expenditures8,525 10,015
Depreciation379 193
Operating Segments | Cauchari-Olaroz
Disclosure Of Operating Segments [Line Items]
Property, plant and equipment156,854
Total assets248,821 35,282
Total liabilities(42,431)
Property, plant and equipment additions/expenditures31,447
Net Income (Loss)3,035 347
Depreciation195
Corporate
Disclosure Of Operating Segments [Line Items]
Property, plant and equipment923 51
Total assets33,540 56,094
Total liabilities(87,215)(18,520)
Property, plant and equipment additions/expenditures813 23
Net Income (Loss)60,285 (2,987)
Depreciation $ 226 $ 13

Segmented Information - Schedul

Segmented Information - Schedule of Non-current Assets and Revenues of Discontinued Operation by Geographical Segment (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Non-current assets
Non-current assets $ 162,776 $ 44,245
Discontinued Operation
Revenue of the discontinued operation
Revenue of the discontinued operation5,348 4,843
Canada
Non-current assets
Non-current assets923 51
United States
Non-current assets
Non-current assets5,000 8,912
United States | Discontinued Operation
Revenue of the discontinued operation
Revenue of the discontinued operation5,348 4,843
Argentina
Non-current assets
Non-current assets $ 156,853 $ 35,282

Supplemental Disclosure with _3

Supplemental Disclosure with Respect to Cash Flows - Supplementary Disclosure of Company's Non Cash Transactions (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Supplemental Information With Respect To Cash Flows [Abstract]
Accounts payable related to property, plant and equipment $ 29 $ 101
Accounts payable related to inventories357 699
Accounts payable related to financings78 73
RSUs and DSUs granted to settle accrued liabilities2,110 1,268
Assets acquired under lease agreements1,197 43
Interest paid $ 3,194 $ 50

Supplemental Disclosure with _4

Supplemental Disclosure with Respect to Cash Flows - Additional Information (Details) $ in Thousands5 Months Ended
Dec. 31, 2019USD ($)
Joint Operations
Supplemental Information With Respect To Cash Flows [Line Items]
Increase in accounts payable related to property, plant and equipment $ 2,457

Income Taxes - Income Tax Recog

Income Taxes - Income Tax Recognized in Profit or Loss (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Major Components Of Tax Expense Income [Abstract]
Withholding taxes accrued $ 1,445 $ 0
Tax expense (recovery) $ 1,445

Income Taxes - Income Tax Rec_2

Income Taxes - Income Tax Recognized in Profit or Loss (Parenthetical) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Major Components Of Tax Expense Income [Abstract]
Withholding taxes accrued $ 1,445 $ 0

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Income Taxes at Canadian Statutory Rates with Reported Taxes (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract]
Income/(Loss) for the year before tax $ 53,110 $ (28,267)
Statutory tax rate27.00%27.00%
Expected income tax expense/(recovery) at statutory tax rate $ 14,340 $ (7,632)
Items not taxable for income tax purposes(369)(1,316)
Gain on dilution of interest in Joint Venture(20,113)
Effect of lower tax rate in foreign jurisdiction1,034 2,021
Withholding tax expense1,445 0
Change in unrecognized deferred tax assets and other5,108 $ 6,927
Tax expense (recovery) $ 1,445

Income Taxes - Summary of Signi

Income Taxes - Summary of Significant Components of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in ThousandsDec. 31, 2019Dec. 31, 2018
Deferred tax assets:
Deferred tax assets $ 34,487 $ 22,198
Deferred tax liabilities:
Deferred tax liabilities(4,019)
Unrecognized deferred tax assets30,468 22,198
Tax Loss Carryforwards
Deferred tax assets:
Deferred tax assets29,308 18,956
Exploration and Evaluation Assets
Deferred tax assets:
Deferred tax assets170 472
Financing Costs
Deferred tax assets:
Deferred tax assets112 436
Capital Assets
Deferred tax assets:
Deferred tax assets1,707 2,203
Deferred tax liabilities:
Deferred tax liabilities(3,749)
Other
Deferred tax assets:
Deferred tax assets3,190 $ 131
Deferred tax liabilities:
Deferred tax liabilities $ (270)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) $ in Thousands, $ in Thousands, $ in Thousands12 Months Ended
Dec. 31, 2019USD ($)Dec. 31, 2019CAD ($)Dec. 31, 2019ARS ($)Dec. 31, 2018USD ($)Dec. 31, 2018CAD ($)
Major Components Of Tax Expense Income Line Item
Non-capital loss carryforwards $ 64,000 $ 61,000 $ 13,000 $ 48,500 $ 44,100
US
Major Components Of Tax Expense Income Line Item
Non-capital loss carryforwards expiration year periodbetween 2027 – 2039
Canada
Major Components Of Tax Expense Income Line Item
Non-capital loss carryforwards expiration year period2029
Argentina
Major Components Of Tax Expense Income Line Item
Non-capital loss carryforwards expiration year periodbetween 2023 – 2024

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) $ in Thousands, $ in Thousands12 Months Ended
Dec. 31, 2019USD ($)Dec. 31, 2019CAD ($)Dec. 31, 2018USD ($)Dec. 31, 2017USD ($)
Disclosure Of Financial Instruments [Line Items]
Cash and cash equivalents $ 83,614 $ 41,604 $ 55,394
Current liabilities $ 14,990 3,361
Percentage of company's share in cash and cash equivalents50.00%
Company's share in cash and cash equivalents $ 52,495
Joint Operation’s cash and cash equivalents104,989
Cash and cash equivalents held in USD $ 30,616
Credit facility denominated in USD83,750
Joint operation borrowings $ 28,845
Foreign exchange rate0.100.10
Foreign exchange gain/(loss) $ (326)3,828
Credit Risk
Disclosure Of Financial Instruments [Line Items]
Cash and cash equivalents83,614 41,604
Current liabilities $ 14,990 $ 3,361
Percentage of company's share in cash and cash equivalents50.00%
Company's share in cash and cash equivalents $ 52,495
Joint Operation’s cash and cash equivalents104,989
Credit Risk | Prepaids and Deposits
Disclosure Of Financial Instruments [Line Items]
Credit sales receivables549
Currency Risk
Disclosure Of Financial Instruments [Line Items]
Foreign exchange gain/(loss) $ 5,313

Financial instruments - Summary

Financial instruments - Summary of Maturities for Financial Liabilities on Undiscounted Basis (Details) $ in ThousandsDec. 31, 2019USD ($)
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total $ 204,764
2020
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total19,113
2021
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total7,093
2022 and Later
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total178,558
Credit Facility
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total123,438
Credit Facility | 2020
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total6,707
Credit Facility | 2021
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total6,693
Credit Facility | 2022 and Later
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total110,038
Joint Operation Borrowings
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total59,761
Joint Operation Borrowings | 2022 and Later
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total59,761
Accounts Payable and Accrued Liabilities
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total11,879
Accounts Payable and Accrued Liabilities | 2020
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total11,879
Obligations Under Office Leases
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total1,010
Obligations Under Office Leases | 2020
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total298
Obligations Under Office Leases | 2021
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total172
Obligations Under Office Leases | 2022 and Later
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total540
Other Obligations
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total8,676
Other Obligations | 2020
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total229
Other Obligations | 2021
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total228
Other Obligations | 2022 and Later
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Financial liabilities on undiscounted basis ,Total $ 8,219

Assets Held for Sale and Disc_3

Assets Held for Sale and Discontinued Operation - Summary of Discontinued Operations within Consolidated Statements of Comprehensive Income/(Loss) and Consolidated Statements of Cash Flows Explanatory (Details) - USD ($) $ / shares in Units, $ in Thousands12 Months Ended
Dec. 31, 2019Dec. 31, 2018
EXPENSES
NET LOSS FROM DISCONTINUED OPERATIONS $ (2,193) $ (14,445)
Organoclay Discontinued Operations
Disclosure Of Analysis Of Single Amount Of Discontinued Operations [Line Items]
Revenue of the discontinued operation5,348 4,843
COST OF SALES
Production costs(5,867)(5,681)
Depreciation(427)(1,119)
Total cost of sales(6,294)(6,800)
GROSS LOSS(946)(1,957)
EXPENSES
Organoclay research and development(281)(578)
Impairment of Organoclay property, plant and equipment and write off of other assets(393)(11,580)
General, administrative and other(573)(330)
Total expenses(1,247)(12,488)
NET LOSS FROM DISCONTINUED OPERATIONS $ (2,193) $ (14,445)
Loss per share - basic $ (0.02) $ (0.16)
Loss per share - diluted $ (0.02) $ (0.16)
Net cash outflow from discontinued operations $ (673) $ (1,251)

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)Aug. 01, 2020Feb. 07, 2020Jan. 01, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2012
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Drawn borrowing facilities $ 66,250,000 $ 17,500,000
Extension of additional non-interest bearing loans1 year
Proceeds of loans to repay $ 20,000,000,000
Minera Exar S.A | JEMSE Arrangement
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Rights granted to acquire equity interest in joint venture, percentage8.50%
Minera Exar S.A | Ganfeng
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Non-interest-bearing loans40,000,000,000
Events after reporting period
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Proceeds of loans to repay $ 20,000,000,000
Events after reporting period | Cauchari-Olaroz | Lithium Americas Holding
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Ownership interest in joint venture49.00%
Events after reporting period | Bottom of Range
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Ownership interest in joint venture50.00%
Events after reporting period | Top of Range | Cauchari-Olaroz
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Ownership interest in joint venture51.00%
Events after reporting period | Ganfeng
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Cash consideration $ 16,000,000
Events after reporting period | Minera Exar S.A | JEMSE Arrangement
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Rights granted to acquire equity interest in joint venture, percentage8.50%
Senior Credit Facility
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Drawn borrowing facilities $ 205,000,000
Senior Credit Facility | Events after reporting period
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Borrowings obtained from drawdown of credit facility $ 12,000,000
Drawn borrowing facilities205,000,000
Limited Recourse Loan Facility | Events after reporting period
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Borrowings obtained from drawdown of credit facility20,000,000
Drawn borrowing facilities100,000,000
Additional drawdowns from credit facility $ 2,200,000