08:37 AM EDT, 05/15/2025 (MT Newswires) -- Lithium Americas ( LAC ) said Thursday that its net loss widened in the first quarter.

The company posted a net loss of US$11.5 million, or a loss of US$0.05 per share, compared to the year-ago net loss of US$6.3 million, or a loss of US$0.04 per share. The analyst consensus compiled by FactSet had been for a loss of $0.04 per share.

Lithium Americas ( LAC ) said its net loss increased due to higher general and administrative expenses reflecting continuing transition to domestic filer status, increased reporting obligations under the loan with the US Energy Department, and higher transaction costs linked to increased financing activities that concluded with the Orion Investment.

Operating expenses rose to US$6.5 million from US$5.8 million.

Lithium Americas ( LAC ) is developing the Thacker Pass project in Nevada, with completion of phase one targeted for late 2027. The company said it is evaluating the impact of tariffs on the business.

"The company continues to review its potential exposure to the fluid tariff announcements," said Jonathan Evans, president and CEO of Lithium Americas ( LAC ). "Our teams are working toward limiting the effect of any potential tariff or trade disputes on our construction supply chain."

"Approximately 75% of the company's total capital project cost structure relates to labor, contractors and other services which are not expected to be directly affected by any of the potential tariffs or trade disputes," Evans said.

Lithium Americas' ( LAC ) share price gained 1.9% on Wednesday to $4.32 on the TSX.