{ "projectionVersion": "smpt-investigation-1", "projectId": "prj-us-thacker-pass-phase1-processing", "corpus": { "revision": "2026-11-03", "legalStatusCutoff": "2026-11-03", "view": "current_corpus_revision", "notice": "Curated corpus revision, not source freshness or historical known-as-of coverage. Financial histories retain their own status dates." }, "project": { "id": "prj-us-thacker-pass-phase1-processing", "name": "Thacker Pass Phase 1 lithium-carbonate processing facilities", "sponsorOrgIds": [ "org-lithium-nevada-llc" ], "locations": [ { "countryCode": "US", "subnational": "Nevada", "asStated": "Thacker Pass, Humboldt County, Nevada" } ], "stages": [ "processing" ], "materialIds": [ "lithium" ], "materialAttribution": "tracked_only", "untrackedMaterialsAsStated": [], "evidence": [ { "sourceId": "src-doe-thacker-pass-2024", "supports": [ "name", "sponsors", "location", "stages", "materials" ], "evidence": "explicit", "locator": "Project summary and project statistics", "note": "DOE names Lithium Nevada Corp. and describes lithium-carbonate processing facilities at Thacker Pass." }, { "sourceId": "src-doe-thacker-pass-nepa-2024", "supports": [ "name", "location", "stages", "materials" ], "evidence": "explicit", "locator": "Summary: subject of DOE loan is mine processing facilities and associated infrastructure, not development and operation of open-pit mine", "note": "Determines funded physical scope, narrower than the full Thacker Pass mine development." }, { "sourceId": "src-sec-lac-thacker-q2-2026", "supports": [ "sponsors", "location", "stages", "materials" ], "evidence": "explicit", "locator": "MD&A, Thacker Pass overview and Q2 construction highlights", "note": "Lithium Nevada LLC owns Thacker Pass through the joint venture; its parent group describes active construction of Phase 1 processing plant and associated infrastructure." } ], "notes": "This registry project represents the DOE-loan-financed Phase 1 lithium processing plant, sulfuric-acid facility and related infrastructure, not the open-pit mine development. The wider Thacker Pass mine/JV is not automatically allocated the DOE $2.23B facility. June 2026 SEC report evidences ongoing construction, not commissioning or operational lithium carbonate production." }, "organizations": [ { "id": "org-lithium-nevada-llc", "name": "Lithium Nevada LLC", "nameOriginal": null, "aliases": [ "Lithium Nevada Corp.", "Lithium Nevada Corporation", "LN" ], "kind": "company", "roles": [ { "role": "registered_sponsor", "recordId": "prj-us-thacker-pass-phase1-processing" }, { "role": "recipient", "recordId": "fin-us-doe-thacker-pass-atvm-2024" } ], "evidence": [ { "sourceId": "src-sec-lac-thacker-amendment-2025", "supports": [ "name", "kind", "country" ], "evidence": "explicit", "locator": "Opening paragraph, Borrower identity: LITHIUM NEVADA LLC (formerly known as Lithium Nevada Corp.), a Nevada LLC", "note": "The 2025 amendment establishes legal continuity with the original 2024 corporation borrower rather than two separate financing recipients." }, { "sourceId": "src-sec-lac-thacker-loan-agreement-2024", "supports": [ "name", "kind", "country" ], "evidence": "explicit", "locator": "Cover and preamble: LITHIUM NEVADA CORP. as borrower, Nevada corporation", "note": "Original 2024 legal borrower; later legal form/name evidenced by the 2025 amendment." } ] }, { "id": "org-us-doe", "name": "U.S. Department of Energy", "nameOriginal": null, "aliases": [ "DOE", "Department of Energy" ], "kind": "government", "roles": [ { "role": "provider", "recordId": "fin-us-doe-thacker-pass-atvm-2024" } ], "evidence": [ { "sourceId": "src-doe-thacker-pass-2024", "supports": [ "name", "kind", "country", "actor" ], "evidence": "explicit", "locator": "U.S. Department of Energy, Loan Programs Office project summary", "note": "Federal department administering the ATVM loan; financing structure also uses the Federal Financing Bank. Bank mechanics do not create a duplicate commitment." } ] } ], "financialInstruments": [ { "id": "fin-us-doe-thacker-pass-atvm-2024", "eventId": "evt-us-doe-thacker-pass-loan-2024", "instrument": "loan", "valueRole": "commitment", "capitalSource": "public", "projectRelationship": "directly_attributable", "projectId": "prj-us-thacker-pass-phase1-processing", "associatedProjectIds": [], "amount": { "value": "2230000000", "currency": "USD", "qualifier": "approximately", "amountAsStated": "$2.23 billion amended expected loan amount ($1.97 billion principal plus approximately $256 million capitalized interest)", "currencyBasis": "stated", "basisNote": null, "basisLabel": null }, "amountBasis": "current_recorded_terms_not_historical_totals", "provider": "U.S. Department of Energy, ATVM Loan Program (Federal Financing Bank lending arrangements)", "providerJurisdiction": "us", "providerOrgIds": [ "org-us-doe" ], "recipient": "Lithium Nevada LLC (formerly Lithium Nevada Corp.)", "recipientOrgIds": [ "org-lithium-nevada-llc" ], "programmeId": null, "legalAuthority": "Energy Independence and Security Act of 2007 — Advanced Technology Vehicles Manufacturing (ATVM) Loan Program", "facility": "Thacker Pass Phase 1 processing plant and associated infrastructure", "locations": [ { "countryCode": "US", "subnational": "Nevada", "asStated": "Thacker Pass, Humboldt County, Nevada" } ], "materialIds": [ "lithium" ], "stages": [ "processing" ], "currentFinancialStatus": "partially_disbursed", "financialStatusHistory": [ { "status": "contracted", "date": "2024-10-28", "sourceId": "src-sec-lac-thacker-loan-agreement-2024", "note": "Executed ATVM Loan Arrangement and Reimbursement Agreement No. A1034 on 28 October 2024, originally naming Lithium Nevada Corp. Original approx. $2.26B face amount was later revised; no draw inferred from closing." }, { "status": "partially_disbursed", "date": "2025-10-20", "sourceId": "src-sec-lac-thacker-q2-2026", "note": "First $435M DOE-loan advance received on 20 October 2025. Issuer's 2026 Q2 filing confirms subsequent draws of $432M (24 February 2026) and $342M (3 June 2026), totaling $1.209B advanced by 30 June 2026. These are draws under the same facility, not additive commitments." } ], "legacyPhysicalObservations": [ { "status": "construction", "date": "2026-06-30", "sourceId": "src-sec-lac-thacker-q2-2026", "note": "Issuer's quarter-ended 30 June 2026 report confirms active major construction of Thacker Pass Phase 1 processing plant, $1.6217B cumulative Phase 1 construction costs within the technical-report capital-expenditure estimate and targeting late-2027 mechanical completion. No commissioning or operating output is evidenced." } ], "terms": [], "statedOutcomes": [], "relationships": [], "evidence": [ { "sourceId": "src-doe-thacker-pass-2024", "supports": [ "instrument", "value_role", "capital_source", "amount", "provider", "recipient", "project", "facility", "location", "stages", "materials" ], "evidence": "explicit", "locator": "Project summary; Financial summary and Loan type", "note": "DOE October 2024 baseline is about $2.26B including capitalized interest. The bank project page has not been updated for the Oct 2025 amendment and is not used as the current amount." }, { "sourceId": "src-doe-thacker-pass-nepa-2024", "supports": [ "legal_authority", "project", "facility", "location", "stages", "materials" ], "evidence": "explicit", "locator": "DOE/EIS-0561 Summary; loan restricted to processing facilities and associated infrastructure, not open-pit mine", "note": "Constrains funded project and single-stage processing attribution." }, { "sourceId": "src-sec-lac-thacker-loan-agreement-2024", "supports": [ "instrument", "value_role", "capital_source", "provider", "legal_authority", "recipient", "project", "status" ], "evidence": "explicit", "locator": "Cover, Preliminary Statements, and agreement parties; 28 October 2024", "note": "Legal contract names DOE and Lithium Nevada Corp. borrower. Contract scope is executed loan arrangement with Federal Financing Bank advance mechanics." }, { "sourceId": "src-sec-lac-thacker-amendment-2025", "supports": [ "provider", "recipient", "status" ], "evidence": "explicit", "locator": "Opening paragraph: Lithium Nevada LLC (formerly Lithium Nevada Corp.) as Borrower; 7 October 2025 OWCA", "note": "This is an amendment to the 2024 loan, not a separate second loan; corporate name continuity is express." }, { "sourceId": "src-sec-lac-thacker-q2-2026", "supports": [ "amount", "recipient", "project", "facility", "location", "stages", "materials", "status" ], "evidence": "explicit", "locator": "Note 4 — Department of Energy Loan Facility; MD&A pp. 23–28 and 'Borrowings under the DOE ATVM Loan Program'", "note": "Issuer states October 2025 amended expected facility $2.23B and the dates/amounts of all three advances; separately verifies ongoing Phase 1 processing-plant construction." }, { "sourceId": "src-sec-lac-doe-amendment-announcement-2025-10-07", "supports": [ "amount", "status" ], "evidence": "explicit", "locator": "Form 8-K Item 1.01 and Exhibit 99.1", "note": "Source establishes signed conditional amendment and approximately $2.23B proposed revised total, not October 7 effectiveness." } ], "notes": "Single DOE ATVM/FFB loan, No. A1034. The original 28 October 2024 closing was approximately $2.26B ($1.97B principal plus an estimated $289.6–$289.7M capitalized interest); the 7 October 2025 amendment reduced estimated interest to $256M, making the amended total approximately $2.23B. These are versions of the same facility, not two commitments; the current amount is approximate ($1.97B + $256M = $2.226B before rounding). The schema holds a current amount and financial-status history, not historically versioned amounts: an as-of 2024 report must not present $2.23B as the contemporaneous 2024 face amount. Cumulative advances were $435M on 2025-10-20, $867M after 2026-02-24, and $1.209B after 2026-06-03; the $1.209B is not additional finance and is different from the $988.018M accounting carrying value after deferred issuance costs/interest. Original legal borrower Lithium Nevada Corp. is now Lithium Nevada LLC, distinct from its Canadian-listed sponsor Lithium Americas Corp. DOE loan supports lithium-carbonate processing infrastructure (including a sulfuric-acid plant), not open-pit mine development. Q2 2026 supports construction only; no operational production. DOE's 2025 equity warrants, GM equity and private financing are not classified as draws or additional DOE commitments. F4-A amount-history pilot retains original ~$2.26B effective from 2024-10-28. The ~$2.23B amendment was signed on 2025-10-07 subject to conditions and is proven effective no later than first advance on 2025-10-20; the precise transition date within October 7–19 is not evidenced. This is not a draw-history or historical aggregate." } ], "nonallocativeAssociations": [], "designations": [], "nativeMilestones": [], "policyContexts": [ { "id": "evt-us-doe-thacker-pass-loan-2024", "relationship": "finance_or_designation_parent", "jurisdiction": "us", "issuingBody": "U.S. Department of Energy, Loan Programs Office", "titleEn": "DOE closes ATVM loan for Thacker Pass lithium processing facilities", "titleOriginal": "DOE closes Advanced Technology Vehicles Manufacturing loan for Thacker Pass Phase 1 processing facilities", "documentNumber": "DOE ATVM Loan No. A1034", "date": "2024-10-28", "policyStatus": "active", "sourceIds": [ "src-doe-thacker-pass-2024", "src-doe-thacker-pass-nepa-2024", "src-sec-lac-thacker-loan-agreement-2024", "src-sec-lac-thacker-amendment-2025", "src-sec-lac-thacker-q2-2026" ] } ], "coannouncedControls": [], "financePackageReferences": [], "unknowns": [ "No project-native source-reviewed industrial milestone is published. Attributed activity in financing histories remains a separate evidence class; no exact milestone date or facility-wide conclusion is inferred.", "Structural links and shared materials do not demonstrate that a government measure caused an industrial outcome." ], "sources": [ { "id": "src-doe-thacker-pass-2024", "title": "Thacker Pass — DOE Loan Programs Office project and financial summary", "publisher": "U.S. Department of Energy, Loan Programs Office", "url": "https://www.energy.gov/edf/thacker-pass", "language": "en", "sourceType": "official", "confidence": "primary", "publishedOn": null, "accessedOn": "2026-10-08" }, { "id": "src-doe-thacker-pass-nepa-2024", "title": "EIS-0561 Thacker Pass loan: DOE processing-facility-only scope and 28 October 2024 decision", "publisher": "U.S. Department of Energy", "url": "https://www.energy.gov/nepa/doeeis-0561-thacker-pass-lithium-mine-project", "language": "en", "sourceType": "official", "confidence": "primary", "publishedOn": "2024-10-28", "accessedOn": "2026-10-08" }, { "id": "src-sec-lac-doe-amendment-announcement-2025-10-07", "title": "Lithium Americas Form 8-K — 7 October 2025 DOE amendment subject to conditions", "publisher": "Lithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)", "url": "https://www.sec.gov/Archives/edgar/data/1966983/000119312525233937/d10878d8k.htm", "language": "en", "sourceType": "other", "confidence": "primary", "publishedOn": "2025-10-08", "accessedOn": "2026-10-08" }, { "id": "src-sec-lac-thacker-amendment-2025", "title": "Lithium Americas, Exhibit 10.1 — 7 October 2025 omnibus DOE loan amendment", "publisher": "Lithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)", "url": "https://www.sec.gov/Archives/edgar/data/1966983/000119312526115081/lac-ex10_1.htm", "language": "en", "sourceType": "other", "confidence": "primary", "publishedOn": null, "accessedOn": "2026-10-08" }, { "id": "src-sec-lac-thacker-loan-agreement-2024", "title": "Lithium Americas, Exhibit 10.11 — 28 October 2024 ATVM Loan Arrangement and Reimbursement Agreement", "publisher": "Lithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)", "url": "https://www.sec.gov/Archives/edgar/data/1966983/000095017025046424/lac-ex10_11.htm", "language": "en", "sourceType": "other", "confidence": "primary", "publishedOn": null, "accessedOn": "2026-10-08" }, { "id": "src-sec-lac-thacker-q2-2026", "title": "Lithium Americas Corp., Form 10-Q for the quarter ended 30 June 2026", "publisher": "Lithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)", "url": "https://www.sec.gov/Archives/edgar/data/1966983/000119312526347826/lac-20260630.htm", "language": "en", "sourceType": "other", "confidence": "primary", "publishedOn": "2026-08-13", "accessedOn": "2026-10-08" } ], "limitations": [ "Policy contexts here parent existing finance or designation records; a shared material or date never creates a causal edge.", "Coannounced controls are announcement siblings only, not project-specific restrictions or effects.", "Direct project attribution and nonallocative association are different. No individual monetary allocation, financial sum or payment conclusion is authorized.", "Financing statuses describe the current corpus revision. Legacy implementation observations require scoped review and are not project-native milestones.", "A milestone's event/target date, publication/access horizon and reviewer date are separate. A planned target is not automatically occurred.", "An absent reviewed milestone means no approved entry in SMPT, not that the facility is inactive or failed.", "Amounts retain current source-stated terms, original currency and exact decimal strings. This packet computes no historical financial totals or project-wide monetary allocation.", "Published source review does not establish independent on-site verification. Source, financial-status, occurrence, target and review dates remain distinct." ] }