The Company has entered into loan agreements with Minera Exar and Exar Capital to fund the construction of Cauchari-Olaroz.

8.

INVESTMENT IN CAUCHARI-OLAROZ PROJECT (continued)

Changes in the loans’ balances are summarized below.


	$
Loans to Exar Capital, as at December 31, 2021		70,856
Remeasurement due to extinguishment of the loans to Exar Capital		54,991
Loans to Exar Capital		79,674
Accrued interest		17,601
Loans to Exar Capital, as at December 31, 2022		223,122
Loans to Exar Capital		64,680
Accrued interest		33,067
Loans to Exar Capital, as at December 31, 2023		320,869

Schedule of Reconciliation of the Summarized Financial Information For Minera Exar and Exar Capital to Carrying Value

The following provides a reconciliation of the summarized financial information for Minera Exar and Exar Capital to carrying value:


	Minera Exar			Exar Capital
	$			$
Net assets, December 31, 2023		244,751			73,724
Company's share of net assets		109,648			36,125
Elimination of capitalized intercompany interest		(96,682	)		-
Expenditures incurred by the Company in connection to the investee		10,490			-
Carrying value		23,456			36,125

Disclosure Of Investments Accounted For Using Equity Method [Line Items]

Schedule of Amounts Presented in Financial Statements of Joint Venture

The following are the amounts presented in the financial statements of Exar Capital on a 100% basis.


	December 31, 2023			December 31, 2022
	$			$
Current assets
Cash and cash equivalents		379			1,180
Restricted cash used as collateral under letters of credit		83,093			15,668
Other current assets		29,299			16,589
Total current assets		112,771			33,437
Non-current assets - loans advanced to Minera Exar		743,841			617,279
Current liabilities - loans from Lithium Argentina and Ganfeng		(775,645	)		(563,652	)
Other current liabilities		(7,243	)		(4,197	)
Net assets		73,724			82,867

Loans from Lithium Argentina and Ganfeng are presented as current liabilities in the financial statements of Exar Capital. In accordance with the terms of the loan agreements, the loans can be called at any time by unanimous agreement of Lithium Argentina and Ganfeng. As at December 31, 2023, loans of $83,930 are due in Q4 2025, $155,699 between 2026 and 2027, $536,016 between 2028 and 2030.


	Years ended December 31,
		2023			2022
	$			$
Interest income on loans from Exar Capital		83,357			58,614
Other income		2,561			-
Interest expense		(80,027	)		(47,057	)
Withholding tax expense		(13,969	)		(7,034	)
General and administrative expenses		(1,064	)		(319	)
Net (loss)/ income		(9,142	)		4,204