LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) Is A Big 2017 Winner

The share price of LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF), the developer of lithium projects in the U.S. and Argentina, is delivering home run returns.We talked about it in our articles called "LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) Climbing Up The Charts" and "LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) Remains A Top Lithium Play". The company’s main project was expected to provide 28.4% after-tax IRR in 3 years and 5 months. We noted that these returns were going to excite the market. As per our first piece, which was published on June 14, 2017, shares could be bought for $0.75 in the market. As of today, September 20, 2017, the stock can be sold for $1.41. That is an 88% return in less than four months; not at all bad.On top of it, the volume, which is a good measure of the market interest in the company, increased as well. More than 3 million shares were exchanged some days. Have a look at it, before we let you know what's new on this name: 1 year chart for LACDFRecent DevelopmentsLet's review the background of the company for those discovering the company here. LACDF, based in British Columbia, Canada, runs lithium projects. The most significant are the Cauchari-Olaroz project in Argentina, and another one in north-western Nevada.In our previous piece, we became much interested in Argentinian project, a 50/50 joint venture signed with SQM POTASIO S.A., a subsidiary of Sociedad Quimica y Minera de Chile S.A. We appreciated that the Argentinian partner was big, as it employed 130 employees and had good contacts. The companies had a meeting on June 29, 2017, with the President of Argentina, Mauricio Macri.Finally, let us remark again the fantastic financial returns that this project is expected to provide. Other authors on Seeking Alpha also noted some of the following financial figures:

• Pre-tax IRR 34.0%
• After-tax IRR 28.4%
• Payback period 3 years, 5 months

What's new?The most significant was the release of the annual report, to which we gained access to on September 19, 2017. The most relevant accounts are the following:

• Cash and cash equivalents: $8.056 million
• Property, plant and equipment: $18.502 million
• Total Assets: $45.301 million
• Accounts payable and accrued liabilities: $1.637 million
• Long-term borrowing: $0.833 million
• Total Liabilities: $2.878

What did we see?As we noted in previous reports, the company keeps showing large amount of cash, many assets, very little liabilities, and little debt. We appreciate these facts.That's not all. We could also see that the company is finally reporting positive revenues for the first time in an annual report; $1.154 million in Organoclay sales. The net income is still not positive, as LACDF is still investing in OPEX and CAPEX.We had a look at another interesting fact that other readers may have overlooked. Effective 2016, the company changed its fiscal year end from September 30 to December 31, so the transitional fiscal year end is for the fifteen-month period from October 1, 2015 to December 31, 2016. This was done to help analysts compare the company with other competitors in the industry.Finally, we need to note that the auditor in charge of preparing the accounts was PricewaterhouseCoopers, which is a well respected firm. It shows that the company is really working to present itself as a trustworthy business entity. We appreciated this fact, as more shareholders will be willing to invest in the company's projects.Other Market Participants We noted previously that other market participants declared big stakes in the company. Thus, we believe that we need to have a look. We were glad to see that they are not selling:HolderSharesDate Reported% OutValueFisher Asset Management, LLC62,000Jun 29, 20170.01%42,160SourceAdditionally, these other participants still hold the same amount of shares:HolderSharesDate Reported% OutValueVanEck Vectors ETF Tr-Rare Earth/Strategic Metals ETF3,502,654May 30, 20170.80%2,451,857Global X Fds-Global X Lithium ETF2,869,349May 30, 20170.66%2,008,544U.S. Global Investors Fund-World Precious Minerals Fund1,750,000Dec 30, 20160.40%1,067,500BlackRock Global SmallCap Fund1,178,423Mar 30, 20170.27%824,896Managed Account Ser-Global Small Cap Port328,890Jan 30, 20170.08%233,511SourceConclusionCurrently trading with a market cap of $426 million, LACDF is an exciting story among small caps. With promising projects, an outstanding balance sheet and big market participants declaring stakes, this company seems poised for success. To sum up, be alert on this name, as it has delivered incredible returns so far and we expect this trend to continue.We will updating out subscribers as soon as we know more. For the latest updates on LACDF, sign up below!For the full story, check out our complete coverage on LACDF.Image courtesy of Greg via FlickrDisclosure: We have no position in LACDF and have not been compensated for this article.