Atalaya Mining Copper S.A. (LON:ATYM) has announced it has acquired 4,500,000 shares of Lara Exploration Ltd. for C$13.5 million.
Lara is listed on the TSX Venture Exchange (TSX-V: LRA) and owns a 100% interest in the Planalto copper-gold project located in the Carajás Mineral Province of northern Brazil.
In October 2025, Lara published the results of an independent Preliminary Economic Assessment (“PEA”) for Planalto that contemplated a conventional open pit mine, flotation processing plant with capacity of 8 Mtpa and estimated production of 560 kt copper and 111 koz gold over a life of mine of 18 years.
The Subscription shares were acquired via private placement at a price of C$3.00 per share and represent approximately 7.3% of Lara’s issued and outstanding shares following completion of the brokered and non-brokered private placements as announced by Lara on 1 April 2026. Lara intends to use the proceeds of the financings to advance Planalto and for general corporate and working capital purposes.
Atalaya is acquiring the Subscription shares for investment purposes.
