Atalaya Mining takes stake in Canada's Lara Exploration for CAD $13.5m

(Sharecast News) - Atalaya Mining on Thursday said it had bought a 7.3% stake in Canada's Lara Exploration for CAD $13.5m through a private placing. Toronto-listed Lara owns a 100% interest in the Planalto copper-gold project located in the Carajás Mineral Province of northern Brazil. The miner raised CAD $33.75m via brokered and non-brokered share offerings.

In October 2025, an independent economic assessment 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 cash will be used to fund advancement of Planalto and bolster corporate liquidity, Lara said in a regulatory filing.



Reporting by Frank Prenesti for Sharecast.com

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