Investment in Lara Exploration Ltd.
Atalaya acquires 4.5 million shares in Lara Exploration for C$13.5 million, giving 7.3% stake.
- Investment amount C$13.5 million
- Shares acquired 4,500,000
- Stake in Lara 7.3%
- Price per share C$3.00
- Planalto estimated annual copper production 560 kt over 18-year mine life
- Planalto estimated annual gold production 111 koz over 18-year mine life
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Atalaya Mining (LSE: ATYM) is pleased to announce it has acquired 4,500,000 shares of Lara Exploration Ltd. ("Lara") for C$13.5 million (the "Subscription").
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.
About Atalaya Mining Copper, S.A.
Atalaya's operations include the Cerro Colorado open pit mine and a modern 15 Mtpa processing plant, which has the potential to become a central processing hub for ore sourced from its wholly owned regional projects around Riotinto, such as Proyecto Masa Valverde and Proyecto Riotinto East. In addition, Atalaya has a phased earn-in agreement for up to 80% ownership of Cobre San Rafael S.L., which fully owns the Proyecto Touro brownfield copper project in the northwest of Spain, as well as a 99.9% interest in Proyecto Ossa Morena. For further information, please visit www.atalayamining.com
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.