Developing Brazil’s Next Copper Mine with Lara Exploration CEO Simon Ingram
Bill Powers interviews Sponsor Lara Exploration (TSXV:LRA – OTC:LRAXF) President and CEO Simon Ingram, highlighting Ingram’s prior success leading Reservoir Minerals from $0.65 to $9.40 per share and creating roughly US$500 million in shareholder value at the time of the buyout by Nevsun Resources. Ingram recounts Reservoir’s Serbia discovery—described as the world’s 13th largest copper discovery since 1990—and notes the resulting mine now generates about 2% of Serbia’s GDP.
Ingram explains Lara Exploration is applying the same model and team while transitioning from prospect generator to developer through its 100%-owned flagship Planalto copper-gold project in Brazil. The 2025 PEA outlines an open-pit project producing about 36,000 tonnes of copper per year and processing about 8 million tonnes of ore, with estimated capex around $550 million. Using a $13,000/ton copper price, Ingram says the project value is about $1.2 billion at today’s spot prices.
The discussion covers Lara’s valuation gap versus its market cap (~US$100–110 million), plans to de-risk via infill drilling and advancing to pre-feasibility, and exploration upside from a newly acquired contiguous license (Atlantica) with a 3 km strike extension toward the high-grade Silica Cap area. Ingram emphasizes Brazil’s infrastructure and permitting advantages in its operating region, including nearby major mines, access to low-cost power lines crossing the project, proximity to highways, a skilled mining workforce, and a government royalty structure where a significant portion returns to local municipalities.
Powers and Ingram also discuss capital efficiency and shareholder alignment: ~50 million shares outstanding (about 53 million fully diluted), no warrants, ~2.7 million incentive options, management owning ~20%, and G&A under about C$1 million.
00:00 From 65¢ to $9.40: Reservoir Minerals’ Serbian success story
01:29 Prospect Generator 101: Partnering to reduce exploration risk
03:32 Lara Exploration’s flagship Planalto project Brazil: PEA, scale, and copper price leverage
06:00 De-risking plan: Pre-feasibility, infill drilling, and high-grade upside
06:41 Return on capital & timing the copper cycle (why now matters)
08:18 Jurisdiction & infrastructure: Why this Brazil project can get built
09:05 Portfolio, royalties, and capital discipline (50M shares, no rollbacks)
12:55 Team edge: Technical background, copper scarcity, and demand drivers
14:40 How the project stacks up: peers, capex, metallurgy, and simple processing
25:29 PEA rigor: Cost levers, power pricing, and engineering due diligence
28:24 Near-term catalysts & funding options: New license drilling and next steps
31:55 Wrap-up, tickers
