LRA to Receive Additional Royalty

Exploration Insights (01/30/2011)
"Lara Exploration will be receiving an additional royalty of $0.75 per ton of fine-grained iron ore mined from the Curionopolis deposit in Brazil. This is in addition to the $1.50 per ton it will get from the granular iron ore produced. This is good news and should bump LRA's income royalty to $2 million this year, increasing next year. The company's partner, Vertical, is completing a bulk sample program on other iron targets and should have a resource calculation by year-end."

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