Persistent Cash BurnMaterial negative operating and free cash flow (~-3.2M TTM) is a durable weakness requiring ongoing external funding. Over 2–6 months this elevates dilution and financing risk, constrains the pace of exploration spending, and makes the company dependent on partners or equity raises to sustain operations.
Recurring Losses And Weak Revenue BaseLimited revenue and repeated net losses show the company lacks a stable earnings engine. Structurally, this forces reliance on capital markets or partner transactions to fund activities, increasing execution risk and the potential for slowed project progress if financing terms tighten over the coming months.
Partner Setback (Minsur Option Relinquished)A partner relinquishing an option reduces outside funding and technical support, a structural hit for an explorer dependent on farm-ins. This increases Lara’s need to source new partners, could delay project timelines, and raises the probability of slower asset monetization over the medium term.