To cycle the action you just have to push in on the firing pin with your thumb to unlock it - same thing putting the hammer down does, but safer IMO, no chance of the hammer slipping off your thumb and unless you have really strong thumbs there is no chance of you pushing the firing pin hard enough to fire the gun!
These seem to be really rare, I looked for one for several years before getting a blued version - try to find the stainless version, one was sold on GunsAmerica and I heard of one other in stainless. My blued version is a 4 digit number ZL29xx. I have tried to find some production estimates on these but haven't, I asked several 'authorized Tarus dealers' about them and none had even heard of them!
I am thinking $700 might already be considered a bargain price for one of these.
Taurus still has some info on them -
62 LAR blued 62 LAR stainless There is a link for 'user manual' - it's just generic and has nothing specific to the lever actions. It also says to drop the hammer to cycle the action - I don't like doing that at all because of the possibility of the hammer slipping. I have never liked the feel when releasing a fully cocked hammer on a gun with coil springs, they just seem to light at full cock and with some there is almost not pressure as you start releasing & then they just seem to take off. My Browning BLR 22 always makes me a little nervous when I put it on half cock.