Laramide
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
The Exchange Tower 130 King Street West PO Box 99, Suite 3680 Toronto, Ontario Canada M5X 1B1 |
| Tel No.： | 416-599-7363 |
| Toll Free No.： | 1-855-599-7363 |
| Web Site： | www.laramide.com |
| E-mail： | ann@laramide.com |
| Contact Person： | Ann Baines |
| Position： | Director, Investor Relations |
| Traded Market： | TSX | ASX | OTCQX |
| Traded Symbol： | LAM | LAM | LMRXF |
| Outstanding Shares： | ~248.97 Million |
| 52 Week High： | $ 0.92 |
| 52 Week Low： | $ 0.405 |
| Present Price： | Click Here |
Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions. The Company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size, production potential, and the two large development projects are considered to be late-stage, low-technical risk projects. As well, Laramide has expanded its pipeline with strategic exploration in Kazakhstan where the Company is exploring over 5,500 sq. km of the prolific Chu-Sarysu Basin for world class roll-front deposits which are amenable to in-situ recovery.
Late-stage, low technical-risk assets acquired for their size and production potential
- Uranium supply deficit here to stay for foreseeable future
- 117 million pounds uranium resources across five projects
- Two flagship Projects: In Situ Recovery (ISR) in New Mexico and Open-pit in Australia
- Resource Growth Potential from Exploration in Australia
- Strategic Exploration Option in Kazakhstan
USA Projects
Portfolio includes In Situ Recovery (ISR) and Hard Rock Assets in Historically Significant Grants Mineral Belt, New Mexico; as well as a satellite asset in Utah.
Churchrock-Crownpoint, New Mexico
A High-Quality, Late-Stage ISR Uranium Asset
Mineral Resource defined 50.82 M lbs. (Inferred)
Sediment-hosted, roll-front amenable to ISR mining
The Nuclear Regulatory Commission (NRC) has granted a license for production of uranium from sections of the Churchrock Project and the Crownpoint Project. Currently in timely renewal status.
In addition, the NRC has approved the construction of a Central Processing Plant (“CPP”) at Crownpoint property.
One final State permit is required relating to restoration and remediation activities. This was necessitated by a change in the New Mexico policy in 2015.
The Department of Energy awarded LAM a grant to fund a joint research project with the Los Alamos National Laboratory relating to groundwater restoration technology to facilitate this permit.
Churchrock
Completion of a NI 43-101 Preliminary Economic Assessment (PEA) in January 2024 confirmed potential for long-life, low-cost In Situ Recovery uranium operation with staged production from multiple well-fields, with 31.2 million pounds produced over 31 years.
Potential for accelerated development of the resource beyond 1MLb/annum straight line case outlined in the PEA (existing license allows for a 3MLb/annum capacity at planned CPP (Central Processing Plant).
Potential for enhanced recoveries (PEA assumes recovery of 68% of the resource in the production area) or expansion of the current resource through infill and exploration drilling.
Inclusion of Crownpoint mineral resource (5.1MLbs, inferred) and other neighbouring projects under the NRC license for future production planning.
La Jara Mesa Project, Ambrosia Lake District, Grants, New Mexico
Environmental Impact Statement (EIS) Process Underway
156 unpatented mining claims over 2680 acres located in Cibola County, Grants, New Mexico acquired from Barrick Gold (successor to Homestake Mining).
7.3 MLbs (M&I) and 3.2 MLbs (Inferred).
Agreement signed with the Forest Services to fund the services required to restart the U.S. Forest Services (USFS) National Environmental Policy Act (NEPA) analysis towards the EIS (TSX News Release 19/01/2024).
With spot U prices >$80/lb, trucking and custom milling options become potentially feasible.
La Sal Project, Lisbon Valley, Utah
Located in Lisbon Valley Uranium District, ~60 km from Energy Fuels’ White Mesa Mill.
Small scale underground project
Previous owner, Homestake Mining Company developed a 3,800-foot decline and installed a ventilation raise in the early 1980s, but no production then occurred due to depressed uranium prices which resulted in Homestake closing and reclaiming the site.
Production from the development totaled 46,610 tons at a grade of 0.282% eU3O8 containing 262,880 pounds e U3O8. Most of the ore was processed at the Rio Algum (alkaline leach) mill with recoveries at 89%. A limited tonnage was processed at Energy Fuels, White Mesa Acid Leach Mill with recoveries at 95%.
Australia Projects
Westmoreland Uranium Project, Queensland, Australia
The Westmoreland Project is one of the largest uranium development assets held by a junior mining company. This project has a Preliminary Economic Assessment (PEA) that describes an economically robust, open-pit mining project with a mine life of 13 years. Additionally, the adjacent Murphy Project in the Northern Territory of Australia is a greenfield asset that Laramide strategically acquired to control the majority of the mineralized system along the Westmoreland trend.
Project includes district scale exploration potential across Queensland and Northern Territory
Tenure applications in place to control the prospective geological domains
- Preliminary Economic Assessment (PEA) Completed in 2016
- Provides a Strong Economic Base Case for a Conventional Mine Plan
- Tier 1 mine: low-risk, lowest quartile cost, conventional operation
- Shallow, flat-flying deposit
2016 PEA Highlights:
Indicated: 36.0 M lbs U3O8 @ 0.09%
Inferred: 15.9 M lbs U3O8 @ 0.08%
Operating Costs (2016) US$23.30/lb.; Capex (2016) US$316M
Post tax IRR 35.8% and NPV US$400M at US$65/lb U3O8
2024 Exploration Work
- 11,000 meters completed; 106 holes
- New Exploration Permit Granted for 32,700 hectares
- Westmoreland Mineral Resource Growth:
- Redtree, Huarabagoo, Junnagunna, Long Pocket Targeting minimum 20-25% increase through aggressive multi-rig drilling program.
- Updated Westmoreland Mineral Resource Estimate which will include a Maiden Resource Estimate for Long Pocket due in early 2025.
- Murphy Project in Northern Territory: Mageera, Southern Comfort, Crystal Hill Highlight from 2006-2007:
- 4m @ 0.42% U3O8
Laramide's 2024 drill program continues to return strong results at the Westmoreland Project
Highlights:
- Huarabagoo continues to deliver broad, consistent mineralisation including:
- HB24DD011 – 5m @ 2,053 ppm (0.21%) U3O8 and 0.58 g/t Au,
- including 3.7m @2,751 ppm (0.28%) U3O8 and 0.81 g/t Au
- HB24DD013 – 12m @ 1,694 ppm (0.17%) U3O8,
- including 5.0m @ 3,235 ppm (0.32%) U3O8
- HB24DD014 – 17m @ 764 ppm (0.08%) U3O8,
- including 9m @ 1,247 ppm (0.12%) U3O8
- and 3m @ 5,286 ppm (0.53%) U3O8 and 0.62 g/t Au,
- HB24DD015 – 22m @ 871 ppm (0.09%) U3O8,
- including 5m @ 2,050 ppm (0.25%) U3O8
- HB24DD015 – 19m @ 965 ppm (0.1%) U3O8,
- including 6m @ 2,622 ppm (0.26%) U3O8
- Results continue to demonstrate the potential to link the Huarabagoo and Junnagunna uranium deposits:
- HJ24RC014 – 15m @ 267 ppm (0.03%) U3O8,
- including 1m @ 1,068 ppm (0.11%) U3O8
- and 1m @ 2,128 ppm (0.21%) U3O8
(See news release dated January 16, 2025)
Kazakhstan Exploration 2024
Chu-Sarysu Project
- Option to acquire Aral Resources, a Kazakh corporation with 22 subsoil use mineral licenses for approximately 5,500 sq. km comprising the Chu-Sarysu Project, located in the prolific Suzak District of the South Kazakhstan.
- Proximal to some of Kazataprom's largest uranium deposits and operational mines.
- The Chu-Sarysu Project area includes a number of paleo-channel roll-fronts, associated with uranium deposits and are amenable to ISR mining.
- To promote foreign investment, in 2018 Kazakhstan revamped its Mining Code to follow western standards which involved a revision of subsoil and subsoil use licencing and provisions.
- Laramide to operate and fund exploration program towards discovery of a viable uranium resource.
- Work underway to acquire historical data from Kazakhstan’s state National Geological Services which includes Soviet-era data.
- Initial exploration activities will focus on ground reconnaissance and airborne geophysical surveying.
Management and Directors
Marc Henderson, President & Chief Executive Officer, Director
Mr. Henderson has been Laramide’s President and CEO since 1995. He has more than 25 years of experience operating successful public mineral exploration companies. He is a Chartered Financial Analyst and serial entrepreneur including former President and CEO of Aquiline Resources Inc., and former President of MineFinders.
Dennis Gibson, Chief Financial Officer (CPA, CGA)
Mr. Gibson has been Laramide’s CFO since 2006. He has held senior financial positions for past 30 years, including with Aquiline Resources Inc., Treasury Metals and Forrester Metals.
Rhys Davies, Vice President of Exploration (MGeol, MSc, MAIG, RPGeo, FGS)
Mr. Davies is a geologist with 18 years diverse commodity experience in mineral exploration across Australia, Europe, Middle East, North Africa and North America.
Josh Leftwich, Vice President of Operations & Strategic Development, U.S.
Mr. Leftwich’s career includes Cameco, where he was a key senior manager in charge of operational compliance and oversight of 3 mine operations and 7 development projects.
Lloyd Jones, General Manager, Australia
Mr. Jones has more than 30 years experience working within the private and government sectors. He leads Australian subsidiaries, strategic development and project deployment in Queensland and the Northern Territory.
John Booth, Non-Executive Chairman
Mr. Booth is a qualified lawyer with over 25 years experience as banker, broker and fund manager in global capital markets. Mr. Booth previously worked for firms including Merrill Lynch International, ICAP, CEDEF, ABN AMRO Bank, World Bank and Climate Change Capital.
Jacqueline Allison, Independent Director
Raffi Babikian, Independent Director
John Mays, Independent Director
On February 28, 2025, Laramide Resources Ltd., an uranium mine development and exploration company with a portfolio of globally significant projects, provided an updated Mineral Resource Estimate ("MRE") for the Westmoreland Project in northwest Queensland Australia ("Westmoreland").
The updated Mineral Resource Estimate represents a 34% increase in Indicated Resources and an 11% increase in Inferred Resources, compared to the 2009 estimate. The updated MRE now reports Total Indicated Resource of 48.1 million pounds of U3O8 and Total Inferred 17.7 million pounds across four deposits: Redtree, Huarabagoo, Junnagunna and Long Pocket.
Laramide President and CEO Marc Henderson commented:
"This updated MRE reiterates our long-held view that Westmoreland is a genuinely world class deposit. At 65-plus million pounds it ranks as one of the largest undeveloped uranium deposits in the world and has the potential to be a top 10 global uranium mine. It has demonstrable attributes that support a long-life mining operation that could support ongoing jobs and regional development in North-West Queensland while providing the world with the raw materials required for the burgeoning Nuclear Power industry and drive towards Net Zero. Moreover, we have identified extensions to mineralisation and targets in the mineral system so have a clear line of sight to adding yet more pounds.
"Building on a few years of significant effort and work, this update is a credit to our Australian Exploration team and all contractors involved.
"Pending the support of the new Liberal Queensland Government, we will look forward to quickly transitioning the Project to a Development Phase while concurrently continuing with high-impact exploration to further grow the resource base."
On February 21, 2025, Laramide Resources Ltd., a uranium mine development and exploration company with globally significant projects in the United States, Australia and Kazakhstan, is pleased to report a summary of the 2024 drilling campaign completed at the Westmoreland Uranium Project in Queensland, Australia ("Westmoreland"). The 2024 drill program has concluded with successful results confirming the high-quality of the Westmoreland uranium deposit and supporting a Global Mineral Resource Estimate Update expected by the end of Q1 2025.
The 2024 Drill program was designed to improve the Westmoreland Mineral Resource through extensional and infill drilling of uranium mineralisation and to gain a deeper understanding of the potential for gold mineralisation within the system. As well, following up on Laramide's past campaigns, targets were identified to explore satellite uranium deposits with long-term outlook for sustained project growth. And finally, to advance on-ground access logistics and targeting within the Murphy Project in the Northern Territory.
Commenting on the results, Laramide's Vice-President of Exploration Rhys Davies said: "The 2024 Drill Campaign represents Laramide's most ambitious effort to date, with 106 holes for over 11,000 metres drilled across the Westmoreland Project. This aggressive approach was designed to demonstrate the scalability and quality of the Westmoreland asset, reinforcing our commitment to advancing to its full potential."
January 16, 2025, Laramide releases further assay results from successful 2024 drill campaign at Westmoreland Project, Queensland, Australia
- Huarabagoo continues to deliver broad, consistent mineralisation
- Results continue to demonstrate the potential to link the Huarabagoo and Junnagunna uranium deposits:
December 9, 2024, Laramide's 2024 Drill Program Continues to Return Strong Results at the Westmoreland Project in Queensland, Australia, including Notable Gold Mineralisation.
- Results continue to demonstrate the potential to link the Huarabagoo and Junnagunna uranium deposits
- Broad zones of gold mineralisation were also intercepted with grades up to 24.2g/t Au
- New Exploration Permit (EPM 28807) granted adjacent to Westmoreland Project adding 327 sq. km of highly prospective tenure in NW Queensland
December 6, 2024, Laramide Resources Closes Option Agreement on Exploration Opportunity in Kazakhstan's Prolific Chu-Sarysu Basin