Laramide Resources Ltd. (Stock Symbols – ASX: LAM, TSX: LAM, OTCMKTS: LMRXF) explores for and develops uranium projects in Australia and the United States.
The company holds 100% interest in the Church Rock Uranium project, La Jara Uranium project, and the Crownpoint Uranium project all of which are located in New Mexico, United States.
The company’s La Sal Uranium project is located in Utah, United States. The company’s Westmoreland Uranium and Murphy Uranium projects are both located in Australia.
The Church Rock project is located approximately 10 miles from the city of Gallup, New Mexico in McKinley County, and is proposed to be an in-situ recovery (ISR) mine with an inferred resource of just under 51 million pounds.
Initial production is anticipated to be 1 million pounds per year with a $21 – $23 per pound operating cost for production.
Notably, the Church Rock project holds the NRC license for a 3 million pounds per year processing plant.
The company is working toward completion of the preliminary economic analysis (PEA) for Church Rock.
The Crownpoint project is also proposed to be an in-situ recovery mine with another 5.1 million pounds of uranium resource.
La Sal and La Jara Mesa projects are both hard rock projects and the company has permits to conduct bulk sampling.
The La Jara Mesa project notes a mineral resource of 10.4 million pounds of uranium, and the La Sal project notes 2.7 million pounds of contained uranium.
The Westmoreland project in Australia has 36 million pounds of uranium in the indicated category, with another almost 16 million pounds in the inferred for a total of nearly 52 million pounds.
This project plans to be an open cut mine with in-pit disposal of tailings. The company expects to produce on an annual basis around 3.5 million pounds of product.
The anticipated mine life is expected to be greater than 13 and could be more than 15 years with more resource drilling at the site.
The cash costs per pound for the first five years of production average $21 per pound and the life of mine average cash costs are $23 per pound.
The internal rate of return for the Westmoreland project is 45.4% with a payback of 2.5 years post tax.
Laramide Resources Ltd. was incorporated in 1980 and is headquartered in Toronto, Canada.
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