Laramide Resources Ltd Engages In Uranium Exploration & Development
Laramide Resources Ltd. (Stock Tickers – ASX: LAM, TSX: LAM, OTCMKTS: LMRXF) is a Canadian based exploration and development company. The company has a diversified mix of uranium projects in Australia and the United States.
Uranium Assets and Projects
Laramide Resources Ltd. holds 100% interest in multiple diversified uranium assets including the Church Rock and Crownpoint uranium projects in New Mexico, United States; La Sal project in San Juan County, Utah; La Jara Mesa uranium project in Cibola County, New Mexico; Westmoreland uranium project in Queensland, Australia; Murphy uranium project in the northern territory, AU.
Church Rock Project – ISR Mine
The Laramide Resources Church Rock Uranium Project and nearby properties represent a major uranium mining opportunity. The Churchrock Project is located on the western end of the Grants Mineral Belt in the main portion of the historic Churchrock Mining District, approximately 10 miles north-northeast of Gallup, New Mexico.
This district has a long history of uranium production and is home to some of the largest and highest grade undeveloped ISR uranium deposits in North America. If developed, the Churchrock Project could become one of the most important uranium mines in the USA.
The project has an Inferred Resource Estimate of 33.9 million tons at an average grade of 0.075% eU3O8 for a contained resource of 50.8 million pounds.
Initial production is anticipated to be 1 million pounds per year with a $21 – $23 cash per pound operating cost for production.
Notably, the Church Rock project holds the NRC license for a 3 million pounds per year processing plant.
Laramide Resources is working toward completion of the preliminary economic analysis (PEA) for this 100% owned Church Rock project.
Crownpoint Project – ISR Mine
The Crownpoint uranium project is also proposed to be an in-situ recovery mine with another 5.1 million pounds of uranium resource.
Laramide’s Crownpoint Project is located 25 miles from Churchrock Project and part of Laramide’s ISR division in New Mexico, United States.
The Crownpoint Project area includes an NRC permit for a 3 million pounds (U3O8) per annum Central Processing Plant to process uranium produced from Laramide’s NM projects.
While the permit to build the facility has been granted, a mining study has not been filed to support the technical feasibility or economic viability of the Central Processing Plant.
This project has an Inferred Resource Estimate of 2.5 million tons at an average grade of 0.102% eU3O8 for a contained resource of 5.1 million pounds U3O8. The project is 100% company owned.
La Sal Uranium Project – Underground Mine
The Laramide Resources 100% owned La Sal project is located in Utah, United States.
The La Sal Project is a sandstone-hosted uranium deposit located in close proximity to Energy Fuels’ White Mesa Mill in Blanding, Utah. The mill is one of only 4 permitted mills in the United States, and is located approximately 60 miles from the La Sal Project.
The commencement of the bulk sample program at La Sal will provide valuable information on the deposit’s characteristics and help Laramide assess its potential to become a future producer of uranium.
La Jara Mesa Project – Underground Mine
The uranium deposit at the site contains 7.2 million pounds of uranium, which is contained in 1.4 million tonnes at an average grade of 0.23% U3O8. In addition, there is an additional 3.1 million pounds of uranium at an average grade of 0.20% U3O8 classified as Inferred Mineral Resources.
Environmental Impact Statement
The Forest Service has released a draft Environmental Impact Statement for La Jara Mesa, which means that Laramide will continue with the National Environmental Policy Act review process. This will ultimately lead to the completion of the final Environmental Impact Statement (EIS). The project is also 100% company owned.
Westmoreland Uranium Project – Open Cut Mine
The 100% owned Westmoreland uranium project in Australia has 36 million pounds of uranium in the indicated category, with another almost 16 million pounds in the inferred category for a total of nearly 52 million pounds.
Laramide Resources plans for this project 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 35.8% with a payback of 2.5 years post tax.
The Murphy Uranium project located in the Northern Territory of Australia is currently being explored by Laramide Resources Ltd. Under a farm-in agreement, Laramide Resources Ltd. has a 100% interest in the project.
The project consists of 683.5 km2 of granted exploration tenure, which is strategically located next to Laramide’s Westmoreland Project in northwest Queensland. This will enhance Laramide’s dominant landholding in a highly prospective and underexplored uranium province.
So why would you invest in Laramide Resources? One reason is that the company is well-managed and has a lot of experience with mining and exploration.
Focus on Sustainable Practices
Laramide Resources is focused on sustainable practices, which means that they are committed to protecting the environment while also maximizing profits.
Assets of Multiple Mining Types and Different Geographical Segments
Finally, the firm’s projects, which are in different geographical segments for the development of uranium assets, provide interested investors with multiple style deposit (ISR, underground, open pit) from which to potentially secure cash flow and should be on your watchlist of companies with Canadian stocks tickers, Australian stock tickers, and over the counter stock tickers to select from. As you can see below, they have many projects in their active pipeline proceeding forward.
Keep Updated on Business News
Make sure to check out the news section below to keep track of all of their projects and development of uranium resources within the firm’s projects portfolio.
Revenue and Finance Data – Watch the Currency
Some of the reported numbers are reported in millions of US dollars, others are in millions CAD. Be sure to double check which currency is represented as you conduct research and select your investments.
Prior Business Name
Laramide Resources Ltd. was incorporated in 1980 and is headquartered in Toronto, Canada.
Business Address and Contact:
Laramide Resources Ltd.
The Exchange Tower
130 King Street West,
PO Box 99, Suite 3680
Toronto, Ontario M5X 1B1 (Canada)
Laramide Resources Ltd. Stock Performance & Market Cap
Stock Tickers – Australian Securities Exchange: LAM, Toronto Stock Exchange (TSX): LAM, OTCMKTS: LMRXF
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Don’t forget to take a look at these uranium stocks to include in your portfolio.
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