Laramide Resources (TSX:LAM) - 1M lb/yr New Mexico Uranium Project Awaits Final Permit

Feb 18, 2025

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Interview with Marc Henderson, President & CEO of Laramide Resources Ltd.

Our Previous Interview: https://www.cruxinvestor.com/posts/laramide-resources-tsxlam-secures-prime-uranium-exploration-rights-in-kazakhstan-5895

Recording date: 14th February 2025

Laramide Resources (TSX:LAM) is strategically positioning itself in the uranium sector with three key assets across the United States, Australia, and Kazakhstan. The company's portfolio comes at a crucial time as nuclear power gains prominence in the global push for clean energy.

The company's flagship Church Rock ISR project in New Mexico holds 50 million pounds of uranium resources and is approaching the final stages of development. With most permits secured, including a U.S. Nuclear Regulatory Commission license, the project awaits one remaining state permit related to groundwater restoration. Church Rock is projected to be shovel-ready by 2026-2027, with initial production capacity of 1 million pounds annually, scalable to 3 million pounds. The ISR mining method offers advantages of lower capital costs and faster path to production.

In Australia, Laramide's Westmoreland project in Queensland represents another significant opportunity with over 50 million pounds of uranium resources. The conventional mining project targets production of 5 million pounds annually and could be operational by 2028-2029, pending the state's approval of uranium mining.

The company recently expanded its portfolio with a greenfield exploration project in Kazakhstan, the world's leading uranium producer. This venture, viewed as an "asymmetric upside opportunity," provides Laramide with exploration potential in a highly prospective region.

CEO Marc Henderson sees strong fundamentals in the uranium market, noting that utilities are comfortable with $80/lb uranium prices, with potential to reach $100/lb. He emphasizes that success in the current market requires projects that are viable at these price levels.

The company's development strategy aligns with growing uranium demand driven by nuclear power's role in clean energy transitions. Years of underinvestment in new supply, combined with existing mine depletion, has created a structural deficit in the uranium market. Henderson notes, "We need a lot more uranium, but we don't need it all to start in 2030," highlighting the strategic timing of Laramide's project pipeline.

The investment thesis centers on Laramide's exposure to rising uranium prices through low-cost, late-stage development assets. Near-term catalysts include the final permit for Church Rock and Queensland's potential approval of uranium mining for Westmoreland. This positions the company to potentially become a significant supplier to Western utilities as the market faces growing supply deficits.

Learn more: https://www.cruxinvestor.com/companies/laramide-resources