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Laramide Resources Ltd T.LAM

Alternate Symbol(s):  LMRXF

Energy
Laramide Resources Ltd. is a Canada-based company, which is focused on exploring and developing uranium assets in Australia and the western United States. Its portfolio comprises of five uranium projects, namely Crownpoint-Churchrock Uranium Project, La Jara Mesa Uranium Project, La Sal Uranium Project, Westmoreland Uranium Project, and Murphy Uranium Project. The Crownpoint-Churchrock Uranium Project consists of two uranium deposits, Crownpoint and Church Rock. The Project consists of all or portions of eight sections of land totaling approximately 4,680 acres. The La Sal Project is a sandstone-hosted roll front uranium deposit and is located in close proximity to Energy Fuels' White Mesa Mill in Blanding, Utah. The Westmoreland Project is located approximately 400 kilometers north-northwest of Mt Isa. The Murphy Uranium Project consists of 683.5 km2 of granted exploration tenure, which lies contiguous to and along strike from Laramide's Westmoreland Project in northwest Queensland.


TSX:LAM - Post by User

Laramide Resources Ltd
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Comment by mayorkghon Jan 03, 2011 9:24am
376 Views
Post# 17917758

RE: LAM

RE: LAMExcerpt from Dundee's November 28, 2010 LAM analysis when sp was $2.23:

Conclusion: We continue to recommend Laramide as a BUY with a 12-month share price target of C$3.20.

We are encouraged with the initial drill results from the Long Pocket area on Laramide's 100% owned Westmoreland Project in Queensland Australia. Three historical prospects at Long Pocket lie about 8km to the east of its 52 MM lbs U3O8 Westmoreland deposits (Figures 1, 2). This drilling increases potential for defining further near surface mineralization located outside of the current resource footprint. Success could enhance the possibility of expanding its proposed 3 MM lb production profile annually. The focus for 2011 will be on expanding resources and providing data for an updated scoping study.

We believe LAM is undervalued by the market at EV/lb of inventory at US$2.30/lb U3O8 - about half of where its developer peers trade at US$4.71/lb. Laramide is spending development dollars cautiously while the Queensland Uranium Mining Ban policy of the existing ALP Party remains in effect. However should this political issue be resolved Laramide is positioning itself to advance along the permitting trail.

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