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Laramide Resources Ltd T.LAM

Alternate Symbol(s):  LMRXF

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

Bullboard Posts
Comment by bbucks99on Sep 30, 2005 1:25pm
330 Views
Post# 9637194

RE: Patience

RE: PatienceI can't argue with you. However, I sold half my position yesterday on the open and pocketed a tidy profit. Maybe a lucky guess or possibly a dumb move. Regardless, I based my decision to sell on 2 factors. 1) the huge and very quick move up in price from $2.84 to $7.15, and 2) the fact that LAM's chart was (and still is) so overbought it's ridiculous. Using yesterday's high ($7.15) and based on some very basic TA a simple 38% FIB retracement brings the price down to $4.96. If LAM goes down that far (and I believe it will), but $4.96 doesn't hold, the next support is at $4.49. That's what I am basing my call on. I may be wrong in my assessment of a pullback in the price, but I don't think so. Anyway, you got to call 'em as you see 'em. Good luck to all!
Bullboard Posts