Laramide Resources

Laramide Resources Ltd. is a dual-listed uranium development company uniquely positioned across three premier mining jurisdictions to supply the global nuclear energy renaissance. With a substantial mineral resource base totaling 129 million pounds of U₃O₈ across multiple deposits—including 55.4 million pounds in the Indicated category and 73.9 million pounds in the Inferred category - Laramide's diversified portfolio represents one of the most strategically balanced uranium development platforms in the sector. The company holds a rare Nuclear Regulatory Commission (NRC) license for its Churchrock ISR Project in New Mexico, placing it among a select group of federally permitted uranium developers in the United States with near-term production capability.​

Formerly focused on conventional mining, Laramide has pivoted to an "ISR First, Aus Next" strategy that leverages low-capital, environmentally superior in-situ recovery technology for initial cash flow, while advancing Westmoreland - one of the world's largest undeveloped uranium projects - in Queensland, Australia. The company benefits from existing infrastructure valued at over US$500 million across its U.S. assets and established relationships with nuclear utilities seeking long-term supply security. 

Laramide is listed on the Toronto Stock Exchange (TSX: LAM), Australian Securities Exchange (ASX: LAM), and OTCQX (LMRXF), and is led by a management team with deep expertise in uranium development, international operations, and nuclear regulatory frameworks.​

Laramide Resources offers a compelling investment opportunity at the convergence of energy security, decarbonization policy, and supply chain reshoring. The company’s flagship Churchrock ISR Project in New Mexico is fully licensed and designated under the federal FAST-41 framework, positioning it for initial production by 2029 with a 31-year mine life producing 31.2 million pounds of U₃O₈. The January 2025 PEA demonstrates exceptional economics: a pre-tax NPV of US$258 million and IRR of 62% at US$75/lb uranium, with all-in sustaining costs of US$34.83/lb placing it in the lowest quartile of global uranium producers.​

With uranium added to the U.S. Critical Minerals List in November 2025 and domestic utilities facing a supply cliff post-2028, Laramide is strategically positioned to serve both commercial nuclear operators and the U.S. government's uranium stockpile program. The company's unique advantage lies in its dual-hemisphere portfolio: near-term ISR production from the U.S. Southwest, anchored by Westmoreland's 48.1 million-pound indicated resource in stable Australia, and high-potential exploration in Kazakhstan's Chu-Sarysu Basin—the world's largest ISR uranium province.

This jurisdictional diversification mitigates geopolitical risk while providing multiple pathways to scalable, low-cost production. As global nuclear capacity expands to meet AI-driven electricity demand and net-zero commitments, Laramide's permitted, construction-ready assets offer investors pure-play exposure to the uranium bull market with significantly de-risked timelines.​

Laramide Resources Ltd. is led by a highly experienced management team with a long track record of value creation in the mining and uranium sectors. Marc Henderson, President, Chief Executive Officer & Director since 1995, is a chartered financial analyst with over 20 years at the helm of public mineral exploration companies and former CEO and President of Aquiline Resources Inc., sold to Pan American Silver, and former President of MineFinders; he holds an economics degree from the University of Colorado.​

Chief Financial Officer Dennis Gibson has served as Laramide’s CFO since 2006 and brings more than 30 years of senior financial experience, including prior roles as CFO of Aquiline Resources Ltd. and Forrester Metals Inc., both successfully acquired; he is a CPA, CGA and holds a Bachelor of Commerce from Concordia University. In Australia, General Manager Lloyd Jones leverages over 30 years of public and private sector experience to lead Laramide’s subsidiaries and project deployment in Queensland and the Northern Territory.​

In the United States, Vice-President of Operations and Strategic Development Josh Leftwich is responsible for advancing uranium assets into production, drawing on senior roles at Cameco, Uranium Energy Corp., and the Alta Mesa ISR start-up team, with deep expertise in NRC licensing, tribal relations, and ISR permitting. Vice President Exploration Rhys Davies is a geologist with global mineral exploration experience, a Registered Professional Geoscientist and MAIG member, holding an MGeol (Hons) from the University of Leicester and an MSc in Nuclear Decommissioning and Waste Management from the University of Birmingham.

Laramide Resources is executing a phased development plan focused on delivering near-term ISR production while building a long-term conventional mining business, emphasizing capital discipline and environmental leadership. The company is advancing its Churchrock ISR Project through final permitting milestones, targeting construction start in 2027 and initial production in 2029 under a scalable 1-3 million pound per year production license. This development timeline supports a 31-year base case mine life, with potential expansion through integration of the adjacent Crownpoint deposit and additional satellite projects within the licensed area.​

Environmental stewardship is central to Laramide's strategy, with the company developing leading-edge groundwater protection protocols in partnership with the Department of Energy and implementing ISR technology that minimizes surface disturbance to 50-100 acre wellfields. Through active engagement with the Navajo Nation and federal agencies under the FAST-41 framework, Laramide ensures its development plans meet rigorous environmental and cultural standards while benefiting from streamlined inter-agency coordination. 

While the U.S. assets provide near-term cash flow, the company continues aggressive exploration at Westmoreland, where a 2025 resource update delivered a 34% increase in indicated resources, and has identified an additional exploration target of 26.7-184.8 million pounds across eight prospective areas. A key advantage in Laramide's growth plan is its exclusive option to acquire 100% of Aral Resources in Kazakhstan, providing exposure to the world's lowest-cost uranium district with drilling planned for Q4 2025.

As of November 2025, Laramide Resources is well-positioned financially, with a market capitalization of approximately C$170 million and a cash position of US$6.5 million, providing runway for key development activities. The company's asset base includes infrastructure advantages that significantly reduce capital intensity, particularly at Churchrock where initial CAPEX is estimated at only US$47.5 million due to the ISR method's minimal surface facilities requirement. The Churchrock PEA projects average annual free cash flow of US$25 million over the initial 25-year mine life, with total after-tax cash flow exceeding US$1 billion at base case production of 1 million pounds per year.​

The Churchrock ISR Project is projected to deliver exceptional financial returns with a pre-tax net present value of US$258 million at an 8% discount rate and an internal rate of return of 56% after tax, underpinned by operating costs of US$25.70 per pound that rank among the industry's most competitive. On an after-tax basis, the project's NPV is US$259 million with a 5.7-year payback period and 31-year mine life.

Laramide remains focused on securing project financing through a combination of strategic offtake agreements with nuclear utilities, traditional project debt, and potential joint ventures, with the low capital intensity of ISR development reducing funding risk compared to conventional mining projects. With strong institutional shareholder support including Boss Energy (19.6%) and ETF Securities (17%), and a clear path to production at Churchrock, Laramide is well-positioned to advance its portfolio toward cash flow generation while maintaining exposure to substantial upside through Westmoreland and Kazakhstan exploration.​

Laramide Resources Ltd. stands at the forefront of the global nuclear energy renaissance, with a strategically diversified portfolio that offers investors unique exposure to the uranium bull market through multiple de-risked development pathways. With its flagship Churchrock ISR Project fully licensed, federally designated under FAST-41, and delivering exceptional economics of 62% IRR and US$258 million NPV, Laramide is positioned to become one of the few new uranium producers in the United States by 2029. 

The company's 129 million pound resource base, spanning the stable jurisdictions of Australia and the United States plus the high-potential Chu-Sarysu Basin in Kazakhstan, provides both near-term production visibility and long-term growth optionality that is unmatched among uranium development peers.​

Laramide's commitment to environmental stewardship through ISR technology, proactive Indigenous community engagement, and adherence to the highest NI 43-101 technical standards positions it as a responsible nuclear fuel supplier for the clean energy transition. 

As global nuclear capacity doubles to meet AI-driven electricity demand and net-zero commitments, while geopolitical tensions expose the vulnerability of concentrated uranium supply chains, Laramide's permitted, construction-ready U.S. assets and scalable Australian foundation offer a compelling investment proposition. For investors seeking leveraged exposure to rising uranium prices with significantly reduced development risk, Laramide Resources presents an attractive opportunity to participate in the essential fuel behind the world's carbon-free energy future.​