Laramide Resources (LAM) - Uranium End of Year Update & Investor Meetings

• Mark Henderson from Toronto-based Laramide Resources, a uranium development company, discussed company updates in London.
• Despite the challenges of COVID-19, the company saw progress, notably due to the bull market and recovery from the pandemic.
• There has been a positive shift in public opinion towards nuclear energy, possibly accelerated by the energy crisis and increased focus on zero emissions.
• There's a potential for a uranium supply shortage, especially with China's aggressive nuclear plans and Kazakhstan's uranium being less available to global markets.
• Laramide Resources remains optimistic about the uranium market's future, with potential for further project developments and collaborations.

Laramide Resources - A Promising Uranium Developer to Watch

Laramide Resources is a Toronto-based uranium development company focused on advancing its portfolio of high-quality uranium assets. In a recent video interview, CEO Marc Henderson provided updates on the company's projects and outlook on the uranium market, arguing why Laramide Resources could be a strong investment opportunity.

I. Laramide Resources Well-Positioned to Capitalize on Bullish Uranium Market Dynamics

The uranium market has seen a major reversal over the past year, with the uranium spot price rising from around $30/lb in 2020 to over $50/lb currently. This marks the end of a 10-year bear market and has been driven by several key developments:

• Sprott Physical Uranium Trust (SPUT) - this fund has been aggressively buying uranium on the spot market, removing significant supply and alerting utilities to looming shortages.
• Supply curtailments - major producers like Kazatomprom have reduced output during the downturn. Reserves are depleting rapidly with limited exploration.
• Demand growth - new reactor construction continues globally, especially in China which plans to grow from 60 GWe to 200 GWe by 2035. This requires a massive uranium supply.
• Energy crisis - shortages and price spikes in oil, gas and coal have pushed nuclear energy back into the spotlight as a stable, reliable baseload source. Nuclear is also vital for net zero emissions goals.

Laramide's CEO sees this bull run extending for at least another 2 years before incentives are high enough for meaningful new supply to come online. Key upcoming catalysts to watch include the restart of major idled capacity like Cigar Lake, and new mine developments breaking ground. With demand growth outpacing supply, the market fundamentals remain very positive for uranium in the medium term.

II. Laramide Offers Leverage Through High-Quality Asset Portfolio

Laramide has assembled a portfolio of high-quality, low-cost uranium assets that provide significant leverage to rising uranium prices:

A) Near-Term U.S. ISR Assets

• Churchrock, New Mexico: fully permitted ISR project that could produce 1 million lb/yr at low capex of around $30 million.
• Crownpoint, New Mexico: similar ISR restart opportunity with existing infrastructure.

The low capex and fast timelines of ISR presents a quick pathway to production in a strong market.

B) Flagship Westmoreland Project, Australia

• Located in Queensland, this advanced resource hosts 50+ million pounds U3O8.
• Completed feasibility study outlines a potential 16+ year mine life, with 2.5 million lb/yr average production.
• Laramide is well positioned to develop the project once uranium prices recover further and the political environment in Queensland turns more favorable. Permitting could be achieved quickly given advanced status.

C) Exposure to District-Scale Upside in Australia Through JVs

• Joint venture with Rio Tinto covering a highly prospective but underexplored tenure adjacent to Westmoreland. This provides substantial blue-sky potential.
• Strategic foothold secured in the Northern Territory through the Murphy Project, with plans to ramp up exploration activity. As a relatively unexplored uranium district, this provides district-scale discovery potential.

III. Catalysts Upcoming to Unlock Value

With advanced assets and leverage to a strengthening uranium market, Laramide offers investors exciting catalysts on the horizon:

• Exploration results from Murphy Project as work programs ramp up. Significant discoveries could highlight the value of this strategic land package.
• Advancement on permitting for Churchrock and Crownpoint as uranium sentiment improves in the U.S. Clear path to fast-track development once approved.
• A change in stance on uranium mining from the Queensland government. This would be a major re-rating event for Westmoreland and allow fast-tracking to production.
• Continued strength in the uranium spot price and investor sentiment towards nuclear energy. This should improve Laramide's financing options and valuation.
• Potential M&A interest from larger uranium entities as they look to bolster development pipelines. Laramide's assets would be attractive targets.

IV. Strong Management to Execute Strategic Vision

Laramide is led by an experienced management team with deep expertise across the nuclear energy industry, mining, and finance. CEO Marc Henderson has steered the company through the ups and downs of the uranium cycle previously and has demonstrated the ability to identify and develop assets.

The team has positioned the company with a portfolio allowing it to take advantage of recovering uranium prices. Their experience gives confidence they can effectively execute upcoming strategic plans and catalysts.

With advanced uranium assets, located in top-tier mining jurisdictions, a strengthening uranium market, upcoming catalysts, and experienced leadership - Laramide Resources presents a compelling investment case in the uranium sector. The company provides leverage to an improving uranium environment and multiple avenues for value creation. For investors bullish on nuclear energy and the underlying commodity, Laramide Resources deserves strong consideration.

The Investment Thesis for Laramide Resources

Leverage to rising uranium prices: Laramide offers leverage and torque to a strengthening uranium market through its portfolio of advanced exploration and development stage assets. As uranium prices continue recovering, the value of Laramide's projects should increase substantially.

Near-term production potential: The company's U.S. ISR assets provide a clear pathway to near-term production once permits are secured. This allows Laramide to generate cash flow quickly to fund growth. Getting into production in a rising price environment can be highly profitable.

Exploration upside: Laramide's large landholdings have significant exploration upside, particularly in the relatively under-explored but highly prospective regions of Australia where they operate. Major discoveries could be game-changing for the stock.

Project economics: Preliminary studies have demonstrated project economics and capital efficiency for assets like Westmoreland. Key metrics like IRR for a potential long-life, low-cost operation are compelling.

Political/permitting catalysts: Advancing permitting at projects like Westmoreland and Churchrock could drive major share price catalysts as these assets get de-risked. A policy shift in uranium mining in Queensland would be transformative.

Experienced management: The company has a proven team to effectively develop assets through the mining lifecycle. Their experience in previous uranium bull markets provides valuable perspectives.

Undervalued relative to peers: Laramide Resources trades at a discount to many uranium developers despite its portfolio of advanced, high-quality assets. As catalysts emerge, this value disconnect should narrow.

Takeout potential: Laramide's assets would be attractive M&A targets for larger entities looking to bolster their uranium project pipelines as prices rise.

Laramide Resources offers investors an intriguing way to gain exposure and leverage to the upside in the uranium market. The upcoming catalysts provide opportunities for substantial value creation and stock outperformance in a bullish environment.