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Laramide Resources Boosts Uranium Reserves with Updated Westmoreland Report

Story Highlights
  • Laramide Resources reports a significant increase in mineral resources at its Westmoreland Uranium Project.
  • The updated estimate enhances Laramide’s market position and offers promising implications for stakeholders.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.

The latest update is out from Laramide Resources ( (TSE:LAM) ).

Laramide Resources has filed a NI 43-101 compliant technical report for its Westmoreland Uranium Project in Queensland, Australia, which indicates a significant increase in mineral resources. The updated estimate reports an indicated resource of 27.8 million tonnes at an average grade of 770 ppm for 48.1 million pounds of U3O8, and an inferred resource of 11.8 million tonnes at 680 ppm for 17.7 million pounds. This update, which includes re-estimates of several deposits and an initial resource for Long Pocket, positions Laramide as a key player in the uranium industry, potentially enhancing its market position and offering promising implications for stakeholders.

Spark’s Take on TSE:LAM Stock

According to Spark, TipRanks’ AI Analyst, TSE:LAM is a Underperform.

Laramide Resources is currently facing significant financial challenges with no revenue and increasing losses. Technical analysis indicates a downward trend with limited momentum, and the valuation is adversely affected by a negative P/E ratio and lack of dividend yield. Combined, these factors contribute to a low overall stock score, reflecting the company’s operational and financial inefficiencies.

To see Spark’s full report on TSE:LAM stock, click here.

More about Laramide Resources

Laramide Resources Ltd. is a company focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions. The company’s portfolio includes advanced uranium projects in areas with historical production or superior geological prospectivity. Laramide’s assets are selected for their size and production potential, with two large development projects considered late-stage and low-technical risk. Additionally, Laramide is exploring in Kazakhstan’s Chu-Sarysu Basin for world-class roll-front deposits suitable for in-situ recovery.

YTD Price Performance: -4.41%

Average Trading Volume: 272,736

Technical Sentiment Signal: Sell

Current Market Cap: C$162.1M

For an in-depth examination of LAM stock, go to TipRanks’ Stock Analysis page.

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