Laramide Resources Ltd.
Laramide Resources' 100%-owned Westmoreland Uranium Project (~1,034.82 km2, Queensland) is its flagship and most-advanced asset; the company also holds the Crownpoint-Churchrock in-situ recovery project and the La Jara Mesa project in New Mexico and the La Sal project in Utah, the Murphy project in Australia, and, since August 2026, uranium exploration licences in Sweden. A July 2026 updated PEA (replacing a 2016 study) outlines a conventional open-pit mine and processing facility over an 11-year life at up to 8,000 tonnes/day, targeting average output near 5Mlb U3O8/yr (peak 6.2Mlb in year 2), generating a post-tax NPV7.5% of US$741.1M and a 33% IRR at a US$90/lb long-term uranium price assumption. The company is prepared to lodge a Mining Lease Application as soon as permitted by the Queensland Government.
Notable vs. Peers
- Financials score of 1.3/10 is weaker than the peer average of 5.9/10.
- Jurisdiction risk score of 5/10 is meaningfully riskier than the peer average of 7.9/10.
Lifecycle Milestones
Not in place: road access, grid power. Not yet determined: mill, tailings facility.
Jurisdiction (40%)5/10
Queensland: Fraser PPI 2025 is 82.72 of 100 (rank 18 of 68), which maps to 9 on this site's scale; this company scores 5 for the project-specific reason below. Westmoreland is in north-west Queensland, Australia, an established mining jurisdiction with strong rule of law, but Queensland does not allow uranium mining. Government policy has barred it since 1989, apart from 2012 to 2015: the Newman government lifted the ban in October 2012 and the Palaszczuk government reinstated it in March 2015. The state will not grant a mining lease to mine uranium or permit uranium processing, although exploration is allowed, and Laramide's July 2026 technical report records that the Queensland government said in February 2026 that uranium mining is not part of its plan for the resources sector. Laramide holds a Mineral Development Licence over the main deposits (granted July 2025) but has not lodged a Mining Lease Application; it says it will do so once the government permits it. Developing the flagship therefore depends on a change in state policy, so the score sits well below the Tier-1 level. The US projects do not set it.
Infrastructure (40%)2.1/10
No confirmed road access and no confirmed grid power at Westmoreland Uranium Project, Queensland, Australia; existing mill and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Century (tailings retreatment) (Sibanye-Stillwater), 148 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score:9.7/10
Boss Energy Limited holds 18% (report date not on file) See holders
An operating producer's stake scores 8 at 5%, rising to 10 at 20% (the take-over-bid threshold) and holding there up to 50%.
Weight 25% · 34% here - Distance to a producing mineSub-score:1.7/10
Nearest producing mine: Century (tailings retreatment) (Sibanye-Stillwater), 148 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 31% here - Lifecycle stageSub-score:6/10
Stage: Preliminary Economic Assessment
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 20% here - JurisdictionSub-score:5/10
Australia: jurisdiction score 5/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 9% here - CommoditySub-score:4/10
Primary commodity: Uranium
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 6% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, Chief Executive Officer and Director of Laramide Resources Ltd. (TSX: LAM), 1995-present, and Chairman of Carlton Precious Inc. (TSXV: CPI); also a director of Getchell Gold Corp. A senior mining executive with more than 20 years at the helm of public mineral exploration companies: founded Treasury Metals Inc. as its Chairman in 2008 following the spinoff from Laramide, and was President and Chief Executive Officer of Aquiline Resources Inc. from 2004 until its sale to Pan American Silver Corp. (announced late 2009, completed January 2010). CFA Charterholder; economics degree from the University of Colorado.
Chief Financial Officer of Laramide Resources Ltd. (TSX: LAM), since 2006. CPA, CGA; Bachelor of Commerce, Concordia University. 30+ years in senior financial positions; former CFO of Aquiline Resources Ltd. (2006-2009); former CFO of Forrester Metals Inc.
General Manager, Australia of Laramide Resources Ltd. (TSX: LAM). 30+ years' private- and government-sector experience; leads Laramide's Australian subsidiaries and project development in Queensland and the Northern Territory. Source: laramide.com/about/management-team/.
Vice-President of Operations and Strategic Development, U.S.A. of Laramide Resources Ltd. (TSX: LAM). Director of Radiation Safety and Licensing at Cameco Corporation, reporting to its President, overseeing compliance/oversight of three mine operations and seven development projects; prior experience at Uranium Energy Corp. and Mesteña Uranium (now the Alta Mesa Project). Source: laramide.com/about/management-team/.
Vice President Exploration of Laramide Resources Ltd. (TSX: LAM). MAIG, RPGeo (Mineral Exploration), FGS; MGeol (Hons), University of Leicester; MSc Nuclear Decommissioning, University of Birmingham. Geologist with diverse commodity experience across multiple continents. Source: laramide.com/about/management-team/.
Director, Investor Relations of Laramide Resources Ltd. (TSX: LAM). B.A.(H) Geographic Information Systems, Queens University; Finance Management certificate, University of Toronto. 20+ years leading investor relations for TSX-listed junior mining companies including Bannerman Resources, Frontera Copper, Queenston Mining and Kensington Resources. Source: laramide.com/about/management-team/.
Corporate Secretary of Lahontan Gold Corp.; also Corporate Secretary of Roscan Gold Corporation, Sterling Metals Corp. and Laramide Resources Ltd. and a director of Route 109 Resources Inc. Securities/corporate-commercial lawyer, managing partner of Irwin Lowy LLP since January 2010.
Non-Executive Chairman of the Board of Laramide Resources Ltd. (TSX: LAM); member, Compensation and Nominating & Governance Committees; also a director of Morocco Strategic Minerals Corporation. At Morocco Strategic Minerals he leads the Audit Committee, and he serves on several other public-company boards including as Lead Independent Director of Cerro de Pasco Resources; Non-Executive Chairman & CEO of Canadian Goldfields Discovery Corp. from 2025 and Non-Executive Chairman of Vox Valor Capital Ltd. from 2022; former Director and Audit Committee Chairman of Maya Gold & Silver (now Aya Gold & Silver). Barrister and Solicitor (Ontario); Attorney (NY, DC); BSc (Hons) in Biology and Environmental Science, University of Guelph; LLB & JD, Windsor/Detroit joint international-law program; LLM in international finance, tax and environmental law. Co-founder and CEO of Midpoint Holdings Ltd. (until 2015) and Chairman until 2017, and co-founder of three financial-services businesses; 25+ years in international capital markets at Merrill Lynch International, ICAP, CEDEF, ABN AMRO Bank, the World Bank and Climate Change Capital; Partner with JAS Financial Products LLP / Conservation Finance International (2004-2012).
Chairwoman of the Board of Canstar Resources Inc. (TSXV: ROX) and a Director of Laramide Resources Ltd. (TSX: LAM). CFA, PhD, P.Geo., FCIM. More than 20 years of Canadian and international experience at major institutions in the fields of mineral economics, financial analysis, investment management and investor relations. Former VP Investor Relations at the Augusta Group of Companies, Dominion Diamond Corp. and Hudbay Minerals Inc., and a former VP and Research Analyst at BMO. Past Chair of CIM's Management and Economics Society. Holds a PhD in Mineral Economics from McGill University. Source: canstarresources.com/corporate/management-directors/.
Director of Laramide Resources Ltd. (TSX: LAM). Bachelor of Engineering, McGill University; Masters, MIT; MBA, College des Ingenieurs (Paris). 12 years providing corporate finance and marketing advisory to uranium mining companies; former employee of AREVA SA (now Orano SA). Source: laramide.com/about/management-team/.
Director of Laramide Resources Ltd. (TSX: LAM). Licensed professional chemical engineer, Bachelor of Science Chemical Engineering, Colorado School of Mines. 30+ years in in-situ recovery and the uranium industry; early career at Everest Minerals' uranium ISR projects, South Texas (1986); VP with UrAsia Energy Ltd. (2006-2008) during construction/operation of the Akdala, South Inkai and Kharasan-1 uranium ISR projects; VP of Powertech USA Inc. (2008-2014); COO of Azarga Uranium Corp. (2014-2021, merged with enCore Energy Corp.); General Manager of Florence Copper LLC (Taseko Mines Limited) since 2023 (current, concurrent). Source: laramide.com/about/management-team/.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Laramide Resources' register includes a currently-increasing producer stake: Boss Energy Limited, the ASX-listed operator of the restarted Honeymoon uranium mine, has built a position to 18% through a mix of cash and share consideration and has continued adding, committing to take its full pro-rata share of a further $10 million financing in mid-2025. ALPS Advisors, Inc. separately holds 10%, an ETF-adjacent registered adviser rather than a discretionary fund. One director open-market purchase (Marc Henderson, April 2026) is on file; no dedicated resource-specialist fund is disclosed.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Laramide Resources owns 100% of its flagship Westmoreland uranium project in Queensland, Australia, and also holds the Crownpoint-Churchrock and La Jara Mesa projects in New Mexico, the La Sal project in Utah, the Murphy project in Australia and, since August 2026, uranium exploration licences in Sweden. Westmoreland's 2025 resource contains 48,100,000 lb of U3O8 in measured and indicated resources, all of it indicated, plus 17,700,000 lb inferred. A July 2026 updated preliminary economic assessment outlines a conventional open-pit mine over an 11-year mine life averaging close to 5Mlb of U3O8 a year, with an after-tax NPV7.5% of US$741.1M and a 33% IRR at US$90/lb uranium, on initial capital of US$536.3M. Queensland's policy does not currently allow uranium mining leases, and Laramide has said it will lodge a mining lease application as soon as it is permitted.