Laramide Resources Ltd. was incorporated under the laws of British Columbia, Canada, on 29 April 1980, and was subject to the BCCB, until 27 June 1996 when it was continued under the laws of the Dominion of Canada and became subject to the relevant provisions of the CBCA. In August 2006, the Company listed on the Toronto Stock Exchange under the symbol "LAM". In April 2013, the Company co-listed on the Australian Securities Exchange under the symbol "LAM".
The Company is also registered as a foreign company in Australia pursuant to the provisions of the Corporations Act.
The corporate structure showing the key entities in the Group is set out below:
Laramide is engaged in the exploration and development of uranium assets. The Company’s portfolio of uranium projects has been chosen for their production potential and location in safe and politically stable jurisdictions. The Company’s uranium assets are located in Australia and the United States.
Laramide holds interests in (or has the right to earn an interest in) a series of contiguous mineral tenements that cover most of the known uranium deposits in the Westmoreland region, giving the Company a strategic position in the uranium exploration industry in Australia. The Westmoreland Project has an Indicated Mineral Resource totalling 36.0 million pounds of uranium (U3O8) contained in 18.7 million tonnes at an average grade of 0.089% U3O8 and a further Inferred Mineral Resource totalling 15.9 million pounds of uranium (U3O8) contained in 9.0 million tonnes at an average grade of 0.083% U3O8.
The Company’s strategic objectives broadly are to:
In August 2012, Laramide commenced a Westmoreland Project drilling program which focused on the highly prospective structural corridor connecting the Huarabagoo and Junnagunna deposits. On 17 October 2012 and 9 January 2013, Laramide released the results of this program, highlights of which included a number of new mineralized zones, and which are discussed in greater detail in press releases and the financial reports for the quarter.
As part of Laramide’s strategy to control ground contained within a large mineralised system in Australia, it entered into three farm-in and joint venture agreements in relation to a number of tenements situated adjacent to Westmoreland in the Northern Territory. Most recently, the Company executed an agreement in relation to a Farm-In and Joint Venture with Rio Tinto Exploration Pty Limited (Murphy Farm-in and JV) on strategically located uranium tenements in the Northern Territory, that are situated geologically within the highly prospective Murphy Uranium Province.
The Company’s U.S. assets include La Jara Mesa, New Mexico and La Sal in the Lisbon Valley district of Utah. Laramide’s U.S. properties provide diversification by jurisdiction and by stage of project, as both U.S. properties were permitted by the former owner Homestake. The Company acquired its U.S. projects from Homestake, a wholly owned subsidiary of Barrick Gold Corp., in 2005. These projects are currently at the development stage.
Laramide’s portfolio also includes strategic equity positions and royalty participation in uranium development and exploration companies that provide additional geographic diversification and uranium exposure for investors.
Laramide has an experienced and proven team of Directors and senior managers with excellent skill sets in uranium business strategy, exploration, mine development, financing and metals marketing. The Board and its advisors have extensive networks within the mineral exploration and mining industry which will assist in the development of our projects both in Australia, the United States and internationally.