Permitting Delays or Market Gains: What’s Next for Laramide’s Uranium Assets?

Strategic Permitting Progress in the US

Laramide Resources Ltd. has marked a pivotal phase in its development trajectory with the inclusion of its Crownpoint-Churchrock and La Jara Mesa uranium projects under the US federal FAST-41 permitting framework. This designation streamlines the permitting process by fostering interagency collaboration, setting clear timelines, and enhancing transparency. The Crownpoint-Churchrock project, located in New Mexico, is progressing through an Environmental Impact Statement led by the Nuclear Regulatory Commission, targeting completion by May 2027. Meanwhile, La Jara Mesa, also in New Mexico and situated on National Forest land, was upgraded to a fully covered FAST-41 project, with a permitting timeline extending to November 2027 under the US Forest Service’s oversight.

Australian Milestone, Westmoreland Project Development Licence

In Australia, Laramide achieved a significant regulatory milestone with the granting of a Mineral Development Licence (MDL) for its Westmoreland Uranium Project in Queensland. This licence transitions Westmoreland from exploration to a development-stage asset, underpinning the company’s ability to advance feasibility studies and prepare for mining lease applications. The MDL was granted following an Indigenous Land Use Agreement with the Gangalidda & Garawa Native Title Aboriginal Corporation, reflecting Laramide’s commitment to responsible development and Indigenous engagement. The Westmoreland project, one of Australia’s largest undeveloped uranium assets, benefits from a recent resource update showing a 34% increase in indicated resources, reinforcing its potential as a low-cost uranium producer.

Robust Market Fundamentals and Policy Support

The uranium market backdrop remains highly constructive, with spot prices rebounding above US$70 per pound amid a chronic supply deficit and structural demand growth driven by nuclear energy expansion. US policy developments, including executive orders to accelerate nuclear reactor licensing and support domestic uranium mining, further bolster the sector’s outlook. Laramide’s portfolio, strategically located in politically stable jurisdictions prioritizing uranium supply security, positions the company to capitalize on these trends.

Financial Strengthening and Capital Management

On the financing front, Laramide completed a non-brokered private placement in July 2025, raising CAD 12 million through the issuance of 20 million shares at CAD 0.60 each. The proceeds are earmarked for advancing US permitting efforts, working capital, and general corporate purposes. Additionally, the company converted USD 3.5 million of convertible debt into shares earlier in 2025, eliminating related derivative liabilities and reducing financing expenses. These moves have contributed to a reduced net loss in Q2 2025 compared to the prior year, reflecting improved cost management and capital structure.

Exploration and Development Outlook

Laramide continues to advance exploration in Kazakhstan’s Chu-Sarysu Basin, leveraging historical geological data to identify multiple drill targets. In Australia, exploration and development activities at Westmoreland and the adjacent Murphy Project remain ongoing, with a focus on resource expansion and feasibility. In the US, permitting remains the primary activity, with the company engaging constructively with federal, state, local, and tribal stakeholders to progress its projects responsibly and efficiently.