Laramide Resources Ltd. (LAM.V) and (LMRXF on the OTC:BB) fianlized a deal this week that gives them control 100% of Westmoreland/Lagoon Creek deposit. Westmoreland was last listed as containing 21,000 tonnes ($800 million at todays prices)of uranium oxide material, making it one of Australia's biggest known undeveloped deposits.
laramide.com
Lagoon Creek ranks among the largest uranium deposits in Australia. In turn, Australia ranks first in the world in known recoverable resources of uranium with 28 per cent of the total. By contrast, Canada ranks third with 14 per cent, but has a leading position in world mine output with 30 per cent of global supply.
Uranium prices have improved substantially in the past 18 months with spot prices rising from below $10 (U.S.) per pound to current levels above $19.00 (U.S.) per pound. This trend of rising prices is attributed to strong industry fundamentals with present world mine output (43,000 tonnes) a little more than half the level of consumption by utilities (78,000 tonnes), which are the consumers of all of global uranium supply. This positive pricing picture follows a prolonged bear market dating to the early 1980s.
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James Dines one of the world's most respected fincial forecasters is extemely bullish on Uranium.
theaureport.com
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Uranium Prices
uxc.com
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Article about uranium supply shortages.
theage.com.au
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Laramide has 30,361,387 shares outstanding and is trading at $.31 CDA ($.24 US). |
