Laramide to Update Westmoreland Economic Study

Core Viewpoint - Laramide Resources Ltd. has engaged Lycopodium Limited to update the Preliminary Economic Assessment (PEA) for its Westmoreland Uranium Project, reflecting significantly higher long-term uranium prices and an expanded resource base, with completion targeted for the first half of 2026 [2][3][5]. Group 1: Economic Assessment Update - The updated PEA will incorporate current uranium pricing assumptions, revised capital and operating costs, and the expanded resource base, with potential production rates estimated at approximately 4 to 5 million pounds U₃O₈ per annum [5]. - The previous PEA from 2016 indicated robust project economics at a uranium price of US$65 per pound, which is now considered outdated due to significant changes in market conditions [3][5]. Group 2: Resource Expansion - Since 2016, Laramide has expanded the Westmoreland Mineral Resource to 48.1 million pounds U₃O₈ in the Indicated category at an average grade of 770 ppm and 17.7 million pounds U₃O₈ in the Inferred category at an average grade of 680 ppm [4]. - The company has secured a Mining Development Licence (MDL), indicating a significantly advanced stage of tenure and project title within Queensland [4]. Group 3: Market Context - The uranium market fundamentals have strengthened materially since 2016, with long-term consensus pricing now well above the levels used in the previous study, driven by a resurgence in nuclear energy growth prospects globally [4][5]. - The company emphasizes that the Westmoreland project remains one of the few large-scale, late-stage, low technical risk uranium development projects available to address a growing future supply gap [6].