Emerging Markets Report: Ground Breaking
Laramide Starts Drilling for More Uranium in Australia
ORLANDO, Fla., June 09, 2022 (GLOBE NEWSWIRE) -- Not so long ago we began coverage of Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) which holds diversified uranium assets strategically positioned in the United States and Australia that have been chosen for their low-cost production potential. If you’re new to the story, , which has renewed interest in the United States’ uranium exploration and increased interest in Australia, already a top international producer.
It goes without saying that when macroeconomic or geopolitical events occur and there is a perception that market value for a commodity is about to change for the better, that there can be reciprocal actions to get involved, to buy land or fields to mine or till for this real or perceived opportunity.
Then there are those who are already there, ready for the moment at hand.
Such is the case for Laramide which just announced “the commencement of a diamond drill program at its Westmoreland Uranium Project in Queensland, Australia.”
Here’s .
According to the release, “The current phase of the Australian 2022 drilling program is focused on an initial test of a potential satellite deposit called the Amphitheatre prospect (“Amphitheatre”), which is located approximately 16.5km NE of the Junnagunna deposit, one of the three mineralized zones comprising the Westmoreland mineral resource.”
For us, it’s a possible turning point for Laramide as they formally begin to take to the earth anew. Laramide’s President and CEO Marc Henderson notes the importance of the moment in the release:
“We are pleased to be drilling and actively exploring again in Australia and have been encouraged by the dramatic improvement in the uranium price, which is finally beginning to reflect very tight supply /demand fundamentals in the sector. The broader energy supply constraints, a renewed emphasis on energy security of supply including the provenance of the supply, and the focus on transitioning to the production of clean energy are expected to contribute to the price fundamentals of uranium mining.”
Laramide being back in the ground in Australia certainly warrants watching in a global market like this one.
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