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« Uranium One: Re-Visited! | Main | Uranium Long Term Price »
Saturday
Jan172009

Laramide Resources Limited: Showing signs of life!

LAM Chart 17 Jan 09

Chart courtesy of StockCharts.com


In late December 2008 this uranium stock traded as low as $0.60 so it is pleasing to see that it is now heading north and that Laramide closed at $1.95 on Friday. We are aware that this stock price is a long, long way from its former highs when the share price hit $16.00, however we are still believers in the uranium story and see this tiny sector as a buying opportunity.

Unfortunately for us we do not have unlimited funds to invest but we do intend to partake in some bargain hunting at these price levels as we did when purchasing Crosshair and Denison recently.

Back to Laramide where the company has:

Approximately 60 million pounds of U3O8 (uranium oxide) located in NI 43-101 compliant resources. It also has some exciting exploration projects located in the USA and Australia, with the potential to double these known resources.

It should also be remembered that Laramide also has a gold interest as we reported on June 19th, 2008:

“The gold mineralisation appears to be partly at least spatially separate from high grade uranium mineralization. To date it is not clear what is controlling the gold mineralisation; however the mineralisation could be distal to uranium. This opens up the possibility of a separate substantial gold deposit”

So we will continue to hold our stock and monitor Laramide’s progress with the view to possibly increasing our exposure to this stock. We should note here that do need to stay of aware of other players in this market such as Hathor Exploration Limited which has been going great guns recently.

Laramide Resources Limited has a market capitalization of $121 million, with 62.55 million shares outstanding, Laramide closed yesterday at $1.95.

Laramide trades on the Toronto Stock Exchange under the symbol of LAM.

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Reader Comments (2)

Oh no! The URANIUM STOCKS kiss of death!

Remember the DENISON/CROSSHAIR "thumbs up" on Jan. 6th? Shares of both have been roughly CUT IN HALF since then! Ouch! You guys are the only jockey in the race taking his horse around the track in a clockwise direction.

Don't you know that tax selling season is over, and we all have enough writedowns to last into the next decade; do you really think we need another?

Poor Laramide; doesn't stand a chance....:'-(

January 18, 2009 | Unregistered CommenterJoeBronx

Joe, Thanks for the comments, but lets see what price LAM is a year from now and if we make a profit or not on this trade. True that this sector is bombed out but just maybe it is also a buying opportunity.

January 18, 2009 | Unregistered CommenterUranium Stocks

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