Topic: How To Invest

Pat: A friend suggested I look at Laramide Resources. Any opinion on this junior resource company? Best wishes.

Article Excerpt

Laramide Resources Ltd., $0.88, symbol LAM on Toronto (Shares outstanding: 70.7 million; Market cap: $62.2 million; www.laramide.com), explores for uranium in Australia and the U.S. Laramide’s main asset is its 100%-owned, 933-square-kilometre Westmoreland uranium property in Queensland, Australia. The company estimates that Westmoreland contains 51.9 million pounds of uranium, and it continues to drill to enhance this estimate. Mount Isa Mines first discovered the deposit in 1956. Previous owner Rio Tinto explored the property from 1990 to 1999. In 2007, Laramide completed an initial mine study that estimated that Westmoreland could produce 3 million pounds of uranium a year over an 11-year mine life. In the U.S., the company holds the La Jara Mesa uranium property in New Mexico, which contains 10.4 million pounds of uranium, according to Laramide’s estimate. The company also holds the La Sal uranium property in Utah. It hopes to build a small mine on this site, with production starting as early as next year. This will…