Laramide Resources has filed the NI 43-101 technical report supporting the new Preliminary Economic Assessment (PEA) for the Westmoreland uranium project, located in Queensland, Australia. The document updates a study dating back to 2016, incorporating a decade of technical advances. The company is listed on the TSX, ASX, and OTCQX.
The new study covers four deposits: Redtree, Huarabagoo, Junnagunna, and Long Pocket. The production target draws approximately 79% from indicated mineral resources and the remaining 21% from inferred resources. The PEA refreshes engineering, mine planning, metallurgical process design, environmental planning, capital and operating cost estimates, and market assumptions — all aligned with current standards. The previous 2016 study had become outdated, both in terms of technical parameters and uranium market conditions, which have shifted considerably over the past few years.
Marc Henderson, President and CEO of Laramide Resources, acknowledged that current Queensland policy still prohibits uranium development, but emphasized that “the conversation around uranium in Australia is clearly evolving.” The company’s stated goal is to keep Westmoreland technically advanced and ready to move quickly should the regulatory framework change. Laramide also says it is in a position to submit a mining lease application as soon as the Queensland government grants permission.
On the exploration front, Laramide plans to carry out fieldwork at Westmoreland during 2026 and 2027, targeting an expansion of the existing resource base. Priority areas include potential deposit extensions and satellite targets such as the Link Zone between Huarabagoo and Junnagunna, as well as the Amphitheatre, Moogooma, and U-Valley zones. These areas fall outside the current economic assessment but could significantly broaden the overall district potential.
The broader Australian context is shifting. The uranium debate has gained renewed momentum at both the federal and state level, driven by rising global demand for nuclear fuel and the need to diversify supply for countries expanding their reactor fleets. Australia holds some of the world’s largest uranium reserves, yet Queensland remains one of the states that still bans mining of the mineral. Laramide is betting that this stance will not hold indefinitely. With a filed technical report, certified resources, and an active exploration plan, Westmoreland stands today as the most advanced project in the state — and the one best positioned to move forward if policy opens the door.
