March 22, 2023
Laramide Resources Ltd. (TSX:LAM, BUY, C$0.80 target, David A. Talbot) has amended the terms of its loan facility with Extract Advisors LLC (agent for the lenders). Under the new agreement, Laramide has repaid US$1M to reduce the outstanding facility from US$4.5M to US$3.5M. The maturity date has been extended by two years to 31-Mar/25 with no prepayment before the maturity date. The loan can be converted to shares priced at C$0.40/sh after September 2023, should the stock price trade at C$1.00/sh for ten consecutive days on a VWAP basis. Meanwhile, work is underway for PEA at its 100%-owned Crownpoint/Churchrock uranium ISR project in New Mexico (read more). Assays remain pending from recent drilling at Crownpoint as well as its flagship Westmoreland uranium project in Australia. As news flow rises, we believe investors will begin to see the potential upside from this company as Laramide has a serious project pipeline, including 66.2M lb U3O8 in the SW USA with near-term production potential, and 51.9M lb U3O8 in Queensland, Australia. Read more
Company Specific Disclosure Details
Laramide Resources Ltd. – TSX:LAM – 1,2
- The analyst has visited the head/principal office of the issuer or has viewed its material operations.
- The issuer paid for or reimbursed the analyst for a portion, or all of the travel expense associated with a visit.
- In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services for the issuer.
- In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or an analyst involved in the preparation of the research report has provided services other than in the normal course investment advisory or trade execution services to the issuer for remuneration.
- An analyst who prepared or participated in the preparation of this research report has an ownership position (long or short) in, or discretion or control over an account holding, the issuer’s securities, directly or indirectly.
- Red Cloud Securities Inc. and its affiliates collectively beneficially own 1% or more of a class of the issuer’s equity securities.
- A partner, director, officer, employee or agent of Red Cloud Securities Inc., serves as a partner, director, officer or employee of (or in an equivalent advisory capacity to) the issuer.
- Red Cloud Securities Inc. is a market maker in the equity of the issuer.
- There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared or participated in the preparation of the research report, and the issuer.
Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.