A Tier-One Developer Positioned for the Uranium Supply Squeeze

Source: John Newell 02/26/2026

John Newell of John Newell & Associates reviews Laramide Resources Ltd. (LAM:TSX; LMRXF:OTCQX: LAM:ASX) to explain why he views the company as a Speculative Buy.

The uranium market is no longer a “future demand” story. It has become a visible supply problem. The latest fuel market projections presented at the World Nuclear Association point to accelerating demand, shrinking inventories, and a structural deficit developing through the 2030s. Term prices have steadily trended higher over the past several years, reflecting tightening fundamentals rather than speculative excess. At the same time, governments are openly framing uranium as a strategic mineral critical to energy security.

Against that backdrop, Laramide Resources Ltd. (LAM:TSX; LMRXF:OTCQX: LAM:ASX) stands out as a multi-asset uranium developer with advanced projects in two tier-one jurisdictions: the United States and Australia.

The Macro Backdrop: Supply Is the Issue

Uranium demand is not theoretical. It is visible, contracted, and measurable. Existing reactor fleets require fuel today. New build programs in China, the Middle East, and parts of Europe extend that curve outward. Small modular reactor (SMR) designs are attracting policy and capital support, reinforcing the long-term growth profile.

What makes this cycle different is supply concentration.

A handful of producers dominate global output, with Kazakhstan, Canada, Namibia, Australia, and Uzbekistan controlling most of the mined supply. Meanwhile, many of the countries with the largest nuclear fleets, including the United States, France, South Korea, and Japan, produce little uranium domestically.

This imbalance creates geopolitical vulnerability. Post-2028 U.S. unfilled uranium requirements are projected to expand materially, and domestic supply is currently a fraction of national consumption. Energy security is no longer an abstract policy concept. It is becoming operational.

That context matters for developers with permitted, scalable projects inside Western jurisdictions.

A Diversified Global Portfolio

Laramide’s portfolio reflects a strategic approach built around long-life assets in stable regions.

In the United States, the company’s core development platform is the Churchrock–Crownpoint ISR Project in New Mexico. This project carries a full Nuclear Regulatory Commission (NRC) license covering both Churchrock and Crownpoint units and has received FAST-41 designation, placing it within a federal framework intended to improve permitting coordination and transparency.

The project hosts a combined resource inventory of approximately 55 million pounds U₃O₈ amenable to in-situ recovery (ISR). ISR mining offers lower surface disturbance and typically lower capital intensity relative to conventional hard-rock mining, making it particularly relevant in a supply-constrained environment.

The corporate roadmap outlines targeted feasibility advancement and final investment decision milestones in 2026–2027, with construction and initial production contemplated thereafter.

In Australia, Laramide controls Westmoreland in Queensland, one of the largest undeveloped uranium projects globally. The current resource base includes 48.1 million pounds Indicated and 17.7 million pounds Inferred, positioning the asset as a potential long-life, large-scale supply source once policy alignment is achieved.

Westmoreland provides scale. Churchrock–Crownpoint provides a nearer-term pathway. Together, they create optionality across two continents.

Development Strategy

The company’s strategy is structured in phases.

Near-term emphasis remains on ISR development in New Mexico. The combination of NRC licensing, FAST-41 framework inclusion, and U.S. policy support for domestic uranium production gives the project strategic relevance beyond its standalone economics.

Production from Churchrock is referenced as scalable from approximately 1 million pounds per year, with expansion potential. In an environment where utilities are increasingly focused on contract security, having permitted ISR capacity inside the United States carries weight.

Westmoreland represents the second phase of growth. As policy clarity improves in Queensland, updated economic work and engineering refinement are expected to advance the project toward development readiness. Its size and grade profile position it as a potential long-term supplier to utilities seeking multi-decade contract coverage.

In addition to these flagship assets, Laramide holds pipeline projects in New Mexico and exploration ground in Australia’s Northern Territory, creating internal growth optionality.

Corporate Snapshot

As of the January 2026 corporate presentation, Laramide reports approximately 284 million shares outstanding and 12 million options outstanding, with roughly CA$6.5 million in cash and a market capitalization near CA $170 million at the time of disclosure.

The shareholder base includes Boss Energy at 19.6%, CEO Marc Henderson with approximately 8%, ETFs holding roughly 17%, and other institutional investors at about 10%. The capital structure is relatively clean, and meaningful insider ownership helps align management with long-term equity performance.

Technical Structure

The updated long-term chart reflects a constructive base formation.

Price has been carving a sequence of higher lows, suggesting accumulation rather than distribution. Resistance from prior peaks remains overhead, but the narrowing range indicates compression.

The current structure implies three potential upside objectives if the breakout confirms: CA$1.05, followed by CA$1.25, and then CA$1.60. A decisive breakout above the descending resistance trend, supported by expanding volume, would signal that a new phase of the cycle may be underway.

Until that confirmation occurs, the higher-low structure remains the primary technical indicator to monitor.

Conclusion

Laramide Resources (LAM:TSX; LMRXF:OTCQX; LAM:ASX) represents a Speculative Buy at the current price of ~CA$0.80 cents, for investors seeking leverage to tightening uranium fundamentals through advanced-stage assets in tier-one jurisdictions.

The uranium market’s structural supply gap is becoming increasingly visible. Developers with permitted, scalable projects inside energy-secure jurisdictions are positioned to benefit disproportionately if utilities accelerate contracting or if government-backed strategic procurement expands.

With a defined U.S. ISR pathway and large-scale Australian optionality, Laramide offers exposure to both near-term development milestones and long-term supply leverage.

Investors looking for more information can visit the company website: here.

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Important Disclosures:

1. Laramide Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
2. For this article, the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,050.
3. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
4. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

( Companies Mentioned: LAM:TSX; LMRXF:OTCQX: LAM:ASX, )

Source: https://www.streetwisereports.com/article/2026/02/26/a-tier-one-developer-positioned-for-the-uranium-supply-squeeze.html