Laramide Narrows H1 Loss to $1.05M, Boosts Equity with $12M Private Placement

Financial Performance and Capital Structure

Laramide Resources Ltd. has released its unaudited interim financial statements for the six months ended June 30, 2025, showing a net loss of CAD 1,052,886. This marks a significant improvement compared to the prior year’s loss of CAD 3.6 million for the same period, reflecting tighter cost control and strategic financial management amid ongoing exploration activities.

The company’s balance sheet reveals total assets of CAD 116.7 million and shareholders’ equity of CAD 108.9 million. However, it reported a working capital deficiency of CAD 1.06 million, a reversal from a surplus at the end of 2024, highlighting short-term liquidity pressures that the company is actively managing.

Debt Conversion and Equity Raise

A key highlight was the conversion of USD 3.5 million (approximately CAD 5.06 million) of convertible debt held by Extract Advisors LLC into 12,644,625 common shares at a conversion price of CAD 0.40 per share. This transaction, completed in March 2025, effectively eliminated the convertible debt from the balance sheet and strengthened the equity base.

Further bolstering its capital position, Laramide closed a non-brokered private placement on July 31, 2025, issuing 20 million shares at CAD 0.60 each, raising gross proceeds of CAD 12 million. The company paid a cash commission and issued broker warrants as part of this placement, signaling strong investor interest and providing additional liquidity for exploration and development.

Exploration and Asset Development

Laramide continues to focus on uranium exploration across its key projects in Australia, the United States, and Kazakhstan. During the period, the company capitalized CAD 3.4 million in mineral property additions, primarily at the Westmoreland Project in Queensland, Australia, and other strategic sites including Grants District and Churchrock in the USA, and the Chu-Sarysu Project in Kazakhstan.

Notably, in August 2025, Laramide received approval for a Mineral Development Licence for the Westmoreland Uranium Project, securing a more stable ownership position and enabling continued development. This regulatory milestone is a critical step toward advancing the project toward production readiness.

Governance and Risk Management

Management confirmed the effectiveness of internal controls over financial reporting and disclosure controls as of June 30, 2025. The company adheres to International Financial Reporting Standards and maintains rigorous oversight through its Audit Committee and Board of Directors.

However, Laramide faces ongoing contingencies, including a notification from the U.S. Environmental Protection Agency regarding potential cleanup responsibilities at the Old Churchrock Mine Site. While the financial impact remains uncertain, this environmental liability underscores the regulatory risks inherent in uranium exploration and mining.

Additionally, the company acknowledges potential native title claims in Australia and other legal and tax matters, though management currently assesses these as unlikely to materially affect financial statements.

Outlook and Strategic Considerations

With a strengthened capital structure following debt conversion and equity raise, Laramide is positioned to advance its exploration and development agenda. The company’s ability to manage short-term liquidity challenges and navigate regulatory complexities will be critical as it seeks to unlock value from its uranium assets amid a fluctuating commodity market.