Laramide Comments on Section 232 Uranium Investigation

Uranium company Laramide Resources (TSX:LAM,ASX:LAM) has released an announcement regarding the recent appointment Raffi Babikian to its board of directors. The statement also includes the company’s comment on the recently completed Section 232 investigation into uranium imports by the US Department of Commerce.

As quoted from the press release:

Laramide President and CEO Marc Henderson stated, ” “It is a potentially very opportune time for shareholders in uranium companies as years of under investment in potential future supply have created an unsustainable supply /demand balance that is likely to be resolved by higher uranium prices, regulatory action, or both.” In this regard, Laramide notes the completion last week of the US Department of Commerce’s (DOC) investigation into the national security implications of reliance on imported uranium. This “Section 232” investigation resulted in a confidential report and set of recommendations which have been forwarded by DOC to the White House. The President now has 90 days to decide whether to take action on the matter, a timeline which concludes on July 14, 2019.

Click here to read the full announcement