Laramide Resources (ASX:LAM) engaged engineering firm Lycopodium (ASX:LYL) to update the preliminary economic assessment for its Westmoreland project in Queensland, according to a Friday filing with the Australian bourse.

The updated study, expected to be completed in the first half of the year, will reflect current uranium pricing assumptions, revised capital and operating cost inputs, as well as the expanded resource base, the filing said.

Lycopodium authored the company's 2016 assessment for the project, per the filing.

Lycopodium fell more than 1% in morning trade on Friday.