Alligator Energy secures substantial cash runway to advance uranium assets
September 21, 2023 at 06:31 pm
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Alligator Energy Ltd (ASX:AGE) CEO Greg Hall speaks with Proactive following the news the company has raised $25.5 million via a share placement that was strongly supported by high net worth and institutional shareholders, both in Australia and overseas. Placement proceeds will assist the company evaluate and fund potential future uranium and energy mineral opportunities. They will also enable Alligator to enhance work programs at the Samphire Uranium Project in South Australia next year, where key upcoming activities include a feasibility study and mining lease application, and an expanded resource drilling and geophysics program.
Hall said, “Alligator Energy is very pleased to be able to raise these funds to enable the completion of important future steps towards production at the Samphire Uranium Project, beyond the planned Field Recovery Trial (FRT) early next year.
"Based on successful results from the FRT, the funds will be targeted through 2024 towards significant Samphire uranium resource growth, feasibility study, Mining Lease application for approval of the initial economic project, and initial supportively priced and structured uranium offtake agreements.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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Alligator Energy Limited is an Australian exploration company focused on uranium and energy related minerals, principally cobalt and nickel. The Company's projects include Samphire, Big Lake, Alligator Rivers (ARUP) and Piedmont. The Samphire Project is located 20 kilometers south of Whyalla in regional South Australia and contains inferred resources totaling 47 million pounds amenable to in situ recovery (ISR). The Samphire Project includes uranium historical prospects (Blackbush and Plumbush). It owns 100% of the Big Lake Uranium Project in the Cooper Basin, South Australia, a project targeting discovery of Australia's ISR uranium field. The ARUP Project contains multiple uranium targets, which includes the Caramal uranium resource bearing around 6.5 million pounds of uranium at a high-grade of 3,100 parts per million. The Piedmont Project is located in Northern Italy, containing multiple historic copper, cobalt and nickel mines with notable gold and platinum group element credits.