Alligator Energy secures substantial cash runway to advance uranium assets
Melbourne, Victoria
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September 21, 2023 01:30 PM Eastern Daylight Time
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.”
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Proactive Investors
Jonathan Jackson
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