Alligator Energy (ASX:AGE) has successfully secured commitments to raise $17.25 million, earmarked for extending work programs at its Samphire Uranium Project throughout 2025 and 2026. This initiative runs parallel with the company’s Samphire Field Recovery Trial (FRT). The funding will be facilitated through the issue of 556 million shares at $0.031 each, with an offering of one option for every two shares issued, exercisable at $0.047, subject to shareholder approval. Bell Potter Securities and Taylor Collison acted as joint lead managers for the placement.
Alligator Energy is an Australian uranium exploration and development company focused on delivering value to shareholders through responsible project development. The company is focused on its flagship Samphire Uranium Project. CEO Greg Hall stated that the raised capital is crucial for completing current exploration activities. Remaining funds will be strategically allocated to extend operations beyond the FRT and into a Definitive Feasibility Study.
Hall added that the company anticipates a stream of value-enhancing news flow in conjunction with positive uranium price trends. The uranium price has shown a 7.7% increase over the past month, reaching US$77.55 per pound as of June 24. This positive momentum is further supported by Sprott Physical Uranium Trust’s intent to purchase US$200 million of physical uranium, reflecting increased market focus on uranium pricing year-to-date.
Alligator Energy is set to participate in the Noosa Mining Investor Conference from July 23-25 at the Peppers Noosa Resort, providing an opportunity for investors to learn more about the company’s strategic direction and project advancements.
