Samphire Uranium Project Faces Key Approvals and Drilling Risks Despite Capital Raise
Alligator Energy has completed a $17.25 million placement to fund critical development and exploration activities at its Samphire Uranium Project in South Australia, setting the stage for key milestones through 2026.
- Raised $17.25 million via placement to institutional and sophisticated investors
- Funds allocated to Field Recovery Trial, feasibility study, and mining lease applications
- Resource drilling planned to extend Blackbush and Plumbush uranium deposits
- Environmental approvals and site construction targeted in second half of 2025
- Engagement with nuclear utilities for potential offtake contracts during 2026
Capital Raise to Accelerate Development
Alligator Energy Limited (ASX, AGE) has successfully raised $17.25 million through a placement of over 556 million shares to institutional and sophisticated investors. This capital injection provides the company with an extended financial runway to advance its flagship Samphire Uranium Project near Whyalla, South Australia. The placement shares were allotted on 30 June 2025 and will commence trading on the ASX from 1 July.
Focused Use of Funds on Key Project Milestones
The funds will be strategically deployed to progress Samphire from exploration into development phases. This includes conducting a Field Recovery Trial (FRT) with allowances for extended testing if necessary, initiating a definitive feasibility study, and commencing mining lease applications. The company anticipates receiving final environmental approvals for the FRT program in July, with site construction slated for August and September, followed by commissioning and operation through the final quarter of 2025.
Expanding Resource Potential
Alongside development activities, Alligator Energy plans to advance exploration and resource drilling programs. Key targets include extending the Blackbush deposit to the south and infill drilling at the Plumbush prospect to tighten drill spacing. These efforts aim to enhance the resource base, which currently includes an indicated mineral resource of 14.2 million pounds of uranium oxide at Blackbush, with further potential identified at Plumbush and the recently discovered Big Lake area.
Stakeholder Engagement and Offtake Discussions
Recognising the importance of community and regulatory relationships, the company will maintain ongoing engagement with indigenous groups, regional stakeholders, and environmental regulators to ensure a low-impact project footprint. Concurrently, Alligator Energy intends to explore initial conditional offtake contracts with nuclear utilities during the feasibility study phase in 2026, positioning the project for future commercialisation.
Looking Ahead
With engineering consultants targeted for appointment by late 2025 and mining lease applications underway, Alligator Energy is methodically advancing Samphire towards production readiness. The company’s approach balances technical progress with environmental stewardship and market engagement, reflecting the growing strategic importance of uranium in the global energy transition.
Bottom Line?
Alligator Energy’s capital raise sets a clear path to unlock Samphire’s uranium potential, but execution of approvals and drilling results will be critical next steps.
Questions in the middle?
- Will environmental approvals for the Field Recovery Trial be granted on schedule in July?
- How will drilling results from Blackbush and Plumbush impact the overall resource estimate?
- What terms might emerge from initial offtake discussions with nuclear utilities in 2026?
