Alligator Energy Ltd. has raised AU$15 million through a share placement, boosting capital to accelerate its Samphire uranium project in South Australia.
The company issued 333,333,334 new fully paid ordinary shares at a price of 4.5 cents per share.
To complement the placement, Alligator is offering existing eligible shareholders across Australia and New Zealand the opportunity to participate in a non-underwritten share purchase plan (SPP) at the same offer price, targeting up to an additional AU$3 million.
Alligator CEO Andrea Marsland-Smith stated the strong institutional support validates the company’s development pathway and growth strategy.
“These funds place Alligator in a strong position to advance the Samphire Uranium Project through its next phase of growth,” Marsland-Smith said.
“We will be focused on expanding the resource base, progressing the mining lease application, and delivering key feasibility study outcomes that continue to de-risk the project and move it closer to development.”
Proceeds from the capital raise will fund resource expansion drilling across the Blackbush and Plumbush deposits, alongside the connecting corridor.
Capital will also support the ongoing Samphire Feasibility Study, targeted for completion in the third quarter of 2027, and progress the project’s mining lease application.
Alligator Energy is planning an accelerated drilling program at Samphire from July to November to increase the mineral resource estimate. After 2026, the company will continue exploring the region outside of the Blackbush-Plumbush corridor.
Production for Samphire is targeted for 2030 to 2031, with construction set for 2029 to 2030 pending the approval of the mining lease and the final investment decision.
In addition to Samphire, Alligator will deploy funds toward its Big Lake exploration program to support an initial exploration target estimate in 2027. New shares under the placement are expected to settle on August 12, with the SPP offer booklet releasing on August 13.
