Alligator Energy has secured $15 million through a strongly supported institutional placement, with a further $3 million Share Purchase Plan set to give existing shareholders the opportunity to participate.
The capital raise positions the company to accelerate drilling, grow the Samphire Uranium Project resource, advance permitting and push the project towards a targeted feasibility study in Q3 2027.
Resource growth remains the priority
A significant portion of the funding will support expanded drilling across Blackbush, Plumbush and the corridor between the two deposits.
The program follows a string of major milestones, including a 67% increase in the Samphire resource to 30Mlbs U₃O₈, successful completion of the Field Recovery Trial and recent drilling that extended uranium mineralisation 600m south of Blackbush.
The current campaign is expected to increase the mining inventory while upgrading portions of the Plumbush resource from Inferred to Indicated ahead of the feasibility study.
Figure 1: Alligator’s growth strategy at the Samphire Uranium Project.
Feasibility work ramps up
Beyond drilling, the fresh funding will support the Samphire Mining Lease Application and completion of the Definitive Feasibility Study, targeting delivery in the third quarter of 2027.
The company will also continue exploration at its Big Lake Project, where drilling is expected to underpin an Exploration Target in 2027.
CEO Andrea Marsland-Smith said the strong institutional backing reflects confidence in both Samphire and the company’s broader growth strategy, and will allow the company to deliver “the key milestones that move Samphire closer to development.”
2030 production pathway takes shape
With the Field Recovery Trial now complete, feasibility studies underway and drilling continuing through late 2026, Alligator is steadily de-risking what it hopes will become Australia’s next ISR uranium operation.
The company continues to target first production in 2030-31, while also exploring the broader potential of the Big Lake uranium basin.
