Alligator Energy Limited (ASX: AGE) has announced it has secured firm commitments to raise A$15 million before costs through a placement to institutional and sophisticated investors. The placement will issue 333,333,334 new fully paid ordinary shares at an offer price of A$0.045 per share. Alligator Energy is a uranium project development and exploration company with projects that have clear pathways for approval and development. The placement received strong support from both existing and new institutional investors across Australia and overseas, which is expected to strengthen the company’s share register.
In addition to the placement, Alligator Energy will conduct a Share Purchase Plan (SPP) for eligible shareholders, aiming to raise up to a further A$3 million. The SPP will be offered at the same price of A$0.045 per new share as the placement. The combined funds from these capital raising initiatives, along with existing cash reserves, are designated to advance several key work programs. This includes supporting further resource drilling programs at Blackbush, Plumbush, and the corridor between these deposits, as well as completing the current drill program at the Big Lake project to support an exploration target estimate in 2027.
A significant portion of the raised capital will also be allocated to the Samphire Uranium Project. This includes progressing the mining lease application and advancing the project’s feasibility study, which is targeted for completion in Q3 2027. Alligator’s CEO, Andrea Marsland-Smith, noted that the strong support from investors is a clear endorsement of the quality of the Samphire Uranium Project and Alligator’s broader growth strategy. She added that these funds position Alligator to advance Samphire through its next phase of growth, focusing on expanding the resource base and delivering key Feasibility Study outcomes, while continuing exploration at Big Lake.
