Highlights

• Samphire Uranium Project in South Australia advancing with in-situ recovery (ISR) development work

• Raised A$15 million through a Placement with an additional share purchase plan launched for retail investors

• Development work focused on demonstrating ISR performance and advancing the project toward future production

• Well-positioned within Australia's uranium sector with a Tier 1 Jurisdiction and supportive government policies

Alligator Energy Limited (ASX:AGE) is an ASX-listed uranium company developing the Samphire Uranium Project in South Australia, targeting in-situ recovery (ISR) uranium extraction from shallow, sandstone-hosted uranium mineralisation near the coastal town of Whyalla. ISR uranium Mining involves injecting a leaching solution into a uranium-bearing aquifer and recovering the pregnant solution through production wells — a technique well-established globally for uranium recovery with lower Capital intensity and surface disturbance than conventional open-pit or underground mining. Samphire is being positioned as a future domestic uranium producer in one of the world's most uranium-endowed countries.

Latest Developments

Alligator Energy continues progressing the Samphire Uranium Project in South Australia, with development work focused on demonstrating in-situ recovery performance and advancing the project toward future production. The company also raised A$15 million through a placement and launched a further share-purchase plan, providing additional funding for exploration, development and project advancement.

Industry Context

South Australia has historically been one of the most important uranium producing states in Australia, hosting the Olympic Dam (BHP) and Beverley/Four Mile operations alongside Roxby Downs. The state government supports uranium mining, and the regulatory framework for ISR uranium development is well-established. Australia's federal uranium policy allows mining and export, and the current uranium Market Cycle — with spot prices sustaining at levels significantly above the cost of production — has renewed interest in Australian uranium development projects. ISR uranium has particular advantages in low-permeability sandstone systems where Samphire's mineralisation occurs.

Key Risks

• ISR technical risk — demonstrating commercial uranium recovery rates from Samphire's specific geological setting

• Uranium price Volatility could affect the project Economics if prices decline from current elevated levels

• Aquifer management and water licence requirements in South Australia's regulatory environment

• Development capital requirements beyond the current $15m raise for full project construction

• Australian federal government uranium export policy — while currently supportive, policy changes could affect the regulatory environment

Key Catalysts to Watch

• ISR field trials demonstrating commercial uranium recovery rates and validating the production methodology

• Resource estimate expansion confirming additional uranium inventory beyond current estimates

• Project financing or strategic Partnership with a uranium trader, Utility or major uranium company

• Uranium Spot Price remaining at elevated levels, improving Samphire's development economics

• South Australian government continued support for uranium development, including regulatory facilitation

Conclusion

Alligator Energy (ASX:AGE) is methodically advancing the Samphire ISR uranium project in a supportive regulatory environment and excellent uranium market conditions. The A$15m raising and share purchase plan provide the funding runway for continued ISR development work. For investors seeking ASX exposure to the uranium market through an Australian ISR development project in a Tier 1 jurisdiction, Alligator Energy's Samphire project development progress is the key metric to monitor.