Highlights

·       Alligator Energy shares rose 4.65% on 17 February 2026, extending yearly gains to 50%.

·       Samphire pilot plant commissioning completed within schedule and budget.

·       Field recovery trial to begin next week with uranium extraction targeted.

·       First recovery results anticipated in late March 2026.

·       Drilling programs at Samphire and Big Lake set to commence this quarter.

Alligator Energy Ltd (ASX:AGE) shares advanced 4.65% to AUD 0.045 during the afternoon session on 17 February 2026, extending gains that have lifted the stock roughly 50% over the past year. The latest move follows confirmation that commissioning activities at the Samphire Uranium Project’s pilot plant have now been completed, clearing the path for live trial operations. The update signals a shift from construction into operational execution at Samphire, with field recovery activities set to commence shortly.

Commissioning Milestone Clears Path to Operations

Alligator confirmed that both dry and wet commissioning of the Field Recovery Trial (FRT) pilot plant have been finalised. The work was completed in line with the project timetable and within budget parameters, marking the final technical step before operations begin.

With commissioning concluded, the plant is scheduled to be energised as final preparations are undertaken. The full operations team has been recruited and inducted, positioning the site to transition into active field recovery operations.

The first test pattern pre-conditioning phase is expected to start next week in preparation for uranium extraction. Initial field recovery results are anticipated in late March 2026, providing early operational data from the trial.

Four-Month Trial to Generate Technical Data

The FRT is designed to run for approximately four months, producing a steady stream of operational and technical information. The program aims to validate recovery performance and operating parameters, supporting future development decisions at the Samphire project.

This trial phase represents a critical step in advancing the project beyond construction and commissioning, with results expected to inform subsequent feasibility and permitting processes.

Parallel Workstreams Expand Activity

Alongside the FRT, the company is progressing multiple initiatives across its uranium portfolio. Plans include upgrading the Samphire Mineral Resource Estimate to incorporate the Plumbush satellite prospect.

In addition, drilling programs are scheduled to begin this quarter at both Samphire and the Big Lake project, subject to weather conditions. These activities are intended to run concurrently with the trial operations.

Collectively, the commissioning completion, trial commencement, and expanded exploration efforts indicate an increase in operational momentum as the company advances resource growth, feasibility work, and mining lease permitting activities.

Management Perspective on Operational Transition

Chief Executive Officer Andrea Marsland-Smith described the completion of commissioning as a significant milestone achieved in accordance with the timeline previously communicated to the market. She noted that the readiness of the plant and the establishment of a fully staffed site enable the company to move into field recovery operations.

Marsland-Smith also highlighted that the coming months are expected to involve sustained activity, with the field recovery trial, resource updates, and expanded drilling programs progressing in parallel as the company transitions into its next development phase.

FAQs

Why did Alligator Energy shares rise on 17 February 2026?

The stock gained after the company confirmed completion of commissioning at its Samphire pilot plant.

When will uranium extraction begin at Samphire?

Test pattern pre-conditioning is expected next week, with uranium extraction to follow and initial results targeted for late March 2026.

How long will the Field Recovery Trial operate?

The FRT is planned to run for approximately four months, generating operational and technical data.