Highlights

  • Alligator Energy Limited (ASX:AGE) traded at AUD 0.035 on 11 November 2026, down 5.41% for the session.
  • Samphire field testing reported approximately 70% recovery in one representative test pattern.
  • Drilling in 2026 examined the Blackbush and Plumbush areas.
  • The October 2026 project presentation described development as subject to feasibility, financing and approvals.

Alligator Energy Limited (ASX:AGE) explores and evaluates uranium Assets in Australia, led by the Samphire project in South Australia and exploration at Big Lake. In the 11 November 2026 session, Alligator Energy Limited (ASX:AGE) was down 5.41% at AUD 0.035. The latest 2026 reports place emphasis on what the 2026 field trial demonstrated, alongside operating, funding and approval questions relevant to the company’s assets.

Samphire and Exploration Operations

For Alligator Energy Limited (ASX:AGE), alligator’s Samphire uranium project contains the Blackbush and Plumbush areas in South Australia. The company is assessing how the mineralisation could be developed using in-situ recovery, a method whose viability depends on permeability, solution movement and metallurgical recovery as well as uranium grade. Its Big Lake exploration program in the Cooper Basin represents a separate earlier-stage activity. Exploration drilling, field recovery trials and a feasibility study answer different technical questions, and none individually establish that commercial Mining has commenced.

What the 2026 Field Trial Demonstrated

For Alligator Energy Limited (ASX:AGE), during 2026, Alligator reported field recovery testing at Samphire in two test patterns. A pattern representative of the proposed Blackbush development area achieved approximately 70% uranium recovery after about 70 pore-volume exchanges. A second, lower-grade and lower-permeability pattern reached about 17% after 15 exchanges over 54 days. The second pattern’s eventual recovery cannot be assumed from an extrapolated trend. The trials offer technical inputs into the ongoing feasibility study, while commercial-scale costs, recovery consistency and operating parameters remain to be demonstrated.

Drilling, Resources and Schedule

The September 2026 quarterly update described continuing delineation drilling across Blackbush and Plumbush, with work expected to continue into the December quarter. The October company presentation indicated an updated Samphire mineral resource estimate was planned by 30 June 2027, with final results from a portion of the 2026 drilling expected in early 2027. Big Lake results from a further 33 holes were also expected in November 2026. These are planned reporting milestones rather than completed resource upgrades or a commitment to proceed with construction.

Approvals, Funding and Development Risks

Samphire remains an evaluation-stage project. The company’s October timetable explicitly made development conditional on a positive feasibility study, a final Investment decision, funding, a mining Lease and other approvals. Field trials reduce some technical uncertainty but cannot remove risks from wellfield scale-up, groundwater management or uranium recovery. Updated resource estimates must be interpreted with their categories and reporting assumptions. The next set of results will be useful for judging resource continuity and whether the technical work supports the proposed development sequence.

Key Insights

Alligator Energy Limited (ASX:AGE) — Alligator’s 2026 work has progressed drilling and in-situ recovery testing at Samphire, but production remains conditional. Investors can monitor the feasibility study, further drill assays, resource updates and the approvals sequence without interpreting indicative dates as firm commitments.