Name of the Project
Samphire uranium project.

Location
South of Whyalla, South Australia.

Project Owner/s
Alligator Energy.

Project Description
A scoping study has confirmed the potential development of the Samphire (Blackbush deposit) project as a globally competitive, low-cost uranium operation using in situ recovery.

The study estimates life-of-mine production at ten-million pounds of uranium over 12 years, with a production target of one-million pounds a year for eight years, including ramp up and ramp down.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a midpoint ungeared, real pretax net present value, at an 8% discount rate, of A$185-million and an after-tax internal rate of return of 29%, with a payback of 3.5 years from the start of production.

Capital Expenditure
A$129.3-million.

Planned Start/End Date
The project has a production period of 18 months.

Latest Developments
Alligator Energy announced on September 20 that it would raise A$25.5-million in a share placement to institutional and sophisticated investors to fund work at its Samphire uranium project.

The company has said it has received firm commitments for the placement of 491-million shares, at 5.2c each, with one free attaching option to be issued for every two new shares, exercisable at 7.8c a share and with a two-year expiry date.

The shares will be issued under Alligator’s existing placement capacity, and will not require shareholder approval.

The issue of the options, however, is subject to shareholder approval at a meeting currently scheduled for November 24.

In addition to the share placement, Alligator will also undertake a share purchase plan (SPP), aimed at raising a further A$3-million, and also priced at 5.2c each. The SPP will open on September 26 and close on October 17.

“Based on successful results from the [planned] field recovery trial, the funds will be targeted through 2024 towards significant Samphire uranium resource growth, feasibility study, mining lease application for approval of the initial economic project, and initial supportively priced and structured uranium offtake agreements,” CEO Greg Hall states.

Key Contracts, Suppliers and Consultants
Wallbridge Gilbert Aztec (process design and engineering).

Contact Details for Project Information
Alligator Energy, tel +61 7 3839 3904 or email info@alligatorenergy.com.au.