Alligator Energy completes $10.7 million placement to accelerate key projects

Alligator Energy Ltd (ASX:AGE) has completed the issue of new shares for the A$10 million placement to institutional, sophisticated and professional investors.

The placement allows the company to undertake key work on the Samphire Project this year and extend and expand this into further advanced pre-development project work during 2022/23.

The additional funds will also enable the company to fast-track work on the key target project in the Alligator Rivers Uranium Province (ARUP).*Samphire Uranium Project*

Since the launch of placement, Alligator has made progress at the Samphire Uranium Project by taking key steps including:

· The engagement of three experienced uranium resource geologists to progress detailed planning for resource drilling on Blackbush, which is expected to start in late September/ October;
· The engagement of AMC Consultants to provide technical guidance for resource upgrade work;
· The initiation of discussion with a drilling company and has received quotes;
· Building SA-based team to take the project forward and lessen the impact by COVID-19; and
· Key stakeholder engagement is underway.