The placement, organised by Bell Potter Securities and Taylor Collison, is primarily directed at the company's revived intertest in the 47 million pound Samphire uranium project in South Australia, including resource drilling and ANSTO testing to support next year's scoping study and a planned in-situ field leach trial at the Blackbush deposit that is expected to run into 2023.

 

In May, Alligator managed to secure the support of global commodities trader Traxys, which provide marketing services for future uranium production, long-term offtake contracting, development financing options, and assistance in uranium project acquisition opportunities.

 

Traxys can deliver a structured pre-production payment of up to US$15 million as Alligator advances to development.

 

Smaller amounts of funding will be directed to earlier stage geophysics survey at the Nabarlek North project and drilling at adjacent to the high grade U40 prospect in the Northern Territory; on SA's Big Lake uranium project within the Cooper Basin; and the Piedmont nickel-cobalt-copper-gold-PGM project in Italy, where it is looking for strategic partners.

 

CEO Greg Hall said there was demonstrated support for the company's strategy within a changing uranium market. 

 

The placement was completed under its 25% approved capacity, which was refreshed in June. 

 

Alligator's stock has traded between A0.4-4.9c over the last year. The shares today eased 5% to 3.4c, capitalising the company at $86 million.