The Brisbane-based Alligator Energy Limited (ASX: AGE) is a mineral exploration company in Australia, with a primary bent towards uranium and other energy mineral deposits like cobalt-nickel. It holds interest in the Tin Camp Creek and Beatrice projects, spanning approximately 650 km2 in the Alligator Rivers Uranium Province in Arnhem Land, Northern Territory. In addition, Alligator Energy holds around 70% earning interest in the Piedmont sulphide cobalt – nickel project in Northern Italy, through a binding Heads of Agreement signed with Chris Reindler and Partners (CRP) in January 2018.
On April 4th, 2019, Alligator released an update on the Strategic Review and Next Steps associated with its current projects. The company has achieved major headways in understanding the regional geological framework of the Alligator Rivers Uranium Province (ARUP), directly affecting the targeting strategy moving forward.
Currently, it is exploring West Arnhem for potential and economically viable uranium deposits within the ARUP. The company has also compiled all available historical and AGE derived data to integrate all the work and re-interpret the Ranger and Jabiluka deposits into the forward exploration strategy. A one and three-year plans have been formulated to allow systematic considered exploration.
Besides, a new application EL32075 covering 16.26 km2 has also been confirmed adjacent to the existing Narbarlek North applications, which further improves AGE’s ARUP holdings. The identification of, and early discussions with potential strategic partners have commenced implementing a sustained longer-term approach.
Meanwhile, for the Piedmont Project, Alligator completed the phase 1 groundwork under the farm-in arrangement with Chris Reindler and Partners and had elected to move to phase 2, as announced in November 2018. The company considers this site prospective for Fe-Ni-Cu-Co massive sulphide deposits in gabbroic and mafic rocks.
Also, in 2018, the company assigned the task for desktop review to a world-leading nickel expert, revealing regional prospectivity and suggesting further work required on the project. Recently, an analysis of the currently available geophysical data was completed, implying an encouraging relationship between the mapped and known geology and airborne EM data. Alligator is now progressing with the technical documentation to engage and discuss with potential strategic partners and investors for the same.
On March 11th, 2019, the company released its half-yearly report for the period ended December 31st, 2018, posting the total expenditure on fieldwork, including the TCC4 drilling program, at around $1.28 million, quite higher than $319,527 in the prior corresponding period (PCP) ended December 31st, 2017.
The loss attributable to members of the parent entity amounted to around $6.08 million compared to $394,906 in PCP. At the end of the concerned period, the net assets were valued at $9.14 million including net cash and cash equivalents of ~ $1.24 million. There were net cash outflows of $318,615 and $1.45 million from operating and investing activities respectively. Meanwhile, the financing activities generated net cash inflows of $ 1.60 million primarily on account of proceeds from the issue of shares.
Alligator Energy has a current market valuation of ~ AUD 4.04 million with ~ 1.01 billion outstanding shares. The AGE stock last traded on April 1st, 2019 at AUD 0.004 as on April 4th, 2019.
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