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Alligator Energy (ASX:AGE) has begun installing its in-situ recovery pilot plant at the Samphire Uranium Project near Whyalla after delivery this week, inching the company one step closer to a Field Recovery Trial on-site.
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The company’s already started mechanical, electrical, and pipework installation after earthmoving and bund installation was recently completed. The drilling of recovery well patterns in areas A and B are all done, too, Alligator confirmed; only some civil works remain for the producer to round out.
“The arrival of the pilot plant and completion of the recovery well patterns mark another strong milestone for Samphire,” said Alligator’s CEO, Andrea Marsland-Smith.
The biggest selling point for Alligator is that it’s now – or will be once the pilot plant is running – set up as “one of only a handful of uranium developers with a project advancing towards near-term production in Australia.”
While that sounds particularly buzzy, the ASX market was more inclined to shrug at the developments: By 10:30am, the dial had barely moved.
In fact – AGE shares are still at 2.7c each at time of writing, without change.
The $119 million company is on the smaller size, but usually sees at least modest share volume throughout the day. Today, there’s been $47K in turnover.
It may simply be that any potential investors are waiting, of course, with all that aforementioned mechanical, electrical, and pipework installation at Samphire still midway through its timeline on November 4.
Even the company is looking forward more than anything today, too, with Ms Marsland-Smith making sure to point out everything on the boil right now.
“This Samphire work continues to advance alongside the Definitive Feasibility Study, [as well as] commencement of mining lease approvals, and trial operational readiness planning,” she said, “ensuring when the FRT results are received, we will be in a position to move seamlessly into the next phase.”
Maybe that “next phase” brings more stock hype. Alligator certainly seems to think so, reminding traders that Samphire “provides a unique opportunity to deliver a low cost, low impact ISR uranium operation in a tier-one jurisdiction at a time when global demand for reliable, clean baseload energy is accelerating.”
For now, though, the company’s focus is on “maintaining momentum.”
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