Alligator Energy (ASX:AGE) transitions Samphire from construction to operations

Alligator Energy has crossed a key operational threshold at its Samphire Uranium Project in South Australia, completing commissioning of its field recovery trial pilot plant and moving decisively into live trial operations, resource work and expanded drilling across its uranium portfolio.

The update marks the end of construction risk and the beginning of data-driven validation for Samphire’s in situ recovery development pathway.

Highlights

• Pilot plant to be energised, full operations team recruited and inducted, final preparation for field recovery trial operations now underway
• First test pattern pre conditioning to commence next week in readiness for uranium extraction
• Field recovery trial to run for circa 4 months with first results expected late March 2026
• Concurrent work streams progressing, including aggressive drilling programs to commence at Samphire and Big Lake this quarter

The Company confirmed that both dry and wet commissioning activities have been completed in line with schedule and within budget, establishing operational readiness at the Samphire pilot plant.

With commissioning finalised, Alligator is now proceeding to energise the facility and transition into active field recovery, supported by a fully recruited and inducted operations team.

The first test pattern pre conditioning is targeted to begin next week, setting up initial uranium extraction and the start of what Alligator describes as a circa 4 month field recovery trial.

This phase is designed to generate a consistent stream of operational and technical data, providing empirical support for recovery performance and operating parameters that will underpin future development decisions at Samphire.

Chief executive Andrea Marsland Smith framed the milestone as a culmination of several years of work, noting:

“Completing commissioning in line with the schedule previously provided to the market bodes very well for the next phase of the project and highlights the strength of our internal capabilities and the quality of our team.”

She added that with the plant ready to operate and a fully staffed site, the Company is now transitioning into operations and field recovery, with the coming months expected to be highly active.

Importantly, the field recovery trial does not stand alone.

In parallel, Alligator is advancing multiple value accretive workstreams across its uranium portfolio, including an upgrade of the Samphire Mineral Resource Estimate to incorporate the Plumbush satellite prospect, alongside the commencement of aggressive drilling programmes at both Samphire and the Big Lake project, subject to weather conditions.

This coordinated approach reflects a broader strategy to move simultaneously on operational validation, resource growth and project advancement.

The Company outlined that these activities collectively position Alligator for sustained operational progress and strong news flow as it progresses from commissioning into trial operations, resource upgrades, completion of a bankable feasibility study and mining lease permitting activities.

Geographically, Samphire and Big Lake anchor Alligator’s South Australian footprint, with Samphire now firmly in the “under trial and development” phase and Big Lake advancing toward drilling.

The pilot plant itself represents the final technical milestone before live recovery work, shifting the project from build phase execution into performance testing and data collection, a critical step for any in situ recovery development pathway.

For mid to high net worth investors tracking the uranium development space, the transition from construction to operations materially changes the company’s risk profile.

Delivery against schedule and budget removes a layer of execution uncertainty, while the commencement of field recovery introduces measurable technical outcomes that will inform future project economics and permitting trajectories.

Looking ahead, late March 2026 is flagged for first meaningful field recovery results, with ongoing drilling, resource updates and feasibility activities expected to run concurrently.

In a sector increasingly focused on tangible progress rather than conceptual advancement, Alligator now enters a phase where operational evidence, rather than plans, will shape the next chapter of Samphire’s development within Australia’s evolving uranium landscape.

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