Chairman's Address - 2020 AGM
During the financial year Alligator (ASX:AGE) continued to review new project opportunities with an expanded M & A team both domestically and internationally. These efforts were rewarded with finalisation of an Exploration Agreement for the prospective Nabarlek North tenements in Arnhem Land and the acquisition of the 47 Mlb Samphire Uranium Project located in South Australia. Alligator is continuing to review further potential value add opportunities.
The Samphire Uranium Project represents the potential for a future ISR style or open pit operation. Desktop studies using a uranium process and engineering group based in South Australia to determine the next steps to progress the Samphire Uranium Project are nearing completion. Alligator plans to update the market on the findings in the coming weeks.
I would like to specifically welcome the 1603 Samphire shareholders who joined the Alligator register as part of the in-specie distribution that occurred at completion of the transaction. We are committed to advancing the Samphire Uranium Project along with our existing projects with the aim to build value for all shareholders.
During the 2020 financial year we were recognised with a South Australian State Government co-funding arrangement (Accelerated Discovery Initiative) totalling $152K for advancing a geophysics program at the Big Lake Uranium project. Unfortunately, COVID related restrictions have delayed this work program to 2021.
Recently, an important event in the Uranium market occurred, with the US Department of Commerce releasing its draft Amendment to the Russian Suspension Agreement. This allows for Russian sourced nuclear fuel material to be maintained in the US at around 20 to 24% of US reactor requirements for some years, then declining to 15%. This now should enable the US Utilities to tender and enter into long term contracts with a greater degree of confidence.
To date Alligator has progressed the Piedmont Ni Co Cu Au project through ground truthing, a global Nickel expert review and finalisation of a drilling permit. We are now looking for a strategic partner to assist us with the next stage of evaluating this highly prospective but early stage Project.
On behalf of the Board we thank all our shareholders and stakeholders for continuing to support and work with Alligator in the 2020 year and look forward to advancing work programs in our project areas as current events allow.
About Alligator Energy Ltd
Alligator's Directors have significant experience in the exploration, development and operations of both uranium and nickel projects (both laterites and sulphides).
Alligator Energy Ltd