Alligator Energy (ASX:AGE) is not looking to divest any other uranium assets in 2026 and will focus on progressing key value drivers – namely development at Samphire and exploration at Big Lake.
CEO Andrea Marsland-Smith tells Mining.com.au that after entering into a binding asset sale agreement with DevEx Resources (ASX:DEV) in December to sell its non-core Northern Territory uranium assets, Alligator is now turning work undertaken in the past three years into value-defining outcomes, with Samphire very much front and centre.
Divesting the Northern Territory uranium assets for $7.5 million was an important step towards delivering two clear outcomes.
“Firstly, to strengthen the balance sheet, giving us additional flexibility to fund and accelerate our core work programs, and to sharpen our strategy and send a clear message to the market that we are serious about our focus – with that focus firmly on Samphire and Big Lake, both located in South Australia,” the CEO tells this news service.
“Samphire is our near-term development opportunity, while Big Lake represents the growth story within the business and our longer-term upside.
“By simplifying the portfolio, we’ve aligned capital, people, and execution effort behind the projects we believe offer the best pathway to value creation in the near and medium term for our shareholders.”
Divestment plants Samphire seeds
The DevEx transaction enables Alligator to strengthen its liquidity position and funding capacity, reduce cash burn and complexity, as well as sharpen its focus.
Looking towards Q2 2026, Marsland-Smith says at Samphire, Alligator Energy will be progressing key de-risking steps along the in-situ recovery pathway, as well as growing the resource.
At Big Lake, the focus will be following up on the results from its maiden 2024 program, with more holes in the ground in 2026.
Also on the horizon are the first results from the field recovery trial this quarter; an updated mineral resource estimate for Samphire next quarter; and throughout 2026 continuous updates on results from drilling campaigns at both Samphire and Big Lake.
The CEO adds that there will also be updates on the Samphire Bankable Feasibility Study (BFS), which is targeted for completion in early 2027, and the mine lease permitting.
“Overall, shareholders should expect a year focused on measurable milestones, technical validation, disciplined exploration, and clear step-changes that help advance our assets toward development decisions and guide where we deploy capital next,” she continues.
In mid-December 2025, Alligator Energy achieved practical completion of the pilot plant for the Samphire Uranium Project on schedule.
The company says this is strong validation of the construction and commissioning plan, particularly given the logistical and operational complexity of building a new pilot plant.
Cost performance was equally strong, with the construction completed under budget, which Alligator notes demonstrates effective procurement, tight contractor oversight, and consistent control of project scope.
Alligator will begin field recovery trials work at Samphire in February 2026. Control of the site has been transferred back to the company for pre-operation activities, which include stage three dry and stage four wet commissioning, beginning in January 2026.
CEO Andrea Marsland-Smith will be presenting at the RIU Explorers Conference in Fremantle, Western Australia being held from 17-19 February. Mining.com.au is an official media partner of this year’s event and will have a team reporting from the floor.
Write to Adam Orlando at Mining.com.au
Images: Alligator Energy
