Core Viewpoint - The global uranium narrative has shifted from potential to immediate necessity as nuclear power gains traction in the energy mix, prompting investors to focus on companies that can effectively transition from discovery to production [1] Company Overview - Alligator Energy (ASX:AGE) is positioned as a leading near-term uranium developer in Australia, with significant exploration potential and a strong management team experienced in delivering tier-one projects [3][16] - The company operates in South Australia, the only state in Australia currently producing uranium, which provides a favorable regulatory environment and a clear pathway to project approval [4][5] Project Development - Alligator's flagship project, Samphire, is advancing towards production using In-Situ Recovery (ISR) technology, which is responsible for approximately 60% of global uranium production [8] - The commissioning of the pilot plant for the Field Recovery Trial (FRT) is scheduled for mid-February, marking a significant de-risking event that will validate previous studies and provide data for the upcoming Bankable Feasibility Study [9][10] Resource Potential - The Samphire project currently has a Mineral Resource Estimate of 18 million pounds (Mlbs) of uranium concentrate, with an Exploration Target ranging from 14Mlbs to 75Mlbs U₃O₈, indicating substantial growth potential as only 28% of known paleochannels have been drill-tested [11][12] Recent Discoveries - In 2024, Alligator made a significant discovery at Big Lake, recognized as the "Discovery of the Year" at the 2025 Australian Mining Prospect Awards, highlighting its potential to become a major ISR uranium field [14] - A new drilling campaign at Big Lake is set to begin in early March to expand on previous findings [15] Leadership and Experience - The leadership team, led by Dr. Andrea Marsland-Smith, has a proven track record in uranium mining, including securing approvals and managing large-scale operations [16][17][18] Upcoming Milestones - Key upcoming milestones include the commissioning of the pilot plant in February, initial FRT results in early March, and an update to the Mineral Resource Estimate for Samphire in April [19][22]

Core Viewpoint - enCore Energy Corp. has announced the acquisition of a 5,900-acre parcel of land named Tacubaya, which is adjacent to its existing Alta Mesa Uranium Project, aimed at enhancing the project's longevity and feed supply [1][2]. Group 1: Acquisition Details - The Tacubaya acquisition significantly expands the Alta Mesa Uranium Project, leveraging compelling geology and location [2]. - Historical mineralization discovered by Chevron in the late 1970s will be explored further, with an aggressive exploration program planned [2][5]. - The acquisition includes mineral and surface leases, and is part of a joint venture where enCore holds a 70% stake and Boss Energy Ltd. holds 30% [5]. Group 2: Project Overview - The Alta Mesa Uranium Project operates a fully licensed ISR Central Processing Plant with a total capacity of 1.5 million pounds of uranium per year, plus an additional drying capacity of 0.5 million pounds [4]. - The project utilizes In-Situ Recovery (ISR) technology, which is a non-invasive method for uranium extraction using natural groundwater and oxygen [5]. - Historical production at the Alta Mesa CPP reached nearly 5 million pounds of uranium from 2005 to 2013 before being curtailed due to low prices [6]. Group 3: Future Plans - Initial exploration on Tacubaya will include a 200-hole drilling program, starting in October 2025, with multiple rigs deployed [5]. - The exploration aims to delineate uranium mineralization and project the continuation of productive roll fronts from existing wellfields [5].

Core Insights - enCore Energy Corp. reported its financial and operational results for the six months ended June 30, 2025, highlighting significant operational improvements and financial metrics [1][5]. Financial Performance - For the three months ended June 30, 2025, the company recorded a net loss per share of $(0.03), an improvement from $(0.12) in the same period of 2024 [5]. - The weighted average cost of U3O8 sold was $59.42 per pound, down from $100.71 per pound in the same period of 2024 [5]. - The closing cash and equivalent balance was $26.9 million, with working capital of $30.2 million [5]. Operational Updates - The company extracted 203,798 pounds of U3O8 in Q2 2025, representing an increase of 79% from the first quarter of 2025 [5]. - Daily production averaged 2,678 pounds in June 2025, up from 2,103 pounds in May and 1,942 pounds in April 2025 [5]. - The company delivered 350,000 pounds of U3O8 into sales contracts at an average price of $62.58 per pound [5]. Inventory and Costs - The closing balance of U3O8 inventory was 244,204 pounds at a cost of $39.63 per pound [5]. - Total costs of U3O8 sold in Q2 2025 amounted to $20,796, with a cost per pound of $59.42 [4]. Project Developments - The Alta Mesa ISR Uranium Project continues to expand, with the addition of 75 wells during the second quarter [5]. - The company made important permitting progress by including the Upper Spring Creek ISR Uranium Project in the existing Radioactive Materials License from the Texas Commission on Environmental Quality [5]. - Construction activities for the wellfields and a Satellite Ion Exchange Plant commenced during the quarter [5]. Future Outlook - The company plans to increase the number of drill rigs operating to 30 in the third quarter of 2025 [5]. - Future projects in the pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming [17].