BUY - Alligator Energy (AGE)
*** GENERAL AVICE ONLY***
Trade Date: 15/1/2024
Company Description
Alligator Energy Limited (AGE) is an exploration company focused on the discovery of energy metal resources including uranium deposits in the Alligator Rivers Uranium Province (ARUP) in the Northern Territory and Ni-Co deposits within northwest Italy.
Recommendation
Entry price: <0.075
Exit Price: 0.10c (+40%)
Stop-Loss: 0.058c (-20% Trailing)
Rationale
A recent rally in the underlying Uranium price has seen the spot price rally from $80 to a fresh 16-year of $104. The ease in which the spot price has broken through the key $100 mark leads us to believe that Uranium explorers like Alligator (AGE) will start to play catch up with the more mature Uranium miners like PDN and BOE
The uranium and energy metals project development and exploration group announced two key updates from its Samphire Uranium Project in South Australia.
CEO Greg Hall recently addressed a resource upgrade at the project, saying that the company has successfully converted much of the inferred quality resources into a higher quality indicated resource. Along with the resource upgrade, Alligator has defined an exploration target range of 6Mt (million tonnes) to 37Mt at a grade between 390 and 903ppm eU3O8 (U3O8 equivalent basis) for a range of 14Mlbs to 75Mlbs of contained eU3O8 at 250ppm cut-off for Samphire Regarding future drilling plans, Hall confirmed that drilling rigs are scheduled to operate throughout the year.
*Updated
Date: 2/2/2024
When the AGE reaches $0.10, the minimum price increment will change from $0.01 to $0.05.
We are changing the price target to $0.105.
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.