Alligator Energy (AGE) Q3 2026 TU earnings summary

Executive summary

• Transitioned from project construction to trial uranium extraction at Samphire, with pilot plant commissioning completed and uranium extraction initiated via Field Recovery Trial (FRT).

• Early FRT results post-quarter end show recovery performance and operating parameters meeting or exceeding expectations.

• Bankable Feasibility Study (BFS) commenced, integrating real operational data from FRT to de-risk project development.

• Leadership structure strengthened, including appointment of CEO as Managing Director and planned Board transitions.

Financial highlights

• Cash balance at 31 March 2026 was A$13.3 million, down from A$20.6 million in the previous quarter.

• Net cash used in operating activities for the quarter was A$1.45 million; net cash used in investing activities was A$5.79 million.

• Exploration and evaluation expenditure for the quarter totaled A$5.7 million, reflecting increased activity from FRT operations.

• Estimated quarters of funding available is 1.87, with additional proceeds expected from asset sales and R&D tax refund.

Outlook and guidance

• BFS completion targeted for first half of 2027, aligning with development and permitting timelines.

• Updated Mineral Resource Estimate for Samphire, including Plumbush, expected in June 2026 quarter.

• Aggressive drilling campaign at Samphire planned to support resource extension and project economics.

• FRT operations to transition to next wellfield after April 2026, with ongoing data generation and optimisation.