Thursday, 22 August 2019 11:09 GMT

Alligator Energy intersects radiometric anomalism at Tin Camp

Alligator Energy (ASX:AGE) should trade firmer after intercepting further radiometric anomalism in six drillholes at the Mintaka at its Tin Camp project in the Northern Territory.

Drilling is to recommence in late September and laboratory assay results from current drilling are expected in the first week of October.

About 2000 metres of drilling is planned for the Orion North and Northeast Myra prospects.

Alligator recently placed a shortfall in applications under a rights issue at $0.04 to Taycol Nominees and its sub-underwriters in accordance with the underwriting arrangements.

The shortfall in applications totalled 25528278 shares raising a further $1021131.

Macallum Group a significant shareholder participated in the sub-underwriting arrangements by taking up a further 7260000 shares.

This concluded the rights issue process which raised a total of $2702985 before capital raising costs bringing total cash at bank to around $4.5 million.

The company is currently valued at around $12 million.


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Alligator Energy intersects radiometric anomalism at Tin Camp


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