Brisbane – Alligator Energy (ASX: AGE) is pleased to announce that it has entered into a Binding Terms Sheet to acquire EL6350 from Stellar Resources Limited (ASX: SRZ).
The tenement, which contains existing historic uranium intersections, borders the southern end of Alligator’s 100% owned Samphire Uranium Project and is deemed prospective for extensions to the historic non JORC compliant Plumbush Uranium Deposit.
Under the terms, Alligator through its wholly owned subsidiary S Uranium Pty Ltd will acquire a 100% interest in EL 6350 from Stellar Resources for $135,000 to be satisfied through the issue of AGE shares. The number of Consideration Shares to be issued will be determined based on the lower of $0.019 and the 10 business day volume weighted average price (VWAP) immediately prior to execution of the binding terms sheet.
Greg Hall, Alligator CEO, said: ‘We are very pleased to consolidate our holding of the Samphire uranium project through […]
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