Samphire Uranium Project – Field Recovery Trial Moves into Action.
- Noel Ong
- Sep 26
- 7 min read
Announcement
Every so often, we see a project cross an important threshold – the point where years of technical work and regulatory engagement transform from planning into physical activity on the ground. For Alligator Energy Limited (ASX: AGE), the Samphire Uranium Project near Whyalla, South Australia, has reached exactly that point (Figure 1). With final regulatory approvals secured, drilling underway, and construction set to follow, the project is now poised to generate the critical operational data necessary to unlock its next phase of growth.
Figure 1: Alligator Energy’s Uranium and Nickel Projects (source: AGE)
This Samso Insights takes a deeper look at Alligator’s progress, the significance of the Field Recovery Trial (FRT), and what this means for investors tracking Australia’s next in-situ recovery (ISR) uranium mine.
Key Highlights - Steps Away from A Uranium Miner
Regulatory Green Light: The SA Department for Energy and Mining (DEM) and co-regulators have approved the Program for Environment Protection and Rehabilitation (PEPR), formally authorising commencement of the FRT
First Wells Being Drilled: Watson Drilling has mobilised to site and begun drilling the first of three well patterns required for the FRT
Construction Phase Imminent: Civil works and plant installation will be delivered by Whyalla-based Ahrens Group, supported by local subcontractors, with site mobilisation scheduled over the coming weeks
Pilot Plant Ready: Alligator already has the containerised pilot processing plant staged at its Whyalla yard, ready for installation
Three-Month Operations Window: Following construction and commissioning, the FRT will operate over ~3 months, providing data on uranium recovery, in-situ chemistry, reagent use, and hydrogeology – all vital inputs for the Definitive Feasibility Study (DFS) and Mining Lease Application
Robust Resource Base: The Blackbush Deposit hosts a JORC 2012 Mineral Resource Estimate of 18.0 Mlbs at 676 ppm U₃O₈ (78% Indicated), providing a strong foundation for wellfield design
Setting the Stage
Acquired in 2020, Samphire is one of Australia’s most advanced ISR uranium projects outside of production. The project consists of the Blackbush Deposit and the Plumbush Prospect, located in a Tier 1 uranium mining jurisdiction where five ISR uranium mines are already approved (Figure 2). Since acquisition, Alligator has systematically advanced the asset, completing bench-scale pilot process work at ANSTO, two scoping studies (2023), and a major resource upgrade in May 2025.
Figure 2: Samphire Uranium project: Blackbush Deposit and the Plumbush Prospect in South Australia. (source: AGE)
This disciplined approach has resulted in a deposit with well-defined roll-front mineralisation, known hydrogeology, and strong ISR amenability. These attributes make Samphire a prime candidate for low-cost, scalable ISR development.
The Field Recovery Trial – Why It Matters
The FRT project will involve establishing three well-field patterns, as well as the placement and construction of the containerised pilot processing plant (Figure 3) and its associated equipment, followed by wellfield operations. The containerised prefabricated pilot processing plant is already in Alligator’s Whyalla yard, ready for mobilisation and installation.
Figure 3: Ion exchange module; Wellhouse (pipe room) module; Reverse Osmosis plant – currently staged in Alligator’s Whyalla yard (source: AGE)
This prefabrication means the project team can rapidly transition from site mobilisation to commissioning, shortening the timeline to first recovery solutions.
The FRT is more than just a technical exercise – it is the bridge between resource definition and full-scale production. The trial will:
Validate ISR Performance: Confirm uranium recovery efficiency, reagent consumption, and in-situ chemistry under real-world conditions.
De-risk Future Production: Provide critical data on hydrogeological response, operational costs, and environmental performance.
Feed into the DFS: Generate the key inputs for detailed wellfield design, mine planning, and economics (Figure 4).
Support Mining Lease Application: The data will underpin the submission targeted for early 2026
Figure 4: Layout of the FRT production wellfields and pilot plant site. (source: AGE)
Construction and Commissioning
The construction phase will take roughly eight weeks from site mobilisation, followed by three to four weeks of commissioning (Figure 5). The modular nature of the pilot plant means assembly and integration can proceed quickly.
Figure 5: Samphire Uranium Project (Blackbush Deposit) – approx. timeline for key activities (source: AGE)
Once commissioned, the trial will run sequentially through three well patterns, with inline monitoring and laboratory analysis to allow real-time adjustments. After completion, the wellfields will be decommissioned and rehabilitated, leaving behind a detailed dataset that de-risks the path to production
Project Economics – Why Investors Are Watching
The December 2023 Scoping Study demonstrated robust project economics even at conservative long-term uranium price assumptions (US$75/lb). At that price, the project delivered:
NPV₈: A$257M (post-tax, ungeared)
IRR: 42%
Payback: 2.45 years
AISC: US$33.31/lb
At today’s consensus long-term uranium price of US$90/lb, the NPV₈ rises to A$371M, with a post-tax IRR of 55% and a reduced payback period of 1.93 years.
This economic leverage is why the FRT is so pivotal – its success could justify scaling production beyond the current 1.2 Mlbs per annum case considered in the study.
Exploration Upside
While the FRT is the near-term catalyst, it’s worth noting that more than 70% of the Samphire palaeochannel system remains untested. The Exploration Target adds a conceptual range of 14–75 Mlbs eU₃O₈ beyond the current Blackbush resource, highlighting the project’s scalability (Figure 6).
Figure 6: Exploration Potential Beyond the Current Envelope (source: AGE)
Alligator’s CEO Andrea Marsland-Smith commented:
“I am very pleased that we are now commencing site works with the inaugural installation of production wells at the Blackbush Deposit for the field recovery trial. We are ready to work with Ahrens on construction and commissioning of the ISR pilot plant with our experienced ISR technical and operations team in place for its operation from January 2026. Subject to successful FRT, Mine Lease approval, DFS and financing, this drilling also represents the first future production wells for Australia’s next ISR uranium mine.”
Next Steps
Complete production well drilling and construction of the pilot plant (Q4 2025).
Commission and operate the FRT through Q1 2026.
Analyse results, update resource and wellfield design.
Commence DFS and Mining Lease Application process (early 2026).
The path ahead is clear – finish drilling and plant construction in Q4 2025, commission and run the FRT in early 2026, analyse and integrate results into an updated wellfield design, and launch the DFS and Mining Lease Application process to advance Samphire toward production.
Samso Concluding Comments
The approval of the PEPR and the commencement of drilling for the Field Recovery Trial represent the moment when Samphire transitions from concept to execution. For investors, this is where technical studies are put to the test, and real-world performance begins to define the project’s economic future. The next few months will show whether the resource quality and ISR conditions translate into recoveries consistent with the scoping study assumptions.
The importance of this FRT cannot be overstated. It is designed to gather the hydrogeological, chemical, and operational data that will underpin the Definitive Feasibility Study and Mining Lease Application. These are the gatekeepers to project financing and eventual production. In short, success here is the key that unlocks the next stage of value creation for Alligator Energy.
Investors should also keep the bigger picture in mind. With over 70% of the palaeochannel system still untested, the Samphire Project has significant upside potential beyond Blackbush. This exploration pipeline, combined with the nearby Plumbush Prospect, could provide years of resource growth and support higher production rates than the current 1.2 Mlbs per annum case once the project reaches production.
Figure 7: Alligator Energy Limited (ASX: AGE) share price chart. (source: CommSec).
With a market valuation of AUD $115M, one may rightfully feel that this is expensive, but looking at the chart, this share price is not reflective of any excitement. Is this a good time to get in? I like the outlook for uranium, and I do like the AGE story. The timeline for the whole story happening is my big question. It would be good to get a Coffee with Samso happening, so let's see how this pans out.
At Samso, we always come back to fundamentals: facts first, context always. The geology, resource quality, and ISR amenability all point to a technically robust project. The upcoming FRT will either validate or challenge those assumptions – and that is why this moment is so significant. Map the geology to the strategy, verify the numbers, and decide only after your own research.
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