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 2,000 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 25,528,278 shares, raising a further $1,021,131.
Macallum Group, a significant shareholder, participated in the sub-underwriting arrangements by taking up a further 7,260,000 shares.
This concluded the rights issue process which raised a total of $2,702,985 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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