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Alligator Energy makes move into cobalt-nickel market

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Alligator Energy makes move into cobalt-nickel market

Uranium miner Alligator Energy Ltd. decided to invest in cobalt-nickel projects as it "expands its exploration and development strategy." It will maintain its uranium exploration assets and opportunities.

The company said Feb. 1 that it signed a binding heads of agreement to earn up to a 70% interest in the Piedmont sulfide cobalt-nickel project in Northern Italy from Chris Reindler and Partners.

Additionally, Alligator agreed to invest A$200,000 in a company acquiring 100% of the Young lateritic cobalt-nickel project in New South Wales, Australia. The project is adjacent to Jervois Mining Ltd.'s Young nickel-cobalt project.

The company will hold the assets via a wholly owned subsidiary and will assess other cobalt-nickel projects for potential investment, it said.