Developing Australia’s Premier Nickel-Cobalt Project
- Ardea’s Kalgoorlie Nickel Project (KNP) hosts a Mineral Resource Estimate (JORC Code 2012) of 854Mt at 0.71% Ni and 0.045% Co for 6.1Mt of contained nickel and 386kt of contained cobalt. The Goongarrie Hub, within the KNP, hosts 584Mt at 0.69% nickel and 0.043% cobalt for 4Mt of contained nickel and 250kt of contained cobalt, making it the largest nickel-cobalt resource in Australia (GSWA) and globally significant. (ASX release 30 June 2023)
- Strategic partnership with Sumitomo Metal Mining Co., Ltd (SMM) and Mitsubishi Corporation (MC): SMM and MC are funding the A$98.5M Definitive Feasibility Study (DFS), validating the Project’s potential and providing access to world-class expertise. (ASX release 30 August 2024)
- Premier mining jurisdiction: Located in Western Australia, just 70km from Kalgoorlie-Boulder, the Project benefits from excellent infrastructure, a skilled workforce, and a stable regulatory framework.
- Potential lowest-cost producer: With estimated operating costs of $6,000-$10,000 USD per tonne, Goongarrie is expected to be cost competitive with global peers, thanks to premium ore quality contributing to low acid consumption and energy requirements. (ASX release 5 July 2023)
- Large scale, long-life project with expansion potential: 40+ year operational life expected, with additional expansion potential KNP deposits not included in PFS and throughput increase to 4Mt per annum. (ASX release 5 July 2023)
- Innovative Ore Processing Approach: Ardea’s use of mineralised neutraliser reduces costs while providing the dual benefit of acid neutralisation and additional metal recovery, demonstrating technical innovation in project design.
- Environmentally responsible: Ardea plans for in-pit tailings and evaporation, suited to the semi-arid environment, reducing environmental risks compared to tropical locations.
- Well-positioned for growing nickel demand: Production is aligned with expected market deficits from 2028 onwards.
- Experienced management team: Extensive WA resources sector experience, with a proven track record in discovery, development, and operation, and strong stakeholder relationships. Major Project Status from the Australian Federal Government has resulted in a seat at the table to give input to initiatives such as a Production Tax Incentive.
- Tight capital structure: With about 200 million shares on issue and top 40 shareholders holding over 60%, Ardea has strong support from institutional investors and high-net-worth individuals.
- Advanced stage with near-term news flow catalysts: The DFS is set for completion in the second half of 2025, with regular news flow from ongoing studies and a clear path to Final Investment Decision.
Read Competent Persons Statement
