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Goongarrie Nickel-Cobalt Project ARL 100%

The Goongarrie Nickel-Cobalt Project is Ardea’s flagship project, with 100% ownership over the largest cobalt resource in the developed world. Goongarrie is located in the tier-one mining jurisdiction of Kalgoorlie, which offers world-class infrastructure in an established mining hub.

Goongarrie is a globally significant, readily scalable project, which is being developed to become a long-term producer of high-quality nickel-cobalt sulphate.

With resource of 773 million tonnes at 0.71% Ni and 0.05% Co, Goongarrie is currently positioned as the premium nickel-cobalt project in Australia, whilst also offering significant upside with only 5% of the Kalgoorlie Nickel-Project landholding being factored in to the current resource.

Ardea is positioning Goongarrie to be a supplier of high-purity cobalt and nickel sulphate to the lithium ion battery market as the automotive electrification revolution continues to rapidly grow. The electric vehicle market is expected to account for 14% of new car sales by 2025, whilst the cobalt sulphate market is forecasted to reach US$9.5 billion by 2025.

Increased demand for cobalt sulphate is driven by the higher energy density it provides to both electric vehicle and energy storage system batteries.

A Pre-Feasibility study has shown Goongarrie to be a highly valuable development and Ardea continues to advance the project toward a final investment decision.

Table 1 – KNP Cobalt Zone – Resource Statement (March 2018) from RMRC and HGMC consulting groups
Camp Deposit Resource category Cutoff (%) Size (Mt) Co (%) Ni (%) Contained Co (t) Contained Ni (t) Remodel status
Goongarrie Goongarrie South Total ≥0.08% Co or ≥0.5% Ni 53.1 0.10 0.82 52,000 436,600 ARL, March 2018
Big Four Total ≥0.08% Co or ≥0.5% Ni 25.0 0.10 0.77 24,000 192,100 ARL, March 2018
Scotia Total ≥0.08% Co or ≥0.5% Ni 5.0 0.11 0.87 5,600 43,600 ARL, March 2018
Goongarrie subtotal 83.1 0.10 0.81 81,600 672,300
Siberia Black Range Total ≥0.5% Ni 19.2 0.09 0.68 17,800 130,600 ARL, August 2017
Yerilla Aubils Total ≥0.08% Co 6.0 0.15 0.90 9,000 54,000 Heron, 2009
KNP Cobalt Zone TOTAL 108.3 0.10 0.79 108,400 856,900

All figures are rounded to appropriate significant figures reflect the degree of certainty.

See the 14 March 2018 announcement for full details and breakdown and parameters.

The Kalgoorlie Nickel-Cobalt Project (ARL 100%)

The Kalgoorlie Nickel-Cobalt Project (“KNP”) is the broader encompassing project of Goongarrie and offers Ardea an extremely large and prospective landholding.

At the current moment, the main focus of Ardea is Goongarrie, which is the high-grade zone of the KNP. Goongarrie only reflects 5% of the KNP which shows the exceptional upside the project offers Ardea.