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 reserves of 773 million tonnes at 0.06% Co and 0.71% Ni, Goongarrie is currently positioned as the premium cobalt project in Australia, whilst also offering incredible 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-grade 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.
| 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 | ||||
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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. |
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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.