Ardea Resources Ltd

Ardea Resources is pleased to provide the following report on its activities during the Sept 2024 Quarter The Company is well capitalised with $16M cash-at-bank as at 30 September 2024, and has no debt. Ardea’s priority continues to be progressing the development of the world-significant Kalgoorlie Nickel Project (KNP). With $89.9M remaining in DFS funding, the Company is well positioned to complete all planned work programs and advance towards completing nickel-cobalt approvals, development and production. Please click here to read the full report. https://lnkd.in/gsmegRKK #ardea #knp #kalgoorlie #nickel #cobalt #batteryminerals #criticalminerals #sustainable #ev #electric #ethical

Managing Director and CEO Andrew Penkethman provided an update at the recent Paydirt Media Pty Ltd Australian Nickel Conference, an important annual Australian nickel sector event.    You can view this presentation below. #nickel #cobalt #electric #batteryminerals

Ardea is a major sponsor of today’s Australian Nickel Conference, an important annual Australian nickel sector event.   As part of the programme, Managing Director and CEO Andrew Penkethman, will provide an update on the Kalgoorlie Nickel Project - Goongarrie Hub, focussing on Ardea’s collaboration with Sumitomo Metal Mining and Mitsubishi Corporation to progress the project through to development and production and the unique attributes contributing to this large scale, low operating cost, long life asset. Andrew will also participate as a member of the Producers/Developers Panel “Australian Nickel against the World?”. The presentation can be viewed below. #nickel #cobalt #batteryminerals

Ardea Resources is a proud sponsor of the Paydirt Media Pty Ltd Australian Nickel Conference Lunch on Wednesday 9 October at the Pan Pacific Hotel, Perth, Western Australia. Managing Director and CEO Andrew Penkethman will present an overview and update on the Kalgoorlie Nickel Project - Goongarrie Hub. We hope to see you there. #nickel #cobalt #batteryminerals #criticalminerals #electric #evs

Ardea Resources features in the September 2024 edition of Australia's Paydirt magazine. Turn to Page 32 and you will find Managing Director and CEO Andrew Penkethman's interview with Rhonda Malkin discussing the Kalgoorlie Nickel Project's Goongarie Hub and the Definitive Feasibility Study's recent progress. "The 'unique attributes' of Goongarrie Hub will keep costs low compared with other nickel operations." #nickel #cobalt #electric #batteryminerals #criticalminerals Paydirt Media Pty Ltd

Ardea Resources is pleased to advise the release of the 2024 Annual Report. Please click below to view the report. #nickel #cobalt #kalgoorlienickel #knp #batteryminerals #criticalminerals

"Ardea Resources...told investors it had completed a transaction with a Japanese consortium to fund its Kalgoorlie Nickel Project (KNP) through a definitive feasibility study (DFS). The consortium – known as GH Nickel Pty Ltd – includes Sumitomo Metal Mining and Mitsubishi Corporation (through its subsidiary Mitsubishi Development Pty Ltd), and it has signed an agreement with Ardea and its subsidiary Kalgoorlie Nickel Pty Ltd (KNPL), which is managing the KNP project." Read the Hot Copper article below. #nickel #cobalt #batteryminerals #evs

You can read the news of executing the binding Shareholders' Agreement with GH Nickel, a milestone in developing the KNP - Goongarrie Hub nickel-cobalt development project, in the Mining & Exploration Chronicle below. Andrew Penkethman and the team worked tirelessly on this achievement and looking forward to the challenges ahead. #nickel #cobalt #batteryminerals #electric #evs

"Ardea Resources has hit a major milestone in the development of its Goongarrie Hub nickel-cobalt project in Western Australia after executing a binding agreement with a giant Japanese consortium. It now locks away a 50:50 joint venture (JV) with Sumitomo Metal Mining and Mitsubishi Corporation in a deal where the consortium has committed to funding a $98.5 million definitive feasibility study (DFS) to earn into the project. Goongarrie hub is part of Ardea’s wider Kalgoorlie Nickel Project (KNP) that operates in WA’s Goldfields region." Read the The West Australian article below. #nickel #cobalt #batteryminerals

• Ardea has executed a binding Shareholders’ Agreement with GH Nickel Pty Ltd which represents a significant milestone to developing the globally significant KNP – Goongarrie Hub nickel-cobalt development project. • GH Nickel Pty Ltd (Consortium SPV) is the vehicle through which Sumitomo Metal Mining, and Mitsubishi Corporation through its fully owned subsidiary Mitsubishi Development Pty Ltd (Consortium) will acquire shares in Kalgoorlie Nickel Pty Ltd (KNPL). • The Consortium will fund 100% of the DFS costs up to the agreed budget of approximately A$98.5 million. At the conclusion of the DFS spend, the Consortium will have subscribed to a 35% ownership in KNPL and retain the right to increase its ownership in KNPL to 50% upon a positive Final Investment Decision (FID) decision by the Consortium to build, commission and operate a plus 30,000tpa multi-decade nickel operation. • The Shareholders’ Agreement sets out the terms and conditions for the joint venture (JV) to enable the development of the KNP – Goongarrie Hub after a positive FID. • With the Consortium’s incorporation of the Consortium SPV as its JV vehicle and the Consortium SPV’s accession to the April 2024 Cooperation Agreement, all remaining conditions precedent to the Transaction have been satisfied. • With the Transaction now complete, KNPL will continue to expand and accelerate DFS activities in earnest, targeting DFS completion in H2 2025. Ardea Managing Director and CEO Andrew Penkethman said, “This Transaction represents a major Critical Minerals collaboration between Australia and Japan with the Kalgoorlie Nickel Project – Goongarrie Hub being advanced as Australia’s next large-scale, low-cost nickel-cobalt producer that meets the high ESG standards expected from modern society. With the signing of the Shareholders’ Agreement, all conditions precedent to the Transaction have been satisfied, so that the focus for Ardea, the Consortium and KNPL is on completing a quality Definitive Feasibility Study that incorporates the combined skills and experience of all team members and demonstrates a compelling nickel-cobalt development." Read the announcement below. #nickel #cobalt #batteryminerals #electric #EV