Ardea Resources Limited
ARL.AX
Australian Securities Exchange0.53
AUD
-0.07
- -
Ardea Resources Limited
ARL.AX
(Australian Securities Exchange)
Recent
price
0.53
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Ardea Resources Limited (ASX:ARL) is an Australia-based battery minerals exploration and development company focused on nickel-cobalt projects in Western Australia. The company advances its flagship Kalgoorlie Nickel Project (KNP), which hosts Australia's largest nickel-cobalt resource of 854Mt at 0.71% Ni and 0.045% Co containing 6.1Mt nickel and 386kt cobalt; the Goongarrie Hub subset totals 584Mt at 0.69% Ni and 0.043% Co for 4.0Mt nickel and 250kt cobalt, prospective for scandium and other critical minerals including rare earth elements, lithium, gold, platinum-group elements, and copper. Ardea retains 100% ownership of non-Goongarrie Hub KNP assets such as the Kalpini Hub (Kalpini, Bulong, Emu Lake nickel sulphide), Yerilla Hub (Jump-Up Dam, Boyce Creek, Aubils), and associated nickel sulphide and critical minerals exploration targets across its >3,480km2 Eastern Goldfields tenement holding; operations target battery supply chains with high ESG standards via innovative high-pressure acid leach processing incorporating mineralised neutraliser for cost efficiency and metal recovery. Founded in 2016 and headquartered at 45 Ord Street, West Perth, the company operates solely in Western Australia, benefiting from premier infrastructure including roads, rail, power, and proximity to Kalgoorlie-Boulder. In August 2024, Ardea completed a binding Shareholders' Agreement with GH Nickel Pty Ltd, the joint venture vehicle of Sumitomo Metal Mining Co., Ltd. and Mitsubishi Corporation, forming Kalgoorlie Nickel Pty Ltd (KNPL) to develop the KNP-Goongarrie Hub; the Consortium fully funds the A$98.5M Definitive Feasibility Study targeting H1 2026 completion, earning 35% KNPL interest upon DFS conclusion and up to 50% post-positive Final Investment Decision, with Ardea retaining 50% and KNPL managing DFS activities including resource updates, metallurgy, process plant engineering, hydrogeology, and approvals. Recent progress includes September 2025 infill drilling confirming high-grade goethite mineralisation at Goongarrie South, Heritage Agreement execution with Marlinyu Ghoorlie Native Title Group, Major Project Status renewal to 2028, and $15.5M cash position with $30M remaining Consortium funding.