Latest news with #ArdeaResources
West Australian
6 days ago
- Business
- West Australian
Ardea hits major milestone in massive WA nickel project development
Ardea Resources has taken a major step towards becoming Australia's next significant nickel-cobalt producer after confirming on Friday it had reached a pivotal milestone laid out in its definitive feasibility study (DFS) for the Kalgoorlie nickel project's Goongarrie Hub. The company's joint venture with a Japanese consortium comprising heavyweights Sumitomo Metal Mining and Mitsubishi Corporation has earned a 17.5 per cent stake in the project vehicle, Kalgoorlie Nickel Pty Ltd (KNPL). The milestone was triggered by the consortium achieving 50 per cent expenditure of the agreed $98.5 million DFS budget, entitling it to the first tranche ownership interest in KNPL and the right to appoint a director to the board. This step has formalised the consortium's growing commitment to the Goongarrie Hub, which Ardea Resources managing director Andrew Penkethman described as a key event accelerating the project's path towards a final investment decision and future production. Ardea's Goongarrie Hub has long been touted as one of the world's largest undeveloped nickel-cobalt deposits. It hosts a massive 854 million tonnes of ore grading 0.71 per cent nickel and 0.045 per cent cobalt across its Kalgoorlie nickel project tenements for 6.1 million tonnes of contained nickel and 386,000t of cobalt. Within this, the Goongarrie Hub accounts for 584Mt of ore at 0.69 per cent nickel for 4Mt of contained nickel. The milestone follows months of intensive activity at the hub, where Ardea's formerly wholly owned, now majority-owned subsidiary KNPL has been spearheading the DFS with strong support from its Japanese partners. Ardea confirmed only weeks ago that it had wrapped up a massive infill drilling program across key deposits, including Big Four, Scotia Dam and Highway. The campaign, which completed 727 drill holes for nearly 46,000 metres, was designed to upgrade resource categories and deliver the measured resources needed for conversion to proven ore reserves in the DFS. Drill results from these campaigns have been impressive. At Highway, assays returned thick, high-grade intercepts such as 72 metres grading 0.92 per cent nickel, including 38m at 1.05 per cent nickel, and 20m at 1.12 per cent nickel with a higher-grade zone of 6m at 2.38 per cent nickel. At Big Four and Scotia Dam, standout hits included 32m at 1.17 per cent nickel and 22m at 1.3 per cent nickel, reaffirming the continuity of high-grade mineralisation and supporting resource reclassification to the measured status. The DFS is now past the halfway point and is targeting completion in the second half of 2025. Upcoming deliverables will include a mineral resource estimate update, process plant design optimisations and completion of critical metallurgical testwork. Notably, investigations into increasing high pressure acid leach (HPAL) throughput from 3Mt per annum to 3.5Mt per year are underway, potentially enhancing the project's already robust economics. Ardea's strategic and financial position has also strengthened in recent months. The company received a $1.2 million research and development tax rebate in May, adding to its cash reserves and extending its runway without dilution. In April, Sumitomo deepened its partnership with Ardea via a $4.6 million placement at a 7.5 per cent premium to the market price, providing further funds for its DFS activities and signalling confidence from one of the world's leading nickel producers in the Goongarrie Hub project. Ardea's quarterly report for March showcased more progress on the ground, highlighting the awarding of major design and engineering packages for the project's acid and hydrogen sulphide plants, completion of key geotechnical programs and the start of community engagement initiatives, including regional education infrastructure support. Environmental, social and governance credentials remain central to Ardea's strategy. The company has continued baseline environmental studies, engaged specialist consultants for life-cycle assessments and maintained a spotless safety record with zero lost time injuries during the year leading up to May 2025. With robust support from Sumitomo and Mitsubishi, a rapidly advancing DFS, and a globally significant nickel-cobalt resource positioned in one of the world's safest mining jurisdictions, Ardea appears firmly on track to deliver Australia's next major source of battery-grade nickel and cobalt at a time when supply chain diversification and ESG compliance have never been more critical. Is your ASX-listed company doing something interesting? Contact:
West Australian
25-06-2025
- Business
- West Australian
Ardea boosts open pit resources with high-grade nickel near Kalgoorlie
Ardea Resources has unveiled a plethora of high-grade infill drilling hits from its Highway nickel-cobalt deposit in the West Australian Goldfields. The drilling at part of the company's broader Kalgoorlie nickel project (KNP) – Goongarrie hub is designed to upgrade the current mammoth resource to the highest confidence measured category. Assays have delivered some thick, high-grade intercepts that strengthen the project's case for robust early production. The drilling campaign will feed into the company's ongoing $98.5 million definitive feasibility study (DFS), which is fully funded by Japanese giants Sumitomo Metal Mining and Mitsubishi Corporation. The company says its DFS is on track to unlock the potential of Australia's largest nickel-cobalt resource as a multi-decade low-cost producer. The current infill program is expected to optimise five years of open-pit mining designs. Ardea's latest drilling at its Highway prospect comprised 165 reverse circulation holes for 10,058 metres. It showcased impressive near-surface intercepts, including 14m running at 1.19 per cent nickel from 30m, 20m at 1.12 per cent nickel from 26m and a thicker 72m section running 0.92 per cent nickel from 12m. The company says its high-grade results validate its 2025 prefeasibility study pit designs and highlight the potential for selective mining to front-load production, enhancing cash flows during the project's early years. The Highway deposit lies 30 kilometres north of the proposed Goongarrie hub processing plant, about 100km northwest of Kalgoorlie. It spans 5.7km of strike on ready-to-go granted mining leases. Ardea is now advancing geological interpretation and wireframing for updated mineral resources across Highway, Goongarrie South, Big Four and Scotia Dam. It anticipates feeding any upgrades into detailed resource optimisation and mine planning. Both are key deliverables for the DFS, which is slated for completion in the second half of this year. The company is also collecting metallurgical samples to assess the inclusion of a 'mineralised neutraliser' in pit optimisations, and large-diameter diamond drilling is continuing to support detailed testwork. The mineralised neutraliser, carbonate-bearing saprock, occurs at the base of nickel-cobalt laterite zones. While low in nickel grade, the carbonate component acts as a natural acid neutraliser, replacing costly imported limestone. The KNP – Goongarrie hub is part of a colossal 854 million-tonne resource grading 0.71 per cent nickel and 0.045 per cent cobalt, for a contained 6.1Mt of nickel and 386,000t of cobalt. The Goongarrie hub alone hosts 584 million tonnes with 4Mt nickel – the remainder is held in KNP's Kalpini hub. The existing PFS projected an eye-watering $800 million annual EBITDA over a 40-year mine life, underpinned by a shallow, flat-lying orebody, albeit at much higher projected cobalt prices. The Japanese consortium joint venture with Ardea was designed for the metals powerhouses to stump up the cash for both front-end engineering design and potential financing post-DFS, positioning KNP for a final investment decision in early 2027. Beyond Goongarrie, Ardea is sharpening its focus on advanced-stage exploration at the Kalpini hub, targeting nickel sulphide and critical minerals such as scandium and rare earth elements. Scoping studies for these prospects are underway, complementing the company's broader development strategy. As the company updates its resources and refines its mining plan, it is poised to redefine Australia's role in the global critical minerals landscape. Ardea is steadily progressing towards development to deliver high-quality Aussie nickel and cobalt to electric vehicle makers globally. Is your ASX-listed company doing something interesting? Contact:
West Australian
23-06-2025
- Business
- West Australian
Ardea winds up Goldfields drilling program for nickel resource upgrade
Ardea Resources has wound up its latest infill drilling program designed to upgrade its nickel resource, as part of the company's ongoing definitive feasibility study work being undertaken at its massive Kalgoorlie nickel project-Goongarrie hub in the Western Australian Goldfields. The DFS's significant $98.5 million budget is being funded by Japanese giants Sumitomo Metal Mining Co and Mitsubishi Corporation. Ardea subsidiary Kalgoorlie Nickel Pty Ltd is managing the DFS work program on behalf of the consortium companies to complete the DFS and move the project closer to development status. The consortium companies will contribute a total of $46.1 million to help complete the DFS, representing about 47 per cent of anticipated DFS expenditure. Ardea signed a 50:50 joint venture (JV) agreement with the exploration giants in April of last year to meet the expected increased demand for nickel to help fuel a global green energy transition. The three parties joined forced when Sumitomo sent an unsolicited email to Ardea expressing initial interest in the project, and Ardea was introduced to Mitsubishi management via the Australian Government-owned Export Finance Australia program. Ardea believes the project could become a multi-decade, low-cost nickel and cobalt producer. The key metals are used in electric vehicle batteries and alloys to strengthen and improve steel. The company's latest drilling program increased the density of drill holes to enable a resource classification upgrade and assist with early mine planning. Ardea says it has made further management and technical appointments during the month, including strengthening the project team by filling important roles for a head of approvals and compliance. The infill drilling program comprised 727 holes for 45,735 metres across five deposits. At Goongarrie South, 28 holes were drilled for 1938m to support Ardea's resource classification and increase its confidence in the mineral inventory. Four diamond holes were drilled at Goongarrie Hill to provide quality assurance and control using twin holes for the DFS. A diamond rig is still on site drilling large diameter holes to triple the metallurgical sample holes across the Goongarrie South, Big Four-Scotia Dam and Highway deposits. The company commenced wireframing at Big Four-Scotia Dam and is undertaking similar activities at the Goongarrie South and Highway deposits. It says the initial wireframes will help geostatistical analysis and preliminary resource estimation. Ardea has also made several key design and engineering improvements for the proposed process plant. Testwork on its all-important ore indicated the material was generally soft to medium-hard, with no hard ores identified, which bodes well for ease of future processing. The company is also making progress with the necessary baseline environmental studies, native title discussions and heritage agreements. The imposing Kalgoorlie nickel project-Goongarrie hub is 70 kilometres northwest of Kalgoorlie and contains a significant number of nickel-cobalt and critical mineral deposits. A whopping total resource of 854 million tonnes at 0.71 per cent nickel and 0.045 per cent cobalt for 6.1Mt of contained nickel and 386,000t of cobalt is locked and loaded within its Goongarrie, Kalpini and Yerilla hubs. Goongarrie hosts a 584Mt mineral resource at 0.69 per cent nickel and 0.043 per cent cobalt for 4.044Mt of contained nickel and 250,000t of cobalt. Kalpini and Yerilla hold 270Mt grading 0.76 per cent nickel and 0.05 per cent cobalt for 2.056Mt of nickel and 136,000t of cobalt. Ardea is patiently nudging its mammoth project step-by-step towards development and may end up producing the valuable metals to coincide with electric vehicle makers' and industry's screams for more of the high-quality, clean Aussie minerals. Is your ASX-listed company doing something interesting? Contact:
West Australian
21-05-2025
- Business
- West Australian
Ardea banks $1.2M research rebate to fuel WA nickel development
Ardea Resources has received a significant $1.18 million research and development (R&D) tax incentive rebate from the Australian government for pioneering work on its Kalgoorlie Nickel Project (KNP) in Western Australia's Goldfields region. The timely cash injection for last year's cutting-edge nickel research will boost Ardea's commitment to advancing its globally significant nickel-cobalt resource. The rebate follows a $4.6M strategic placement from Japanese joint venture partner Sumitomo Metal Mining in April, bolstering Ardea's robust cash balance of $12M at last quarter's end. Ardea's R&D efforts have centred on its breakthrough mineralised neutraliser process, a novel approach to nickel-cobalt extraction that has led to an international patent application. The process leverages magnesite saprock at the base of its Goongarrie nickel hub's laterite deposits, segregating it into fines for processing and magnesite scats for neutralising leach discharge solutions. The company says its innovation promises to enhance the efficiency and sustainability of nickel-cobalt production, aligning with global demand for responsibly sourced critical minerals. The KNP is Australia's largest nickel-cobalt resource and has an impressive 854 million tonnes at 0.71 per cent nickel and 0.045 per cent cobalt for a contained 6.1Mt of nickel and 386,000t of cobalt. The Goongarrie hub alone hosts 584Mt of ore, with 4Mt of contained nickel, and is being developed in a 50:50 joint venture with Sumitomo and Mitsubishi. The Japanese consortium is fully funding a $98.5M definitive feasibility study, which Ardea says is on track for completion in the second half of this year, paving the way for a final investment decision by 2027. Ardea's innovative process is a cornerstone of its strategy to establish a low-cost, multi-decade operation. The company's 2023 prefeasibility study projected an extraordinary $800M annual EBITDA over a 40-year mine life, producing 30,000t of nickel and 2000t of cobalt annually from a shallow, flat-lying orebody. The rebate will further support Ardea's ongoing exploration at its advanced project, currently targeting nickel sulphide and critical minerals such as scandium and rare earth elements at its Kalpini hub just next door. With a formidable Japanese consortium in tow and a strengthened balance sheet, Ardea will look to navigate volatile global nickel markets and deliver on its vision of becoming a leading supplier of critical minerals by 2030. As work on the definitive feasibility study progresses, the company continues to lay the groundwork for a potential world class operation that could restore nickel to Australia critical minerals ensemble. Is your ASX-listed company doing something interesting? Contact:
Yahoo
17-02-2025
- Business
- Yahoo
ASX Penny Stocks With Promising Prospects In February 2025
As the Australian market experiences a modest uptick, with ASX 200 futures indicating a slight gain, all eyes are on the Reserve Bank of Australia's anticipated rate cut decision. Amidst these economic dynamics, investors are keenly observing opportunities that may arise from smaller or newer companies often categorized as penny stocks. While the term "penny stocks" might seem outdated, these investments can still offer significant growth potential when backed by strong financial health and solid fundamentals. Name Share Price Market Cap Financial Health Rating Embark Early Education (ASX:EVO) A$0.79 A$144.95M ★★★★☆☆ EZZ Life Science Holdings (ASX:EZZ) A$1.97 A$92.93M ★★★★★★ LaserBond (ASX:LBL) A$0.575 A$67.47M ★★★★★★ Austin Engineering (ASX:ANG) A$0.485 A$300.77M ★★★★★☆ IVE Group (ASX:IGL) A$2.24 A$346.95M ★★★★☆☆ SHAPE Australia (ASX:SHA) A$3.02 A$250.39M ★★★★★★ Dusk Group (ASX:DSK) A$1.08 A$67.25M ★★★★★★ GTN (ASX:GTN) A$0.55 A$108.01M ★★★★★★ Helloworld Travel (ASX:HLO) A$2.09 A$340.29M ★★★★★★ MaxiPARTS (ASX:MXI) A$1.84 A$101.78M ★★★★★★ Click here to see the full list of 1,032 stocks from our ASX Penny Stocks screener. Underneath we present a selection of stocks filtered out by our screen. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Ardea Resources Limited is a battery mineral company in Australia with a market capitalization of A$87.86 million. Operations: The company generates revenue of A$0.32 million from its mineral exploration and development activities. Market Cap: A$87.86M Ardea Resources, a pre-revenue battery mineral company with a market cap of A$87.86 million, is advancing its Kalgoorlie Nickel Project. Despite being unprofitable and experiencing significant losses over the past five years, the company maintains a stable financial position with short-term assets exceeding liabilities and more cash than debt. The recent appointment of experienced metallurgist Michael Rodriguez as an Executive Director is poised to enhance project development efforts for the Goongarrie Hub. With no meaningful shareholder dilution in the past year, Ardea's seasoned management and board are focused on optimizing their strategic initiatives in nickel-cobalt production. Click here and access our complete financial health analysis report to understand the dynamics of Ardea Resources. Assess Ardea Resources' previous results with our detailed historical performance reports. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Betmakers Technology Group Ltd develops and provides software, data, and analytics products for the B2B wagering market across Australia, New Zealand, the United States, the United Kingdom, Europe, and internationally with a market cap of A$116.41 million. Operations: The company's revenue is derived from two main segments: Global Tote, contributing A$54.77 million, and Global Betting Services, generating A$40.43 million. Market Cap: A$116.41M Betmakers Technology Group, with a market cap of A$116.41 million, is navigating the challenges of being unprofitable while maintaining a solid financial footing. The company forecasts higher revenue in the second half of FY25 compared to the first half, benefiting from reduced cloud costs and operating expenses. Despite its volatile share price and inexperienced management team, Betmakers has not significantly diluted shareholders recently and holds sufficient cash to cover liabilities for over three years without debt concerns. However, its negative return on equity and increasing losses highlight ongoing profitability struggles amidst expected revenue growth. Click to explore a detailed breakdown of our findings in Betmakers Technology Group's financial health report. Review our growth performance report to gain insights into Betmakers Technology Group's future. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Southern Palladium Limited, with a market cap of A$41.84 million, is involved in the exploration and development of platinum group metals through its subsidiaries. Operations: Southern Palladium Limited currently does not report any revenue segments. Market Cap: A$41.84M Southern Palladium Limited, with a market cap of A$41.84 million, is pre-revenue and debt-free, focusing on platinum group metals exploration. The company boasts an experienced management team and board, with average tenures of 2.8 and 3.8 years respectively. Despite its unprofitability and negative return on equity (-26.93%), Southern Palladium maintains a stable financial position with sufficient cash to cover operations for over three years without incurring debt or significant shareholder dilution recently. Recent conference presentations highlight ongoing activity updates but do not yet translate into revenue generation or profitability improvements for the company. Navigate through the intricacies of Southern Palladium with our comprehensive balance sheet health report here. Gain insights into Southern Palladium's historical outcomes by reviewing our past performance report. Take a closer look at our ASX Penny Stocks list of 1,032 companies by clicking here. Are you invested in these stocks already? Keep abreast of every twist and turn by setting up a portfolio with Simply Wall St, where we make it simple for investors like you to stay informed and proactive. Simply Wall St is your key to unlocking global market trends, a free user-friendly app for forward-thinking investors. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Jump on the AI train with fast growing tech companies forging a new era of innovation. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:ARL ASX:BET and ASX:SPD. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
