Ardea Resources Ltd. · ASX:ARL
Ardea Resources — Tribeca Future Facing Commodities Conference 2025
32 slides from Ardea Resources's conference presentation, April 2025
Slide 1: Kalgoorlie Nickel Project – Goongarrie Hub
Kalgoorlie Nickel Project – Goongarrie Hub Andrew Penkethman Managing Director & CEO Tribeca Future Facing Commodities Conference Singapore April 2025 Page 1 ASX:ARL
Slide 2: Disclaimer
Disclaimer Important notice This presentation contains general information only and is, or is based upon, information which has been released to ASX or is contained in the Ardea Resources Limited (Ardea or the Company) prospectus dated 9 November 2016 (including supplementary prospectuses dated 18 N
Slide 3: Ardea Resources - Snapshot
Ardea Resources - Snapshot Mat Longworth Non-Executive Chair Experienced across exploration, project evaluation / development including KNP and corporate management Experienced Board & management, respected Partners, Andrew Penkethman MD & CEO supportive Shareholders, tight capital structure Experie
Slide 4: Multi-decade nickel-cobalt Mineral Resource
Multi-decade nickel-cobalt Mineral Resource1 The largest nickel-Cobalt MRE1 in Australia, located in Tier 1 jurisdiction KNP KNP Goongarrie Hub - 584Mt at 0.69% Ni and 0.043% Co for 4Mt of contained Ni and 250kt of contained Co 1 DFS fully funded by Partners 2 Infrastructure Advantages: ✓ Highway Re
Slide 5: Experienced international partners
Experienced international partners Partnership validates globally significant Critical Minerals source Staged earn in agreement with Sumitomo Metal Mining & Mitsubishi Corporation via sole funding of Kalgoorlie Nickel Pty Ltd (KNPL) in progress DFS Managing KNP Goongarrie Hub up to A$98.5M1,2 Defini
Slide 6: +40 year project, significant growth potential
+40 year1 project, significant growth potential Nationally strategic KNP Goongarrie Hub to strengthen the battery minerals supply chain for decades Highway Deposit 17km Goongarrie Hill 2023 PFS1 • Average 30ktpa Ni and 2ktpa Co • +40 years forecast operation • C1 cost ~US$6,000/t to ~US$10,000/t2 Go
Slide 7: Potential first quartile costs
Potential first quartile costs Goongarrie cost advantages provide margin through nickel price cycles • PFS2 Low C1 Opex after Cobalt credit of US$5,763/t Ni in MHP LOM compares well with Indonesian Opex • Australia’s recently approved tax credit3: A B ✓Provides 10% refund against processing costs (6
Slide 8: Unique characteristics drive low cost
Unique characteristics drive low cost Potential lowest cost producer thanks to KNP Goongarrie Hub ore deposit characteristics & geometry Goethite Premium Ore • 25km continuous strike Mineralised Neutraliser 2 • Mainly free-digging ore makes up ~70% of Plant Feed1 • Low acid consumption and energy re
Slide 9: Battery demand to grow 7-fold by 2040
Battery demand to grow 7-fold by 2040 Nickel demand continues to grow via emerging markets and the evolving energy transition • Record 17 million Electric Vehicles (EV) sales for 2024, global EV sales grew by 25% in 2024 compared to 20231 • The EV market started 2025 with 18% growth, and 1.3 million
Slide 10: Security and diversity of Critical Minerals
Security and diversity of Critical Minerals KNP Goongarrie Hub production is aligned with forecast nickel market deficits towards end of decade With global uncertainty increasing, Goongarrie Hub’s forecast scale & long life provides strategic benefits: RC Infill Drilling ✓ security of supply chain K
Slide 11: Ardea Exploration Pipeline Upside
Ardea Exploration Pipeline Upside Battery and Critical Mineral exploration potential Ardea controls ~3,500km2 of tenure in the Eastern Goldfields of WA with unrivalled exploration potential • Kalpini Project - Massive nickel-copper-PGE sulphides discovered at Emu Lake (AELD0003: 2.72m at 5.42% Ni &
Slide 12: Operating to high ESG standards
Operating to high ESG standards Recruiting and retaining Strong leadership & We engage early with Innovative design governance the best people, building a skilled, passionate team First Nations Delivering a diverse, Reducing CO2 Workforce of ~50 Communities for resilient and emissions & meaningful o
Slide 13: Near-term news flow from underway Goongarrie DFS
Near-term news flow from underway Goongarrie DFS KNP Goongarrie Hub DFS targeting completion late 2025 Page 13 ASX:ARL
Slide 14: KNP Goongarrie Hub: An Australian nickel project with the best possible Partners
KNP Goongarrie Hub: An Australian nickel project with the best possible Partners, Sumitomo Metal Mining Co., Ltd and Mitsubishi Corporation >40 year mine life DFS Underway Project to boost Long term supply with expansion potential Consistent news flow with national, state & of low cost1,2 Producing
Slide 15: For further information
For further information Andrew Penkethman Managing Director & CEO +61 8 6244 5136 ASX:ARL ardea@ardearesources.com.au Keep up to date with news, videos and more at our website: www.ardearesources.com.au or follow our socials Youtube - Free social media icons A black background with a black square De
Slide 16: Appendix 1 Reserves & Resources
Appendix 1 Reserves & Resources Page 16 ASX:ARL
Slide 17: Appendix - Competent Persons
Appendix 1 - Competent Persons Information in this presentation has been summarised from ARL ASX MRE Announcement 30 June 2023, ARL ASX PFS Announcement 5 July 2023 Ore Reserves and ARL ASX Consortium Announcement 26 April 2024, 14 August 2024 and 30 August 2024. Information in this presentation tha
Slide 18: KNP Global MRE
KNP Global MRE KNP Global nickel and cobalt Mineral Resources based on a 0.5% Ni cut-off grade The Competent Persons (CP) for the Mineral Resources, are Contained Contained Mr Ian Buchhorn and Mr Andrew Penkethman, both are full-time KNP Hub Resource Category Size (Tonnes) Ni (%) Co (%) Ni (kt) Co (
Slide 19: KNP Goongarrie Hub MRE
KNP Goongarrie Hub nickel and cobalt Mineral Resources based on a 0.5% Ni cut-off grade Resource Size Ni Co Contained Metal Estimation Details Prospect Category (Mt) (%) (%) Ni (kt) Co (kt) Method Source Year KNP Goongarrie Hub MRE Measured 18 0.94 0.085 171 15 LUC Ardea 2021 Goongarrie Indicated 82
Slide 20: KNP Goongarrie Hub Ore Reserve Summary
KNP Goongarrie Hub Ore Reserve Summary Ore >= 0.5% Ni Ore > 0.5% NiEq and LOI > 25% Total Ore KNP Goongarrie Hub Ore Reserve Summary consisting of ore Ni Co Ni Co Ni Co Ni Co Ni Co Ni Co above 0.5% Ni as the feed stock for the processing facility, and ore Deposit Mt Mt Mt % % kt kt % % kt kt % % kt
Slide 21: Appendix 2 2023 PFS
Appendix 2 2023 PFS Page 21 ASX:ARL
Slide 22: PFS Key Financial Metrics
PFS Key Financial Metrics Financials PFS defines > 40-year Nickel Revenue A$ M 44,429 operation with strong Cobalt Revenue Revenue - combined A$ M A$ M 7,880 52,309 financial metrics1: EBITDA LOM A$ M 34,217 EBITDA Annual (average) A$ M 800 • Pre-tax NPV7 of A$7,625M (IRR 30%) EBITDA margin % 65% •
Slide 23: PFS 2023 Capital Cost Estimate
PFS 2023 Capital Cost Estimate KNP – Goongarrie Hub Preproduction Cost Category Costs (A$) • Contingency considered appropriate to the level of the capital cost estimate has been included Mining – overheads, mobilisation, 98M • Base date March 2023 pre-strip and other • Refer to 5 July 2023 ARL PFS
Slide 24: DFS Key Budget Items
DFS Key Budget Items The Consortium (SMM and MC) will DFS Cost Centre Costs (A$) fund 100% of the KNP Goongarrie Drilling 13.4M Hub DFS costs, up to the agreed Metallurgical Test Work 2.3M budget of A$98.5 million Mine Design 15.0M (incl dewatering & geotechnical) Process Plant Design 28.3M Building
Slide 25: KNP Goongarrie Hub Superior HPAL Intensity
KNP Goongarrie Hub Superior HPAL Intensity ✓ Good ore grade + good slurry density = Lower Capex & Opex $$ ✓ Atmospheric leach = stable operation, utilizes saprolite resource ✓ MHP & MSP Product = known technology & good market acceptance Operating data from Australian HPAL Producers Performance Driv
Slide 26: Innovated approach to elevate ESG performance
Innovated approach to elevate ESG performance Continual improvement within a responsible ESG framework, enhanced by innovation in plant design • Ardea’s R&D defined MN, within designed pits. This material can replace imported neutralising Mineralised material – reducing need to import lime, Neutrali
Slide 27: 25 years of Goongarrie Hub stakeholder engagement and ore body knowledge
25 years of Goongarrie Hub stakeholder ASX:ARL engagement and ore body knowledge Positive 2018 NSW projects KNP Flowsheet Update to Goongarrie Hub high Awarded Major Project Status. April 2024, Cooperation 1.5Mtpa PFS and divested via is developed and grade Ni and Co resource. Metallurgical testwork
Slide 28: Appendix 3 Metal Markets
Appendix 3 Metal Markets Page 28 ASX:ARL
Slide 29: Potential upside of Scandium as a by-product
Potential upside of Scandium as a by-product1 • Scandium is a lightweight, soft metal with a high melting point, good electrical and heat conductivity. • Scandium as an alloy, increases the strength of aluminium, reduces 20x its weight and improves other qualities • Scandium plays an important role
Slide 30: Appendix 4 KNPL
Appendix 4 KNPL Page 30 ASX:ARL
Slide 31: Partnership detail
Partnership detail Partnership validates KNP Goongarrie Hub’s global significance as a desirable Critical Minerals source 80% 20% Non KNP Goongarrie KNP Goongarrie Hub Incorporated Consortium has received support under Japanese Joint Venture (IJV) Ministry of Economy, Trade and Industry (METI) Hub P
Slide 32: KNP Goongarrie Hub – Strong global interest
KNP Goongarrie Hub – Strong global interest KNPL and Ardea hosted a recent site visit for representatives from JOGMEC, METI and JC Above: The KNPL team with Ardea’s Andrew Penkethman and Michael Rodriguez and representatives from the Japan Organization for Metals and Energy Security (JOGMEC), the Ja
Ardea Resources — Tribeca Future Facing Commodities Conference 2025 on 6ix