Ardea Resources Ltd. · ASX:ARL
Ardea Resources — RIU Explorers Conference 2023
34 slides from Ardea Resources's conference presentation, Feb 15, 2023
Slide 1: RIU Explorers Conference Presentation
Kalgoorlie Nickel Project Sustainable and ethical Battery and Critical Minerals RIU Explorers Conference Presentation 15 February 2023
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: Lithium-ion battery sector leads nickel demand growth
Lithium-ion battery sector leads nickel demand growth Currently, China dominates the lithium-ion battery (LIB) supply chain through long term strategic planning, whilst the rest of the world is rapidly trying to catch up. US grants Billions of dollars are being invested in LIB gigafactories, but ‘pr
Slide 4: Nickel Industry Risk by Country
Nickel Industry Risk by Country 84% of nickel projects are in medium/high risk countries Kalgoorlie Nickel Project Low Risk 4
Slide 5: KNP Highlights
Kalgoorlie Nickel Project (KNP) Highlights World Class Premier location 100% Ardea Proven flowsheet Economics Nickel-Cobalt For jurisdiction, infrastructure High level of confidence and MHP production with industry KNP gains national recognition Mineral Resource and technical expertise control behin
Slide 6: EVs and energy storage will be key drivers
Nickel use, rapidly growing demand and declining stockpiles Future supplies of nickel will be needed Nickel Price relative to LME Warehouse New supply of nickel from unidentified resources needed by 2050 is 1.3Mt under base stock levels 2018 to 2023 case scenario (ETO) and > 2.8Mt under the accelera
Slide 7: World's best operating jurisdiction
World’s best operating jurisdiction • All Ardea Projects located in Western Australia • >4,000km2 ground position in Eastern Goldfields • City of Kalgoorlie-Boulder is the prime global resource development and operating destination Very strong mining support from Local Government and Community M
Slide 8: Optimum Location - sustainable and ethical mineral supply
Optimum Location - sustainable and ethical mineral supply Ardea’s large contiguous KNP land holding allows unimpeded site planning to minimise ultimate site footprint in open Mediterranean woodlands highly amenable to low-impact development and rapid rehabilitation • Semi-arid environment, facilitat
Slide 9: 78Mt at 1.0% Ni and 0.069% Co
The KNP is a Globally Significant Asset…. and Australia’s largest nickel-cobalt resource Mineral Resource Estimate 5.9Mt contained nickel & 348kt contained cobalt* Goongarrie Hub - High grade component: 78Mt at 1.0% Ni and 0.069% Co* 784kt contained Nickel, 54kt contained Cobalt Kalgoorlie Nickel Pr
Slide 10: Simple Mining Characteristics
Simple Mining Characteristics 25km strike AGSD0001 Goongarrie Deposits • 25km strike - Uniform Ni-Co laterite mineralisation dominated by goethite • Goethite is ‘Best in Class’ plant feed • Soft, mainly free-digging open-pit mining • Low strip ratio expected with resource optimisation underway for u
Slide 11: Learning from other HPAL operations
Learning from other HPAL operations Ardea’s KNP Goongarrie Hub development scale is 3.5Mtpa (2 x 1.5Mtpa HPAL + 0.5Mtpa AL circuit) We have selected this combination by learning from other HPAL operations around the world, including the successful Coral Bay and Ravensthorpe operations and some Indon
Slide 12: Enhanced flowsheet
Enhanced flowsheet Premium goethite ore is ‘Best in Class’ plant feed MHP sale product during ramp up, is the high demand new Class 1 nickel Evaluating PCAM production through FBICRC membership Additional Critical Mineral by-product studies * See Appendix, KNP Superior HPAL Intensity slide,
Slide 13: Enhanced flowsheet
Enhanced flowsheet Premium goethite ore is ‘Best in Class’ plant feed MHP sale product during ramp up, is the high demand new Class 1 nickel Evaluating PCAM production through FBICRC membership Additional Critical Mineral by-product studies * See Appendix, KNP Superior HPAL Intensity slide,
Slide 14: Enhanced flowsheet - Mineralised Neutraliser circuit
Enhanced flowsheet – Mineralised Neutraliser circuit • KNP PFS has focused on the metallurgy of Material Types to evaluate and match specific mineralisation styles to the HPAL, AL and Mineralised Neutraliser circuits • A game changer is the simple low-cost screening to separate the Serpentine- Goeth
Slide 15: KNP sustainable and ethical production
KNP sustainable and ethical production Nickel industry CO2e curve (Scope 1 and 2 only) for 2021 Ardea’s provisional CO2 emission calculations sit at less than half the weighted average and less than a quarter of Indonesian Matte production 15
Slide 16: In pit tailings disposal and progressive rehabilitation
In pit tailings disposal and progressive rehabilitation Local neutraliser & imported lime for tailings neutralisation Neutralised tailings aggregate pumped into exhausted open pit void Waste material from previous mining can be blended in Return to natural land surface and vegetation of the Great We
Slide 17: KNP Development Plan
KNP Development Plan Proven team working with quality partners Team strengthened with the appointment of well-respected Project Director, Matthew Read. Starts 27 February 2023 Industry leading HPAL practitioner, Mike Miller (previously technical mgt at the operating Ravensthorpe HPAL/AL operatio
Slide 18: Nickel Sulphide Upside
Nickel Sulphide Upside Nickel Sulphide discovery at Emu Lake 70km north-east of Kalgoorlie within the KNP Kalpini Hub Exploration at Binti South Prospect confirms high-grade massive nickel-copper- PGE sulphide discovery on the Western Ultramafic (WU): AELD0003: 2.72m at 5.42% Ni and 0.85% Cu f
Slide 19: Emu Lake Nickel Sulphide Discovery
Emu Lake Nickel Sulphide Discovery Geological model confirmed Diamond drilling during Sep 2022 Quarter, intersected nickel sulphide mineralisation and demonstrated An emerging the potential for both high grade massive and disseminated nickel sulphides nickel-copper- 3D modelling completed based
Slide 20: Goongarrie West - Ionic Adsorption Clay Rare Earth Discovery
Goongarrie West - Ionic Adsorption Clay Rare Earth Discovery As part of the KNP PFS, a drilling program designed to finalise the site layout at Goongarrie Hub, was to test Rare Earth Element (REE) targets previously generated by Ardea’s Critical Minerals R&D Three single hole traverses, 1km apar
Slide 21: Goongarrie West - Ionic Adsorption Clay Rare Earth Discovery
Goongarrie West - Ionic Adsorption Clay Rare Earth Discovery *ARL ASX 30 January 2023 21
Slide 22: Exploration Lithium
Exploration Lithium Ardea’s strategic KNP tenement portfolio offers unrivalled Critical Minerals exploration upside Leading consultant, CSA Global, have recently completed a desktop review of LCT pegmatite and REE potential over Ardea’s tenements including a project ranking The Perrinvale proj
Slide 23: ESG - Certified
ESG – Certified Commenting on the assessment, Mr Jamie Strauss, the founder and CEO of Digbee said: “The leadership team of Ardea has shown, throughout their submission, clear incorporation of ESG principles and sustainability priorities as part of the Company’s vision and value. This early-stage em
Slide 24: Strong ESG - Environment, Social and Governance
Strong ESG – Environment, Social and Governance Ardea’s work practices, designs and policies all aim to produce an ethical and sustainable source of nickel and cobalt Mr Andrew Penkethman, Managing Director and CEO of Ardea: “Our commitment to a transparent ESG strategy, reporting and continuous imp
Slide 25: The Ardea investment fundamentals are compelling
The Ardea investment fundamentals are compelling… ~40kg of Nickel^ Powering the typical NCM811 Electric Vehicle (EV) Enough for 5.9Mt >147 million contained Nickel in the KNP* Electric Vehicles Successful Premier Nickel Proven Market local team location resource flowsheet strength All Board members
Slide 26: For further information
For further information Andrew Penkethman Managing Director & CEO +61 8 6244 5136 ardea@ardearesources.com.au ardearesources.com.au 26
Slide 27: Appendices
Kalgoorlie Nickel Project Sustainable and ethical nickel-cobalt for the battery mineral supply chain Appendices
Slide 28: Ardea Resources Corporate Overview
Ardea Resources Corporate Overview Board Executive Management Team Mathew Longworth Non-Executive Chair Sam Middlemas Company Secretary Andrew Penkethman Managing Director & CEO Rebecca Moylan Chief Financial Officer Ian Buchhorn Executive Director Matthew Read Project Director Matthew McCarthy GM -
Slide 29: The Growth of Ardea
The Growth of Ardea Kalgoorlie Nickel Project Sustainable and ethical nickel-cobalt for the battery mineral supply chain 29
Slide 30: Experienced team working with quality partners
Experienced team working with quality partners Board and Executive Management Personnel Balanced financial and corporate experience, strong technical expertise in exploration, discovery, project development, metallurgical optimisation, compliance and operational management Mathew Longworth Non-Exe
Slide 31: KNP Superior HPAL Intensity
KNP Superior HPAL Intensity Good ore grade + good slurry density = Lower Capex & Opex $$ Atmospheric leach = stable operation, utilizes saprolite resource MHP Product = known technology & good market acceptance Operating data from Australian HPAL Producers Performance Driver Ardea Bulong# Caws
Slide 32: KNP Mineral Resource
KNP Mineral Resource Kalgoorlie Nickel Project nickel-cobalt JORC Code (2012) Mineral Resource Estimate Resource Size Ni Co Contained Metal Camp Prospect Category (Mt) (%) (%) Ni (kt) Co (kt) KNP TOTAL Measured 22 0.94 0.079 207 17 Indicated 357 0.72 0.047 2,584 168 Inferred 452 0.68 0.044 3,088 199
Slide 33: Goongarrie Hub Mineral Resource
Goongarrie Hub Mineral Resource (0.8% Ni cut-off) Summary of Mineral Resource Estimate from the Goongarrie Hub, based on a 0.8% Ni cut-off grade, comprising resources at Goongarrie Hill, Goongarrie South, Highway, Big Four, Scotia Dam and Highway (ASX release 16 June 2021). Resource Tonnes Ni Co Con
Slide 34: Goongarrie Hub Mineral Resources inc Sc
Goongarrie Hub Mineral Resources inc Sc (0.5% Ni cut-off) Summary of Mineral Resource Estimate from the Goongarrie deposits based on a 0.5% Ni cut-off grade (ASX release 15 February 2021). Resource Tonnes Ni Co Contained Metal Sc Resources Deposit Category (Mt) % % Ni (kt) Co (kt) Mt Sc ppm Goongarr