Ardea Resources Ltd. · ASX:ARL
Ardea Resources — Diggers & Dealers Mining Forum 2023
27 slides from Ardea Resources's conference presentation, Aug 9, 2023
Slide 1: Kalgoorlie Nickel Project Goongarrie Hub
For personal use only Kalgoorlie Nickel Project Goongarrie Hub Diggers and Dealers Mining Forum Presentation 9 August 2023
Slide 2: Disclaimer
Disclaimer For personal use only 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 p
Slide 3: Ardea Corporate Overview
Ardea Corporate Overview For personal use only 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 Matt Read Project Director Maree Arnaso
Slide 4: Nickel and Cobalt Market – Strong Demand Fundamentals
Nickel and Cobalt Market – Strong Demand Fundamentals For personal use only • Current producers of nickel will not meet demand forecasts with all known resources needing to be developed to help meet demand • Global cobalt demand is set to double by 2030, driven by battery applications and exacerbate
Slide 5: Kalgoorlie Nickel Project – Globally Significant Nickel & Cobalt Resource
Kalgoorlie Nickel Project – Globally Significant Nickel & Cobalt Resource For personal use only • The Kalgoorlie Nickel Project (KNP) global Mineral Resource Estimate1 (MRE) is 854Mt at 0.71% Ni and 0.045% Co for 6.1Mt contained nickel and 386kt contained cobalt • The KNP Goongarrie Hub MRE1 now sta
Slide 6: For personal use only
KNP globally strategic significant resource, in KNP MRE For personal use only the best operating 6.1Mt jurisdiction in the world nickel & 386kt cobalt KALGOORLIE NICKEL PROJECT GOONGARRIE HUB - 6
Slide 7: KNP Goongarrie Hub Ore Reserve
Highway KNP Goongarrie Hub Ore Reserve1 For personal use only • 1.36Mt of nickel metal Goongarrie Hill • 99kt of cobalt metal • Resource defined by >5,000 drill holes for Cross Section 666 9600mN >250km of drilling Goongarrie South Big Four / Scotia Dam Siberia North 1. See fullNICKEL tables inPROJE
Slide 8: KNP Goongarrie Hub – Cross Section through Goongarrie South
KNP Goongarrie Hub – Cross Section through Goongarrie South For personal use only AGSD0001 Goongarrie South Pamela Jean Deeps 100.80m @ 1.00% Ni, 0.08% Co from 34m Section 666 9600mN 24.84m @ 1.10% Ni, 0.08%Co from 140.2m 10.00m @ 96g/t Sc from 24m 42m @ 0.67% Ni, 0.04% Co from 30m 56m @ 1.29% Ni, 0
Slide 9: Kalgoorlie Nickel Project – Goongarrie Hub Mining Study
Kalgoorlie Nickel Project – Goongarrie Hub Mining Study For personal use only • Goongarrie Hub Ore Reserve1 of 194.1Mt at 0.70% Ni and 0.05% Co for 1.36Mt of nickel and 99,000t of cobalt to sustain greater than 40-year mine life • Production of approximately 30,000t of nickel and 2,000t of cobalt pe
Slide 10: Goongarrie Hub Processing Plant
For personal use only Goongarrie South Goongarrie Hub Processing Plant Desirable Flowsheet Proven Technology 3.5Mtpa - 2 x 1.5Mtpa HPAL autoclaves plus 0.5Mtpa AL circuit KALGOORLIE NICKEL PROJECT GOONGARRIE HUB - 10
Slide 11: KNP Goongarrie Hub Financials
KNP Goongarrie Hub Financials 44,429 Updated Ore Reserve Nickel Revenue A$ M For personal use only Cobalt Revenue A$ M 7,880 & PFS defines Freight parity A$ M -1,337 Revenue - combined A$ M 52,309 +40-year operation with EBITDA LOM A$ M 34,217 strong financial EBITDA Annual (average) EBITDA margin A
Slide 12: Goongarrie Hub – Low Cost Mining and Production
Goongarrie Hub – Low Cost Mining and Production For personal use only Goongarrie Hub C1 cost including Co credit compares very well on the global cost curve KALGOORLIE NICKEL PROJECT GOONGARRIE HUB - 12 Note: based on data from Company filings.
Slide 13: Ardea sign KNP Goongarrie Hub MOU
Ardea sign KNP Goongarrie Hub MOU For personal use only • Ardea has signed a non-binding MOU to work with a well- regarded and experienced Japanese Consortium comprised of Sumitomo Metal Mining Co., Ltd, Mitsubishi Corporation, and Mitsui & Co., Ltd1 • Ardea and the Consortium are defining a scope o
Slide 14: Why KNP Goongarrie Hub is a Compelling Investment Opportunity
Why KNP Goongarrie Hub is a Compelling Investment Opportunity For personal use only Ardea will be a Note: large, long term • Producers in blue, other colours are Developers (who have proposed annual nickel-cobalt nickel production and EBITDA based on latest feasibility study) • See Appendices for Re
Slide 15: Why KNP Goongarrie Hub is a Compelling Investment Opportunity
Why KNP Goongarrie Hub is a Compelling Investment Opportunity For personal use only Ardea has one of the largest Note: nickel • Contained Ni Metal is reported Total Mineral Resource (M+I+Inf) • See Appendices for References used for Company estimates endowments of listed peers and unrivalled growth
Slide 16: ESG credentials strengthened during PFS
ESG credentials strengthened during PFS For personal use only In-pit tailings KNP – Goongarrie Hub – LCA Climate Change Contribution Analysis disposal minimises environmental footprint and enables mine site rehabilitation, concurrent with steady-state mine operation. Life Cycle Assessment (LCA) is e
Slide 17: Outstanding Growth Potential Identified During PFS
Outstanding Growth Potential Identified During PFS For personal use only • Several opportunities exist with substantial benefits to the financial metrics expected and include: Addition of a scandium recovery circuit Optimisation of existing processing circuit Optimisation of the rate of throug
Slide 18: Key Investment Considerations – For a must have nickel-cobalt stock
Key Investment Considerations – For a must have nickel-cobalt stock For personal use only The KNP is the largest nickel – cobalt resource in Australia and a globally strategic asset owned 100% by Ardea Located in the premier resources operating jurisdiction in the World Goongarrie Hub resource
Slide 19: For further information
For personal use only For further information Andrew Penkethman Managing Director & CEO +61 8 6244 5136 www.ardearesources.com.au ardea@ardearesources.com.au Visit the Ardea Team at booth #92
Slide 20: Appendices
For personal use only Appendices Photograph of Esperance Port, WA, courtesy of Southern Ports Authority
Slide 21: Competent Persons
Competent Persons For personal use only Information in this presentation has been summarised from ARL ASX MRE Announcement 30 July 2023, ARL ASX PFS Announcement 5 July 2023 Ore Reserves and ARL ASX MOU Announcement 5 July 2023. Ardea wishes to clarify that its current Kalgoorlie Nickel Project (KNP
Slide 22: KNP Global MRE
KNP Global MRE KNP Global nickel and cobalt Mineral Resources based on a 0.5% Ni cut-off grade Contained Contained For personal use only KNP Hub Resource Category Size (Tonnes) Ni (%) Co (%) Ni (kt) Co (kt) Goongarrie Hub Measured 18,200,000 0.94 0.085 171 15 Indicated 276,500,000 0.70 0.046 1,923 1
Slide 23: KNP Goongarrie Hub nickel and cobalt Mineral Resources
KNP Goongarrie Hub nickel and cobalt Mineral Resources based on a 0.5% Ni cut-off grade KNP Goongarrie Hub Prospect Resource Size Ni Co Contained Metal Estimation Details Category (Mt) (%) (%) Ni (kt) Co (kt) Method Source Year MRE For personal use only Measured 18 0.94 0.085 171 15 LUC Ardea 2021 G
Slide 24: KNP Goongarrie Hub Ore Reserve Summary
KNP Goongarrie Hub Ore Reserve Summary consisting of ore above 0.5% Ni as the feed stock for the KNP Goongarrie Hub processing facility, and ore as Mineralised Neutraliser above 0.5% Nieq and LOI above 25% Ore >= 0.5% Ni Ore > 0.5% NiEq and LOI > 25% Total Ore Ore Reserve Summary For personal use on
Slide 25: References for Comparison Data
All Share Prices/Shares on Issue from S&P Capital IQ – 2 August 2023 References for ASX:IGO Cash/Debt 31 Jul 2023 June 2023 Quarter Presentation 5 https://announcements.asx.com.au/asxpdf/20230731/pdf/05s3yjb49kcv2z.pdf EBITDA 31 Jul 2023 June 2023 Quarter Presentation (Nickel EBITDA only) 15-16 http
Slide 26: References for Comparison Data
All Share Prices/Shares on Issue from S&P Capital IQ – 2 August 2023 ASX:ARL Cash/Debt 27 Jul 2023 Quarterly Operations Report 33 https://announcements.asx.com.au/asxpdf/20230727/pdf/05s04dt912fych.pdf References for KNP Goongarrie Hub Ore Reserve & Feasibility Study Defines +40 Year operation with
Slide 27: Desirable Flowsheet Using Proven Technology
Desirable Flowsheet Using Proven Technology For personal use only MHP Acid Plant Power Plant HPAL SN PN Goethite Grind AL Mineralised Neutraliser Silica-Goethite Bene 3.5Mtpa - 2 x 1.5Mtpa HPAL plus 0.5Mtpa AL KALGOORLIE NICKEL PROJECT GOONGARRIE HUB - 27
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