Ardea Resources Ltd. · ASX:ARL
Ardea Resources — Benchmark World Digital Tour (World Tour East) 2020
33 slides from Ardea Resources's conference presentation, May 26, 2020
Slide 1: Benchmark World Digital Tour Presentation
Benchmark World Digital Tour Presentation ASX & Media Release 26 May 2020 Ardea Resources Limited (ASX: ARL, Ardea or the Company) is pleased to ASX Symbol announce its participation in the Benchmark World Digital Tour (World Tour East) ARL Webinar to be held on Tuesday 26 May 2020 from 5.00pm AEST
Slide 2: About Ardea Resources
About Ardea Resources Ardea Resources (ASX:ARL) is an ASX-listed resources company, with a large portfolio of 100% controlled West Australian-based projects, focussed on: • Development of the Goongarrie Nickel Cobalt Project, which is part of the Kalgoorlie Nickel Project, a globally significant ser
Slide 3: Benchmark Mineral Intelligence, World Tour East
the Kalgoorlie Nickel Project starting with Goongarrie Nickel-Cobalt for Nickel Sulphides and Gold within the Kalgoorlie Nickel Project Benchmark Mineral Intelligence, World Tour East 26 May 2020 The faceted multi- coloured jewels represent the rich heart of Presented by Andrew Penkethman WA and its
Slide 4: 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 5: Ardea is a well funded Western Australian-focused developer and explorer
Ardea is a well funded Western Australian-focused developer and explorer with a clear strategy to become an integrated feedstock supplier to the Lithium Ion Battery sector The Kalgoorlie Nickel Project (KNP) is the Developed World’s premier nickel-cobalt project with 773 million tonnes at 0.7% nicke
Slide 6: Ardea's flagship is Australia's premier Nickel-Cobalt Project
Ardea’s flagship is Australia’s premier Nickel-Cobalt Project Ardea is poised for ethical supply of Critical Minerals for new electrification technologies Ardea pilot plant nickel sulphate crystal production 4
Slide 7: Western Australia – World Class for Mining
Western Australia – World Class for Mining Western Australia is top ranking in the Fraser Institute’s Annual Survey of Mining Companies - Investment Attractiveness Index* No 1 Ranking is based on a composite of policy and best practice environment with world class regulatory environment, highly
Slide 8: Optimum Jurisdiction
Optimum Jurisdiction All Ardea Projects located in Western Australia (WA) WA is the prime world destination for development of multi-decade minerals operations Mining Act sole responsibility of State of WA, no parallel input from other levels of government Certainty of title demonstrated thr
Slide 9: Optimum Resource Scale
Optimum Resource Scale Assumption is a world-leading Lithium Ion Battery (LIB) investor will require a minimum annual output of 40,000tpa nickel metal in product With 5.6Mt contained nickel*, easily accommodated within the KNP starting with the GNCP >100 year potential supply of resource withi
Slide 10: Optimum Environment for KNP
Optimum Environment for KNP Large contiguous KNP land holding allows unimpeded site planning to minimise ultimate site footprint No conflict between production layout and infrastructure Unlimited flexibility in scheduling production and back-fill of exhausted pits with tailings Temperate woo
Slide 11: The Kalgoorlie Nickel Project
The Kalgoorlie Nickel Project Kalgoorlie Nickel Project (KNP) has a globally significant nickel and cobalt resource 773Mt at 0.7% Ni and 0.05% Co* 5.6 million tonnes contained Nickel 405,000 tonnes contained Cobalt The Goongarrie Nickel Cobalt Project (GNCP) is the western part of broader KN
Slide 12: Goongarrie Nickel Cobalt Project
Goongarrie Nickel Cobalt Project The GNCP is part of the largest Nickel Cobalt Resource in the developed world^ +20km Goongarrie Nickel Cobalt Project, part of the KNP Potential multi-decade producer of high-quality nickel and cobalt products 1.0Mtpa base case PFS – low CAPEX start-up with robus
Slide 13: Kalgoorlie Nickel Project – Ni, Co and Au
Kalgoorlie Nickel Project – Ni, Co and Au (looking south – with GNCP in the foreground. Note the scale and location) BTZ gold controlling +20km structures Goongarrie Nickel Cobalt Project, Ardea tenure in western part red of the Kalgoorlie Nickel Project Ni >0.5% grade shell 11
Slide 14: GNCP Materials Status
GNCP Materials Status Block modelling & mine scheduling completed GS, BF & SD Grades >1.1% Ni & 0.1% Co during Payback Period 1 Additional high grade mill feed confirmed at Goongarrie Hill, Highway and Siberia North (all within 30km of Goongarrie proposed plant site), maintains LOM GNCP leach
Slide 15: Thick, high-grade, single ore type, low strip ratio
Thick, high-grade, single ore type, low strip ratio Well understood mineralogy with consistent nickel and cobalt grades Large scale, long-life open pit mining potential* GNCP drill core showing goethite, which is the dominant host rock containing the nickel and cobalt mineralisation and also the pre
Slide 16: GNCP Material Source, Type and Quality
GNCP Material Source, Type and Quality The high quality of Goongarrie ore is the key to project success: Controls on mineralisation are well understood by applying Ardea’s quality geomet analysis Ardea piloting studies have confirmed on-specification nickel and cobalt sulphate Scandium and Rar
Slide 17: World-Class Mining Standards, Location & Infrastructure
World-Class Mining Standards, Location & Infrastructure Kalgoorlie, Western Australia offers world-class infrastructure in an established mining district Over 130 years of mining in the region Lowest sovereign risk, very strong Local Government support Goongarrie only 80 km north on the main
Slide 18: The Nickel Market – Reserve Life of Major Battery Minerals
The Nickel Market – Reserve Life of Major Battery Minerals High levels of most battery minerals but not nickel Declining nickel reserves Future nickel production not expected to keep up with growing demand, driven mainly by the battery sector Not a matter of if, but when! Nickel supplies m
Slide 19: Projected Nickel Demand from Energy Revolution
Projected Nickel Demand from Energy Revolution NICKEL SULPHATE MARKET BALANCE Current nickel market size ~2.5 million tonnes pa Depending on the scenario for the EV/SSB rate of adoption, annual nickel volumes to meet additional demand vary between 750,000 tonnes and 2 million tonnes pa BALANCE
Slide 20: EV/SSB Evolution & Industry Wide Investment
EV/SSB Evolution & Industry Wide Investment The number of lithium ion battery megafactories in the pipeline has reached 136 versus 63 at end of 2018* China is the global leader in the battery revolution and take up of new technology with the rest of the world playing catch up China is now home
Slide 21: Investment Summary
Investment Summary KNP with “starter” GNCP offers unrivalled nickel and cobalt scale optionality, 5.6Mt of nickel and 405kt of cobalt held by a well-funded junior with $9.2M cash to fund ongoing studies and market cap of only A$36M Globally significant mineral resource in an infrastructure-rich and
Slide 22: APPENDICES
the Kalgoorlie Nickel Project starting with Goongarrie Nickel-Cobalt for Nickel Sulphides and Gold within the Kalgoorlie Nickel Project For further information regarding Ardea, please visit www.ardearesources.com.au The faceted multi- APPENDICES coloured jewels represent the rich heart of WA and its
Slide 23: Corporate Snapshot
Corporate Snapshot Board and Executive Management Team Katina Law Actively involved in the mining industry for over 25 years in corporate and site Non-Executive Chair based roles across several continents, including senior positions at Newmont Mining and LionOre. Non-Executive Chair of Yandal Resour
Slide 24: Kalgoorlie Nickel Project – Approvals Status
Kalgoorlie Nickel Project – Approvals Status Potential for Critical Minerals production from multiple processing hubs and multi-decade mine life, hubs concept engenders excellent resource utilisation and rehabilitation through scheduling optionality All project designs are focused on minimising
Slide 25: Kalgoorlie Nickel Project – Approvals Status
Kalgoorlie Nickel Project – Approvals Status Status and progress towards Project Approvals Community consultation current with GNCP embraced All GNCP resources on granted mining leases with Regional Native Title agreement in place for continued grant of development tenure Development on track wi
Slide 26: A High Quality Nickel and Cobalt Project
A High Quality Nickel and Cobalt Project Outstanding results delivered from PFS* and Expansion Studies completed in 2018: PFS of 1Mtpa and 1.5Mtpa base case over a 25-year mine life completed 1.0Mtpa 1.5Mtpa 2.25Mtpa Status PFS PFS ES Expansion study of 2.25Mtpa with a 25-year mine life complete
Slide 27: KNP Resource Breakdown
KNP Resource Breakdown KNP nickel-cobalt JORC Code (2012) Mineral Resource Resource category Size Nickel Cobalt Contained metal (Mt) (%) (%) Ni (t) Co (t) Measured 9.6 1.02 0.10 98,800 9,700 Indicated 232.9 0.75 0.06 1,759,700 141,200 Inferred 530.5 0.68 0.05 3,600,000 254,400 TOTAL 773.0 0.70 0.05
Slide 28: Goongarrie Nickel Cobalt Project Resources
Goongarrie Nickel Cobalt Project Resources Summary of total mineral Nickel Cobalt Project area, comprising resources at Goongarrie Hill, Goongarrie South, resources within the Goongarrie Big Four, and Scotia Dam (ASX release 14 March 2018). Camp Domains Cut-off Resource Size Nickel Cobalt Contained
Slide 29: Our Flagship Goongarrie Nickel - Cobalt Project
Our Flagship Goongarrie Nickel - Cobalt Project Goongarrie JORC Resource 215.6 Mt at 0.71% nickel and 0.06% Ardea tenure in cobalt red Reserves optimised for 25 year mine life only, less than 20% of Goongarrie resource utilised at this scale (40.1 Mt at 0.82% Nickel & 0.09% Cobalt*) Ni >0.5% grade s
Slide 30: Reserves Defined for Goongarrie Nickel Cobalt Project
Reserves Defined for Goongarrie Nickel Cobalt Project* Goongarrie Nickel Cobalt Project, Ore Reserves based on 25 year mine life at 1.5 Mtpa. Size Nickel Cobalt Deposits Class (Mt) (%) (%) Goongarrie South Proven 8.95 0.96% 0.10% Using a nickel equivalent cut of >0.81%, which Probable 17.26 0.79% 0.
Slide 31: Resource Comparison
Resource Comparison RESOURCES - AUSTRALIAN BULK TONNAGE NICKEL Ardea1 Kalgoorlie Nickel Project, WA Nickel Laterite Classification Mt % Ni % Co ppm Sc tonne Ni tonne Co tonne Sc Measured 9.6 1.03 0.10 not quoted 98,800 9,700 Indicated 232.9 0.76 0.06 not quoted 1,759,600 141,200 Inferred 530.5 0.68
Slide 32: Reserve Comparison
Reserve Comparison RESERVES - AUSTRALIAN BULK TONNAGE NICKEL Ardea1 Kalgoorlie Nickel Project, WA Nickel Laterite Classification Mt % Ni % Co ppm Sc tonne Ni tonne Co tonne Sc Proved 9.0 0.96 0.10 not quoted 85,920 8,950 Probable 31.18 0.78 0.09 not quoted 243,538 28,062 Total 40.1 0.82 0.09 not quo
Slide 33: Exploration Upside
Exploration Upside >5,100km2 of 100% controlled tenure in one of Australia’s premier gold and nickel sulphide provinces Extensive tenure position provides multiple strategic options Priority focus on flagship KNP and GNCP Active exploration: nickel sulphide, amenable to autoclave feed, pot
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