Ardea Resources Ltd. · ASX:ARL

Ardea Resources — Goldfields Esperance Major Projects Conference 2022

33 slides from Ardea Resources's conference presentation, Sep 20, 2022

  1. Slide 1: Goldfields Esperance Major Projects Conference

    Goldfields Esperance Major Projects Conference 21 September 2022 Kalgoorlie Nickel Project Sustainable and ethical nickel-cobalt for the battery mineral supply chain

  2. 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

  3. Slide 3: Kalgoorlie Nickel Project (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

  4. Slide 4: Standard metrics to look at when rating a project

    Standard metrics to look at when rating a project 4

  5. Slide 5: Why KNP rates highly in all metrics

    Why KNP rates highly in all metrics Premier location for mining and production, with Western Australia rated Current as best in world Current FS Feasibility Study work streams work streams: building on 2018 PFS Q1, 2023 – PFS and Expansion Study Ore Reserve & update Kalgoorlie Nickel Project of fina

  6. Slide 6: China dominates through long term strategic planning

    China dominates through long term strategic planning Indonesia produces around 40% of total nickel, but little of this is currently used in the EV battery China dominates supply chain Indonesian laterite production ADAPTED after IEA graph Sources: IEA analysis based on: EV Volumes; Notes: Ni = nicke

  7. Slide 7: Nickel use, rapidly growing demand and declining stockpiles

    Nickel use, rapidly growing demand and declining stockpiles The future is nickel rich batteries… 7

  8. Slide 8: More Nickel and Cobalt mines needed

    More Nickel and Cobalt mines needed Kalgoorlie Nickel Project’s nickel-cobalt production is essential to help meet demand Notes: STEPS = Stated Policies Scenario; APS = Announced Pledges Scenario. Number of additional mines/plants/factories required to meet projected demand from the 2021 demand leve

  9. Slide 9: Lithium-ion battery sector leads nickel demand growth

    Lithium-ion battery sector leads nickel demand growth Lithium-ion battery supply chain US grants ‘preferred • China dominates the lithium-ion battery (LIB) supply chain through long term strategic status for Australian planning mineral exports • The rest of the world is rapidly trying to catch up Jo

  10. Slide 10: World’s best operating jurisdiction

    World’s best operating jurisdiction • All Projects located in Western Australia (WA) • 4,271km2 ground position in Eastern Goldfields • City of Kalgoorlie-Boulder is the prime resource development and operating destination within WA  Very strong mining support from Local Government and Community 

  11. Slide 11: Optimum Location - sustainable and ethical mineral supply

    Optimum Location - sustainable and ethical mineral supply • Large contiguous KNP land holding allows unimpeded site planning to minimise ultimate site footprint • Open Mediterranean woodland highly amenable to low-impact development and rehabilitation • Semi-arid environment, facilitates well manage

  12. Slide 12: 78Mt at 1.0% Ni and 0.069% Co

    The KNP is a Globally Significant Resource…. and Australia’s largest nickel-cobalt resource  Globally significant Mineral Resource 5.9Mt contained nickel & 348kt contained cobalt  Sustainable & ethical supply of nickel & Critical Minerals for low carbon future Goongarrie Hub - High grade component

  13. Slide 13: Simple Mining Characteristics

    Simple Mining Characteristics 25km strike AGSD0001 Goongarrie Hub • 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 in progress to defi

  14. Slide 14: Enhanced flow sheet

    Enhanced flow sheet  Premium goethite ore (excellent comminution, less abrasive, lower maintenance)  MHP sale product during ramp up, in high demand and is the new Class 1 nickel  Evaluating PCAM production through FBICRC membership  Additional Critical Mineral by-products (current bench-scale m

  15. Slide 15: Learning from other HPAL operations

    Learning from other HPAL operations Ardea’s KNP project scale has been set at 3.5Mtpa comprising 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 In

  16. Slide 16: KNP Development Plan

    KNP Development Plan Experienced team working with quality partners  Industry leading HPAL and AL practitioner, Mike Miller (previously technical management at the operating Ravensthorpe HPAL operation) leading KNP FS  PFS in progress on 3.5Mtpa base case producing MHP - Completion Q1, 2023  Feed

  17. Slide 17: KNP sustainable and ethical production

    KNP sustainable and ethical production 17

  18. Slide 18: Tailings Storage in pit disposal and progressive rehabilitation

    Tailings Storage in pit 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

  19. Slide 19: Projected local workforce – KNP Goongarrie Hub

    Projected local workforce – KNP Goongarrie Hub 2022 CONSTRUCTION KNP IN PRODUCTION Management, Ardea Labour technical, > 1500 financial and estimated Production 350 administration workforce Maintenance 100 workforce of 18 The estimates presented on this Admin 100 based in slide are based on past and

  20. Slide 20: Nickel Sulphide Upside

    Nickel Sulphide Upside Nickel Sulphide discovery at Emu Lake  70km north-east of Kalgoorlie on a granted mining lease within 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

  21. Slide 21: Emu Lake Nickel Sulphide Discovery

    Emu Lake Nickel Sulphide Discovery Geological model confirmed Extensive exploration underway, including: • Drilling and DHEM and interpretation of results for – Binti South Prospect – Binti Gossan Prospect – New target 6km south of Binti Gossan • 3D geological model to locate where the Western Ultra

  22. Slide 22: Why invest in Ardea

    Why invest in Ardea - The fundamentals are compelling… Market strength Premier location Nickel resource Proven flowsheet Successful local team KNP to fill gap between For leading ESG standards, 5.9Mt contained nickel, Desirable MHP production All Board members have lived growing nickel demand jurisd

  23. Slide 23: For further information

    For further information Andrew Penkethman, Managing Director & CEO +61 8 6244 5136 ardea@ardearesources.com.au ardearesources.com.au 23

  24. Slide 24: Appendices Kalgoorlie Nickel Project

    Appendices Kalgoorlie Nickel Project Ethical and sustainable nickel-cobalt for the battery mineral chain

  25. Slide 25: 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 CFO Ian Buchhorn Executive Director Matthew McCarthy GM - Exploration Alex Mukherji GM - Land Access & Comp

  26. Slide 26: Strong ESG – Environment, Social and Governance

    Strong ESG – Environment, Social and Governance Ethically Socially Strong Sustainable Minded Governance • Project designs and work • Strong support from the • Values are based on practices based on ensuring communities in which we respect, integrity, empathy, the Company minimises operate a local of

  27. Slide 27: 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

  28. Slide 28: 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

  29. Slide 29: A high-quality nickel and cobalt project

    A high-quality nickel and cobalt project Outstanding results delivered from 2018 PFS* and Expansion Studies Flow sheet enhanced and project scale increased for in progress Feasibility Study  2018 PFS of 1Mtpa and 1.5Mtpa base case over a 25-year mine life 1.0Mtpa 1.5Mtpa 2.25Mtpa completed (one aut

  30. Slide 30: 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

  31. Slide 31: Goongarrie Hub Mineral Resource (0.8% Ni cut-off)

    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

  32. Slide 32: Goongarrie Hub Mineral Resources inc Sc (0.5% Ni cut-off)

    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

  33. Slide 33: Kalgoorlie Nickel Project

    Kalgoorlie Nickel Project

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