Slide 1: A globally significant source of nickel-cobalt and scandium in Western Australia
A globally significant source of nickel-cobalt and scandium in Western Australia RIU Explorers Conference 15-17 February 2022 Ardea Resources Limited Kalgoorlie Nickel Project Globally significant battery mineral supply
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: Compelling nickel-cobalt market fundamentals
Compelling nickel-cobalt market fundamentals Nickel and cobalt stocks near all time lows and declining Nickel price at 10-year highs and climbing The perfect combination to support development of the largest nickel-cobalt project in Australia, the KNP, and to make value adding nickel sulphide
Slide 4: The money go round
The money go round Central banks printing money at unprecedented levels and growing asset levels Government support to diversify global supply chains at record levels Support for the development of large-scale mineral projects to enable the transition to a low carbon future continues to accele
Slide 5: Ardea offers exceptional nickel-cobalt leverage operating within a global leading ESG Framework
Ardea offers exceptional nickel-cobalt leverage operating within a global leading ESG Framework Market strength Premier location Nickel resource Enhanced flowsheet Strong news flow KNP to fill gap between for jurisdiction, infrastructure 5.9Mt contained nickel, 384kt Desirable MHP production GAS stu
Slide 6: Nickel Sulphide Discovery
Nickel Sulphide Discovery 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 a
Slide 7: Emu Lake Nickel Sulphide Discovery
Emu Lake Nickel Sulphide Discovery Follow-up work Extensive exploration planned, incl: • Drilling and DHEM – Binti South Prospect – Binti Gossan Prospect – Step-out over entire 20km strike extent • 3D geological model to locate where the Western Ultramafic is untested An emerging nickel sulphide cam
Slide 8: Developing KNP – Australia's next major Ni-Co project
Developing KNP – Australia’s next major Ni-Co project Kalgoorlie Nickel Project (KNP) to fill the gap between growing nickel demand and diminishing supply Without nickel laterites there can be no battery revolution Ardea can supply the battery revolution with essential nickel- cobalt from its gl
Slide 9: World's best operating jurisdiction
World’s best operating jurisdiction • All Projects located in Western Australia (WA) • >3,300km2 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
Slide 10: Globally Significant Resource
Globally Significant Resource Globally significant nickel & cobalt Mineral Resource Sustainable & ethical supply of nickel & Critical Minerals for low carbon future Goongarrie Hub - High grade component - 78Mt at 1.0% Ni and 0.069% Co* 784kt contained Nickel 54kt contained Cobalt • Kalgoorlie Ni
Slide 11: Globally Significant Resource
Globally Significant Resource • Kalgoorlie Nickel Project (KNP) tops the table in recent Geological Survey of Western Australia publication February 2022 • KNP is the largest nickel-cobalt resource in Australia and one of the largest in the world • All Goongarrie Hub resources located on granted min
Slide 12: Enhanced flow sheet
Enhanced flow sheet Premium goethite ore (excellent comminution, less abrasive, lower maintenance) MHP sale product during ramp up, in high demand Evaluating PCAM production through FBICRC membership Additional Critical Mineral by-products (current bench-scale metallurgy) Process Metallurgy
Slide 13: KNP: Sustainable and Ethical Nickel Production
KNP: Sustainable and Ethical Nickel Production Off Grid & Low Carbon Footprint KNP Acid plant – Steam Power Flow Diagram • DFS development plan, to include both a High Pressure Acid Leach (HPAL) and an • Heat generated from on-site acid plant will be used for generating Atmospheric Leach (AL) circui
Slide 14: Proven technology
Proven technology Coral Bay HPAL Example Ramp up rates HPAL chemistry is well known and has been applied Horizontal autoclave at Coral Bay built Train 1: 2005, Train 2: 2008 successfully since the 1960s At Coral Bay name plate production capacity exceeded in first year of production Single r
Slide 15: Experienced team working with quality partners
Experienced team working with quality partners Feasibility Study Gap Analysis Study (GAS) completed and DFS underway Goongarrie Hub Hydrogeology Drilling completed – Rockwater & Harrington Goongarrie Hub Metallurgical Drilling completed – contractor DDH1 Metallurgical Testwork Underway – ALS
Slide 16: KNP Development Plan
KNP Development Plan Where we are at: Indicative Pathway to Production Industry leading HPAL and AL practitioner, Mike Miller (previously technical management at the operating Ravensthorpe HPAL operation) leading KNP DFS GAS by international metallurgical consultant, Wood Engineers, on Ardea’s G
Slide 17: Strong ESG – Environment, Social and Governance
Strong ESG – Environment, Social and Governance Environmentally Socially Strong Responsible Socially MindedMinded Strong Governance Governance • Project designs and work • Strong support from the • Values are based on integrity, practices based on ensuring the communities in which we operate empathy
Slide 18: Investment Summary
Investment Summary Ardea’s KNP offers unrivalled nickel and cobalt There is 5.9Mt scale optionality (5.9Mt of nickel and 384kt of cobalt*) Globally significant nickel-cobalt-scandium resource in an infrastructure-rich and stable jurisdiction allows sustainable and ethical mineral supply contained Ni
Slide 19: For further information
For further information Andrew Penkethman, Managing Director & CEO +61 8 6244 5136 ardea@ardearesources.com.au ardearesources.com.au 19
Slide 20: APPENDICES
A globally significant source of nickel-cobalt and scandium in Western Australia For further information regarding Ardea, please visit www.ardearesources.com.au APPENDICES
Slide 21: Ardea Resources Corporate Overview
Ardea Resources Corporate Overview Board and Key Personnel Kalgoorlie Nickel Project – Goongarrie Hub Mathew Longworth Non-Executive Chair Globally significant Nickel, Cobalt and Scandium resource and other Critical Minerals Andrew Penkethman Managing Director & CEO Development of KNP Laterites
Slide 22: Experienced team working with quality partners
Experienced team working with quality partners Board and Key Personnel Balanced financial and corporate experience, strong technical expertise in exploration, discovery, project development, metallurgical optimisation, compliance and operational management Mathew Longworth Non-Executive Chair 33 y
Slide 23: Nickel and the Inevitable Rise in Demand
Nickel and the Inevitable Rise in Demand Demand for batteries is forecast to accelerate over the next decade as energy storage becomes critical to the transformation of energy systems KNP poised to supply nickel and cobalt to meet the inevitable and growing rise in demand A KNP is required eve
Slide 24: 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 Cawse
Slide 25: A High-Quality Nickel and Cobalt Project
A High-Quality Nickel and Cobalt Project Outstanding results delivered from 2018 PFS* and PFS of 1Mtpa and 1.5Mtpa base case over a 25- Expansion Studies: year mine life completed 1.0Mtpa 1.5Mtpa 2.25Mtpa Expansion study of 2.25Mtpa with a Status PFS PFS ES 25-year mine life completed No. Trains
Slide 26: KNP Resource Breakdown
KNP Resource Breakdown 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 1
Slide 27: Goongarrie Hub Mineral Resources using a 0.8% Ni cut-off grade
Goongarrie Hub Mineral Resources using a 0.8% Ni cut-off grade 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). Note figures
Slide 28: Goongarrie Deposits Mineral Resources including Sc, using a 0.5% Ni cut-off grade
Goongarrie Deposits Mineral Resources including Sc, using a 0.5% Ni cut-off grade 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
Slide 29: Why Nickel Laterites now?
Why Nickel Laterites now? Increase in nickel Nickel supply Nickel Laterite demand concerns to fill the gap • The battery revolution • Limited Nickel Sulphide (NiS) • Ni Laterite resources need to forecasts a 10x increase in discoveries and long lead times be developed to meet the gap nickel demand b