Ardea Resources Limited (Ardea or the Company) advises of the retirement of Mr Ian Buchhorn from the Ardea Board, as well as its subsidiaries.
Mr Buchhorn will remain as a technical Executive at Ardea to continue to share his extensive nickel laterite and Eastern Goldfields of Western Australia expertise, until such time as a suitably qualified geoscientist replacement can be employed by Ardea and handover completed. Mr Buchhorn's contribution to Ardea extends to its beginnings as an ASX-listed company in February 2017 when it was spun out from Heron Resources. Prior to that, Mr Buchhorn was the founding Managing Director for ASX-listed Heron Resources in 1996 and transferred to Ardea from Heron to ensure continuity of his extensive knowledge of Ardea's projects.
Mr Buchhorn's tireless efforts in service of Ardea and the KNP ultimately resulted in the publishing of the 2023 KNP Goongarrie-Hub Pre-Feasibility Study1 (PFS) and the incorporated joint venture with Sumitomo Metal Mining and Mitsubishi Corporation to fund the in progress $98.5M Definitive Feasibility Study (DFS)2 . The Company is grateful that, once again, Mr Buchhorn has agreed to maintain his relationship with Ardea and its projects, in particular his extensive experience and knowledge of the KNP, by remaining in his technical Executive role and supporting a smooth transition toward retirement. Commenting on Mr Buchhorn's Board retirement, Ardea Resources NonExecutive Chair Mathew Longworth said: 'The discovery and development of large-scale resource projects such as the KNP is never an easy road.
Ian's unwavering faith in and commitment to, the project for over 25 years stands as a testament to his personal tenacity as well as his considered and scientific approach to the project's development as well as to the Company. On a personal note, I would like to thank Ian for his support during my time with the Company and at this very exciting stage in the KNP Goongarrie Hub's development.'
Managing Director and CEO Andrew Penkethman noted: 'Ian is the heart and soul of the Kalgoorlie Nickel Project (KNP). His focus on quality geology as the fundamental project building block has enabled the KNP to grow and now be recognised as Australia's largest nickel-cobalt resource3 . Ian's ability to assemble the extensive tenement portfolio that comprises the KNP, over more than 20 years, is a credit to his long-term vision and belief in the project and the Eastern Goldfields as the world's premier operating jurisdiction. Along with Ian's passion for geology, he has been a leader in contributing to the local communities within which he has worked, including serving on the City of Kalgoorlie-Boulder Council and contributing to multiple local projects. He has also been ahead of his time in promoting ESG causes, such as Ardea's Eastern Goldfields Education Grant Program, well before ESG was adopted by other companies as the right thing to do. Ian's energy, knowledge, determination and unwavering belief enabled Ardea to complete a technically sound PFS in 2023. This has allowed high quality companies to partner with Ardea and progress the KNP Goongarrie-Hub's Definitive Feasibility Study towards a final investment decision on unlocking the full potential of the Kalgoorlie Nickel Project. I will always be grateful to Ian for his willingness to share his years of technical and commercial experience with me and the broader Ardea team and wish him the very best for his transition to retirement.'
Ian Buchhorn noted: 'In Mat Longworth, Andrew Penkethman and the full Ardea Team our Company is in great hands. Add to this the new contributions of Sumitomo Metal Mining and Mitsubishi Corporation and the platform is in place to commission a significant multi-decade producer of nickel-cobalt with potential over time for additional Critical Minerals. I have worked with exceptional people over the years to bring the KNP to its current position and to everyone I express my sincere appreciation. In particular, the people of the Goldfields and all Shareholders have been terrific supporters. I now look forward to getting more involved in the geological optimisation of the KNP
Contact:
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About Ardea Resources
Ardea Resources (ASX:ARL) is an ASX-listed nickel development company in joint venture with Sumitomo Metal Mining and Mitsubishi Corporation to build, commission and operate a plus 30,000tpa multi-decade nickel operation1 : Development of the Kalgoorlie Nickel Project (KNP) and its sub-set the Goongarrie Hub, a globally significant nickel-cobalt and Critical Mineral deposits which host the largest nickel-cobalt resource in Australia and one of the largest in the developed World at 854Mt at 0.71% nickel and 0.045% cobalt for 6.1Mt of contained nickel and 386kt of contained cobalt. The Goongarrie Hub has 584Mt for 4.0Mt of contained nickel (Consortium right to earn 50%) and Kalpini Hub has 270Mt for 2.1Mt of contained nickel (Ardea 100% unencumbered interest) (Ardea ASX release 30 June 2023), located in a jurisdiction with exemplary Environmental Social and Governance (ESG) credentials. Scoping Study initial programs being planned for the Kalpini Hub nickel-cobalt resources. Advanced-stage exploration at compelling nickel sulphide targets, such as Kalpini, and Critical Minerals targets including scandium and Rare Earth Elements throughout the KNP Eastern Goldfields world-class nickel-gold province, with all exploration targets complementing the KNP nickel development strategy.
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