World-significant Australian cobalt and nickel for the battery industry

Presentation at Sprott Conference Vancouver July 2018
Presentation at Sprott Conference Vancouver July 2018
Perth, July 12, 2018 AEST (ABN Newswire) - Ardea Resources Ltd (ASX:ARL) (OTCMKTS:ARRRF) provides the Company's latest presentation at Sprott Natural Resource Symposium, Vancouver, July 2018.

The Ardea Proposition

- The 100% owned Goongarrie Nickel-Cobalt Project is part of the largest Cobalt Resource in the Developed World - 773Mt at 0.7% Ni and 0.05% Co

- Robust Pre-Feasibility Study which included the following highlights:

o Pre-tax NPV US$1.4 billion

o Pre-tax IRR 29%

o Initial focus will be on 40Mt at 0.83% Ni and 0.09% Co reserves

o Significant expansion potential on 1.0 Mtpa base case

o Higher throughput options being investigated.

- Goongarrie is a low technical risk project

- Goongarrie offers an ethical, low environmental impact, multi-generation mine-life

- Significant economic advantages and cost benefits via on-site neutraliser, scandium and other by-product opportunities

- Continued discussions with a number of potential strategic and offtake partners

- Upside potential from WA and NSW gold and base metal projects

A High-Quality Cobalt and Nickel Sulphate Producer

Outstanding results delivered from recently completed Pre-Feasibility Study*

- 1.0 Mtpa base case over a 25-year mine life

- 95.5% cobalt and 94.5% nickel recovery - life of mine

- Pre-cobalt C1 costs in line with current worldwide operators

- PAL** 5th generation plant, proven design, successfully operated in other laterite projects globally

Expansion Upside Potential

- Scoping study on 2.25 Mtpa via single processing train is nearing completion

- > 8,000 tpa cobalt sulphate expected

- > 70,000 tpa nickel sulphate expected

- Goongarrie exhibits significant potential for expansion via multiple parallel modular trains

- Additional upside options are currently being assessed and include the following:

o Higher throughput / shorter autoclave residence time

o Mineralised neutraliser optimisation

o Scandium by-product optimisation

Scalability potential remains a major competitive advantage (only ~5% of current resources have been utilised)

* Goongarrie Nickel Cobalt Project, PFS study, 28 March 2018

** PAL = Pressure Acid Leach

To view the full presentation, please visit:

About Ardea Resources Ltd

Ardea Resources Ltd ASX:ARLArdea Resources Ltd (ASX:ARL) (OTCMKTS:ARRRF) (FRA:A91) is an Australian resources company which owns 100% of the Kalgoorlie Nickel Project (KNP), a globally significant series of nickel-cobalt laterite deposits which host the largest cobalt resource in the developed world. Ardea is focused on the development of the Goongarrie Nickel Cobalt Project (GNCP) within the KNP, 80km north of Kalgoorlie WA. Ardea has completed a Prefeasibility Study for a 1Mpta and 1.5Mtpa case on the GNCP and also a scoping study for a 2.25Mtpa case. Ardea is currently working with KPMG Australia Corporate Finance to secure a Strategic Partner to jointly develop the GNCP. Ardea also owns an extensive portfolio of projects in Western Australia and New South Wales which are highly prospective for gold, nickel sulphide and zinc.



Ardea Resources Ltd
Brett Clark, CEO / Managing Director
T: +61-8-6244-5136

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