Ardea Resources Limited (ASX:ARL) DFS Update on Kalgoorlie Nickel Project
Project Progress Overview
Ardea Resources Limited (ASX:ARL) announced significant advancements on the Definitive Feasibility Study (DFS) for its Kalgoorlie Nickel Project (KNP) – Goongarrie Hub. The DFS, managed by Ardea’s subsidiary Kalgoorlie Nickel Pty Ltd and funded by Sumitomo Metal Mining Co., Ltd. and Mitsubishi Corporation, has a budget of $98.5 million. Currently, four drill rigs are operational, focusing on resource definition, geotechnical assessments, and hydrogeology drilling.
Recruitment for the DFS team is nearly complete, with 40 personnel onboard and various contracts being awarded to accelerate the project. Contract approvals have included critical work packages, such as Metallurgical Testwork and water assessment projects.
Drilling and Resource Definition
Drilling is progressing as planned, with 622 resource definition drill holes completed, totaling 37,842 meters. The operation aligns with the expected DFS completion timeline set for late 2025. The company is also actively managing Quality Assurance and Quality Control assessments through dual-drilling processes.
Executive Comments
Andrew Penkethman, Managing Director and CEO, expressed satisfaction with the progress, stating, “Ardea are pleased to see the strong progress being made on the DFS to advance the KNP – Goongarrie Hub toward production.” He affirmed that the project aligns with high Environmental, Social, and Governance (ESG) standards, and looks forward to ongoing updates for stakeholders.
Future Outlook
The DFS remains on track for completion in late H2 2025, with forthcoming updates expected to address advancements in process plant capabilities and geological assessments. As the KNP positions to become a major low-cost nickel-cobalt producer, Ardea anticipates further milestones in the exploration and development phases of the project.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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