Ardea Resources (ARL) investor relations material

Executive summary

• Recorded an operating loss after income tax of $2.35 million for the half-year ended 31 December 2025, a significant improvement from the $3.88 million loss in the prior corresponding period.

• Maintained a strong cash position of $11.6 million and no debt as of 31 December 2025.

• Principal activities focused on mineral exploration and development in Western Australia, with no significant changes during the period.

Financial highlights

• Revenue from interest and other income totaled $472,545, up from $234,297 in the prior period.

• Net loss after income tax was $2,352,475, compared to $3,883,403 in the previous half-year.

• Cash and cash equivalents decreased to $11,637,038 from $14,683,538 at 30 June 2025.

• Capitalised mineral exploration expenditure increased to $127.1 million from $105.1 million at 30 June 2025.

• Net assets rose to $114.8 million from $67.6 million at 30 June 2025, reflecting new capital contributions and project equity changes.

Outlook and guidance

• DFS for the Kalgoorlie Nickel Project (KNP) Goongarrie Hub is forecast for completion in the first half of 2026, with capital cost estimates expected to increase due to engineering refinements and market-driven inputs.

• The DFS remains fully funded by the Japanese Consortium up to the approved A$98.5 million budget.

• Subsequent to period end, received conditional letters of support for up to AUD 1 billion in potential project financing.