Ardea Resources (ARL) Noosa Mining Conference 2026 summary

Project overview and strategic significance

• Kalgoorlie Nickel Project is Australia's largest nickel-cobalt resource at 854Mt (0.71% Ni, 0.045% Co), ranking in the global top 10 with 6.1Mt contained nickel and 386kt cobalt.

• Structured as a joint venture with Sumitomo Metal Mining and Mitsubishi Corporation, covering 4.1Mt, while the Kalpini Hub (2Mt) is fully retained.

• Recognized as a critical minerals project by Australian, Japanese, and US governments, with Major Project Status, Lead Agency Status, and inclusion in international cooperation frameworks.

• Strong local, state, federal, and international support, including Investor Front Door access, enhances permitting and funding opportunities.

• Geopolitical factors and the need for secure supply chains drive unprecedented momentum and support, positioning the project as a strategic ex-Indonesia supply source.

Funding, partnerships, and government support

• Japanese partners have contributed AUD 98.5 million to the DFS and are moving toward a 50% interest upon final investment decision.

• 75% of offtake is secured by Japanese partners, with right of first refusal for the remainder, facilitating favorable financing terms.

• Conditional, non-binding funding support up to AUD 1 billion has been received from Export Finance Australia and the U.S. Export-Import Bank, even before DFS completion.

• Early funding support is considered an industry first, with additional interest from global export credit agencies.

• Board and management team have extensive experience in exploration, project development, and operations across the resources sector.

Project development, operations, and outlook

• Pre-Feasibility Study indicates a +40-year mine life, producing 30,000 tonnes of nickel and 2,000 tonnes of cobalt annually; DFS may extend mine life further.

• All mineral resources are on granted mining leases, with plans for a 3.5Mtpa operation producing Mixed Hydroxide Precipitate (MHP) for export to Japan.

• DFS is fully funded and advancing, with major workstreams in resource modeling, mine planning, process design, and permitting.

• Over AUD 80 million has been invested in advancing the DFS, with federal approvals targeted for later this year.

• Premium goethite geology underpins cost-competitive operations, with potential fiscal support from Australia's Critical Minerals Production Tax Incentive.