Ardea Resources (ARL) Q4 2026 TU earnings summary

Executive summary

• The June 2026 quarter focused on advancing the DFS for the Kalgoorlie Nickel Project (KNP) – Goongarrie Hub, with significant government recognition and strategic positioning as a critical minerals project.

• KNP was selected for the Australian Government Investor Front Door pilot, included in the Australia-Japan critical minerals collaboration, and awarded Lead Agency Status by the WA Government.

• Completion of the DFS Final Report was extended beyond June 2026 to pursue optimisation and value enhancement opportunities.

• A scoping study commenced to assess scandium and other critical minerals recovery from waste streams.

Financial highlights

• Cash position at 30 June 2026 was A$18.3M with no debt.

• Share Purchase Plan raised A$340k at A$0.60 per share, matching the A$5M placement price.

• Net expenditure from operating activities was A$7.47M for the quarter, with A$6.19M on exploration and evaluation, including A$5.8M for feasibility studies.

• DFS program remains fully funded by the Consortium under a budget of A$98.5M, with A$84.5M expended as of 31 May 2026.

Outlook and guidance

• DFS completion and project development funding strategy remain priorities, with a detailed update expected before the end of October 2026.

• Ongoing evaluation of additional targets, including gold, nickel sulphide, and REEs, alongside continued stakeholder engagement.

• The project is well positioned to benefit from forecasted nickel demand growth and global supply chain initiatives.