Sign up Australia
Proactive Investors - Run By Investors For Investors

Ardea Resources prepares to list with Australia’s largest cobalt resource

The Kalgoorlie Nickel Project is 3 times the size of the next largest ASX cobalt resource.
Ardea Resources prepares to list with Australia’s largest cobalt resource
Ardea will be funded to begin exploration drilling at the ASX’s largest cobalt resource

Ardea Resources (ASX:ARL), a spin-off from Heron Resources (ASX:HRR), is preparing to list on the ASX in February 2017 by raising up to $6 million from an initial public offer priced at $0.20 per share.

The company is focused on the cobalt potential within its Kalgoorlie Nickel Project in Western Australia and the open-pit mining potential of its Lewis Ponds zinc-gold deposit in New South Wales.

The Kalgoorlie Nickel Project is the largest cobalt resource documented for an ASX-listed
Australian mineral explorer.

Ardea plans to drive shareholder value through drilling programs at both projects scheduled in March 2017.

Kalgoorlie Nickel Project

The 100% owned Kalgoorlie Nickel Project is located 65 kilometres north of Kalgoorlie in Western Australia.

The project has one of the world’ largest cobalt resources of 805 million tonnes at 0.05% cobalt and 0.7% nickel, containing 380,000 tonnes cobalt and 5.6 million tonnes nickel.

This includes a high-grade cobalt zone of 49.7 million tonnes at 0.12% cobalt and 0.86% nickel containing 59,640 tonnes of cobalt.

Lewis Ponds zinc-gold deposit

The 100% owned Lewis Ponds zinc-gold deposit is located 15 kilometres east of Orange in central New South Wales.

The deposit contains 6.6 million tonnes at 1.5 g/t gold, 69 g/t silver, 2.4% zinc and is focused on a high-grade underground operation.


By raising $6 million, Ardea will be funded to begin exploration drilling at the ASX’s largest cobalt resource.

Cobalt is a necessary metal for the production of the latest generation of high density lithium-ion batteries.

Due to its high run-time properties, the use of cobalt in portable lithium-ion batteries for electric vehicles is rising.

Through the immediate drilling of key targets, significant near-term news flow is expected post-listing.

View full ARL profile View Profile

Ardea Resources Ltd Timeline

Related Articles

farming tractor at work in a crop
April 11 2018
The front end engineering design (FEED) confirmed a post-tax NPV of US$902 million.
Photo of blue mineralisation at Thackaringa
April 09 2018
The market hasn’t fully appreciated the company’s strong market connection with JV partner Cobalt Blue Holdings Ltd.
June 02 2017
We are joined by Matthew Gill, CEO and managing director, in Proactive Q&A Sessions™.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use