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Ardea Resources owns one of the world’s largest cobalt deposits; granted trading halt

Published: 14:04 11 Sep 2017 AEST

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Ardea is leveraged to the cobalt price

Ardea Resources Ltd's (ASX:ARL) shares are in pre-open following the ASX granting the company a trading halt, pending details of a capital raising.

The company only listed in February this year with the IPO entry price at $0.20, and last traded at $0.81.

Driving the valuation has been a rebound in the cobalt price.

Ardea wholly-owns one of the world’s largest cobalt deposits, which is located in Western Australia.

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