Ardea fine-tunes WA nickel giant ahead of DFS delivery

In what Ardea Resources insists is a shrewd value-improving move, the company has pushed back the completion timeline for its definitive feasibility study (DFS) at the globally significant Goongarrie Hub nickel-cobalt project near Kalgoorlie.

The comprehensive final report will now extend beyond the previously targeted 30 June milestone to incorporate a suite of key value-engineering opportunities, designed to enhance the project’s economics and long-term value.

Management says the strategic breather will give the joint venture partners time to squeeze more value from the project through a series of optimisation initiatives, while the asset’s world-class scale, strategic importance and underlying fundamentals remain firmly intact.

Funding for the mammoth DFS, up to $98.5 million, has been bankrolled by Japanese industrial heavyweights Sumitomo Metal Mining and Mitsubishi Corporation, underscoring the strategic importance of Ardea’s giant Goongarrie Hub nickel-cobalt project.

The study is being managed through Kalgoorlie Nickel Pty Ltd, an incorporated joint venture in which Ardea currently holds a 65 per cent interest, with the Japanese consortium holding the remaining 35 per cent and retaining the right to increase its stake over time.

So far, a hefty $84.5 million has already been spent on advancing the study. However, with a sizeable funding balance still available, the JV appears well placed to push through the final stages of optimisation work and deliver what many expect will be a pivotal blueprint for one of the world’s largest undeveloped nickel-cobalt projects.

The flagship Goongarrie Hub stands tall as the centrepiece of Ardea’s broader Kalgoorlie Nickel project, commanding an eye-watering regional mineral resource estimate of 854 million tonnes grading 0.71 per cent nickel and 0.045 per cent cobalt.

Within that, the core footprint hosts 584 million tonnes of resources, of which 18 million tonnes are classified as measured, 277 million tonnes are in the indicated category, and 289 million tonnes are in the inferred class.

The total global inventory locks in 6.1 million tonnes of contained nickel and 386,000 tonnes of contained cobalt, securing its status as one of the largest developed nickel deposits on the planet.

Ardea Resources managing director Andrew Penkethman said: “The decision to revise the timeline reflects our shared commitment with the consortium to deliver a quality study. The Goongarrie Hub is a long-life, strategically significant asset, and we are committed to working with our consortium partners to ensure the DFS prov