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Ardea Resources Acquires Tenements in Kalgoorlie Nickel Project Ardea Resources Limited

Ardea Resources Acquires Tenements in Kalgoorlie Nickel Project

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Ardea Resources Limited (ASX: ARL) has announced the acquisition of exploration tenure in the Kalgoorlie Nickel Project Goongarrie Hub through a tenement swap agreement with adjoining gold development company Brightstar Resources Limited (ASX: BTR). The acquisition allows Ardea Resources to divest non-core gold exploration tenements and acquire key tenements for strategic infrastructure that will potentially benefit the Goongarrie Hub for nickel-cobalt project development.

The company's managing director and CEO, Andrew Penkethman, stated, "Ardea and Brightstar have worked together to deliver a positive outcome for both companies. The key benefits of this transaction for Ardea are the extra land area around key Goongarrie and Highway production mining leases. This will enable the optimum detailed mine design for the upcoming Definitive Feasibility Study and will include increased direct access to the Goldfields Highway and rail line, and shorter haul road distances from satellite pits to the Goongarrie plant site. "

This acquisition marks a significant milestone for Ardea Resources in advancing the Goongarrie Hub toward development and production. Recent announcements about the successful Pre-Feasibility Study and MOU with the Japanese Consortium have contributed to the company's strategy.

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The consolidation of tenements follows the successful outcomes that Ardea Resources has achieved in recent months. This agreement was reached without any direct cash payment or equity issue, maintaining Ardea's tight capital structure, a debt-free status, and funds at hand.

Ardea Resources' acquisition of key tenements underscores the company's commitment to strategic infrastructure and potential resource growth for the Goongarrie Hub nickel-cobalt project's development.

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