Ardea close to appointing advisor

NICKEL-cobalt player Ardea Resources is gearing up its hunt for a strategic partner for the Goongarrie project outside Kalgoorlie.

Ardea close to appointing advisor Ardea close to appointing advisor Ardea close to appointing advisor Ardea close to appointing advisor Ardea close to appointing advisor

Ardea managing director Brett Clark at ResourceStocks Sydney

Speaking at ResourceStocks Sydney, recently appointed managing director Brett Clark said the company would be appointing a strategic advisor soon.

"We'll run a competitive process," he said.

Clark said Goongarrie was attractive to potential partners due to its scandium optionality and also its location.

"We're safe and secure - we're not in the DRC," he said.

The company recently released the prefeasibility study for Goongarrie, outlining capital costs of US$472 million for a base case 1 million tonne per annum operation.

The development would produce 1180 tonnes of contained cobalt and 9300t of contained nickel per annum within separate sulphate products.

Cash costs are put at 42c per pound of nickel metal after cobalt credits.