https://www.miningweekly.com
Exploration|PROJECT|Resources
Exploration|PROJECT|Resources
exploration|project|resources

Ardea raises A$16m for nickel aspirations

30th August 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Nickel developer Ardea Resources has received firm commitments to raise A$16-million in a share placement to professional and sophisticated investors.

Ardea on Wednesday said it would place 22.7-million shares at a price of 70c each under the company’s existing placement capacity, with the offer price representing a 2.2% discount to its 15-day volume weighted average price.

Additionally, 90 000 shares will be placed to board members, subject to shareholder approval.

Funds raised from the placement will be used for definitive feasibility study (DFS) work at the Kalgoorlie nickel project, for critical mineral exploration, and finalising strategic partner agreements, as well as for working capital.

“We are delighted with the support for the placement, that received strong support from new and existing institutional and sophisticated investors,” said Ardea MD Andrew Penkethman.

“The company is excited to advance the scope of its DFS with the Japanese Consortium under memorandum of understanding and reach binding terms for full funding of the DFS by the end of calendar year 2023.”

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.171 0.207s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: