PERTH (miningweekly.com) – Junior Ardea Resources will raise A$5.7-million from a share placement to sophisticated investors to fund feasibility work at its Kalgoorlie nickel project.
The company will issue more than 10.3-million shares, at a price of 55c each under its existing placement capacity, with the share placement to settle on July 5.
“We are delighted with the support for the placement. Ardea welcomes our new sophisticated and professional investors to the company,” said MD Andrew Penkethman.
“The proceeds of the placement ensure Ardea is well funded to maintain momentum on the accelerated Kalgoorlie nickel project feasibility study work stream.
“With the continued expansion of the lithium-ion battery sector and original equipment manufacturers needing to secure sustainable and ethical mineral supply, Ardea’s Kalgoorlie nickel project is perfectly positioned to play a leading role with its globally significant nickel/cobalt and scandium resource at Goongarrie, with direct transport infrastructure links to the emerging Kwinana battery hub.”