ARL.ASX: KNP Goongarrie Hub DFS Update

KNP Goongarrie Hub DFS Update

Stock	Ardea Resources Ltd (ARL.ASX)
Release Time	3 Jun 2026, 8:18 a.m.
Price Sensitive	Yes

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Ardea Resources DFS Update for Kalgoorlie Nickel Project

Key Points

DFS completion extended beyond June 30, 2026
Ardea and Consortium discuss path forward
Scoping study initiated for scandium and other critical minerals

Full Summary

Ardea Resources Limited has announced an update on the Definitive Feasibility Study (DFS) for its Kalgoorlie Nickel Project (KNP) - Goongarrie Hub. The DFS, which is being managed by Kalgoorrie Nickel Pty Ltd, a joint venture between Ardea and the Consortium, is now expected to complete beyond the previously advised timeline of June 30, 2026. The DFS program is fully funded by the Consortium under an agreed budget of A$98.5 million, with approximately A$84.5 million expended to date. Ardea and the Consortium are discussing the path forward, including opportunities for DFS optimization and value enhancement. Additionally, Ardea has commenced a scoping study to assess the potential recovery of scandium and other critical minerals from the waste stream, which is expected to be completed in September 2026.

Outlook

Ardea expects to provide an update to the market on the path forward before the end of October 2026.