Ardea sets A$21.5m raising target
PERTH (miningweekly.com) – Battery metals developer Ardea Resources will raise A$21.5-million through a share placement to fund exploration and feasibility work in Western Australia.
The company on Tuesday announced that it had received firm commitments from professional and sophisticated investors for the placement of more than 30.7-million shares under its existing placement capacity, priced at 70c a share.
The placement price represented an 11.9% discount to Ardea’s last trading price, and a 6.5% discount to the company’s ten day volume weighted average share price.
“We are delighted with the support that the placement received from both new and existing institutional and sophisticated investors,” said Ardea MD Andrew Penketham.
“The Ardea team have been working tirelessly to position the company so that the sole focus is nickel/cobalt. With the world transitioning to a low-carbon future and lithium-ion battery manufacturers needing to secure sustainable and ethical mineral supply, Ardea’s Kalgoorlie nickel project (KNP) is perfectly positioned to play a key role.
“The proceeds from the placement will enable Ardea to rapidly advance its nickel sulphide assets through an extensive diamond drilling campaign, whilst existing funds will continue to be deployed to advance our KNP Goongarrie hub definitive feasibility study. With a strong treasury, we look forward to putting shareholder funds to work building up the KNP asset base towards production,” said Penketham.
Meanwhile, Ardea said on Tuesday that discussions with potential strategic partners to develop the KNP were still ongoing.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
