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Ardea Resources (ASX:ARL) - MD and CEO, Andrew Penkethman
MD and CEO, Andrew Penkethman
Source: Ardea Resources
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  • Emerging battery metals company Ardea Resources (ARL) has been awarded a $2 million research and development (R&D) tax offset
  • The offset was awarded for state-of-the-art work on nickel-cobalt metallurgical programs at the company’s Goongarrie project in Western Australia
  • Ardea’s work is aimed at the extraction and processing of a wide range of minerals into battery-grade products
  • While there’s still a long road ahead to first production, the extra $2 million provides a handy bonus to Ardea’s cash reserves, and a funding runway for further R&D work
  • Ardea Resources is trading 3.2 per cent higher today at 32 cents per share

Emerging battery metals company Ardea Resources (ARL) has been awarded a $2 million research and development (R&D) tax offset from the Australian government.

The offset was awarded for state-of-the-art work on nickel-cobalt metallurgical programs at the company’s Goongarrie project in Western Australia.

Aiming high

The advanced research work Ardea is undertaking is aimed at becoming a key cathode metal supply source for new battery technologies.

The company’s 2019 research programs (for which the offset was awarded) incorporated a wide range of activities focused on developing key processes relevant to battery metal mining and production.

Ardea’s pilot plant processed 15 tonnes of material from Goongarrie in a pilot-scale high-pressure acid leach (HPAL) circuit, with the resulting product undergoing various bench-scale experiments to produce battery-grade nickel and cobalt sulphates.

The final products were shipped to potential offtakers and found to meet quality requirements for use in battery manufacture.

Ardea also completed advanced geo-metallurgical work to generate a predictive tool to hypothesise future HPAL plant performance across a wide range of minerals.

This predictive process may help in the potential to value-add to the production of nickel and cobalt sulphates, via the co-production of other by-products including manganese sulphate, scandium trioxide, vanadium pentoxide, high purity alumina and rare earth elements.

One key part of the process was in identifying waste by-products that could be used as a neutraliser in the HPAL process, with the potential to significantly reduce chemical costs.

Powering the future

Ardea will continue its R&D work to refine its processes ahead of commercialisation.

While there’s still a long road ahead to first production, the extra $2 million provides a handy bonus to Ardea’s cash reserves, which now stand at around $10.4 million.

This cash provides a funding runway for continued R&D and other work required to advance the company’s greater Kalgoorlie nickel project to becoming a key cathode metal supplier for the battery industry.

Ardea Resources is trading 3.2 per cent higher today at 32 cents per share as at 3:40 pm AEST.

ARL by the numbers
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