Ardea Resources Ltd. ( (AU:ARL) ) has provided an update.
Ardea Resources Limited has secured a strategic investment of A$4.6 million from Sumitomo Metal Mining Co., Ltd, which will enhance their partnership and support the development of the Kalgoorlie Nickel Project – Goongarrrie Hub. This investment, made at a premium to Ardea’s recent share prices, underscores the strength of their collaboration and the strategic importance of the Goongarrrie Hub as a major nickel-cobalt source in a prime jurisdiction. The funds will be used primarily for working capital to advance the ongoing Definitive Feasibility Study.
More about Ardea Resources Ltd.
Ardea Resources Limited operates in the mining industry, focusing on the development of nickel and cobalt projects. The company is primarily engaged in advancing the Kalgoorlie Nickel Project – Goongarrrie Hub in Western Australia, a significant source of nickel-cobalt.
YTD Price Performance: 16.36%
Average Trading Volume: 14,733
Technical Sentiment Signal: Hold
Current Market Cap: $50.58M
For detailed information about ARL stock, go to TipRanks’ Stock Analysis page.