Ardea raises A$7m to advance Kalgoorlie Nickel Project DFS

Ardea Resources ( (AU:ARL) ) has provided an update.

Ardea Resources has secured binding commitments for a A$5 million share placement to professional and sophisticated investors at A$0.60 per share and is launching a A$2 million share purchase plan for eligible shareholders on the same terms. The funds will bolster working capital as the company finalises the fully funded Definitive Feasibility Study for the KNP Goongarrie Hub, advances approvals and pre-commitment activities, and assesses the Kalpini Hub, strengthening its position as nickel sentiment and demand improve.

The placement will issue 8,333,334 new shares under Ardea’s ASX Listing Rule 7.1A capacity at an 11.8% discount to the last closing price, with settlement expected on 9 March 2026 and trading to commence the following day. The SPP, targeting A$2 million with flexibility for oversubscriptions and scale-backs, will run from 11 to 30 March 2026, providing existing investors the opportunity to participate in funding that underpins Ardea’s progress with consortium partners on the KNP Goongarrie Hub and related development milestones.

The most recent analyst rating on (AU:ARL) stock is a Sell with a A$0.64 price target. To see the full list of analyst forecasts on Ardea Resources stock, see the AU:ARL Stock Forecast page.

More about Ardea Resources

Ardea Resources Limited is an Australian resources company focused on the development of the Kalgoorlie Nickel Project (KNP) in Western Australia, particularly the Goongarrie and Kalpini hubs. The company targets the growing nickel market, aiming to supply nickel for battery and electric vehicle demand through large-scale project development supported by institutional and strategic investors.

YTD Price Performance: 13.33%

Average Trading Volume: 222,662

Technical Sentiment Signal: Buy

Current Market Cap: A$143.4M

Learn more about ARL stock on TipRanks’ Stock Analysis page.