Ardea Resources Secures $1.2 Million R&D Tax Rebate for Innovative Nickel Project

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

Ardea Resources Limited has received a $1.2 million R&D Tax Incentive Rebate from the Australian Tax Office for its innovative processing research at the Kalgoorlie Nickel Project. This rebate, alongside a recent strategic placement, strengthens Ardea’s financial position, supporting its ongoing research and development efforts. The company’s focus on maximizing the value of the Goongarrie deposits is highlighted by its Mineralised Neutraliser process, which has led to an international patent application. This development underscores Ardea’s commitment to advancing its globally significant Critical Minerals project and enhancing its industry positioning.

The most recent analyst rating on (AU:ARL) stock is a Buy with a A$1.12 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 (ASX:ARL) is an ASX-listed nickel development company engaged in a joint venture with Sumitomo Metal Mining and Mitsubishi Corporation to establish a large-scale nickel operation. The company is focused on the Kalgoorlie Nickel Project (KNP) and its Goongarrie Hub, which are significant nickel-cobalt and Critical Mineral deposits, hosting the largest nickel-cobalt resource in Australia. Ardea is also involved in advanced-stage exploration for nickel sulphide and Critical Minerals targets within the KNP Eastern Goldfields province.

Average Trading Volume: 67,478

Technical Sentiment Signal: Buy

Current Market Cap: A$88.37M

See more data about ARL stock on TipRanks’ Stock Analysis page.