Ardea to accelerate KNP feasibility work streams

Ardea Resources Limited (Ardea) announced that it has received binding commitments for a share placement to the sophisticated investor and professional clients of Petra Capital Pty Limited (Petra Capital) to raise AUD 5.7M before costs. The placement was very well supported and placed at a premium to the last closing price of USD 0.535 per share.

The Placement raising puts Ardea in a strong position to further accelerate Kalgoorlie Nickel Project (KNP) feasibility study work streams. Petra Capital Limited acted as Sole Lead Manager and Sole Bookrunner to the placement.