Ardea Resources Receives $1.8 Million R&D Tax Incentive Rebate for Kalgoorlie Nickel Project Breakthrough

Ardea Resources has achieved a technological breakthrough at its Kalgoorlie nickel project that will result in lower costs, lower carbon dioxide emissions, and more production. This discovery, which relates to its mineralized neutralizer process breakthrough at the Goongarrie Hub, has led to a provisional patent application being lodged. The breakthrough centers on the separation of magnesite-goethite-clay saprock into serpentine-goethite clay and magnesite neutralizer oversize. This concept was proven by metallurgical test work and will result in significant savings and reduced carbon dioxide emissions.

As a result of this breakthrough, the company has received a $1.8 million research and development tax rebate from the Australian Tax Office for the 2022 financial year. The company declared that it remains debt-free with over $15 million in the bank, and that the additional funds will be used to continue advancing the Goongarrie Hub.

Why it matters:

This development is important for several reasons. Firstly, it recognizes the quality of Ardea's research at the Kalgoorlie nickel project and its importance to the Australian economy and the Eastern Goldfields. Secondly, the breakthrough will result in significant savings and reduced carbon dioxide emissions, making it a more environmentally friendly project. Finally, the funds from the tax rebate will be used to advance the project, which is targeted towards the battery market and is considered to be the leading nickel project in Western Australia according to the Geological Survey of WA.