Ann: Corporate Presentation - May 2024, page-2

Hi Everyone
This is a very good presentation put forward by management.
To me this is the eminent slide that says it all, people should take note of this, Forgive me for scribbling on it with RED marker.
For all the naysayers, the numbers tell the ultimate story, they also provide justification for the reasons, the incentive and most of all the action taken by the Japanese Consortium.
When you combine this slide below with the Goongarrie ore reserve and Life Of Mine of + 40 years (LOM,) we have the answer.





These financial metrics below are estimates of what the nickel and cobalt markets will be in 2027 when the mine will hopefully be in production, the current price of nickel is irrelevant to this project at this time.
Furthermore with the disruptions taking place in the Australian and Canadian nickel miners closing and going into Care & Maintenance, this is because their OPERATIONAL C1 COSTS are uneconomical at the moment, Their CI OPEX Costs are around $20 000 per ton.

Ardea on the other hand even at current nickel pricing is approximately 1/3 of the stressed miners CI OPEX costs presenting an entirely different proposition.
Ardea is cost comparative with the lowest cost Indonesian Miners and that is a very good position to be in.
Compelling.
RED