Media Release: Clayton Utz advises ASX-listed Ardea Resources on Shareholders’ Agreement with Japanese Consortium for the Kalgoorlie Nickel Project – Goongarrie Hub

Ardea is an ASX-listed Australian company involved in the exploration and development of mineral resources. Ardea's major project is the Kalgoorlie Nickel Project – Goongarrie Hub, located 70km northwest of the City of Kalgoorlie-Boulder, which hosts one of the largest undeveloped nickel-cobalt resources in the world.

Corporate Partner Mark Paganin and Special Counsel Scott Girdler led the firm's team, with key support from Senior Associate Georgia Mazzega and Lawyers Daniel Martinez and Ally Clark.

The entry into a Shareholders’ Agreement is a significant milestone as it represents the satisfaction of the last of the conditions precedent and therefore completion under the Cooperation Agreement, which enables the Japanese Consortium to commence fully funding the Definitive Feasibility Study (DFS) for the Kalgoorlie Nickel Project – Goongarrie Hub. The DFS is expected to be completed by the second half of 2025. The condition precedent of Foreign Investment Review Board approval was announced by Ardea on 14 August 2024.

Clayton Utz’s role in advising Ardea follows the firm acting for Ardea on its entry into a Cooperation Agreement with the Japanese Consortium on 26 April 2024, to form a joint venture and develop the Kalgoorlie Nickel Project – Goongarrie Hub.