Overview of ASX query response

Ardea Resources Limited (ASX: $ARL) has responded to ASX's price query, stating that it is not aware of any undisclosed information that could explain the recent trading in its securities. The company has referred to its previous announcements regarding the progress on the Kalgoorlie Nickel Project - Goongarrie Hub negotiations, particularly with a Japanese Consortium of Sumitomo Metal Mining and Mitsubishi Corporation. Ardea intends to request a voluntary suspension from Wednesday, 24 April until up to, or before, Wednesday, 1 May, when it expects to provide an update on the negotiations.

Executive commentary on ASX query response

The Company Secretary of Ardea Resources Limited has confirmed the company's response to ASX's price query. The response indicates that the company is in compliance with the Listing Rules and has authorized and approved the responses in accordance with its published continuous disclosure policy. The company aims to provide an update on the Kalgoorlie Nickel Project - Goongarrie Hub negotiations by the end of April, following the expiration of the trading halt period.

Summary of ASX query response and outlook

Ardea Resources Limited has addressed ASX's price query by stating its lack of awareness of any undisclosed information that could explain the recent trading in its securities. The company has emphasized its ongoing negotiations with a Japanese Consortium for the Kalgoorlie Nickel Project - Goongarrie Hub and its intention to request a voluntary suspension until it can provide an update on the negotiations. The outlook includes the company's commitment to fulfilling its disclosure obligations and providing the market with a comprehensive update on the Cooperation Agreement with the Japanese Consortium by the end of April, aligning with its corporate strategy of transparent and timely communication.