Medallion Metals Accelerates Gold-Copper Strategy with $27.5M Placement Backed by Institutions

Key Highlights:

• Secures $27.5M via institutional placement to fast-track production
• Cash position to strengthen to ~$31M post-raise
• Strategic move to acquire Forrestania Nickel Operation boosts low-capex gold-copper pathway
• Stock jumps 8.33% to $0.26 amid strong investor confidence
   

Medallion Metals Ltd (ASX: MM8) surged 8.33% to $0.26 today after announcing a well-supported $27.5 million capital raising to accelerate its sulphide gold and copper development strategy. The placement, anchored by high-calibre institutional investors, marks a pivotal milestone in Medallion’s efforts to transition from explorer to near-term producer at its flagship Ravensthorpe Gold Project (RGP) in Western Australia.

The two-tranche placement—priced at $0.21 per share—will boost Medallion’s cash reserves to approximately $31 million post-costs, enabling the company to advance permitting, complete its Bankable Feasibility Study (BFS), and fund strategic initiatives including the proposed acquisition of IGO’s Forrestania Nickel Operation (FNO).

According to Managing Director Paul Bennett, the funds position the company to “unlock tremendous value” by leveraging synergies between RGP’s sulphide mineralisation and the existing infrastructure at FNO, including the Cosmic Boy Flotation Plant. “Shareholders can look forward to a strong pipeline of positive news and de-risking milestones throughout the remainder of 2025 and into 2026,” he said.

The December 2024 scoping study underpins the strategy, highlighting a 5.5-year mine life producing 336,000 oz gold and 13,000 tonnes copper, with pre-tax free cash flows of $498M and a payback period of just 12 months under base case assumptions. At current gold prices, the NPV jumps to $429M with a 169% IRR.

The strategic placement drew significant interest from Australian, European, and U.S. resource-focused investors—a vote of confidence in Medallion’s assets, management team, and vision to establish a rapid, capital-light pathway to production in a critical mineral and gold-rich jurisdiction.

With drilling results pending, permitting advancing, and a BFS underway, Medallion looks primed to convert investor enthusiasm into operational momentum—just as global interest in critical metals and gold hits fever pitch.