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Medallion Metals Ltd ( (AU:MM8) ) has shared an announcement.
IGO Limited has completed the sale of the Forrestania Nickel Operations assets, including the Cosmic Boy processing plant, infrastructure and inventories, to Medallion Metals for no cash consideration, while retaining certain mineral rights. Under the deal, IGO keeps the right to explore, develop and mine nickel and lithium with site access and support from Medallion, and is entitled to receive up to a 1.5% net smelter return royalty on any future gold production from the Forrestania tenements.
The transaction forms part of IGO’s strategy to cut ongoing costs and unlock value from its portfolio, while maintaining exposure to key battery minerals. The company is also reviewing options for other assets, including the Cosmos site and infrastructure, which it highlights as highly prospective for gold and other minerals and already equipped with plant and equipment suited to mining and processing these commodities.
The most recent analyst rating on (AU:MM8) stock is a Buy with a A$0.87 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.
More about Medallion Metals Ltd
IGO Limited is an Australian listed resources company focused on mining and developing battery minerals, particularly nickel and lithium assets. The company operates and rationalises a portfolio of mining sites and processing infrastructure in Western Australia, positioning itself within the growing market for materials used in electric vehicles and energy storage.
Average Trading Volume: 1,889,886
Technical Sentiment Signal: Buy
Current Market Cap: A$377.7M
For a thorough assessment of MM8 stock, go to TipRanks’ Stock Analysis page.