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Medallion Metals Ltd ( (AU:MM8) ) just unveiled an announcement.
Lion Selection Group Limited has committed to a $5.0 million investment in Medallion Metals as part of a $60.0 million fundraising effort. This funding will support the development of the Ravensthorpe Gold Project, enabling Medallion to become a gold producer amid high gold prices. The acquisition of the Forrestania processing facility will facilitate a quicker transition to production, while exploration and drilling activities are planned to enhance resource confidence and assess gold potential in the area.
The most recent analyst rating on (AU:MM8) stock is a Hold with a A$0.42 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
Medallion Metals Ltd is a company operating in the mining industry, focusing on gold and copper production. It is working on developing the Ravensthorpe Gold Project and plans to utilize an existing processing facility at Forrestania, which it is acquiring from IGO, to streamline its path to becoming a gold producer.
Average Trading Volume: 1,268,279
Technical Sentiment Signal: Buy
Current Market Cap: A$245.4M
See more data about MM8 stock on TipRanks’ Stock Analysis page.