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Medallion Metals Ltd ( (AU:MM8) ) has shared an update.
Medallion Metals Limited has announced an amended agreement with IGO Limited to acquire the Forrestania Nickel Operation, which includes infrastructure and mineral rights, except for nickel and lithium. This acquisition is expected to enhance Medallion’s operations by integrating the infrastructure with its Ravensthorpe Gold Project, potentially reducing development time and costs. Additionally, Medallion reported positive drilling results at the Ravensthorpe site, indicating promising gold and copper grades, and advanced its financing discussions with offers up to A$50 million. The company is well-funded, with a cash reserve of $9.5 million and additional funds from a recent placement, positioning it to make a final investment decision by late 2025.
The most recent analyst rating on (AU:MM8) stock is a Buy with a A$0.41 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 Limited is a company operating in the mining industry, focusing on gold and copper exploration and development. The company is primarily engaged in projects such as the Ravensthorpe Gold Project in Western Australia, and it aims to expand its operations through strategic acquisitions and partnerships.
Average Trading Volume: 803,851
Technical Sentiment Signal: Buy
Current Market Cap: A$152.9M
For a thorough assessment of MM8 stock, go to TipRanks’ Stock Analysis page.