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An update from Medallion Metals Ltd ( (AU:MM8) ) is now available.
Medallion Metals has completed its Share Purchase Plan, which was heavily oversubscribed relative to the A$5 million target, signalling strong backing from existing shareholders for the company’s strategy and asset base. After a pro-rata scale-back, the company will issue 15,151,515 new shares at the same price as its recent placement, with quotation expected on 23 January 2026, and the combined capital raising to be used for Front End Engineering and Design of the Cosmic Boy processing infrastructure, early and site works at Kundip Mining Centre, and, subject to the Forrestania acquisition closing, construction and development of that project plus associated drilling, transaction costs and working capital, leaving Medallion well funded as it transitions towards producer status.
The most recent analyst rating on (AU:MM8) stock is a Buy with a A$1.05 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 an ASX-listed resources company focused on developing its portfolio of mining assets in Western Australia, including the Kundip Mining Centre and the proposed Forrestania project. The company is progressing towards production, with investment directed into processing infrastructure, site preparation and drilling to advance its projects and underpin future operational growth.
Average Trading Volume: 1,239,207
Technical Sentiment Signal: Buy
Current Market Cap: A$336.6M
See more insights into MM8 stock on TipRanks’ Stock Analysis page.