Medallion Metals Ltd (AU:MM8) has released an update.
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Medallion Metals Ltd has announced a successful $5 million funding round, strongly supported by key investors including Alkane Resources, to advance near-term production opportunities and exploration activities. The new capital will fund the Ravensthorpe Gold Project and due diligence on Forrestania Nickel Operation’s assets, aiming to lower production costs and risks while leveraging current high gold prices. The investment bolsters Medallion’s balance sheet, enabling them to commence drilling in early September with a strong news flow anticipated into the next year.
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