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The latest update is out from Medallion Metals Ltd ( (AU:MM8) ).
Medallion Metals Limited has announced a successful $60 million capital raising initiative to support its Ravensthorpe-Forrestania gold-copper production strategy. This includes a $55 million placement to institutional investors and a $5 million share purchase plan for eligible shareholders. The funds will be used to advance the company’s development strategy, including engineering and infrastructure works, as well as potential mine life extensions. The strong investor support reflects confidence in Medallion’s growth strategy and positions the company well for future production milestones.
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 Limited operates in the mining industry, focusing on the development of gold and copper resources. The company is advancing its integrated gold-copper development strategy in Western Australia, leveraging the Forrestania processing infrastructure to enhance its market position.
Average Trading Volume: 1,268,279
Technical Sentiment Signal: Buy
Current Market Cap: A$245.4M
See more insights into MM8 stock on TipRanks’ Stock Analysis page.