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Medallion Metals Ltd ( (AU:MM8) ) has shared an update.
Medallion Metals is advancing plans to refurbish and repurpose the Cosmic Boy Concentrator at its recently acquired Forrestania Gold Project to establish short-term gold processing capacity. By using existing plant, stockpiled ore and conventional carbon-based recovery, the company aims to create an interim processing pathway that can generate early cashflow while minimising capital intensity.
The proposed program is designed to run in parallel with planned modifications to process Ravensthorpe ore, potentially allowing processing to commence as early as the fourth quarter of 2026. Management says this approach would bring forward revenue, de-risk plant performance ahead of full-scale operations and support shareholder value, as the company also pursues third-party toll treatment deals and advances drilling and resource work at Lounge Lizard.
All key approvals for development at Ravensthorpe and licensing changes at Forrestania have been lodged, with the company expecting them in time to start major works in early third quarter 2026. A decision on whether to proceed with the initial processing opportunity is targeted for May 2026, with implementation expected to take about three months if endorsed, marking a rapid pathway back to production for the Cosmic Boy operation.
The most recent analyst rating on (AU:MM8) stock is a Buy with a A$0.95 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 Australian gold-focused mining company listed on the ASX that is developing the Forrestania Gold Project and the Ravensthorpe Gold Project in Western Australia. The company aims to leverage existing processing infrastructure, including the Cosmic Boy Concentrator, to fast-track production and optimise returns from its gold deposits and potential third-party ore sources.
Average Trading Volume: 1,658,398
Technical Sentiment Signal: Buy
Current Market Cap: A$330.3M
See more insights into MM8 stock on TipRanks’ Stock Analysis page.