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Medallion Metals Ltd
(Sydney:MM8)
Medallion Metals Ltd (MM8) vs. iShares MSCI Australia ETF (EWA)
Medallion Metals Ltd Business Overview & Revenue Model
Medallion Metals Ltd Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.11M | 1.11M | 1.86M | 3.03M | 2.14M | 503.47K |
| Gross Profit | 1.11M | 1.11M | 1.86M | 3.03M | 2.14M | 503.47K |
| EBITDA | -5.75M | -5.85M | -2.58M | -4.68M | -3.21M | -3.57M |
| Net Income | -6.13M | -6.13M | -2.94M | -5.09M | -3.60M | -3.77M |
Balance Sheet | ||||||
| Total Assets | 28.93M | 28.93M | 16.42M | 15.59M | 15.93M | 16.85M |
| Cash, Cash Equivalents and Short-Term Investments | 9.46M | 9.46M | 1.71M | 423.51K | 1.84M | 8.82M |
| Total Debt | 2.92M | 2.92M | 2.93M | 4.10M | 4.04M | 4.11M |
| Total Liabilities | 5.00M | 5.00M | 4.48M | 5.77M | 6.04M | 8.49M |
| Stockholders Equity | 23.93M | 23.93M | 11.94M | 9.82M | 9.89M | 8.36M |
Cash Flow | ||||||
| Free Cash Flow | -9.54M | -9.54M | -2.16M | -6.02M | -11.14M | -3.94M |
| Operating Cash Flow | -5.02M | -5.02M | -1.57M | -3.87M | -5.18M | -1.98M |
| Investing Cash Flow | -4.53M | -4.45M | -491.39K | -2.14M | -5.95M | -1.96M |
| Financing Cash Flow | 17.15M | 17.15M | 3.34M | 4.59M | 4.16M | 10.50M |
Medallion Metals Ltd Technical Analysis
Medallion Metals Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$413.44M | -33.90 | -34.16% | ― | -100.00% | -52.08% | |
50 Neutral | AU$146.34M | -15.77 | -23.45% | ― | ― | 54.41% | |
47 Neutral | AU$77.30M | -3.68 | -148.97% | ― | ― | -643.11% | |
46 Neutral | AU$111.22M | -49.09 | -16.47% | ― | ― | -19.57% | |
42 Neutral | AU$83.72M | ― | ― | ― | ― | ― | |
29 Underperform | AU$92.66M | -11.36 | -9377.41% | ― | ― | -214.29% |
Medallion Metals Ltd Corporate Events
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.
Medallion Metals has announced that 796,954 fully paid ordinary shares will be released from voluntary escrow on 22 January 2026, in line with ASX Listing Rule 3.10A. The release of these shares will modestly increase the volume of tradable stock on the market, potentially enhancing liquidity for existing and prospective shareholders without altering the company’s capital structure overall.
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.
Medallion Metals Ltd has updated its previously announced securities purchase plan and associated securities issue, advising the market that the closing date for the share purchase plan and the corresponding share issue date have been revised. The company has lodged an updated Appendix 3B with the ASX outlining the proposed issue of securities via a placement or other type of issue alongside the securities purchase plan, signalling a continued focus on raising equity capital and fine-tuning the timetable for investors participating in the offer.
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.
Medallion Metals has announced that its recently launched Share Purchase Plan has been oversubscribed, with applications exceeding the $5 million targeted, prompting the board to close the offer early at 5:00pm AWST on 16 January 2026, ahead of the original 28 January deadline. The company will scale back applications received before the revised closing date and refund excess application monies, with results of the plan to be announced on 21 January and new shares to be issued on 23 January, underscoring strong investor demand and providing Medallion with additional capital to support its ongoing activities.
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.
Medallion Metals has launched a 2025 share purchase plan (SPP) offering eligible shareholders in Australia and New Zealand the opportunity to acquire between A$2,000 and A$30,000 of new shares at A$0.33 each, a 20.8% discount to the five-day volume-weighted average price prior to 12 December 2025. The company aims to raise about A$5 million, with the ability to accept oversubscriptions for up to an additional A$5 million, to be used alongside recent placement proceeds to fund front-end engineering and early site works for the Cosmic Boy processing infrastructure at Kundip, potential construction and development of the Forrestania project, infill and extensional drilling to grow and de-risk its mineral resource, and general working capital, thereby strengthening its project pipeline and capital position ahead of key development 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.
Medallion Metals Limited has launched a 2025 Share Purchase Plan (SPP) offering eligible shareholders in Australia and New Zealand the opportunity to subscribe for between A$2,000 and A$30,000 of new shares at A$0.33 per share, a 20.8% discount to the five-day volume-weighted average price prior to 12 December 2025. The company aims to raise approximately A$5 million, with the capacity to accept oversubscriptions of up to an additional A$5 million, following a recent placement at the same issue price and supported by an ASX waiver that allows the SPP pricing below the usual 80% VWAP threshold. Proceeds from the placement and SPP are earmarked for front-end engineering and design of the Cosmic Boy processing infrastructure, early site works at the Kundip Mining Centre, potential construction and development of the Forrestania project (subject to transaction completion), further drilling to expand and de-risk the existing mineral resource at RGP, as well as transaction costs and general working capital, underscoring Medallion’s drive to advance its project pipeline and strengthen its operational and development capacity.
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.
Medallion Metals Limited has announced it will conduct a share purchase plan, offering fully paid ordinary shares to existing investors under an offer document released to the ASX, without the need for a full prospectus under Part 6D.2 of the Corporations Act. The company confirmed it is compliant with its financial reporting and continuous disclosure obligations and stated there is no excluded information requiring disclosure, signalling that the capital-raising initiative is being undertaken within the standard regulatory framework and may provide additional funding while minimising disclosure and documentation costs for both the company and shareholders.
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.
Medallion Metals has secured a waiver from the ASX to proceed with its Share Purchase Plan (SPP) at an offer price of A$0.33 per share, a 20.8% discount to the five-day VWAP, without drawing on its placement capacity or seeking shareholder approval. The waiver allows the SPP to be conducted on the same pricing terms as the recent institutional placement, including participation by related parties, while capping issuance at 30% of existing share capital and keeping expected dilution at about 1.94%, thereby enabling a timely, cost-efficient capital raise that offers retail shareholders equal access to the discounted pricing enjoyed by institutional investors.
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.
Medallion Metals Limited has called a general meeting of shareholders to be held in West Perth on 27 January 2026 at 10:00am AWST, with proxy votes due by 10:00am AWST on 25 January 2026. In line with Corporations Act provisions, the company will not mail hard copies of the Notice of Meeting unless specifically requested, instead directing investors to access meeting documents and lodge proxies online via its website and share registry portal, underscoring a shift toward electronic communications and potentially improving the efficiency and accessibility of shareholder engagement.
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.
Medallion Metals Ltd has called a general meeting of shareholders to be held on 27 January 2026 in West Perth, Western Australia, setting out an agenda of resolutions that will be decided by poll in accordance with the company’s constitution. The notice emphasizes the importance of shareholder participation, outlines eligibility and procedures for voting in person, by proxy, through corporate representatives, or by attorneys, and reflects the company’s adherence to Corporations Act requirements, underlining a formal governance process that may influence future corporate decisions and shareholder rights.
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.
Medallion Metals Limited has issued 151,515,151 new ordinary shares, as previously announced, and has confirmed that these shares were issued without a prospectus or other disclosure document under the relevant provisions of the Corporations Act. The company stated it is fully compliant with its financial reporting and continuous disclosure obligations and that there is no excluded information relevant to the new share issue, clarifying regulatory status for investors and supporting confidence in the placement process.
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.
Medallion Metals Ltd has applied to the ASX for quotation of 151,515,151 new ordinary fully paid shares under the code MM8, with an issue date of 22 December 2025. The sizeable new share issuance, lodged via an Appendix 2A, expands the company’s quoted capital base and may affect ownership structure and liquidity, marking a notable capital markets move that existing and prospective shareholders will weigh in terms of dilution and funding capacity.
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.
Medallion Metals Ltd announced a change in the director’s interest, with David Kelly acquiring 600,000 MM8AR unlisted options as part of his remuneration. These options were issued following shareholder approval at the Annual General Meeting, reflecting the company’s strategy to align director incentives with corporate performance.
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.
Medallion Metals Ltd has announced the issuance of 1,200,000 unquoted equity securities, specifically options expiring on July 16, 2028, as part of an employee incentive scheme. This move is likely aimed at enhancing employee retention and motivation, potentially impacting the company’s operational efficiency and aligning employee interests with shareholder value.
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.
Medallion Metals Limited has announced an update regarding its proposed issue of securities. The company has revised the issue date for its Securities Purchase Plan (SPP), reflecting a change in its previous announcement. This update is part of Medallion Metals’ ongoing efforts to manage its securities offerings and align with ASX listing requirements, potentially impacting its market operations and stakeholder engagements.
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.
Lion Selection Group Limited has committed to a $5.0 million investment in Medallion Metals as part of a $60.0 million fundraising effort. This funding will support the development of the Ravensthorpe Gold Project, enabling Medallion to become a gold producer amid high gold prices. The acquisition of the Forrestania processing facility will facilitate a quicker transition to production, while exploration and drilling activities are planned to enhance resource confidence and assess gold potential in the area.
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.
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.
Medallion Metals Limited, listed on the ASX under the ticker MM8, experienced an inadvertent lift of its trading halt by the ASX on 12 December 2025. The trading halt was initially requested by MM8 on 11 December 2025, and after the error was identified, trading was paused again to align with the company’s original request.
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.
Medallion Metals Limited announced the results of a Feasibility Study for the Ravensthorpe Gold Project, highlighting its potential as a technically robust and economically viable gold-copper development. The study emphasizes strong financial returns, low-cost development, and expansion opportunities, positioning the project as a significant growth platform in the Western Australian mining sector. The acquisition of the Forrestania Nickel Operation assets, including the Cosmic Boy Concentrator, is crucial for advancing the project, promising rapid payback and attractive returns, thus enhancing Medallion’s industry positioning.
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.
Medallion Metals Limited has requested a trading halt on its securities pending an announcement regarding a capital raising initiative. This move is expected to impact the company’s operations by potentially increasing its capital for future projects, thereby influencing its market positioning and stakeholder interests.
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.
Medallion Metals Limited has announced an update regarding its proposed acquisition of the Forrestania Nickel Operation from IGO Limited. The companies have agreed to extend the deadline for satisfying conditions precedent to February 20, 2026, allowing more time to finalize the acquisition. Medallion will cover project-related costs during this period. The company is advancing key approvals and documentation, aiming for completion by early 2026, which will enable a final investment decision.
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.
Medallion Metals Ltd announced the successful passage of all resolutions at its Annual General Meeting, indicating strong shareholder support for its current strategies and leadership. The approval of key resolutions, including the re-election of directors and the approval of a 10% placement facility, suggests a stable outlook for the company and potential for future capital raising activities.
The most recent analyst rating on (AU:MM8) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.
Medallion Metals Limited has successfully executed ancillary agreements as part of its proposed acquisition of the Forrestania Nickel Operation from IGO Ltd. These agreements cover mineral rights, royalty arrangements, and land options, marking a significant milestone towards completing the transaction. The acquisition is expected to enhance Medallion’s operational capabilities and strategic positioning in the mining sector, with completion targeted by the end of 2025.
The most recent analyst rating on (AU:MM8) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.
Medallion Metals Ltd has reached a significant milestone in the development of its Ravensthorpe Gold Project, having progressed to the final stage of assessment under the Environment Protection and Biodiversity Conservation Act 1999. This approval is crucial for advancing the company’s sulphide production strategy and is expected to be determined by December 2025, assuming no additional information requests. The approval will also influence the development timeline of the project, which is aligned with the company’s broader strategic goals, including the proposed acquisition of Forrestania.
The most recent analyst rating on (AU:MM8) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.
Medallion Metals Limited has announced a significant strategic move by acquiring the Forrestania Nickel Operation from IGO Limited, aiming to create a regional processing hub for its Ravensthorpe Gold Project. This acquisition is expected to streamline production processes, reduce development timeframes, and minimize environmental impact by utilizing existing infrastructure. Additionally, the company has reported promising assay results from its Ravensthorpe project and secured financial backing from Trafigura Pte Ltd to further support its development plans.
The most recent analyst rating on (AU:MM8) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.
Medallion Metals Limited has announced its upcoming Annual General Meeting, scheduled for November 26, 2025, in West Perth, Australia. Shareholders are encouraged to participate by submitting proxy forms online, with a deadline set for November 24, 2025. The company emphasizes the importance of the meeting notice and provides guidance for shareholders to access documents and update their communication preferences online. This meeting is a significant event for stakeholders, as it provides an opportunity to discuss the company’s strategic direction and operational plans.
The most recent analyst rating on (AU:MM8) stock is a Buy with a A$0.61 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.
Medallion Metals Limited has announced a change in the schedule for its Annual General Meeting, initially set for November 19, 2025, now postponed to November 26, 2025, due to unforeseen circumstances. This rescheduling may impact stakeholders’ planning and participation, but the company has ensured that the meeting details are accessible for those interested.
The most recent analyst rating on (AU:MM8) stock is a Buy with a A$0.61 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.
Medallion Metals Ltd has announced a significant partnership with Trafigura Pte Ltd to secure up to US$50 million in funding and establish offtake agreements for the Ravensthorpe Gold Project and Forrestania processing operations. This collaboration will provide Medallion with the necessary capital to advance its project development, combining debt funding and offtake agreements with a globally recognized partner. The agreement is expected to enhance Medallion’s industry positioning by securing a strategic funding source without commodity price hedging requirements, potentially impacting stakeholders positively by ensuring project viability and growth.
The most recent analyst rating on (AU:MM8) stock is a Buy with a A$0.61 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.