MM8.ASX: Major Milestones Achieved at Cosmic Boy

Major Milestones Achieved at Cosmic Boy

Stock	Medallion Metals Ltd (MM8.ASX)
Release Time	9 Jun 2026, 9:10 a.m.
Price Sensitive	Yes

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Medallion Metals Achieves Major Milestones at Cosmic Boy

Key Points

$7.6 million Early Works Agreement with GR Engineering Services
Front End Engineering and Design (FEED) completed
Secondary ball mill delivery expected in August 2026

Full Summary

Medallion Metals Limited (ASX:MM8) has made significant progress in the refurbishment and modification of the Cosmic Boy Concentrator (CBC) to process Ravensthorpe Gold Project (RGP) ore. The company has completed the Front End Engineering and Design (FEED) phase, validating project capital estimates and supporting the execution of the Engineering, Procurement, and Construction (EPC) contract. An Early Works Agreement with GR Engineering Services (ASX:GNG) has been executed, committing to approximately $7.6 million in expenditure for project readiness activities. The EPC contract is expected to be finalized in July 2026. Additionally, the company has completed plant cleaning and inspection, enhancing confidence in refurbishment timing and cost. The secondary ball mill, a key component of the plant modifications, is expected to be delivered in August 2026. CBC commissioning on RGP ore remains on track for Q2 CY2027.

Guidance

CBC commissioning on RGP ore remains on track for Q2 CY2027

Outlook

The company continues to assess implementation of an interim processing solution to accelerate cash flow generation.