Medallion Metals Secures $60M for Growth
Key points
- $60M placement funds secured from high-quality investors
- Placement strongly supported by existing shareholders
- Approximately $175M in liquidity to support production ramp-up
Full summary
Medallion Metals Limited (ASX: MM8) has successfully raised $60 million through a placement of 125 million shares at $0.48 each, strongly supported by both new and existing investors. This funding, combined with existing cash reserves and non-dilutive funding lines, provides the company with approximately $175 million in liquidity. This financial strength will support the ramp-up of the Ravensthorpe Gold Project, including processing at Forrestania, and accelerate growth drilling across the company's portfolio in Western Australia. The placement is expected to settle on 26 August 2026 and commence trading on 27 August 2026.
Guidance
Approximately $175M in available liquidity for project ramp-up and drilling
Outlook
The company is well-positioned to progress to commercial production of gold and copper, with positive news expected throughout 2026 and into 2027.
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