MM8.ASX: GR Engineering Awarded EPC Contract for Cosmic Boy

GR Engineering Awarded EPC Contract for Cosmic Boy

Stock	Medallion Metals Ltd (MM8.ASX)
Release Time	1 Sep 2026, 8:40 a.m.
Price Sensitive	Yes

This feature provides summaries of price-sensitive announcements for companies followed by users on InvestorPA. The summaries are generated by large language models so please interpret with care.

Medallion Metals Executes EPC Contract with GR Engineering

Key Points

Medallion Metals awarded $50M EPC contract to GR Engineering
Contract involves converting Cosmic Boy Concentrator to standalone facility
Expected to produce copper concentrate and gold doré from Ravensthorpe Gold Project

Full Summary

Medallion Metals Limited (ASX:MM8) announced the execution of an Engineering, Procurement, and Construction (EPC) contract with GR Engineering Services Limited (ASX:GNG) for the conversion of the existing Cosmic Boy Concentrator (CBC) into a standalone facility capable of producing copper concentrate and gold doré. The $50 million EPC contract replaces the previous $7.6 million Early Works Agreement, facilitating front-end engineering and design, procurement of long-lead items, and site readiness activities. The contract covers the remaining engineering, procurement, construction, and commissioning activities for CBC, aligning with the feasibility study estimate of $49 million. Site earthworks are complete, and concrete pouring is set to commence in early September. The Managing Director, Paul Bennett, expressed satisfaction with the contract execution, highlighting the logical partnership and the extension of the long-standing relationship between the two organizations.