Latest news with #MedallionMetals
The Australian
7 days ago
- Business
- The Australian
MM8 on path to Ravensthorpe production
Medallion snags Forrestania Nickel Operation from IGO for 1.5% net smelter royalty on future gold production Deal preserves $29m war chest to progress work streams to facilitate Ravensthorpe development decision Resource upgrade and metallurgical work will feed into key feasibility study Special Report: Medallion Metals has executed an agreement to acquire IGO's Forrestania Nickel Operation, which will enable a fast-tracked pathway to gold and copper production from its Ravensthorpe project in WA. The agreement includes the existing Cosmic Boy processing plant and equipment, infrastructure, inventories and information including mineral rights other than nickel and lithium. This is a key plank in Medallion Metals' (ASX:MM8) plan to make a Ravensthorpe final investment decision in late 2025 that will transform it into WA's newest gold and copper producer. What makes the deal attractive is that there's no upfront or deferred cash consideration with the company granting IGO (ASX:IGO) a net smelter royalty of up to 1.5% on all future gold production from the tenements as consideration for the acquisition. It allows the company to preserve its circa $29m in cash reserves to progress multiple work streams such as testwork, feasibility studies and permitting activities to support the FID. IGO also retains the right to explore for, develop and mine nickel and lithium minerals over the tenements. 'The company now turns its focus to the development of a new gold and copper producer in Western Australia,' managing director Paul Bennett said. 'Bringing the established high-grade gold-copper resources at Ravensthorpe together with the Forrestania plant and infrastructure can unlock significant value in the short term, with a substantial option on future growth from the new discovery potential of the tenure at both Ravensthorpe and Forrestania. 'Study work is at an advanced stage, permitting is being progressed as a priority and discussions continue to advance positively with offtake and finance parties.' The acquisition is subject to several conditions including MM8 preparing and announcing a feasibility study, entering into a binding unconditional debt facility agreement and/or funding commitments, and reaching FID on the project. Ravensthorpe project The ~300km2 Ravensthorpe project is centred on the historical Kundip mining centre midway between the regional centres of Ravensthorpe and Hopetoun. It benefits from excellent infrastructure and is easily accessed by sealed roads with a sealed airstrip 10km to the south of the project. Resources currently stand at 19.2Mt grading 2.1g/t gold and 0.3% copper for contained resources of 1.3Moz gold and 56,000t copper. A scoping study completed in December 2024 estimated the project could produce 336,000oz of gold and 13,000t of copper from a production inventory of 2.7Mt grading 3.9g/t Au and 0.6% Cu, over a mine life of 5.5 years. This will generate pre-tax free cash flow of $498m using a base case assumed gold price of $3615/oz and copper price of $5.54/lb, which increases to $637m at a gold price of $4000/oz and copper price of $6.15/lb. The Forrestania Nickel Operations and Ravensthorpe gold project. Pic: Medallion Metals Given that gold prices currently stand at about US$3352/oz ($5177.44/oz) while copper is priced about US$4.40/lb ($6.80/lb), these figures can be considered to be fairly conservative. Forecast average all-in-sustaining cost is estimated at just $1845/oz of gold inclusive of net by-product credits while total pre-production capex is expected to be about $73m including mine establishment and process plant modifications. Pre-tax NPV and IRR is estimated at $329m and 129% respectively in the base case with payback expected within just 12 months Establishment of the proven, industry standard process route of gravity-flotation-CIL at Forrestania is expected to deliver high gold recovery of 98% and copper recovery of 80%. MM8 notes there's plenty of upside as the initial production inventory represents just 44% of existing sulphide resource (gold) with existing shallow drilling indicating the potential for further mineralisation at depth. There is also potential for commercialisation of its oxide and transitional resources (10.3Mt at 1.6g/t gold for 520,000oz of contained gold). Next steps The company is currently working with IGO to finalise ancillary agreements and progress towards transaction finalisation and closure. It expects to release an updated resource estimate in August that incorporates the results of the recently completed 17,000m drill program along with metallurgical recovery and metal deportment assumptions that will inform the feasibility study. MM8 has also materially progressed process engineering associated with planned modifications to the Cosmic Boy flotation plant. It will now begin placing orders for long lead time items inclusive of a secondary ball mill. Additionally, the company has submitted all additional information requested by the Department of Climate Change, Energy, the Environment and Water following its determination that the project will be assessed under preliminary documentation following its referral under the Environment Protection and Biodiversity Conservation Act 1999. Work has also started on submissions under the Environmental Protection Act 1986 while negotiations with potential offtake and finance parties are ongoing with MM8 expecting to mandate a preferred offtake and finance partner to work on an exclusive basis to establish binding concentrate offtake terms and finance terms. This article was developed in collaboration with Medallion Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Yahoo
02-06-2025
- Business
- Yahoo
Medallion Metals Limited's (ASX:MM8) biggest owners are retail investors who got richer after stock soared 11% last week
Medallion Metals' significant retail investors ownership suggests that the key decisions are influenced by shareholders from the larger public A total of 10 investors have a majority stake in the company with 51% ownership 11% of Medallion Metals is held by insiders Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. A look at the shareholders of Medallion Metals Limited (ASX:MM8) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are retail investors with 43% ownership. Put another way, the group faces the maximum upside potential (or downside risk). As a result, retail investors were the biggest beneficiaries of last week's 11% gain. Let's take a closer look to see what the different types of shareholders can tell us about Medallion Metals. View our latest analysis for Medallion Metals Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. Less than 5% of Medallion Metals is held by institutional investors. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. If the company is growing earnings, that may indicate that it is just beginning to catch the attention of these deep-pocketed investors. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. Hedge funds don't have many shares in Medallion Metals. Our data shows that Long Fort LLC is the largest shareholder with 16% of shares outstanding. With 7.2% and 5.9% of the shares outstanding respectively, Fan Rong Minerals Consulting Pty Ltd and Alkane Resources Ltd are the second and third largest shareholders. In addition, we found that Paul Bennett, the CEO has 1.7% of the shares allocated to their name. On further inspection, we found that more than half the company's shares are owned by the top 10 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There is some analyst coverage of the stock, but it could still become more well known, with time. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our most recent data indicates that insiders own a reasonable proportion of Medallion Metals Limited. It has a market capitalization of just AU$155m, and insiders have AU$17m worth of shares in their own names. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling. The general public-- including retail investors -- own 43% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. It seems that Private Companies own 39%, of the Medallion Metals stock. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. It appears to us that public companies own 5.9% of Medallion Metals. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Be aware that Medallion Metals is showing 3 warning signs in our investment analysis , and 2 of those can't be ignored... If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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Yahoo
02-06-2025
- Business
- Yahoo
Medallion Metals Limited's (ASX:MM8) biggest owners are retail investors who got richer after stock soared 11% last week
Medallion Metals' significant retail investors ownership suggests that the key decisions are influenced by shareholders from the larger public A total of 10 investors have a majority stake in the company with 51% ownership 11% of Medallion Metals is held by insiders Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. A look at the shareholders of Medallion Metals Limited (ASX:MM8) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are retail investors with 43% ownership. Put another way, the group faces the maximum upside potential (or downside risk). As a result, retail investors were the biggest beneficiaries of last week's 11% gain. Let's take a closer look to see what the different types of shareholders can tell us about Medallion Metals. View our latest analysis for Medallion Metals Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. Less than 5% of Medallion Metals is held by institutional investors. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. If the company is growing earnings, that may indicate that it is just beginning to catch the attention of these deep-pocketed investors. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. Hedge funds don't have many shares in Medallion Metals. Our data shows that Long Fort LLC is the largest shareholder with 16% of shares outstanding. With 7.2% and 5.9% of the shares outstanding respectively, Fan Rong Minerals Consulting Pty Ltd and Alkane Resources Ltd are the second and third largest shareholders. In addition, we found that Paul Bennett, the CEO has 1.7% of the shares allocated to their name. On further inspection, we found that more than half the company's shares are owned by the top 10 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There is some analyst coverage of the stock, but it could still become more well known, with time. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our most recent data indicates that insiders own a reasonable proportion of Medallion Metals Limited. It has a market capitalization of just AU$155m, and insiders have AU$17m worth of shares in their own names. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling. The general public-- including retail investors -- own 43% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. It seems that Private Companies own 39%, of the Medallion Metals stock. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. It appears to us that public companies own 5.9% of Medallion Metals. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Be aware that Medallion Metals is showing 3 warning signs in our investment analysis , and 2 of those can't be ignored... If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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Yahoo
16-05-2025
- Business
- Yahoo
Medallion secures $17m commitments to advance Ravensthorpe-Forrestania project in Australia
Medallion Metals has secured binding commitments to raise approximately A$27.5m ($17.6m) through a targeted institutional placement to accelerate the development of its Ravensthorpe Gold Project (RGP) and the acquisition of the Forrestania Nickel Operation (FNO) in Western Australia. This financial boost will expedite near-term production opportunities for gold and copper at the RGP, which will be processed at the FNO. The placement involves two tranches, with the first raising approximately A$6m through the issue of 28.6 million fully paid ordinary shares. The second tranche aims to raise approximately A$21.5m through the issuance of 102.3 million shares. Medallion will be well-capitalised post-placement, with around A$31m in cash, net of capital-raising costs. The proceeds will also support the de-risking and acceleration of the proposed FNO acquisition, in addition to facilitating relevant pre-development activities and supporting general working capital needs. The FNO, a sulphide flotation facility, includes the Cosmic Boy Flotation Plant, which is suitable for treating RGP gold-copper-bearing sulphide mineralisation. A scoping study released in December 2024 underscored the technical and commercial viability of this unique, low-capital expenditure pathway to production, utilising the FNO infrastructure. The scoping study highlights include an initial production inventory of 2.7 million tonnes (mt) at 3.9 grams per tonne gold and 0.6% copper, with a mine life of 5.5 years, generating average annual pre-tax cash flows of $90m under base case assumptions. Medallion has made progress with infill drilling, test work and permitting activities at the RGP. A bankable feasibility study (BFS) is also under way, laying the groundwork for the proposed development, with the final investment decision (FID) set for the fourth quarter of 2025 (Q4 2025). Canaccord Genuity served as the sole lead manager and bookrunner for the placement. Medallion managing director Paul Bennett said: 'Medallion emerges from this capital raising in an extremely strong position to accelerate the sulphide development strategy. The Board has confidence that tremendous value can be unlocked for Medallion shareholders by bringing Ravensthorpe resources together with the Forrestania infrastructure. 'Recent drill results suggest that opportunity will continue to grow with continued investment. Additionally, the recent amendments to proposed transaction terms to acquire the Forrestania tenure add a broader strategic dimension to the growth options open to the business. 'We thank new and existing shareholders for their support of the capital raising. The backing from this group of high-quality resources investor is a significant endorsement of the team, assets and near term gold copper production strategy. Shareholders can look forward to a strong pipeline of positive news and de-risking milestones throughout the remainder of 2025 and into 2026.' Earlier this month, Medallion Metals amended the terms of agreement with IGO to acquire 100% of the FNO. "Medallion secures $17m commitments to advance Ravensthorpe-Forrestania project in Australia" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Australian
07-05-2025
- Business
- The Australian
MM8 extends high-grade gold lode at Gem
Medallion Metals' drilling has extended high-grade gold lode at the Gem deposit by ~80m Results highlight potential to grow resources at the Ravensthorpe gold project Infill-focused drilling continuing ahead of defining updated resources to underpin feasibility study Special Report: Drilling at Medallion Metals' flagship Ravensthorpe gold project in WA has extended the high-grade lode at the Gem deposit by about 80m past the resource boundary. This follows drilling of two reverse circulation extensional holes down plunge of the Gem lode within the Kundip Mining Centre that returned: 6m grading 4.6g/t gold, 1% copper and 9.1g/t silver from a down-hole depth of 343m including 2m at 11.2g/t Au, 2.4% Cu and 19.5g/t Ag from 345m; and 343m including 2m at 11.2g/t Au, 2.4% Cu and 19.5g/t Ag from 345m; and 3m at 6.8g/t Au, 0.6% Cu and 5.5g/t Ag from 346m and 2m at 3.9g/t Au, 0.6% Cu and 2.9g/t Ag from 355m Medallion Metals (ASX:MM8) said the intersections sat ~60m beyond the limits of the current mine plan, 40-80m beyond the current inferred resource boundary and 40-100m down plunge from drilling that determines the resource estimate. The results confirm the potential to increase the current resource of 5.6Mt at 4.3g/t Au and 0.6% Cu for contained resources of 770,000oz Au and 36,000t Cu. It also supports the technical team's belief that the 6.7m semi-massive to massive sulphide intersections reported in diamond drilling on April 3, 2025 represent a newly identified and separate sulphide occurrence to the Gem main lode zone. 'These results are extremely positive and have important implications for the project as the business looks toward near-term development,' managing director Paul Bennett said. 'Project economics are significantly levered to mine life extensions and these results demonstrate that above cut-off grade mineralisation at mineable widths extends up to 60 metres down plunge from the current limits of the mine plan. 'This builds further confidence that mine life can be increased by extensions to the known lodes as well as through delineation of new lodes at depth with ongoing drilling. 'We maintain we are just scratching the surface of this significant mineralised system as continued investment delivers for our shareholders.' Long section view of Gem showing reported drilling results. Pic: Medallion Metals Resource extension drilling The two holes are part of a broader 17,000m drill program designed to grow the high-grade sulphide underground resource at KMC in size and confidence. About 15,000m of combined diamond and RC drilling has been completed under the program, which will inform a resource update underpinning a feasibility study assessing the technical and commercial viability of mining Ravensthorpe ore at a modified Cosmic Boy process plant. In August 2024, MM8 entered an exclusivity agreement with IGO to negotiate the acquisition of the Forrestania Nickel Operation, which includes the Cosmic Boy plant and associated infrastructure. The two holes at Gem are the only ones in the program aimed at extending resources as opposed to the predominantly infill nature of the remainder. They targeted southwest plunge extensions of lode positions interpreted from step out drilling completed in 2022 that is also supported by a single deep diamond hole that returned 7.8m at 2.7g/t Au, 0.1% Cu and 0.6g/t Ag in January 2024. Both holes intersected quartz-sulphide vein mineralisation at the interpreted lode position, a finding consistent with previous drilling logged from elsewhere in the Gem deposit. Road ahead MM8 will complete the enlarged drill program ahead of completing a Ravensthorpe resource update in June 2025 and an updated resource for Harbour View in July. The updated resources will form the basis of a feasibility study that will inform the board's decision to progress with a development. Exclusive negotiations to acquire FNO from IGO also continue to advance positively with the company having extended the period of exclusivity to August 2025 to accommodate negotiation and drafting of binding documents. Other workstreams include metallurgical, geotechnical and hydrogeological testwork and analysis to support the feasibility study, and progression of environmental permitting with a focus on primary approvals at State and Federal levels. The company has also started seeking primary legislative approvals to allow mining to begin at Ravensthorpe and haulage of ore to Forrestania for processing. This article was developed in collaboration with Medallion Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
