Medallion Metals Ltd
Medallion Metals holds the Ravensthorpe Gold Project (updated resource: 19.5 Mt at 2.1 g/t gold, 0.3% copper) and the nearby Jerdacuttup Project (5.6 Mt polymetallic Trilogy deposit) in Western Australia, plus a 15.1% stake in ASX-listed nickel explorer NickelSearch Limited. Having secured its final EPBC Act development approval for Ravensthorpe, the company has adopted an Early Production Strategy: a new toll-processing agreement with IGO secures at least 200,000 tonnes of third-party ore feed through the Cosmic Boy plant, targeting first gold production from the Forrestania area in Q4 2026, roughly nine months ahead of planned Ravensthorpe ore treatment under a sulphide gold development plan.
Notable vs. Peers
- Financials score of 9/10 is stronger than the peer average of 6.4/10.
Lifecycle Milestones
Construction Milestones
2 of 5 reached- Aug 2026 · Final regulatory clearances (Mining Development and Closure Plan approval + Section 45C amendment to Ministerial Statement 1143) received, completing the permitting process -- the company's own release frames this as all key approvals now obtained to commence development. Note this postdates the Feb 17, 2026 CONSTRUCTION_DECISION above by ~6 months (an underlying EPBC Act approval was already secured Feb 3, 2026); real, sourced case of financing/FID preceding final permit completion, same shape as the SKE precedent in batch 1, not a data error. · Source
- Feb 2026 · Board issued a positive Final Investment Decision for the Ravensthorpe Gold Project, effective immediately, on execution of a US$50M Trafigura loan facility and offtake agreement -- the company's own framing describes this as its formal transition from explorer to developer. · Source
- Not yet reached
- Not yet reached
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Managing Director of Medallion Metals Ltd. Mining engineer with an MBA and 25 years of experience in resource operations and financing; holds a WA First Class Mine Manager's Certificate, with background at Newcrest, Western Metals and Panoramic Resources.
Chief Financial Officer of Medallion Metals Ltd. Over 26 years in mining finance, CPA with a Graduate Diploma of Applied Corporate Governance; has led financing for three greenfield gold mines.
Chief Operating Officer of Medallion Metals Ltd. 30+ years in mine operations and project development; former Managing Director of four ASX-listed companies with expertise in feasibility studies and project advancement.
GM Corporate Development at Medallion Metals Ltd. 30+ years in capital markets and corporate strategy; former Macquarie senior executive focused on transactions and investor relations.
GM Geology at Medallion Metals Ltd. 25+ years in exploration and resource development, having led significant copper-gold discoveries. Bachelor of Science (Honours) in Applied Geology, Curtin University.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Long Fort LLC is actually the largest disclosed holder here at 10.14%, but nothing in accessible sources establishes it as a resource-sector specialist or names its mandate, so it is recorded here for completeness without being credited as informed conviction capital. Franklin Gold and Precious Metals Fund, a real specialist, holds a smaller stake. Three directors bought stock on the open market in a clean, unopposed pattern in October 2024, now stale but with no offsetting selling on record since.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.