About MM8

Building a Multi-Asset Gold Production Hub

Medallion is combining the Ravensthorpe resource base with the Forrestania processing facility to establish a regional hub capable of delivering 150–200 koz per annum over time.

  • Stage-one production of ~80 koz pa with rapid payback
  • Integration of existing infrastructure reduces capital and accelerates first gold
  • Significant MRE growth potential at both Ravensthorpe and Forrestania
  • Progressive expansion through additional deposits and regional consolidation
  • Scalable platform designed to increase throughput and extend mine life

This strategy positions Medallion to transition rapidly from developer to producer, unlocking sustainable cashflows and long-term growth.

The Company has two 100% owned projects which cover approximately 600 square kilometres of tenure at the intersection of the world class Southern Cross greenstone belt and the Albany Fraser Orogen (located 500km south-east of Perth, near Esperance). To the north is the flagship Ravensthorpe Gold Project (RGP), which is the key focus of the Company’s sulphide gold development strategy. To the south lies the earlier stage Jerdacuttup Project (Jerdacuttup) prospective for base and precious metals.

In August 2024, Medallion announced it had entered exclusive negotiations with IGO to acquire key assets from IGO’s Forrestania Nickel Operation (FNO), including the Cosmic Boy Process Plant and related infrastructure, which would see the accelerated commencement of gold mining at RGP under a sulphide gold development scenario. Additionally, both companies are exploring the acquisition of gold and silver rights across the broader FNO tenure on a non-exclusive basis.

This development represents a transformational opportunity for Medallion to commence gold and copper production in the near term while reducing capital expenditure, minimising operational risk, and streamlining permitting processes. It also opens the door to reinvigorated exploration efforts across the highly prospective Forrestania greenstone belt, a historically significant gold-producing region.

Medallion is a 6.27% shareholder in NickelSearch Limited (ASX:NIS).

The Company is headquartered in Perth, Western Australia and led by a team with deep gold mining and mine development expertise. To view the Board and Management, click here. 

Location of Medallion’s 100% owned projects in Western Australia –  Ravensthorpe Gold Project (RGP) and Jerdacuttup Project (Jerdacuttup).

Our Assets

High-Grade Resource Base and Proven Sulphide Pathway

Medallion’s Ravensthorpe and Forrestania assets underpin a low-capex, high-margin sulphide production strategy providing a clear route to first gold.

  • 5.7 Mt @ 4.6 g/t Au & 0.6 % Cu sulphide core (840 koz Au & 37 kt Cu)
  • Mineralisation from 50 m depth, allowing early underground access
  • Proven Deflector-style metallurgy delivering high recoveries (98 % Au, 80 % Cu)
  • Underground-only mining reduces surface disturbance and streamlines permitting
  • Consistent, scalable geology with strong resource growth potential
  • Mining and environmental approvals in place supporting near-term development

This robust sulphide resource and readiness for production form the foundation of Medallion’s plan to build a multi-asset gold production hub in Western Australia’s Wheatbelt.

Infrastructure and Location Advantage

Medallion is positioned to accelerate production through access to established processing infrastructure and a dominant exploration footprint.

  • Completion of the Forrestania acquisition from IGO Limited, securing the Cosmic Boy processing plant and infrastructure
  • Flotation plant, TSF, grid power, camp and airstrip in place to support near-term operations
  • 900 km² of highly prospective ground across the Forrestania Greenstone Belt
  • “Plug-and-play” development model minimises capital intensity and shortens the path to cashflow

This infrastructure advantage underpins a low-risk, scalable growth strategy and establishes the platform for long-term production expansion.

ASSET QUALITY

HIGH-GRADE RESOURCE BASE
  • 5.6Mt @ 4.3g/t Au & 0.6% Cu sulphide core
  • Sulphide mineralisation starts just 50m from surface
  • Consistent, scalable geology with significant expansion potential
  • Advanced environmental approvals in Tier-1 jurisdiction

STRATEGIC POSITIONING

INFRASTRUCTURE & LOCATION
  • Binding agreement to acquire Forrestania processing plant from IGO Limited
  • Complete flotation plant, TSF, grid power, and supporting infrastructure
  • 900km² highly prospective Forrestania Greenstone Belt position
  • “Plug and play” solution eliminating typical development risks

VALUATION UPSIDE

Exceptional Economics and Clear Growth Leverage

Exceptional Economics and Growth Leverage
Medallion’s integrated development delivers strong returns with clear upside as production scales.

  • ~A$100 million pre-production capital for ~80 koz pa output over a 5.5-year mine life
  • Forecast AISC A$1,845/oz, within the lowest cost quartile
  • Pre-tax NPV A$429 million and IRR 169 % (spot pricing)
  • Multiple growth levers through resource expansion and regional consolidation

These economics position Medallion for a significant value re-rating as it advances toward sustained production.