Medallion Metals (MM8) Diggers & Dealers Mining Forum 2026 summary

Strategic progress, vision, and asset integration

• Advanced from explorer to near-term gold and copper producer, integrating Ravensthorpe and Forrestania assets and focusing on scalable production in Western Australia.

• Strategic acquisition of Forrestania, including processing plant and tenements, expanded production profile and mine life.

• Strategy emphasizes capital efficiency, strong margins, and multiple growth options, including dual production assets and early production initiatives.

• Management strengthened with high-caliber hires to support transition and growth.

• Institutional and corporate support increased, reflecting confidence in assets and strategy.

Project development and operational milestones

• First production expected next quarter, targeting steady state within 12 months at 80,000 oz/year, with first gold targeted for Q2 2027.

• Fully permitted Ravensthorpe project, with box cut excavation starting this month and portal in November.

• Forrestania plant leveraged for rapid, capital-efficient production; upgrades and modifications underway.

• Early processing strategy at Forrestania to generate cash flow and cover holding costs ahead of Ravensthorpe ore.

• Third-party ore deliveries and toll treatment agreements secured, providing immediate revenue streams.

Resource growth and exploration upside

• Ravensthorpe resource at 950,000 oz (sulfide), with additional 240,000 oz (oxide/transitional) as future growth.

• Kundip Mining Centre has a global MRE of 1.1Moz, with lodes open at depth and new high-grade discoveries.

• Forrestania tenements include 33–53 gold prospects, historical resources, and significant untested data.

• Lounge Lizard prospect undergoing confirmatory drilling and resource estimate, positioned as a near-term second feed source.

• Systematic exploration underway to identify additional feed sources and extend mine life.