Medallion Metals said the Forrestania Gold Project acquisition was completed in February 2026, adding about 900 square kilometres of tenure, the Cosmic Boy Concentrator and existing infrastructure. The company said exploration and resource drilling began at Lounge Lizard, where drilling validated historical results, extended known high-grade mineralisation and identified a new hanging-wall lode.
At Ravensthorpe, Medallion said all remaining approvals, including the Mine Development and Closure Proposal, were received after the end of the reporting year. The company said Ravensthorpe is fully permitted, development at the Kundip Mining Centre has commenced, and Macmahon was selected as preferred underground mining contractor.
Medallion said GR Engineering Services was awarded a $50 million EPC contract for refurbishment and modification of Cosmic Boy. Its early production strategy envisages processing operations commencing in October 2026 using third-party ore while refurbishment and development activities continue; this timing is an expectation stated by the company.
Source: Download MM8 official ASX announcement, 2026-09-23.
File image from earlier MES coverage: Medallion extends high-grade gold at Lounge Lizard ahead of 6,700m program. Not an image of the current announcement.