The Medallion Metals Ltd (ASX: MM8) share price is in focus today after the company announced it has secured all key regulatory approvals needed to begin development of the Ravensthorpe Gold Project. This final approval clears the way for Medallion to launch its integrated production strategy, with early production on track for later this year.
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What did Medallion Metals report?
- Secured approvals for the Mine Development and Closure Plan at the Ravensthorpe Gold Project
- Section 45C amendment to Ministerial Statement 1143 granted
- All statutory approvals now in place to start development activities at Ravensthorpe
- Early Production Strategy on track for Q3 CY2026
- First Ravensthorpe ore to Cosmic Boy Concentrator targeted for Q2 CY2027
What else do investors need to know?
Medallion Metals has now completed the regulatory phase for its flagship gold project after 18 months of steady progress. The company can now start mine development in line with its published project schedule. With permitting and approvals secured, management is shifting to execution, aiming for early cash flow via its Early Production Strategy.
The next steps include starting development at the Kundip Mining Centre and preparing the Cosmic Boy Concentrator for processing the first ore. The company highlights that these milestones put it on a clear path towards production and value creation for shareholders.
What did Medallion Metals management say?
Managing Director Paul Bennett said:
Securing these key regulatory approvals is a significant milestone for Medallion and completes the regulatory pathway required to execute our production strategy. Over the past 18 months we have consistently delivered the major milestones required to advance the business, from project acquisition and financing through to permitting and the Early Production Strategy. With those foundations now in place, our focus turns to execution. Development activities will commence in accordance with our published schedule as we progress towards first production. We remain committed to delivering on the strategy we've outlined to shareholders and creating long-term value through disciplined execution.
What's next for Medallion Metals?
With all approvals secured, Medallion is set to start mine development activities at the Ravensthorpe Gold Project. Key priorities include advancing underground works at Kundip Mining Centre, implementing the Early Production Strategy in the coming months, and upgrading the Cosmic Boy Concentrator.
The company remains committed to its published development schedule, aiming for first ore in Q2 CY2027 and a smooth transition into the production phase.
Medallion Metals share price snapshot
Over the past 12 months, Medallion Metals shares have risen 70%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 2% over the same period.
