Australia's Medallion Metals rises on WA gold project funding, offtake deal

Medallion Metals

17/02/2026 03:43

** Shares of Australia's Medallion Metals MM8.AX rise as much as 9.6% to A$0.455, their biggest intraday pct gain since January 21

** The gold and copper miner says it has executed a deal for Trafigura Pte to provide co a $50 million loan, which it will use to fund development of the Ravensthorpe gold project in Western Australia

** Co has also executed an offtake agreement with Trafigura for the sale of coppergold concentrate produced from the site

** With the loan facility and offtake agreement finalised, co's Board has approved a positive final investment decision for the project

** YTD, shares down 4.6%

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))