Australia's Medallion Metals surges on multiple offers for Forrestania concentrate product

Medallion Metals

17/03/2025 03:44

** Shares of Medallion Metals MM8.AX rise 5.9% to A$0.180, their highest level since early December, 2022

** Mineral exploration receives indicative offers from 13 parties for copper-gold concentrate produced at the Forrestania Nickel Operation with offers of up A$50 million ($32 million)

** Co has been under negotiations for proposed acquisition of certain assets of Forrestania nickel operations in Western Australia from nickel and lithium producer IGO IGO.AX

** If successful, the deal would allow co to produce copper-gold concentrate from the Forrestania plant by processing mineralisation from its flagship Ravensthorpe project

** Stock up ~50% YTD, including current session's moves

($1 = 1.5808 Australian dollars)

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))