Business & Investment

MM8-Medallion Metal | Australia Stock Forum

Medallion Metals Limited is a resource exploration and development company that owns two Western Australian projects focused primarily on precious and base metals.

The company has the Ravensthorpe Gold Project (RGP) and the Jerdacuttup Project (JP) in the Goldfields-Esperance region of Western Australia, about 550 km southeast of Perth and 185 km of Western Australia (both expected to be precious and base metals). Owns. The nearest deep sea port, Esperance. In 2016, we acquired the project from Silver Lake Resources Limited (ASX: SLR) for $ 5.5 million.

The two projects consist of 47 mining rights (4 prospecting licenses, 1 prospecting license application, 22 exploration licenses, 5 exploration license applications, 12 mining leases and 3 other leases). , 100% owned by companies other than the three search licenses. We have 100% rights to all mining industries except lithium and tantalum, and 80% have one exploration license application.

The tenement house has an area of ​​over 653 km², an annual spending commitment of approximately $ 900,000, and rent and fees of approximately $ 150,000 annually.

The historic Kundip mining center, the focus of the RGP, consists of a number of mineralized structures that have continued exploration and mining activities at various levels throughout history.

Since acquiring the project, we have been doing the following:

  • An additional $ 15.3 million was spent on drilling, exploration, testing, research, environmental and statutory approval-related activities, and management of mineral resource definitions.When
  • Reported JORC 2012 Mineral Resources estimates at the RGP of three adjacent deposits (Flag Harbor View and Kaolin) in the Kundip area, showing the solid economics of open pit mining and underground. And completed the feasibility study in May 2020. Mining and processing of ore mined at the site.

Our main purpose is to become a gold producer in the Ravens Soap Gold Project in the medium term.

MM8 is expected to be listed on ASX in March 2021.

MM8-Medallion Metal | Australia Stock Forum MM8-Medallion Metal | Australia Stock Forum

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