Price Target Changed • Apr 10
Price target increased by 8.2% to AU$0.98 Up from AU$0.91, the current price target is an average from 2 analysts. New target price is 126% above last closing price of AU$0.43. Stock is up 67% over the past year. The company is forecast to post a net loss per share of AU$0.01 next year compared to a net loss per share of AU$0.015 last year. Reported Earnings • Mar 15
First half 2026 earnings released: AU$0.01 loss per share (vs AU$0.004 loss in 1H 2025) First half 2026 results: AU$0.01 loss per share (further deteriorated from AU$0.004 loss in 1H 2025). Net loss: AU$7.84m (loss widened 330% from 1H 2025). Revenue is forecast to grow 134% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 03
Medallion Metals Limited (ASX:MM8) acquired Forrestania Nickel Operation from IGO Limited (ASX:IGO). Medallion Metals Limited (ASX:MM8) entered into a binding Asset Sale Agreement to acquire Forrestania Nickel Operation from IGO Limited (ASX:IGO) on August 4, 2025. As consideration for the purchase of Forrestania Nickel Operation, Medallion Metals Limited will grant to IGO Limited a 1.5% Net Smelter Return Royalty on any gold produced. If the agreement is terminated before completion for reasons other than IGO Limited's default, Medallion Metals Limited must pay IGO Limited a Break Fee that accrues over time, calculated as 50% of Direct Project Costs for the first four months after the Agreement's execution and 100% thereafter until termination
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer board, obtaining financing and third party approval needed. The expected completion of the transaction is late 2025. As per the announcement dated December 10, 2025 the transaction is expected to close on February 20, 2025. Medallion Metals is pleased to announce it has selected Trafigura Pte Ltd (“Trafigura”) to exclusively arrange and provide a prepayment facility and copper concentrate and gold dore purchase agreements for the proposed development of the Ravensthorpe Gold Project (“RGP”) and processing operations at Forrestania. Subject to the satisfaction of relevant conditions precedent including technical, financial and legal due diligence and relevant approvals, the proposed Facility is for up to AUD 77 million with a four-year term commencing from initial disbursement, including a one-year grace period followed by a three-year repayment period. Development activities will commence following confirmation that all conditions precedent to the completion of the Forrestania acquisition1 (Transaction) have been waived or satisfied, at which time the Transaction will proceed to completion. Confirmation that the Transaction conditions precedent have been satisfied or waived is expected on or before February 20, 2026, with completion expected to occur on or before February 27, 2026. As of February 27, 2026 all conditions precedent to the acquisition of the Forrestania Nickel Operation from IGO Limited pursuant to the conditional binding Asset Sale Agreement have been satisfied or waived. The Transaction will now progress to completion with handover targeted to occur today at 5pm Friday 27 February 2026.
Medallion Metals Limited (ASX:MM8) completed the acquisition of Forrestania Nickel Operation from IGO Limited (ASX:IGO) on March 2, 2026. 
