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Medallion Metals Limited (ASX:MM8)

ALERT: Price-sensitive ASX Announcement for MM8
Current share price for MM8 : $0.545 0.03 (5.83%)+
Announcement
Release
12 Aug 2026 8:39AM
Price at Release
$0.515
Full Release
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Summary
Medallion Metals Limited (ASX: MM8) has selected Macmahon Underground Pty Ltd as the preferred tenderer for the Ravensthorpe Gold Project's underground mining contract. The contract, valued at approximately $240 million, is expected to begin in Q4 2026 and last for 36 months. This selection marks a significant milestone in the Ravensthorpe development, which is fully permitted and set to commence box-cut excavation in August 2026. The tender process was competitive, and Macmahon's experience and competitive pricing were key factors in their selection. The development includes upgrades to accommodation facilities and further key contracts for infrastructure are imminent. The development activities provide confidence in progressing towards production.
Key Points
  • Macmahon selected as preferred tenderer for Ravensthorpe underground mining contract.
  • Contract valued at approximately $240 million over 3 years.
  • Works expected to commence in Q4 2026.
  • Ravensthorpe mine development now fully permitted.
  • Box-cut excavation to commence in August 2026.
  • Competitive tender process with strong interest from experienced contractors.
  • Macmahon's competitive pricing and experience were key selection factors.
  • Development includes refurbishment of a 100-person accommodation camp.
  • Additional contracts for power supply and infrastructure are imminent.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.