Medallion Metals De-Risks Its Path to Gold Production
Repurposing an existing nickel processing facility and a $60 million capital raise are removing key risks on the path to becoming a gold producer at Ravensthorpe.
3 Jul 2026 · 2 min read
In short
Medallion Metals is repurposing an existing nickel processing facility for gold production at its Ravensthorpe Gold Project, significantly reducing the permitting and construction risks of a greenfield plant.
Lion Selection Group invested $5.0 million as part of a $60.0 million fund raising conducted at 33 cents per share, taking its interest in Medallion Metals to approximately 4.4%.
The funding enables Medallion Metals to finalise project development and become a gold producer with exposure to record high gold prices, alongside near-term growth from drilling that commenced January 2026.
Medallion Metals attracted Lion Selection Group's interest by acquiring and repurposing an existing nickel processing facility for gold production, significantly de-risking the path to becoming a gold producer at its Ravensthorpe Gold Project, backed by a $60 million capital raise that funded project development and near-term drilling growth.
Repurposing existing infrastructure de-risks the path to production
Lion Selection Group said Medallion Metals attracted its interest after acquiring and repurposing an existing nickel processing facility for gold production, with Widdup saying this significantly reduced the risks associated with permitting and building a greenfield plant, noting the company has taken care of most of the risk points.
Medallion Metals, which has attracted Lion's interest after acquiring and repurposing an existing nickel processing facility for gold production, significantly reduced the risks associated with permitting and building a greenfield plant. They've taken care of most of the risk points.
— Lion Selection Group, Article, July 2026
A funding round enabling gold production and near-term growth
Lion Selection Group said it invested $5.0 million as part of a $60.0 million fund raising announced by Medallion Metals in December 2025, conducted at 33 cents per share, taking its interest in Medallion to approximately 4.4 percent. The funding was a key component of Medallion finalising project funding to enable development of the Ravensthorpe Gold Project, becoming a gold producer and gaining exposure to record high gold prices, with the attraction for Lion being a combination of de-risking and growth: moving soundly to production with funding risk rapidly falling away, alongside near-term growth opportunities from drilling that commenced in January 2026.
The attraction of Medallion for Lion to aggressively build on its interest is a combination of derisking and growth: moving soundly to production with funding risk rapidly falling away, and near term growth opportunities with drilling that commenced in January 2026.
— Lion Selection Group, Quarterly Report, January 2026
What fund managers say they are watching next is progress toward gold production at Ravensthorpe following the repurposed nickel facility approach, results from the drilling program that commenced in January 2026, delivery on the full $60 million funding round's project development milestones, and continued exposure to record high gold prices as production ramps up.
Questions
How is Medallion Metals reducing the risk of building its Ravensthorpe Gold Project?
Medallion Metals is acquiring and repurposing an existing nickel processing facility for gold production, which Lion Selection Group notes significantly reduces the risks associated with permitting and building a greenfield plant.
How much did Medallion Metals raise to fund its gold project?
Medallion Metals raised $60.0 million in December 2025 at 33 cents per share, a key component of finalising project funding to enable development of the Ravensthorpe Gold Project and become a gold producer.
What growth opportunities does Medallion Metals have beyond production?
Lion Selection Group notes near-term growth opportunities from a drilling program that commenced in January 2026, alongside the company's path to becoming a gold producer with exposure to record high gold prices.
1 managers, 4 comments, with each manager's latest recorded position.
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