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Medallion Metals Ltd ASX:MM8

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

30 Apr 2025 to today

Commentary Showing 2 of 4

DateManagerActionSummary

3 Jul 2026Lion Selection GroupHeldLion Selection Group continues to hold Medallion Metals, noting the company has attracted increased interest after acquiring and repurposing an existing nickel processing facility for gold production. Portfolio manager Hedley Widdup notes this approach significantly reduces the permitting and construction risks typically associated with building a greenfield processing plant, having addressed most of the key risk points in the development pathway.

Gold MiningArticle, price recorded $0.42

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31 Jan 2026Lion Selection GroupIncreasedLion Selection Group increased its investment in Medallion Metals, investing $5.0 million as part of a $60.0 million fund raising announced in December 2025 at 33 cents per share, taking its interest to approximately 4.4%. The manager notes this funding was a key component in finalising project financing for the Ravensthorpe Gold Project, enabling Medallion's development into a gold producer positioned to benefit from record high gold prices, with continued growth potential from drilling that commenced in January 2026 as project funding risk has fallen away.

Quarterly Report, price recorded $0.45

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2 more comments on MM8Pro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on MM8.

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Articles

3 Jul 2026Medallion Metals De-Risks Gold Production With a Repurposed Plant

About Medallion Metals Ltd

Materials, Metals and Mining

Medallion Metals (ASX:MM8), a gold developer, is repurposing an existing processing plant. In July 2026, Lion Selection Group said Medallion attracted its interest after acquiring and repurposing an existing nickel processing plant for gold production at Ravensthorpe in Western Australia, reducing development risk and capital costs. In January 2026, Lion said it invested $5 million as part of a $60 million raising announced by Medallion in December 2025. Medallion Metals operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 4 comments from 1 fund manager, Lion Selection Group. Founded in 2016 and headquartered in Perth, Medallion Metals is developing the Ravensthorpe gold project in Western Australia's south coast region, where it has defined a reserve of around 400,000 ounces, and has acquired the Forrestania nickel processing plant to treat its ore.

Market cap: $395m
Price to earnings: Loss-making
Return on equity: -23.9%
Dividend yield: 0.0%
Price to book: 4.79x
Net margin: -3253.0%
52-week range: $0.33 to $0.60

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Medallion Metals Ltd (ASX:MM8)?

Fund managers including Lion Selection Group have invested in Medallion Metals Ltd (ASX:MM8).

What opportunities or catalysts do fund managers highlight for Medallion Metals Ltd?

Lion Selection highlights the de-risking provided by repurposing an existing processing plant and a $60 million capital raising funding development.

What are the key risks to the Medallion Metals Ltd investment thesis, according to fund managers?

The available commentary does not set out specific risks, though Medallion must complete plant conversion and ramp up production successfully.

What does Medallion Metals Ltd (ASX:MM8) do?

Medallion Metals Ltd. is a mineral exploration company focused on the Ravensthorpe Gold and Jerdacuttup projects. Founded by Edmund J. Ainscough on November 10, 2015, the company is headquartered in West Perth, Australia.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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