Medallion Metals Ltd. is on track to commence gold processing at its Cosmic Boy Concentrator in October under its Early Production Strategy (EPS).
The company reported that both its Ravensthorpe and Forrestania gold projects in Western Australia’s South-West Goldfields are progressing on schedule and within budget, marking a key transition from development toward commercial gold production.
Initial processing activities at Cosmic Boy will begin with a 5,000-tonne stockpile from the Teddy Bear deposit to commission infrastructure and establish gold in circuit, with first sales expected in November.
Following commissioning, the plant will transition to processing third-party ore, generating early cash flow while underground development advances at Ravensthorpe.
At the Kundip Mining Centre, bulk earthworks are 50 per cent complete, and the first box-cut blast has been successfully executed.
Mining contractor Macmahon is mobilising to site, with underground mine development scheduled to begin in December 2026. First underground ore from Kundip is targeted for the second quarter of CY2027.
“After several years of planning, approvals and investment, it’s gratifying to see the progress we’re making across both Ravensthorpe and Forrestania,” said Medallion Managing Director Paul Bennett.
“We’re preparing to process our first gold ore at Cosmic Boy this month, while construction at Kundip is setting us up to commence underground mine development before the end of the year.”
Alongside site development, exploration programs are advancing across key targets. Diamond drilling is underway at Lounge Lizard, while reverse circulation drilling continues at Teddy Bear. Updated mineral resource estimates for both deposits are expected in the fourth quarter of CY2026 to support future growth.
With a strong balance sheet and active work programs across both regional hubs, Medallion remains focused on maintaining safety standards, schedule adherence, and cost discipline as it enters its next growth phase.
“We have a strong financial position and a clear development plan,” Bennett commented.
“Our focus remains on delivering safely, maintaining our schedule and managing costs as we bring both projects into production.
“There’s a lot to look forward to, and I’m excited about what we can achieve together.”
