Medallion Metals has executed all subsidiary agreements related to its proposed acquisition of the Forrestania Nickel Operation from IGO Limited. This marks a significant step forward in the transaction, bringing Medallion closer to finalising the acquisition. Medallion Metals is an Australian exploration company focused on discovering and developing mineral resources. The company aims to create value through strategic acquisitions and exploration projects.
The ancillary agreements encompass IGO’s retained mineral rights within the Forrestania tenure. They also include a royalty agreement of up to 1.5 per cent net smelter return on any future gold and silver production derived from the area. Options over freehold land within the Forrestania tenure are also part of the agreement.
These agreements establish a framework for ongoing collaboration between Medallion and IGO. This collaboration will support Medallion as it advances its sulphide production strategy. It will also allow them to continue gold exploration activities across the Forrestania greenstone belt.
Completion of the acquisition is still contingent upon fulfilling the remaining conditions precedent outlined in the asset sale agreement. Medallion Metals anticipates reaching settlement and finalising the acquisition before the end of 2025, subject to the satisfaction of all conditions.
