BUZZ-Australia's Medallion Metals rises on WA gold project funding, offtake deal
Reuters
Feb 17
BUZZ-Australia's Medallion Metals rises on WA gold project funding, offtake deal
** Shares of Australia's Medallion Metals MM8.AX rise as much as 9.6% to A$0.455, their biggest intraday pct gain since January 21
** The gold and copper miner says it has executed a deal for Trafigura Pte to provide co a $50 million loan, which it will use to fund development of the Ravensthorpe gold project in Western Australia
** Co has also executed an offtake agreement with Trafigura for the sale of coppergold concentrate produced from the site
** With the loan facility and offtake agreement finalised, co's Board has approved a positive final investment decision for the project
** YTD, shares down 4.6%
(Reporting by Shruti Agarwal in Bengaluru)
((Shruti.Agarwal@thomsonreuters.com))
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