Medallion Metals Progresses with Ravensthorpe Gold Project Permitting
MM8 (MM8) Share Update January 2025 Tuesday 7th
Medallion Metals Advances Ravensthorpe Gold Project Permitting
Medallion Metals Limited (ASX: MM8) has announced significant progress in the permitting process for its Ravensthorpe Gold Project, marking a crucial step forward in its development plans.
Instant Summary:
- Progress to Referral Decision stage under the EPBC Act.
- Public consultation period open for 10 business days.
- Referral decision expected by 5 February 2025.
- Key approval required for the Ravensthorpe Gold Project development.
Project Permitting Progress
Medallion Metals Ltd has announced that its Ravensthorpe Gold Project (RGP) has reached a significant milestone in its permitting process under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act). The project has advanced to the Referral Decision stage, a critical step in obtaining necessary environmental approvals.
The Department of Climate Change, Energy, the Environment and Water (DCCEEW) is responsible for administering these approvals. As part of the process, information about the proposed development at RGP has been published on the DCCEEW website for public consultation, which will last for 10 business days.
Consultation and Decision-Making
During the consultation period, stakeholders and the public can review the details of the project and provide feedback. This input will be considered alongside the referral information to determine whether the project is a 'controlled action' under the EPBC Act, which would require further assessment and approval from the Minister for the Environment and Energy.
If deemed not a controlled action, the project may proceed as described in the referral without additional EPBC Act approval. The decision on the referral is expected by 5 February 2025, unless further information is requested by the assessment team.
Significance of the Approval
Approval under the EPBC Act is one of the key outstanding permits required for the development of the Ravensthorpe Gold Project. The project is part of Medallion's broader sulphide development strategy, which also includes the acquisition of assets at Forrestania, subject to ongoing negotiations.
The outcome of the EPBC Act referral will be pivotal in determining the timeline for the project's commencement, aligning with the advanced status of permitting under Western Australian legislation.
This progress in the permitting process is a positive development for Medallion Metals, potentially accelerating the timeline for the Ravensthorpe Gold Project. The decision on the referral will significantly influence investor confidence and could impact the company's stock price depending on the outcome.
Investor Reaction:
Analysts are likely to view this progress favorably, as it represents a key step in the project's development. However, the final decision on the referral will be crucial in shaping investor sentiment and future stock performance.
Conclusion:
Investors should keep an eye on the outcome of the EPBC Act referral decision due by 5 February 2025, as it will play a crucial role in the project's future. Medallion Metals' continued progress in securing necessary approvals will be vital for maintaining investor confidence and advancing the Ravensthorpe Gold Project.