Argonaut acted Lead Manager and Underwriter to successfully raise $12.5 million for the Initial Public Offer of Medallion Metals (ASX:MM8) (“Medallion” or the “Company”) at an issue price of $0.20 per share. Funds from the IPO are earmarked to begin a 30,000m drill program at the Company’s 100% owned Ravensthorpe Gold Project to grow the resource beyond the existing 674,000 ounces gold at 2.3g/t. Two drill rigs (one RC and one diamond) arrive the week beginning 5 April 2021. Argonaut is excited to support Medallion and looks forward to its ongoing success.

Additional information regarding Medallion can be found on the Company’s website at https://medallionmetals.com.au/