Ravensthorpe Gold Project EPBC Referral Clears Preliminary Assessment Stage
Medallion Metals has secured a positive EPBC Referral decision for its Ravensthorpe Gold Project, marking a crucial milestone in its sulphide development strategy. The company aims to submit additional environmental data by March 2025, targeting final approval by Q3 2025 while progressing drilling and financing.
- EPBC Referral outcome: Assessment on Preliminary Documentation
- Additional environmental data due March 2025
- Final EPBC decision expected in Q3 2025
- Ongoing drilling, testwork, and financing discussions
- Approval critical for sulphide development and Forrestania processing
Positive EPBC Referral Outcome
Medallion Metals Limited (ASX: MM8) has taken a significant regulatory step forward with the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act) referral for its Ravensthorpe Gold Project (RGP). The Department of Climate Change, Energy, the Environment and Water (DCCEEW) has determined that the project will proceed to an Assessment on Preliminary Documentation. This outcome signals a green light to advance the environmental approval process, a critical hurdle for the company’s sulphide development strategy.
Next Steps in Environmental Assessment
The company is required to provide additional biological survey data and proposed environmental offsets, expected to be compiled and submitted by March 2025. Following this, the referral documentation and supplementary information will undergo public advertising and further revision based on stakeholder feedback. Medallion anticipates a final assessment decision from DCCEEW by the third quarter of calendar 2025, aligning with the statutory 40-business-day review period after submission of complete documentation.
Strategic Importance of EPBC Approval
Securing EPBC approval is pivotal for Medallion’s plan to mine at Ravensthorpe and process ore at Forrestania, the latter contingent on the successful acquisition of Forrestania assets. The company has already advanced permitting under Western Australian legislation for both sites, making the federal EPBC approval the remaining primary regulatory milestone before development can commence. Secondary state approvals will follow as part of the broader compliance framework.
Parallel Progress on Project Development
While navigating the regulatory pathway, Medallion Metals continues to push forward with drilling programs, metallurgical testwork, and detailed studies to refine project economics. Concurrently, the company is engaged in financing discussions aimed at securing capital for the final investment decision, expected later this year. This multi-track approach underscores Medallion’s commitment to advancing the RGP on schedule.
Outlook and Market Implications
The positive EPBC referral outcome provides investors with increased confidence in the project’s viability and regulatory trajectory. However, the timeline remains dependent on the quality and completeness of additional environmental data and the responsiveness of the regulatory process. Any delays or unforeseen environmental concerns could impact the development schedule and capital deployment.
Bottom Line?
Medallion Metals’ progress through the EPBC process sets the stage for a pivotal year ahead, with regulatory approval and financing poised to unlock the Ravensthorpe Gold Project’s potential.
Questions in the middle?
- Will the additional environmental data meet DCCEEW’s requirements without delay?
- How will negotiations for the Forrestania acquisition influence project timelines?
- What financing terms will Medallion secure to support the final investment decision?
