Medallion Metals, TG Metals Sign Ore Processing Agreement for Van Uden Gold Stockpiles

MT Newswires Live07-22 08:11

Medallion Metals (ASX:MM8) and TG Metals (ASX:TG6) signed a non-binding ore processing and profit share agreement (OPPS) for the processing of about 60,000 tonnes of gold-bearing stockpiles from TG Metals' Van Uden Gold Project in Western Australia through Medallion's Cosmic Boy Concentrator, according to separate Australian bourse filings on Wednesday.

Medallion will be responsible for transporting and processing the stockpiles, with TG Metals receiving initial payments at the time of batch processing and reconciliation determining the final profit share.

Approvals to remove stockpiles from Van Uden are already in place, allowing readiness to commence when the agreement is finalized, with the arrangement complementary to the onsite heap leach strategy and providing two near-term cashflow generation streams from the Van Uden resource, the filing added.

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