• Shares of Medallion Metals rise as much as 12.5% to A$0.27, their biggest intraday pct gains since April 10

• Stock hits highest level since May 8

• Gold and copper focused miner says received firm commitments to raise A$27.5 mln ($17.64 mln) to progress near-term gold and copper production opportunity for Ravensthorpe Gold Project with processing at Forrestania

• Placement at 21 Au cents/shr

• Says placement proceeds to de-risk and accelerate the proposed acquisition of the Forrestania nickel operation

**About 1.5 mln shares change hands, vs the 30-day average of 1.3 mln

• Stock up over 110% YTD, last up 7.3%
($1 = 1.5591 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)