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Mila Resources ( (GB:MILA) ) has shared an update.
Mila Resources Plc has announced the successful passing of resolutions at its General Meeting and the issuance of new equity to raise £776,000, funding its next phase of exploration. The company is set to commence a comprehensive exploration program at its Yarrol, Monal, and Mt Steadman sites, aiming to establish a JORC Compliant Mineral Resource Estimate and maximize shareholder value.
Spark’s Take on GB:MILA Stock
According to Spark, TipRanks’ AI Analyst, GB:MILA is a Neutral.
Mila Resources faces significant financial challenges with ongoing losses and cash burn. However, recent strategic initiatives in drilling and exploration at their Yarrol Gold Project present potential upside. Technical indicators suggest positive short-term momentum, but valuation remains a concern with negative earnings and no dividend.
To see Spark’s full report on GB:MILA stock, click here.
More about Mila Resources
Mila Resources Plc is a post-discovery gold exploration accelerator focused on advancing its exploration projects. The company operates primarily in the gold mining industry, with a market focus on developing its mineral resource estimates and expanding its exploration activities.
Average Trading Volume: 14,506,064
Technical Sentiment Signal: Buy
Current Market Cap: £3.66M
See more insights into MILA stock on TipRanks’ Stock Analysis page.