Mila Resources Announces Director’s Conditional Subscription

Mila Resources ( (GB:MILA) ) has shared an update.

Mila Resources PLC has announced a conditional subscription by its director, Mark Stephenson, who has invested £20,000 for 2,857,142 ordinary shares at a price of 0.7 pence each. This investment is contingent upon the approval of resolutions at the upcoming General Meeting, which will also facilitate the admission of these shares to the London Stock Exchange. Following this subscription, Stephenson’s shareholding will increase significantly, and the total issued share capital will consist of 652,835,116 ordinary shares, impacting the voting rights and shareholding calculations for stakeholders.

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

Average Trading Volume: 12,264,931

Technical Sentiment Signal: Buy

Current Market Cap: £4.28M

For an in-depth examination of MILA stock, go to TipRanks’ Overview page.