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Mila Resources ( (GB:MILA) ) has shared an update.
Mila Resources Plc has commenced Phase 2 of its exploration program at the Yarrol Gold Project in Queensland, Australia. This phase aims to further explore the 20km Yarrol Fault, with plans for ground magnetic surveys and drilling to enhance understanding of the mineralization and expand resources. The program includes diamond and reverse circulation drilling scheduled for later in the year, and additional studies at the Mt Steadman and Monal licenses. These efforts are expected to bolster the company’s geological model and contribute to a maiden mineral resource estimate, potentially establishing Yarrol as a significant gold discovery.
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 company in the natural resources sector, focusing on gold exploration and acceleration. Its primary operations are centered around the Queensland Gold & Copper Portfolio in central Queensland, Australia, with a particular focus on the Yarrol Gold Project. The company aims to unlock mineral systems and define mineral resources in this region.
Average Trading Volume: 16,246,549
Technical Sentiment Signal: Sell
Current Market Cap: £3.43M
For detailed information about MILA stock, go to TipRanks’ Stock Analysis page.