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Mila Resources ( (GB:MILA) ) has provided an update.
Mila Resources has reported results from its maiden diamond drilling programme at the Yarrol Gold Project in Queensland, which confirm the continuity of gold-bearing structures from surface to around 300 metres depth and validate the scale of the mineralised system, albeit with less consistent high-grade intercepts at depth than in shallow zones. While deeper drilling returned lower and more sporadic grades than anticipated, the data has significantly refined the company’s geological model and led Mila to prioritise multiple near-surface, shallow targets along strike at Yarrol, Monal and Mt Steadman, where it sees a more capital-efficient path to resource growth; fully funded reverse circulation drilling is scheduled to begin in the first quarter to target resource expansion in these areas and support disciplined capital allocation across its exploration portfolio.
The most recent analyst rating on (GB:MILA) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on Mila Resources stock, see the GB:MILA Stock Forecast page.
Spark’s Take on GB:MILA Stock
According to Spark, TipRanks’ AI Analyst, GB:MILA is a Neutral.
The score is primarily constrained by weak financial performance (no revenue, ongoing losses, and continued cash burn), partially offset by low reported leverage and an equity cushion. Technicals add modest pressure given the price trading below key moving averages with negative MACD, while valuation provides limited support due to a negative P/E and no dividend yield.
To see Spark’s full report on GB:MILA stock, click here.
More about Mila Resources
Mila Resources Plc is a London-listed mineral exploration company focused on accelerating the development of post-discovery gold assets, with a key exploration portfolio in Queensland, Australia. Its primary activities centre on drilling and geological modelling to define and expand gold resources across licences including Yarrol, Monal and Mt Steadman along the Yarrol Fault corridor.
Average Trading Volume: 10,679,390
Technical Sentiment Signal: Buy
Current Market Cap: £11.18M
For a thorough assessment of MILA stock, go to TipRanks’ Stock Analysis page.