Mila Resources Secures £756,000 for Accelerated Exploration at Yarrol

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

Mila Resources Plc has successfully raised approximately £756,000 through a conditional placing to expedite exploration activities at its Yarrol site, following positive results from its H1 2025 drilling program. The funds will support further exploration, including ground magnetics and targeted diamond drilling, and the development of a local subsidiary to streamline operations. This initiative aims to de-risk resource drilling and enhance the resource potential of the company’s assets, with a mid-term goal of demonstrating asset value. Additionally, a proposed subdivision of ordinary shares is set to be voted on at a General Meeting, which is crucial for the placing to proceed.

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 operating in the gold exploration industry, focusing on accelerating exploration activities post-discovery. The company is primarily engaged in exploring and developing gold deposits, with a market focus on enhancing resource potential and demonstrating asset value, particularly in Queensland.

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.