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Ontarget many thanks for this and apologies for missing this. Been in ALL for years and do understand the issues around mining as nothing ever goes in a straight line and fully acknowledge a FFS. GLA holders but sometimes patience gets carried away.
This was released just 3 weeks ago FFS: https://www.lse.co.uk/rns/MILA/stage-2-drilling-to-commence-at-kathleen-valley-s3gpswrf6il7ukp.html
Permits and approvals have been received, site works scheduled for the following week i.e. w/c 8/8 just 2 weeks ago.
What do you think site works involves exactly?
Personally my concern is the long overdue RNS to say we have the permit and are drilling unless I have missed something. This reminds me of the days management quietness prior to the mine deal…..believe shareholders need to be told please MR Stephenson.
I certainly wouldn't rule out a fundraise. More a matter of timing, even if you accept this phase 2 drilling is fully funded. That £2.5m in cash in Dec 2021 won't be lasting long and they want options to increase their stake in Kathleen if forthcoming results are exceptional. I'm more cautious about what sp a fundraise would be done though as I've been burnt by deep discounts to current sp in other promising companies before.
may drop even more today, maybe some sold to get into EST or ANGS Starting to look extremly cheap again, or is there a 3p placing in the wings? 6.5 million sell Wednesday didnt encourage either
Huge amount of what looks like coordinated selling and not a word from the BOD on the 2nd round of drilling. Sentiment is on its ass at the mo! Great time to buy! :-)
Herts, I'm not so sure people are seeing yet how undervalued MILA is. It may be that it is hard to ascribe a credible value to it based on lots of unknowns and unlikely positives. I can see this rising on news of actual drilling but whether it will hold the gains will have to be seen. I guess it all comes down to whether assay results will exceed market expectations and what consensus there is about the ability of the managements to sell the asset at a good premium.
Interesting activity by the same person across 2 stocks executed at the same time:-
Share Price Information for Mila Resources (MILA)
24-Aug-22 14:03:21 3.80 6,719,826 Unknown* 3.70 3.80 255.35k O
Share Price Information for Wishbone (WSBN)
24-Aug-22 14:03:23 13.75 2,363,500 Unknown* 14.00 15.00 324.98k O
4.18p paid, Seems folk are now seeing how undervalued MILA is Drill about to start (look at last few RNS and our grades for phase 1)
buys coming in again, cant be far till we get drill commence RNS just look at the outstanding grades we found in phase 1 GLA
disapointing to see this back below 4p a poster on advfn has sold circa 1 million yesterday to fund a position on CTL so selling volume is in the main from that, looking to add more tomorrow
Thanks.
There not going to mine it. Prove up and sell!
2nd Round of Drilling RNS should come next week.
Genuine question.
Has the estimated timescale been stated for when they plan to mine this project (after phase 3 has finished). Can't find anything.
Thanks.
A great share, can't believe the valuation is so low, although it's been nice building up a position. I am now happy for it to re-rate as I have got a rather lot in here now and need to try and stop myself from getting any more!!!!!
good bit of consolidation today, will move up when drill bit turns
Agree MediMan.. To me you roll the dice you takes your chance ..its not stressful for me investing as it only takes one
Ace to change a hand.... its reading all the negativity that puts a downer on a board...
Some do it cos they want in cheaper...some are holders in the red...which is mad why would you talk down your own investment...
Some clearly have nothing better to do...
You gotta take the rough with the smooth...
No doubt about it ...good time to get in the sector..... or top up to average down as not many are smashing it ATM
All the best and well done to Mila Holders....this is a GEM...
ATB
Totally agree bitcoin and both from a bb point of view and sp performance doesn't it all feel calmer here. I've pennies invested in the spikey stocks I appreciate the lack of stress here!
I think back to 6p on the cards...mineralised system.... Just how big...increased Jorc
Continuation through adjoining tenements....
Gonna be a great out come here....
Hold for gold....
ATB
I dont have an advfn account to comment but pap and count, if you read this thanks for your comments and content over there, great stuff.
Same on EST.
GLA
It will shape your investment, JDF7. Success in exploratory drilling is hitting the commodity you're after in 1 out of 20 cores. We're hitting gold in every hole. Hence, I have absolutely no doubt we'll continue having success. Share price may not always react to success from the drill bit - but that's out of managements control for various reasons. As long as they continue performing (hitting gold), which is all they can do, I have absolute faith that value will align.
Gone 4p bid inside 15 mins of you posting
starting to look good for a run back to 6p 200k buy just in at 3.99p these cheap shares won't last long
lptup, "no doubt"? I'd hazard a view that having some doubt about drill "success" and market reaction to even positive assays may be helpful shaping one's investment decisions here. Also, getting a view from management on credible "accelerator" options for the resource would be helpful (given how they have branded MILA as a company).
Hoping we see the drill bit turning by the end of next week. Will be good to get to see some new, deeper core pics in September. No doubt we'll continue to have success considering our geo team & targets.