RNS7 Jul 2025 10:32
Mila Resources Plc (LSE:MILA), the post-discovery gold exploration accelerator, is pleased to announce the following updates:
General Meeting Results
The Company confirms that both resolutions put to shareholders at this morning's General Meeting (the "GM") were duly passed.
Issue of Equity
Accordingly, the Company announces that application has been made for 110,870,533 New Ordinary Shares of 0.1p ("New Ordinary Shares") in relation to the placing of 108,013,391 and subscription of 2,857,142 by Mark Stephenson, a director or the Company. The Company raised gross proceeds of £776,000 from the placing and subscription to fully fund the next phase of exploration.
The Company has applied for the New Ordinary Shares to be admitted to trading on the Equity Shares (Transition) category of the Official List and the main market of the London Stock Exchange ("Admission"). It is expected that Admission will come effective and that dealings in the New Ordinary Shares will commence from 8.00 a.m. on 8 July 2025.
Yarrol Work Programme H2 2025 & Launch of work at Monal and Mt Steadman
The Company is now fully funded to undertake a comprehensive exploration programme that will be underpinned by both infill and step out drilling along the Yarrol fault to drive the Company towards building its maiden JORC Compliant Mineral Resource Estimate. Also, the Company is delighted to commence work on the Monal and Mt Steadman licences.