MILA - Investment Case6 Dec 2021 15:56
Investment case
• Applying a proven exploration model to a known gold discovery
• Licence is contiguous to Bellevue Gold – one of Australia’s most successful exploration plays
• World-class province for mining investment – recognised Tier One mining jurisdiction
• Optionality over development route – low capex production options with no requirement to build plant necessarily
• First drill programme of 11,000m during 2021/H1 2022 – intended to provide a pipeline of high impact news flow
• Kathleen Valley provides the Company with a footprint in one of the world’s most productive gold regions where Mila intends to become a significant post-discovery exploration accelerator delivering high value accretive development opportunities to investors
• Kathleen Valley is surrounded by tier 1 gold companies
• Wiluna-Norseman belt hosts a >40Moz gold inventory
• Bellevue Gold has achieved notable exploration success along strike and in adjacent block
• Bellevue Gold is advancing exploration with A$35m exploration budget across 18 months to Dec 2021, including exploration drilling at Government Well prospect
• Maiden gold discovery 2019 at Kathleen Valley – next door and along strike from Bellevue Gold discoveries
• Bellevue Gold recently hit 17m at 4.2g/t gold along the perimeter
• ‘Tip of the iceberg’: initial 21,000 oz gold JORC Inferred resource defined and 145-280koz gold JORC Exploration Target from only 2,160m RC drilling to date
• Wiluna-Norseman gold belt among the most prolific gold regions in Australia
• Abundance of commercial development routes in vicinity – no requirement to build plant
• Independent valuation of £15,000,000 as per CPR and valuation letter
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