Mila Resources Plc (LSE:MILA) has made headway in preparing for its Phase 2 drilling campaign at the Yarrol Gold Project, following a successful capital raise in May 2025. A recent ground magnetic geophysical survey has identified new targets for gold mineralization, while a detailed review of historical data by RSC Mining and Mineral Exploration has optimized exploration planning. With land access agreements now in place and drilling set to begin shortly, the company aims to deliver its maiden Mineral Resource Estimate, strengthening its profile as a promising gold development opportunity.
The company continues to face financial pressures, including ongoing losses and cash burn. However, strategic initiatives in exploration and drilling at Yarrol provide potential upside. Technical indicators suggest positive short-term momentum, though valuation concerns persist due to negative earnings and the absence of a dividend.
About Mila Resources
Mila Resources Plc is a natural resources company focused on gold exploration. It specializes in accelerating post-discovery projects and is primarily advancing its flagship Yarrol Gold Project in Queensland, Australia.
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