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16 April 2026 07:30:58
- Source: Sharecast
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is considered to be in the public domain.
Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources
16 April 2026
Mila Resources Plc
('Mila' or the 'Company')
Fundraise of £600,000 with existing investors to advance the Queensland Portfolio
and Total Voting Rights
Following significant expressions of interest from existing and supportive shareholders, Mila Resources Plc (LSE: MILA), the post-discovery gold exploration accelerator, announces that it has raised gross proceeds of £600,000 through a Placing of 60,000,000 New Ordinary Shares of 0.1 pence each ("Placing Shares") at a placing price of 1 pence per Placing Share (the "Placing"). Investors in the Placing will also receive one warrant per Placing Share to subscribe for one new ordinary share at an exercise price of 1.5 per share which may be exercised from 1 December 2026 until the second anniversary of Admission ("Investor Warrant").
Use of Funds
The proceeds of this Placing will be used to extend drilling operations and advance key technical studies at Yarrol, to accelerate the Company's ability to publish a maiden resource estimate. Funds will also be used to build on the so far exciting early-stage exploration at Monal to define drill targets and provide additional general working capital.
Director Dealing
Mark Stephenson, Executive Chairman, has subscribed for 5,000,000 New Ordinary Shares in the Placing for gross consideration of £50,000. Following Admission, Mark Stephenson will hold 25,073,903 Ordinary Shares being 3.4% of the enlarged share capital on Admission.
Mark Stephenson, Executive Chairman of Mila commented:
"Yarrol is rapidly defining itself as a cornerstone asset within our Queensland portfolio, and our focus is firmly on unlocking its value at pace. The placing with aligned existing shareholders ensures we have the capital to accelerate Yarrol toward a meaningful resource, where we are seeing clear indications of scale and continuity. At the same time, we are advancing the broader opportunity set, including moving the Monal copper target to drill-ready status, building on the strong results we have delivered to date."
Admission and Total Voting Rights
An application has been made for the Placing Shares to be admitted to trading on the Official List and the London Stock Exchange with effect from 8.00 a.m. on 21 April 2026 ("Admission").
In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's enlarged issued ordinary share capital will comprise 737,560,922 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.
The Company has also issued 3,000,000 broker warrants that are exercisable at the Placing Price for a period of two years from Admission ("Broker Warrants").
**ENDS**
For more information visit www.milaresources.com or contact:
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Mark Stephenson Mila Resources Plc
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info@milaresources.com |
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Jonathan Evans Tavira Financial
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+44 (0) 20 7100 5100 |
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Nick Emerson SI Capital
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+44 (0) 20 3143 0600
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Simon Niven Shard Capital |
+44 (0) 20 7186 9950 |
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Susie Geliher St Brides Partners Limited |
+44 (0) 20 7236 1177 |
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Mark Stephenson
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2
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Reason for the notification
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a)
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Position/status
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Chairman |
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b)
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Mila Resources plc |
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b)
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LEI
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2138002NANE5WMOA7P09 |
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
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Description of the financial instrument, type of instrument |
Ordinary shares of £0.001 each |
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Identification code |
GB00BD4FCK53 |
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b)
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Nature of the transaction
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Purchase of shares |
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c) |
Price(s) and volume(s) |
Price 1 pence per share Volume - 5,000,000 |
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d)
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Aggregated information |
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- Aggregated volume |
NA Single Transaction |
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- Price |
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e)
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Date of the transaction
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16 April 2026 |
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f)
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Place of the transaction
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London Stock Exchange |
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