Mila Resources PLC (LSE:MILA) said it will be in the “most solid position" since it listed in 2021 if shareholders vote in favour of the £2 million fundraise on 8 November.
“We have a clear strategy and are well capitalised to deliver the strategy to fruition,” said Mark Stephenson, executive chairman.
“We expect the next 12 months to be highly active on both a corporate and asset level as we continue to assess business development opportunities and how to deliver value from both the gold and lithium at our projects,” he added.
Mila currently is exploring for gold in Kathleen Valley, Australia, where it has also signed a joint venture with Liontown, which will explore for lithium at the licence.
Cash at the end of June was £448,000 with Mila's losses for the 12 months to end June 2023 amounting to £549,000 (£1 million).