Mila Resources PLC (LSE:MILA) has secured 100% ownership of its three Queensland gold and copper project areas, giving it full control of the portfolio as it prepares for imminent drilling at Yarrol.
The company completed its option agreement with EMX Royalty Corp, covering Yarrol, Mount Steadman and Mount Weary, which encompasses the Monal Gold-Copper Project. Mila has also established an Australian subsidiary.
Under the agreement, Mila will issue EMX 7.1 million new shares worth £110,000 at 1.55p apiece, based on the 30-day volume-weighted average price to 30 October 2025. The shares will be locked up for 12 months and are expected to begin trading on 17 August.
Executive chairman Mark Stephenson said the transaction gives Mila “full ownership and control” of the portfolio. The company said it is assembling its next phase of work at Yarrol, where drilling is imminent, while regional exploration continues across its Queensland licences.
In London, Mila shares were up 18.6% to 1.25p.
