IN BRIEF: Mila Resources becomes owner of three Queensland projects
Mila Resources PLC - gold exploration firm focused on Australia - Says it has completed the exercise of its option agreement with EMX Royalty Corp, following Australian compliance and regulatory approvals. It announced in October that it would exercise its option with EMX to acquire 100% interests in exploration licences at the Yarrol, Mount Steadman and Mount Weary projects. Mila is now the 100% owner of all three projects, it announces on Wednesday. Says that in accordance with the option agreement, it will issue EMX with 7.1 million new shares, worth GBP110,000, valued by reference to the 1.55 pence volume-weighted average price of its listed shares during the 30 consecutive trading days ended October 30. The option fee shares are subject to a 12-month lock-up from the date of admission to trading. Mila expects these shares to be admitted to trading in London with effect from the market open on August 17. Read More