Business
Replacement: Final Results
Replacement: Final Results.
About this update from Mila Resources Plc
[{"type":"text","content":"\n\nThe following amendment has been made to the Final Results announcement released on 31 October 2023 at 2:00 p.m. under RNS No 9036R.\n \nThe Independent Auditors' Report has been included.\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \nMila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources\n \n31 October 2023\nMila Resources Plc\n('Mila' or the 'Company')\n \nFinal Results:\nAudited Accounts for the Year Ended 30 June 2023\n \nMila Resources Plc (LSE:MILA), the post-discovery gold exploration accelerator, is pleased to announce its final results for the year ended 30 June 2023.\nHighlights\n· Significant progress towards achieving strategy of becoming a post discovery exploration accelerator\n· Advanced the geological model for gold at the Company's first asset, the Kathleen Valley Project\n· Entered into JV arrangement with leading ASX lithium company, Liontown Resources, to begin exploration of lithium at Kathleen Valley Project\n· Raised gross proceeds of £2m post year end to support work at Kathleen Valley and assess additional development opportunities\n· Bolstered technical team post year end with appointment of Alastair Goodship, an exploration geologist with significant experience in leading discovery-focussed exploration teams in a diverse range of environments and jurisdictions globally\n· Cash position of £448,063 as at 30 June 2023\n· Loss for the financial year ended 30 June 2023 of £549,487 (2022: £1,011,445).\n\nTo view the audited report and accounts document, click here: https://rb.gy/sshum.\nStatement from the Board\nDear Shareholder\nWe have made solid progress this year both on a corporate and asset level. Since the financial year end, we have entered into an exciting partnership with Australia's leading lithium company, Liontown Resources, who will explore for lithium targets on our acreage and (subject to shareholder approval on the 8th of November), we will then complete the £2m fund raise (before expenses) which will provide the Company with a robust balance sheet. Our strategy is to build value from both the gold and lithium at our Kathleen Valley Project in Western Australia (t...