Mila Resources has secured £600,000 through a placing of new shares, priced at 1p, to help fund exploration work in Australia.
Proceeds will be used first to extend drilling and advance technical studies at the Yarrol project to accelerate publication of a maiden resource estimate.
Remaining funds will be applied to advance early-stage exploration at Monal toward drill-ready targets and for general working capital, in that order.
"Yarrol is rapidly defining itself as a cornerstone asset within our Queensland portfolio, and our focus is firmly on unlocking its value at pace," Mark Stephenson said.
