Mila Resources admitted to trading in London

Natural resources sector-focused company Mila Resources announced the admission of its entire issued share capital to trading on the Official List of the London Stock Exchange on Friday.

The listing followed the placing of 21 million ordinary shares at a price of 5p per share, to raise £1.05m before costs, giving the company a market capitalisation of approximately £1.16m on admission.

“Mila Resources is aiming to capitalise on the current economic environment to acquire projects in the natural resources sector, which the board believes have significant innate value that can be unlocked with minimal capital injection,” the company said in a statement.

Its board and advisory committee has a proven track record and extensive collective experience in the natural resources sector, it claimed, particularly in asset evaluation, mine development and financing and creating shareholder value.

“Their experience within major mining and finance houses as well as junior mining companies, provides an ideal blend of knowledge and expertise with which to implement the company's business model.”