London-listed Mila Resources completes takeover of three copper, gold prospects in Queensland
London-listed copper and gold developer Mila Resources has advised it is now the full owner of three exploration project areas in Queensland, Australia - Yarrol, Mount Steadman and Mount Weary.
This follows the exercise of an option agreement with EMX Royalty Corporation, which recently merged with Elemental Altus Royalties to form Elemental Royalty Corporation.
Together, the three projects form the Monal copper/gold project.
Mila will soon issue EMX, or Elemental, with about seven-million new ordinary shares worth £110000.
Mila chairperson Mark Stephenson says the completion of the option agreement marks an important milestone for Mila, providing the company with full ownership and control of a highly prospective portfolio of gold and copper exploration assets in Australia.
"We are busy pulling together our next phase of work at Yarrol with drilling imminent and our regional work continues to deliver further evidence of high-quality targets. We will be entering a highly active period in the coming months and look forward to sharing that with our shareholders," he states.
