Mila Resources (LON:MILA) Trading Down 8.3% – Time to Sell?

Mila Resources Plc (LON:MILA) was down 8.3% during trading on Tuesday . The company traded as low as GBX 1.16 ($0.02) and last traded at GBX 1.22 ($0.02). Approximately 21,955,404 shares changed hands during mid-day trading, an increase of 56% from the average daily volume of 14,047,153 shares. The stock had previously closed at GBX 1.33 ($0.02).

Mila Resources Trading Down 1.3%

The stock has a market capitalization of £7.25 million, a price-to-earnings ratio of -853.85 and a beta of 0.26. The company’s 50 day moving average is GBX 0.72 and its 200 day moving average is GBX 0.56.

Insider Activity at Mila Resources

In other news, insider Mark Stephenson bought 2,857,142 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were acquired at an average price of GBX 1 per share, for a total transaction of £28,571.42. Company insiders own 3.72% of the company’s stock.

Mila Resources Company Profile

Mila Resources (LSE: MILA) is an exploration company focused on advancing high-potential gold and copper mining projects across proven mining regions.
The Yarrol Project, the Company’s flagship asset located in Queenslan’s South-east Goldfields, comprises a 20km mineralised corridor with demonstrated potential for both gold and copper, with exploration campaigns currently underway to expand and define this high-priority target with mineralisation present along its strike.
Mila’s other prominent project, the Kathleen Valley Gold Project, is situated on the world-renowned Norseman-Wiluna Orogenic Belt, and is a multi-mineral endowed project providing Mila with exposure to both gold, copper, and additional lithium -bearing systems identified in the surround region.