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29 Mar 2019 | 08:00

Mila Resources posts loss; continues search for reverse takeover suitor

Mining company investor Mila Resources posted an interim loss as it continued to work towards finding a reverse takeover target.

Pre-tax losses for the six months through December amounted to £105k, compared to losses of £125k on-year.

The company's shares had been suspended from trading ahead of a potential reverse takeover, while a due diligence process was conducted on a high-grade minerals sand project in Southern Asia.

'We recently mutually terminated a proposed reverse takeover of Capital Metals Limited, however we continue to see a strong flow of potential Acquisition opportunities,' the company said.

'The board of directors, together with the company's advisers, are constantly evaluating these opportunities to ensure that we secure and execute the right transaction.'

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