Kalo Gold (TSXV: KALO) has made some management changes ahead of its Q2 MD&A which was released yesterday.
The company has appointed Fred Tejada as Executive VP, Expiration, and Kevin Ma as Executive VP, Capital markets. Both individuals hold decades of experience and are seasoned mining entrepreneurs.
Kalo’s MD&A was not extraordinary, as you might expect for an early phase exploration company. As of February 28, 2022, the company has netted a loss of CA$1,583,639, equating to an LPS of $.03. However, Kalo is currently awaiting assay results from the second phase of drilling at its Vatu Aurum project. Additionally, the company raised $2M in gross proceeds in January, meaning they should still have cash on hand to continue operations.
The Vatu Aurum project is located in Fiji’s “Ring of Fire” where numerous giant gold mines have been found including the Vatukoula alkaline gold system where production exceeds 7M ounces. Assay results from Vatu could really turn things around given the highly prospective nature of the region, so keep an eye out for updates. The current price could prove to be a bargain.
$KALO.v is currently trading at $.15 and is valued at $11.15M.
https://www.wsj.com/market-data/quotes/CA/XTSX/KALO/financials/annual/cash-flow