Gold has been trending upwards over the past few months as rate hikes slow, but inflation still remains at an elevated level. With prices holding above $1900 USD/Oz and nearly hitting $2000 this morning, the macro environment is directly supporting the companies looking to bring gold assets to market.
https://www.bloomberg.com/news/articles/2023-01-31/gold-as-inflationary-hedge-makes-turkey-world-s-biggest-buyer
With KALO recovering from lows of $0.035 back in December to $0.135 now, life has returned to the company with the recently closed $2.35M raise.
- Some big names were also involved with the recent raise with Crescat Capital, Associate Investors, and Micheal Gentile’s foundation raised a majority of the $2.35M showing the institutional interest in KALO
- For those who aren’t familiar, KALO is a gold exploration company focusing on assets in Fiji along the ring of fire.
- Their flagship, the Vatu Aurum project, has already yielded some impressive results such as grades of up to 36 g/t Au and 645 g/t Ag with more results on the way because of the recent raise which will help support future exploration.
With the company all cashed up on their promising properties, definitely keep a close eye on them considering the current $16M valuation and the investors/management backing the company.