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Kalo Gold Holdings ( (TSE:KALO) ) just unveiled an announcement.
Kalo Gold Corp. has announced an increase in its non-brokered private placement from $2 million to $4.52 million due to significant market demand. The funds will be used for a diamond drilling program at the Vatu Aurum Project in Fiji, focusing on the Namalau Trend and other targets, as well as for general working capital and marketing purposes. This expansion could enhance Kalo Gold’s exploration capabilities and potentially strengthen its position in the gold exploration industry.
Spark’s Take on TSE:KALO Stock
According to Spark, TipRanks’ AI Analyst, TSE:KALO is a Neutral.
Kalo Gold Holdings faces substantial financial obstacles, primarily due to lack of revenue and negative cash flows, which significantly weigh down its score. However, promising corporate developments in exploration projects present potential upside. The technical analysis indicates short-term stability, but the valuation remains problematic due to unprofitability. Overall, the company’s future heavily relies on successful exploration outcomes.
To see Spark’s full report on TSE:KALO stock, click here.
More about Kalo Gold Holdings
Kalo Gold Corp. is a gold exploration company focused on epithermal gold deposits at its Vatu Aurum Project on Vanua Levu, North Island. The company holds 100% of two Special Prospecting Licenses covering 367 km², which include a regional back-arc basin with volcanic calderas. Historical and ongoing exploration has identified numerous priority epithermal gold targets.
YTD Price Performance: 37.50%
Average Trading Volume: 115,052
Technical Sentiment Signal: Sell
Current Market Cap: C$10.57M
See more data about KALO stock on TipRanks’ Stock Analysis page.