If anyone is looking for reassurance that we have capable management, I am not sure you will find it by looking at our ceo's Mr Steven Cloutier other role as a independent director of Kallisto Energy Corp (KEC.V). It is at a all time low with a price of .05 cents or less than $5 million market cap.
Latest news from them: "Kallisto is targeting to spend $6,000,000 – $8,000,000 on these drilling opportunities in 2014. To complete the drilling program, Kallisto will use internally generated cash flow but will also require additional sources of capital. Such additional capital may come through farm-out agreements, disposition of non-core infrastructure assets, additional equity financing or through corporate transactions. Management is in discussions with various parties on all these options and will finalize its 2014 drilling program and capital budget and report back to shareholders when additional capital sources have been secured. Kallisto is a Calgary-based junior resource company engaged in the acquisition, exploration, development and production of oil and natural gas, primarily in Alberta.""
I certainly hope that there is no thought of Molopo being in discussions with this company.
MPO Price at posting:
17.5¢ Sentiment: None Disclosure: Held
