Inca One Resources (IO.V) has announced it appointed George Moen as its Chief Operational Officer. This might seem a highly unusual choice as Moen does not have experience in the mining sector, but we’re confident he’ll be assisted by knowledgeable metallurgists, engineers and miners. And as Moen is the largest shareholder of the company, we can be sure he’ll have the shareholders’ interests in mind.
The company also announced it closed a debt financing, raising $275,000 with a 10% coupon, redeemable by the company at any time after three years. This will allow Inca One to build the company out in order to reach the positive cash flow-stage.
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Disclosure: The author holds a long position in Inca One Resources. Inca One is a sponsor of the website. Please see our disclaimer for current positions.
