The Conversation (0)
MONTREAL, QC –(Marketwired – September 06, 2016) – Falco Resources Ltd. (TSXV:FPC) is pleased to announce that it has retained full ownership of the Horne 5 Project.
MONTREAL, QC –(Marketwired – September 06, 2016) – Falco Resources Ltd. (TSXV:FPC) is pleased to announce that it has retained full ownership of the Horne 5 Project.
“We are pleased to have confirmed the full ownership of the project, which is located in the prolific Rouyn-Noranda mining camp. We look forward to bringing this world-class deposit back into production after more than a 40 year dormant phase subsequent to having previously produced over 11 million ounces of gold and 2.5 billion pounds of copper,” said Sean Roosen, Falco’s Chair of the Board.
Luc Lessard, Falco’s President and CEO, commented: “We are excited about reaching this major milestone and look forward to aggressively pursuing the development of the project for all stakeholders.”
The previous owner of the project, Glencore Canada Corporation (“Glencore”) retained a back-in right when it sold the project in 2011.Glencore has elected not to exercise this back-in right. As a result, Glencore retains a 2% NSR on all metals produced from the Horne 5 Project.Glencore also has rights of first refusal with respect to purchase or toll process of the concentrates from the Horne 5 Project.
Connect with Falco Resources Ltd. (TSXV:FPC) to receive an Investor Presentation.