RE:RE:GBB moneypit2008run wrote:
GBB would like to be an Osisko but can't match it's resources to move ahead like some competirors : Falco arranges $10-million loan from Osisko Royalties 2016-05-30 16:35 ET - News Release Shares issued 111,315,194 FPC Close 2016-05-30 C$ 0.87 Mr. Vincent Metcalfe reports FALCO ENTERS INTO $10 MILLION LOAN FINANCING WITH OSISKO GOLD ROYALTIES Falco Resources Ltd. has closed a financing with Osisko Gold Royalties Ltd., whereby Osisko will provide a $10-million loan. The loan will be used for the advancement of the Horne 5 project and for general corporate purposes. Luc Lessard, president and chief executive officer of Falco, commented: "We are very pleased to benefit from our partnership with Osisko. With this financing now completed, we will work aggressively to advance the development of the Horne 5 project. This is an important first step in completing the funding necessary to see the Horne 5 project realized." $10-million loan financing Under the terms of the financing, Osisko has provided Falco with a $10-million loan. The loan has an 18-month maturity, and interest shall be payable on the principal amount at a rate per year that is equal to 7 per cent, compounded quarterly, payable upon repayment of the principal amount. Silver and/or gold stream Over the next 18 months, Falco and Osisko shall negotiate, in good faith, the terms and conditions and form of a silver-and/or-gold-stream agreement, which shall be substantially in the form typical for such transaction in the industry, whereby Osisko may provide Falco with a portion of the development capital required to build the Horne 5 project. In this case, the principal amount of the loan and any accrued interest will be applied against the stream deposit. At the maturity date, if Falco and Osisko have not concluded a stream agreement, the principal amount of the loan will be converted into a 1-per-cent net smelter return royalty on the Horne 5 project and accrued interests will be paid in cash. Under certain events of default, Osisko may, at its option, require the repayment of the principal amount and the accrued interest in cash. Investor relations consultant The company also wishes to announce that it has retained the services of Renmark Financial Communications Inc. to assist in investor relations activities. In consideration of the services to be provided, the company has agreed to pay a monthly retainer of $5,000 to Renmark Financial Communications. Renmark Financial Communications does not have any interest, directly or indirectly, in Falco Resources or its securities, or any right or intent to acquire such an interest. We seek Safe Harbor.
Falco's
PROJECTED TIMELINE* 1. A Feasibility Study and Environmental Impact Assessment are scheduled for completion in the first semester of 2017.
2. Permitting activities would be initiated following the completion of the Feasibility Study and EIA to support a 2019 construction start.
3. Commissioning in late 2020.
4. Target full production in early 2021.
Good luck with that permitting lol
Read more at https://www.stockhouse.com/news/press-releases/2016/05/09/falco-announces-positive-preliminary-economic-assessment#4JjHHVFovD51beDF.99