BMO Capital Markets has initiated coverage of
Falco Resources Ltd. (
TSX: V.FPC,
Forum) to highlight developments at the company’s flagship Horne 5 gold project in Quebec.
BMO has put an
“outperform” rating on the stock with a target of $1.90.
It said the move is designed to bring attention to an unrecognized developer fast-tracking 230,000 ounces per year of gold production toward a development decision.
“The 100%-owned Horne 5 project in Quebec will deliver a feasibility study in Q2 to define long mine life reserves and initiate the permitting process as well as pre-construction activities,’’ BMO said in its report.
Falco was in the news recently when it announced the
closing of a $36.5 million bought deal financing. Net proceeds were earmarked for continued exploration and development of the Horne 5 Project in Quebec as well as for working capital and general corporate purposes.
FULL DISCLOSURE: Falco Resources Ltd. is a paid client of Stockhouse Publishing.