The Globe and Mail reports in its Wednesday edition that Raymond
James analyst Tara Hassan says Falco Resources' Horne 5
project in Rouyn-Noranda, Que.,
is "to be advanced to production
or be attractive as a potential
acquisition target given the rarity
of large scale, long life, and low
cost projects in safe jurisdictions." The Globe's David Leeder writes in the Eye On Equities column that Ms. Hassan rates Falco "outperform" in new coverage. She set a share
target of $2, nine cents above the consensus. Falco owns the entire interest in the project, previously mined by Noranda. Ms. Hassan says in a note: "The project's proximity to a mining centre eliminates many of the challenges that can face a development project as Horne 5 is easily accessible, has power and water to site, proximity to equipment suppliers, and access to a highly skilled labour pool. With the project being located on a brownfield site and in an active industrial area, permitting risks are perceived to be low, particularly given that the bulk of the tailings will be placed underground as paste fill or at other past producing operations on its claims. ... It is in talks to acquire a brownfield site that it could expand for its needs."
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