Exciting Falco announcement! Recall that Falco has been working with Glencore for over 2 years to advance its flagship Horne 5 Project, located in Rouyn-Noranda, Québec.
Key elements of Falco's announcement include:
A $10 million 7% senior secured convertible debenture financing to fund the continued advancement of the Horne 5 Project, including the Work Plan;
Offtake agreements, under which Glencore will purchase from Falco the produced copper and zinc concentrate during the life of mine of the Horne 5 Project, currently estimated at 15 years;
Falco and Glencore have agreed to a detailed Work Plan, to be managed by Falco, which includes additional technical work, modelling and studies, all with the goal of working towards a Principal Operating License and Indemnity Agreement.
Full details of the announcement can be found in the press release.
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