The UFS was updated to reflect the improved commodity prices, the silver stream financing arrangement with
UPDATED FEASIBILITY STUDY CONFIRMS SIGNIFICANT VALUE OF THE HORNE 5 PROJECT
The UFS reiterates that the Horne 5 Project represents a robust, high margin, 15-year underground mining project with attractive economics in the current gold price environment. At a gold price of
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Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable securities laws ('forward-looking statements'). Forward-looking statements are typically identified by words such as: 'believe', 'envisions', 'estimates', 'assumes', 'evaluates', 'inferred', 'probability', 'planned', 'projected', 'ensure' 'anticipates', 'contemplated', 'expected', 'anticipate' and similar expressions, or that events or conditions 'would', 'will', 'can', or may' occur. All statements that are not statements of historical fact are forward-looking statements.
Forward-looking statements in this press release include, without limitation, statements regarding the projections and assumptions of the Updated Feasibility Study, including, without limitation: NPV; IRR; CAPEX; OPEX; estimated cash costs and estimated AISC; mine life; payback period; LOM post-tax net cash flow; gross revenues; margins; exchange rates; inflation; recoveries; grades; processing rates; potential production from the Horne 5 Property as envisioned by the mine plan; economic assumptions and sensitivities and other operational and economic projections with respect to the Horne 5 Project as well as maintaining social acceptability for the Horne 5 Project and the timely obtaining, as the case may be, by Falco of all required licenses, rights of way and surface rights from third parties owner of infrastructures or rights necessary to perform the activities contemplated in this press release on terms and conditions acceptable to the Corporation. Mineral resource and mineral reserves estimates are also forward-looking statements because use such estimates involve estimates of mineralization that may be encountered in the future if a production decision is made, as well as estimates of future costs and values.
Although the Corporation believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Consequently, the Corporation cautions investors that any forward-looking statements by the Corporation are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements.
The forward-looking statements contained herein is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: the effects of general economic conditions; changing foreign exchange rates; risks associated with exploration and project development; the calculation of mineral resources and reserves; risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work arising from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Corporation's properties; risk of accidents, equipment breakdowns and labour disputes; access to project funding or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; title matters; government regulation; obtaining and receiving necessary licenses; the risk of environmental contamination or damage resulting from Falco's operations and other risks and uncertainties including those described in the Corporation's Annual Information Form dated
The forward-looking statements contained in this news release are based on the beliefs, estimates and opinions of Falco's management on the date the statements are made. Although Falco has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
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