Falco’s Quebec Polymetallic Project Value Triples as Environmental Review Nears End

Published: Jun 22, 2026 10:14

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[SMM Flash] Falco Resources (TSXV: FPC) announced an updated feasibility study on Wednesday for its Horne 5 polymetallic project in western Quebec, more than tripling the project's value. Discounted at 5%, the update drives Horne 5’s post-tax net present value (NPV) up by 244% to C$3.35 billion ($2.37 billion), with the internal rate of return (IRR) rising to 28%, while initial capital costs increased 62% to C$1.75 billion. Boosted by the surging valuation and the province's announcement that its environmental review is nearing completion (expected by fall 2026), Falco's shares jumped 17% to C$0.59 on Thursday morning. Over a 15-year mine life, the project—boasting 80.9 million tonnes of proven and probable reserves—is projected to produce 3.3 million oz. of gold, 27.2 million oz. of silver, 1.1 billion lb. of zinc, and 247.3 million lb. of copper, with an offtake agreement already in place with Glencore for the copper and zinc concentrates.

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