Northwire Canada EditionFriday, November 13, 2026
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Gold 3,885.70 +0.0% Silver 49.07 −2.0% Copper 6.09 −1.7% Oil 88.67 −0.1% Palladium 1,007.50 +1.6% BMR 0.165 +0.0% CLV 0.120 + VUL 0.360 −5.3% LUNR 15.21 −5.9% XTG 2.05 +2.5% RUA 1.09 −0.9% TUF 0.610 −1.6% NEXG 1.12 −1.8% ELEF 0.280 +0.0% LVG 0.330 −2.9% BBB 0.510 +2.0% NGC 0.055 −8.3% ABRA 10.61 −1.6% OBUL 0.340 −1.4% MKO 10.71 −1.0% SGML 7.28 +2.8% Gold 3,885.70 +0.0% Silver 49.07 −2.0% Copper 6.09 −1.7% Oil 88.67 −0.1% Palladium 1,007.50 +1.6% BMR 0.165 +0.0% CLV 0.120 + VUL 0.360 −5.3% LUNR 15.21 −5.9% XTG 2.05 +2.5% RUA 1.09 −0.9% TUF 0.610 −1.6% NEXG 1.12 −1.8% ELEF 0.280 +0.0% LVG 0.330 −2.9% BBB 0.510 +2.0% NGC 0.055 −8.3% ABRA 10.61 −1.6% OBUL 0.340 −1.4% MKO 10.71 −1.0% SGML 7.28 +2.8%
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KPMG Study Finds Falco's Horne 5 Project Is Projected to Contribute $8.8 Billion to Quebec GDP

KPMG study underscores Horne 5's massive economic footprint, but permitting and capital gaps remain.

By The Northwire Desk — AI Analysis Sep 29, 2026 · 07:00 FPC · 0.54 Falco Resources Ltd.
Executive Summary

KPMG LLP conducted a third-party Socioeconomic Impact Study for the Horne 5 Project, which is based on the updated feasibility study filed on July 27, 2026. The project is projected to contribute $8.8 billion to Quebec GDP over its lifespan and generate over 22,800 direct and indirect jobs in person-years. Approximately $5.1 billion in municipal, provincial, and federal tax revenues are expected, with 82% of value added accruing to the Abitibi-Témiscamingue region. Total project expenditures are estimated at $12.1 billion over 15 years.

Material Impact

Falco Resources Ltd. (FPC) released a routine follow-up to its June 2026 feasibility study, validating the project's economic case without introducing new metrics, cost changes, or permitting milestones. The market likely anticipated this socio-economic validation given the project's scale and government support. There is no material change to the investment thesis, and execution risks remain unchanged.

FPC · Price
Company Overview

Falco Resources Ltd. is advancing the Horne 5 Project, a polymetallic deposit containing gold, copper, zinc, and silver located beneath the former Horne mine in Rouyn-Noranda, Quebec. The project is projected to have a 15-year life of mine, targeting average annual gold production of 220,300 payable ounces.

Financial modeling at a base-case gold price of US$3,600/oz indicates an after-tax NPV5% of $3.35 billion and an internal rate of return (IRR) of 28.2%. The project anticipates an all-in sustaining cost (AISC) of US$782/oz, with total life-of-mine after-tax cash flow of $6.4 billion. Pre-production capital expenditures (CAPEX) are estimated at $1.75 billion.

Read the original news release →

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Falco’s Horne 5 project cleared environmental hurdles in Quebec, though a capital gap looms as debt matures in December.

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