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Gold/Mining/Energy : Le coin des prospecteurs -- Ignore unavailable to you. Want to Upgrade?

To: immuha who wrote (27605)	3/20/2019 3:02:08 PM
From: jpthoma1	Respond to of 39145

Voici le commentaire de FBN concernant le départ de Sean Roosen du CA de FPC FPC (TSXV): C$0.33 Stock Rating: Sector Perform Target: C$0.50 Risk Rating: Speculative Changes in the Board Chair Impact: Negative This morning before market open, Falco announced that Mr. Sean Roosen has resigned as a director and Chair of the Board of Directors of the company effective immediately, and will continue to support the company as a special advisor. Mr. Roosen remains chair of the board and CEO of Osisko Gold Royalties Ltd. (OR:TSX; Outperform; $14.75 target price, Analyst: Nagle), the largest shareholder of Falco with ~20.4% of shares outstanding. Mr. Bryan Coates, a current member of the board of directors, and President of Osisko Gold Royalties, will take over the chair position on the board of Falco. We base our target price on a 0.75x NAV multiple, while the stock is currently trading at 0.54x our NAV estimate, in line with gold developer peers at 0.52x. Our Sector Perform rating is based on our view that the project will be challenged to advance further without an operating agreement with Glencore Canada, a process which has not been progressing as planned.