Falco Pacific (FPC.V) has announced it has appointed Trent Mell as President and CEO of the company, replacing Kelly Klatik who was the previous CEO. Mell seems to be very experienced as he has held several senior roles at Barrick Gold, Placer Dome and most recently was Vice President of AuRico Gold (AUQ.TO, NYSE:AUQ) where he oversaw the construction and ramp up of the company’s new Young-Davidson mine in Ontario. Additionally, Dean Linden was appointed to Senior Vice President of Business Development.
2014 should be a very interesting year for Falco Pacific as it will continue to explore on its extensive land package where 14 past-producing mines are located. After releasing a maiden resource estimate earlier this year, Falco Pacific popped up on several radar screens, and the company seems to be the textbook-example of reopening old mining districts with modern exploration techniques. Re-assaying of historical drill holes have revealed 11 nearby high-grade gold zones in the direct proximity of the Horne 5 mine. As Noranda was basically looking for base metals, it didn’t care at all about the gold, and that’s why these 11 targets could add a lot of value to the Falco Pacific story.
Additionally, QMX Gold (QMX.V) has announced it is planning to sell its entire stake in Falco Pacific to a privately held Ontario-incorporated company. The identity of the principals behind this private company are currently unknown, but we expect more clarity when the deal will have been finalized.
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Disclosure: The author holds a long position in Falco Pacific Group. Please see our disclaimer for current positions.
