Welcome to our dedicated page for Skeena Resources news (Ticker: SKE), a resource for investors and traders seeking the latest updates and insights on Skeena Resources stock.
Skeena Resources Limited (SKE) is a junior Canadian mining exploration company dedicated to the discovery and development of prospective base and precious metal properties in the Golden Triangle region of northern British Columbia, Canada. The company focuses primarily on the evaluation and development of the Eskay Creek and Snip projects, both of which are past-producing mines.
Skeena's flagship project, Eskay Creek, acquired from Barrick Gold, is undergoing extensive exploration and development activities. The company recently released a Definitive Feasibility Study (DFS) for Eskay Creek in November 2023, which highlights an after-tax NPV5% of C$2.0 billion, 43% IRR, and a 1.2-year payback at gold and silver prices of US$1,800/oz and US$23/oz, respectively. The DFS indicates robust project economics, supporting the potential for Eskay Creek to become a Tier 1 gold mining operation.
Besides Eskay Creek, Skeena is also advancing the Snip Project, another past-producing gold mine. The company is committed to sustainable development, maintaining strong relationships with First Nations, neighboring communities, and other stakeholders. Skeena prioritizes environmental, health, safety, and social responsibilities in all its operations.
Recently, Skeena successfully closed a C$81 million financing package with Franco-Nevada Corporation, which includes the sale of a 1.0% Net Smelter Return (NSR) royalty on Eskay Creek and a C$25 million unsecured convertible debenture. This strategic financing aims to further advance the Eskay Creek project towards production.
Furthermore, Skeena continues to make significant strides in its exploration programs. The 2023 drilling results at Eskay Creek revealed high-grade gold-silver mineralization, which, although not expected to materially affect existing open-pit resources and reserves, underscores the potential for further discoveries. The company has also outlined ambitious plans for 2024, including a seismic survey and additional exploratory drilling to refine the understanding of the Eskay Creek rift model.
Skeena Resources' commitment to ESG (Environmental, Social, and Governance) principles is evident in its 2023 report, showcasing significant contributions across economic, environmental, social, and governance areas. The company’s proactive approach in these areas is designed to create value for shareholders, stakeholders, and First Nation partners.
Recent News Highlights:
- November 14, 2023: Skeena announces results of the Definitive Feasibility Study for Eskay Creek.
- December 18, 2023: Skeena secures C$81 million financing package with Franco-Nevada Corporation.
- December 22, 2023: Filing of the detailed Technical Report for the Updated Feasibility Study on Eskay Creek.
- February 8, 2024: Skeena reports results from the 2023 exploration drilling program.
- April 1, 2024: Skeena releases fourth-quarter and annual financial results for the year ending December 31, 2023.
Skeena Resources (TSX/NYSE:SKE) has received approval from British Columbia's Ministry of Mining for a 10,000-tonne bulk technical sample at its Eskay Creek Gold-Silver Project. This approval is important as it's a prerequisite for accessing the remaining US$195 million from a US$200 million gold stream funding agreement with Orion Resource Partners.
The company has also initiated the 180-day legislated application review process under BC's Environmental Assessment Act, following their August 2024 submission. The project represents a milestone in sustainable mining, being the first to have its Environmental Assessment Certificate authorized by a First Nations Government under the Declaration on the Rights of Indigenous Peoples Act (DRIPA).
Skeena is actively conducting public consultations, including in-person and virtual sessions across Tahltan territory and regional communities, with final Environmental Assessment submission planned for late Q1 2025.
Skeena Gold & Silver (TSX:SKE)(NYSE:SKE) announced its Q3 2024 financial results for the period ending September 30, 2024. The interim financial statements and MD&A are accessible on the company's website, SEDAR+, and EDGAR. Key highlights include a focus on exploration and development activities, with specific progress in the Eskay Creek project. The company highlighted its operational advancements and financial health, though specific financial figures were not disclosed in the press release.
Skeena Resources (TSX:SKE)(NYSE:SKE) has released its Q2 2024 financial results and provided a corporate update. The company announced key management appointments to strengthen its leadership team:
Galina Meleger as Vice President Investor Relations, bringing nearly 20 years of mining sector experience.
Kyle Foster as Vice President Operations, an international mining professional with over 15 years of experience in operations and project management.
Eric Casey as Vice President Finance, a Chartered Professional Accountant with experience in closing capital and financing packages exceeding $1.4 billion.
The interim financial statements and MD&A are available on Skeena's website and have been posted on SEDAR+ and EDGAR.
Skeena Resources (TSX:SKE, NYSE:SKE) announced a victory in the British Columbia Court of Appeal regarding the Eskay Creek Mine waste rock and tailings in the Albino Lake Storage Facility. The Court overturned previous decisions by the Chief Gold Commissioner and the British Columbia Supreme Court, which had ruled in favor of Richard Mill and Orogenic Gold Corp. The Court of Appeal found that Skeena had not relinquished its rights to the Eskay Creek Material and that the original ruling was incorrect. The case is now referred back to the current Chief Gold Commissioner for reconsideration. The decision is seen as a significant win for Skeena, although the Eskay Creek Material is not part of the company's current Resource or Reserve Statements.
Skeena Resources (TSX:SKE)(NYSE:SKE) announced a significant financing package worth US$750 million (over C$1 billion) from Orion Resource Partners for the development of its Eskay Creek Gold-Silver Project. This funding aims to enhance the strategic direction of the company. The announcement follows a news release dated June 25, 2024. Skeena is hosting a webcast today, June 26, 2024, to provide detailed insights into this development. Key company executives, including Executive Chairman Walter Coles, President & CEO Randy Reichert, and CFO Andrew MacRitchie, will discuss the strategic rationale behind the financing deal and its impact on the project's future. The webcast will commence at 2:30pm Eastern (EDT) / 11:30am Pacific (PDT), accessible via the provided link.
Skeena Resources has secured a US$750 million financing package from Orion Resource Partners to advance its Eskay Creek Gold-Silver Project. The funding includes a US$100 million equity investment, US$200 million gold stream, US$350 million senior secured loan, and US$100 million cost over-run facility. This financing is structured to provide flexibility and certainty, allowing the project to proceed efficiently towards production, targeted for H1 2027. The package exceeds the project's estimated capital expenditures of US$528 million. Key timelines include finalizing permits by end-2025, starting full-scale construction in 2026, and commencing production in 2027. The investment aims to deliver significant economic benefits to the local community, including potential contracts worth C$700 million to Tahltan businesses and creating over 800 direct jobs.
Skeena Resources announced the results of its Annual General Meeting (AGM) held on June 17, 2024, in Vancouver, BC. Shareholders overwhelmingly approved the re-election of all Directors and the reappointment of KPMG LLP as the company's auditor, with over 99% voting in favor. The Shareholder Rights Plan adopted in November 2023 expired on May 14, 2024, without needing further approval. The AGM saw a substantial turnout, with 64,349,256 shares voted, accounting for 70.9% of the common shares issued and outstanding. Detailed voting results for each director showed significant support, with Walter Coles receiving 99.8% approval, among others.
Skeena Resources (TSX:SKE)(NYSE:SKE) reported its Q1 2024 financial results and released its ESG report for the 2023 calendar year. The company's interim financial statements and MD&A are accessible on its website. Skeena showcased positive contributions across economic, environmental, social, and governance aspects, aiming to create value for shareholders and partners.
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