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 Limited (TSX:SKE, NYSE:SKE) announced the appointment of Scott Fulton as the new Vice President of Construction & Engineering. With over 15 years in mine development, Fulton previously held a senior role at NorZinc. CEO Randy Reichert emphasized the importance of Fulton's expertise for advancing the Eskay Creek Project.
Additionally, Freda Campbell, Director of Community Relations, received the 2023 Indigenous Trailblazer Award from Women in Mining Canada for her contributions to community engagement in mining.
Skeena’s Feasibility Study for Eskay Creek, released in September 2022, indicates a robust after-tax NPV5% of C$1.4B.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced a major milestone on January 17, 2023, by signing the Process Charter for the Eskay Creek gold-silver Project in British Columbia. This collaboration involves the Tahltan Central Government and the Government of BC, aiming for an efficient Environmental Assessment (EA) and permitting process. The EA Certificate is targeted for H2 2024, while final permits are anticipated in H1 2025. The federal approval for the BC Environmental Assessment Office to conduct a single assessment further streamlines this process. Skeena emphasizes its commitment to work with the Tahltan Nation for effective project approval.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced the departure of Chief Operating Officer Shane Williams, effective immediately. President & CEO Randy Reichert will temporarily take over the COO responsibilities. Additionally, Adrian Newton has been promoted to Vice President of Exploration, continuing to lead exploration programs in the Golden Triangle. The company is focused on the Eskay Creek gold-silver project, which has promising metrics including a 50% IRR and an after-tax NPV5% of C$1.4B from its September 2022 feasibility study.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced the completion of a royalty sale with Franco-Nevada Corporation, granting a 0.5% net smelter returns royalty on the Eskay Creek gold-silver Project. This transaction, valued at C$27 million upfront and C$1.5 million contingent, closes the previously established right of first refusal Franco-Nevada held. Funds from the sale will support exploration and development at Eskay Creek, which boasts a feasibility study projecting a C$1.4 billion NPV5% and a 50% IRR. The transaction was finalized on December 30, 2022.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) has announced promising drilling results from the 22 Zone at the Eskay Creek gold-silver Project in British Columbia. Notable finds include drill hole SK-22-1112, which intersected 1.86 g/t Au and 88.3 g/t Ag over 16.56 m, and SK-22-1113, averaging 1.83 g/t Au and 101.4 g/t Ag over 9.90 m. These mineralization zones are open for expansion, offering potential for further resource growth beyond the existing feasibility study limits.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) has announced new Rhyolite-hosted mineralization at its Eskay Creek gold-silver Project in British Columbia. The recent exploration drilling confirmed significant gold-silver intersections in the 23 Zone, including 0.92 g/t Au and 12.5 g/t Ag over 79.97 m. Further results are expected, which could enhance the project's future open-pit strip ratio. The company anticipates that this newly delineated mineralization will contribute positively to the upcoming Feasibility Study update planned for H2 2023.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced on November 22, 2022, that its appeal against the BC Chief Gold Commissioner's decision was dismissed by Justice Iyer of the British Columbia Supreme Court. Skeena plans to appeal this ruling. Importantly, this court decision does not impact the economics, resources, or reserves as detailed in the 2022 Feasibility Study for the Eskay Creek project. The feasibility study revealed an average grade of 4.00 g/t AuEq and an after-tax NPV5% of C$1.4B.
Skeena Resources Limited (TSX:SKE) announced the discovery of new Rhyolite-hosted mineralization near the 22 Zone at the Eskay Creek gold-silver Project. Drill hole SK-22-1054 revealed 1.79 g/t Au and 32.0 g/t Ag over 40.67 meters, located 200 meters east of the existing resources. This area, previously deemed non-prospective due to historical drilling limitations, shows potential for additional mineralization. The company plans further exploration in 2023 to evaluate this promising finding, indicating substantial untapped resources in proximity to known deposits.
Skeena Resources Limited has announced further drilling results from the 21A West Zone at its Eskay Creek gold-silver Project in British Columbia. Significant intersections include 7.73 g/t Au and 16.8 g/t Ag over 17.20 m in drill hole SK-22-1131. This area, previously deemed barren, shows promising high-grade mineralization. Additional results from SK-22-1103 also indicate valuable near-surface Rhyolite mineralization. The 21A West Zone is open for further expansion, indicating potential growth for the company.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) released its interim financial results for Q3 2022, reporting a Feasibility Study for the Eskay Creek project. Key highlights include an after-tax NPV5% of C$1.4B and an internal rate of return of 50% at a gold price of US$1,700/oz. The open-pit average grade stands at 4.00 g/t AuEq, with a projected 1-year payback. The company continues to explore drilling at the site, focusing on the revitalization of this past-producing gold-silver mine.
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