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 an agreement to acquire QuestEx Gold & Copper Ltd. for approximately C$48.6 million, offering C$0.65 cash and 0.0367 Skeena shares per QuestEx share. This acquisition, coupled with a concurrent sale of certain QuestEx assets to Newmont Corporation for C$27 million, aims to enhance Skeena's land holdings in British Columbia's Golden Triangle by nearly sevenfold to 84,889 hectares. The deal mitigates shareholder dilution to less than 2% and is expected to close by June 2, 2022.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) has successfully raised approximately C$30.4 million through the exercise of 2,812,500 warrants held by Barrick Gold Corporation. The warrants were issued at an exercise price of C$10.80. The funds will support an extensive 60,000-meter exploration drilling program set for Eskay Creek in 2022, which aims to enhance the existing mine plan and explore new mineral zones. Skeena is focused on advancing the Eskay Creek site towards a full Feasibility Study.
Skeena Resources Limited (TSX:SKE) announced positive final drilling results from the 2021 exploration programs at the Eskay Creek gold-silver Project. Notable highlights include a high-grade find of 8.78 g/t Au and 13 g/t Ag over 34.00 m in drill hole SK-21-997, expanding the 21A Zone. The upcoming 2022 exploration program will involve 60,000 m of drilling to explore near-surface mineralization and deep Mudstone extensions. Additional mineralization found in drill hole SK-21-972 supports near mine targets.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced the appointment of Randy Reichert as President, effective April 2022. He will oversee all technical operations, including geology and engineering, reporting to CEO Walter Coles. With over 30 years in mining, Reichert brings valuable experience from his previous role at B2Gold Corp. and has been involved in significant projects like the Fekola Mine. Skeena is focused on revitalizing the Eskay Creek mine, having released a Prefeasibility Study in July 2021 showing an after-tax NPV5% of C$1.4B.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) has announced its intention to appeal a decision made by the Chief Gold Commissioner regarding the ownership of materials in the Albino Lake Storage Facility at the Eskay Creek project. The Commissioner ruled that individual Richard Mills owns these materials, which Skeena has managed for decades. Skeena's President, Walter Coles, argues this decision sets a dangerous precedent and intends to pursue legal action.
The company is focused on advancing the Eskay Creek project, which has a prefeasibility study indicating significant potential.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) has expanded the recently discovered 23 Zone at the Eskay Creek gold-silver project in British Columbia. Significant drill results include 1.97 g/t Au, 3 g/t Ag over 40.50 m and 0.58 g/t Au, 14 g/t Ag over 52.00 m. This new mineralization zone is positioned 200 m east of the high-grade 21A Zone. The ongoing exploration program aims to delineate near-surface resources, with 72 drill holes completed thus far, comprising about 37% of the 35,000 m budgeted drilling program.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced a significant discovery at its Eskay Creek gold-silver project in British Columbia, revealing a new zone of near-surface mineralization, referred to as the 23 Zone. Notable drilling results include:
- 0.99 g/t Au, 6.5 g/t Ag (1.08 g/t AuEq) over 90.00 m
- 1.30 g/t Au, 31.4 g/t Ag (1.72 g/t AuEq) over 43.39 m
- 2.14 g/t Au, 14.6 g/t Ag (2.33 g/t AuEq) over 59.91 m
The mineralization, discovered just 15 m below the surface, remains open for expansion and complements existing plans for throughput enhancement.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced on December 23, 2021, the successful closing of a non-brokered private placement offering with Franco-Nevada Corporation, raising C$30.9 million. The funds, generated from selling 1,471,739 flow-through common shares at C$21.00 per share, are earmarked for Canadian exploration expenses. Concurrently, Franco-Nevada received a right of first refusal over a 0.5% net smelter return royalty on the Eskay Creek project. The securities are subject to a four-month hold period.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced a non-brokered private placement of 1,471,739 flow-through common shares at C$21.00 each, generating approximately C$30.9 million in gross proceeds. Franco-Nevada Corporation will purchase these shares and has a right of first refusal on a 0.5% net smelter return royalty related to the Eskay Creek project. The proceeds will fund exploration at Eskay Creek, with closing expected by December 23, 2021, pending regulatory approvals.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced successful drilling results from the 2021 Phase II Albino Waste Facility (AWF) investigation at the Eskay Creek gold-silver project in British Columbia. The expansion program consisted of 212 m across 12 vertical drill holes, yielding impressive results: 5.90 g/t Au and 317 g/t Ag over 16.77 m (SK-21-899) among others. The newly discovered mineralization now spans an area of 350 m by 125 m. The Company is set to continue the drilling program in Q1 2022, pending safety conditions for ice thickness.
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