Skeena Resources Limited Stock Price, News & Analysis

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) held its Annual General Meeting of Shareholders on June 22, 2022, in Vancouver, BC, where all motions were approved. Notably, all five directors were re-elected, including Walter Coles, Jr., who received 99.69% of votes. A total of 40,155,295 shares were voted, representing 58.44% of outstanding shares. Grant Thornton LLP was reappointed as the company’s auditor. Skeena continues to focus on the Eskay Creek gold-silver mine, planning to progress towards a full Feasibility Study in 2022, following a promising Prefeasibility Study released in July 2021.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced a historic decision-making agreement with the Province of British Columbia and the Tahltan Central Government for the Eskay Creek gold-silver project. This agreement marks the first mining project to receive permits authorized by an Indigenous Government, enhancing the rights of the Tahltan Nation. It establishes a new environmental assessment framework that respects Indigenous values, promoting sustainable mining practices. The agreement aims to bolster the revitalization of the Eskay Creek mine, providing legal consent from the Tahltan Nation.

Skeena Resources Limited (TSX:SKE)(NYSE:SKE) announced the completion of its acquisition of QuestEx Gold & Copper Ltd. through a plan of arrangement, valued at approximately C$18.7 million. QuestEx shareholders received C$0.65 and 0.0367 of a Skeena share per share. Additionally, Skeena sold certain QuestEx properties to Newmont Corporation for about C$27 million, fully funding the acquisition. This strategic move expands Skeena's land position in the Golden Triangle and enhances exploration potential at its KSP and Kingpin projects.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced its interim financial results for Q1 2022, revealing significant progress in its operations. The company is advancing the Eskay Creek project, which features an estimated after-tax NPV of C$1.4B and an IRR of 56%. Infill and exploratory drilling are ongoing to complete a full feasibility study by year-end. Skeena aims to revitalize the historic gold-silver mine in British Columbia, with a prefeasibility study indicating an impressive open-pit average grade of 4.57 g/t AuEq.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced its fourth quarter and annual financial results for 2021. The Prefeasibility Study for the Eskay Creek gold-silver mine in British Columbia revealed an average open-pit grade of 4.57 g/t AuEq, an after-tax NPV of C$1.4 billion, a 56% IRR, and a payback period of 1.4 years at US$1,550/oz gold. Ongoing drilling aims to complete a full Feasibility Study in 2022, indicating continued progress in advancing the project.

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced on March 29, 2022, its agreement to acquire QuestEx Gold & Copper Ltd.. Skeena will pay $0.65 in cash and issue 0.0367 Skeena shares for each Common Share of QuestEx, valuing the acquisition at approximately $1.20 per share. Skeena currently owns 14% of QuestEx and aims to enhance its land position in British Columbia's Golden Triangle. Following the arrangement, QuestEx will become a wholly-owned subsidiary of Skeena, ceasing to be a reporting issuer in Canada. Skeena will also sell certain properties to Newmont as part of this arrangement.

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.