Skeena Resources Limited Stock Price, News & Analysis

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.

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.