It appears that the decision of the BC Chief Gold Commissioner is all but final for Skeena Resources (TSX: SKE) as it relates to a decision handed down in February for materials at its Albino Waste Storage Facility. The company has seen its appeal to the British Columbia Supreme Court dismissed by Justice Iyer.
The appeal dismissal relates to a decision made by the BC Chief Gold Commissioner on a matter between Skeena Resources and an individual, Richard Mill. Mill managed to secure a mineral claim on lands underneath Skeena’s Albino Lake Storage Facility, and then in August 2021 applied to the Commissioner for a determination on who owns materials deposited into the facility by previous operators of the Eskay Creek Mine.
The materials in question consists of tailings and minerals containing sulfides and deleterious elements. The materials had come from the Eskay Creek Mine, and were subsequently managed by Skeena under a Lands Act surface lease as well as authorizations via the Mines Act and Environmental Management Act. The materials had previously been actively managed and environmentally monitored by Skeena and Barrick Gold, prior to Skeena taking ownership of the asset.
Sponsored · Selkirk Copper Mines
“We feel this sets a grave precedent for mineral exploration, development, and environmental liability management in British Columbia. Skeena will utilize all legal avenues to remedy this situation within the BC court system and we have already begun the appeal process,” said CEO Walter Coles at the time of the ruling in February 2022.
Skeena has indicated it intends to appeal the decision to dismiss its appeal on the matter.
As we said in February: “the lesson here appears to be simple – if you’re going to accept the environmental liability for historic materials, make sure you actually own the rights to them – and the mineral claims for where they’re situated.“
Skeena Resources last traded at $7.62 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
