Skeena Gold & Silver (TSX: SKE) last night managed to pass a major hurdle for it’s flagship Eskay Creek project, with the announcement by the Impact Assessment Agency of Canada that the project had been approved for development under the ‘one project, one review‘ process in British Columbia.
The approval effectively grants the project both provincial and federal approvals, with Skeena this morning confirming it has received its environmental assessment certificate for Eskay Creek.
“This is a defining moment in our Company’s history. I would like to thank the Government of British Columbia for its support of the Project and for prioritizing our application approval. I would also like to thank the Tahltan Nation for their partnership and collaboration over the last ten years. The issuance of the EAC reflects this collaboration and reinforces Eskay Creek’s position as setting the standard for responsible, world-class development in British Columbia,” commented Randy Reichert, CEO of Skeena, on the approval.
The Eskay Creek Project, found in northwestern British Columbia, is expected to produce 228,000 ounces of gold and 6.6 million ounces of silver annually over a 12 year life of mine at all in sustaining costs of just $300 an ounce net of silver credits. With the approval now in hand, Skeena is said to have the funding in place required to achieve production in 2027.
Skeena Gold & Silver last traded at $44.03 on the TSX.
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