Skeena Resources Completes $7 Million Financing

Skeena Resources (TSX: SKE) announced on Friday that it has closed its previously announced non-brokered private placement offering. The proceeds from the offering are reported to be approximately $7 million as the company stated in its prior announcement.

Through the offering, the mining firm issued 346,364 flow-through shares at $20.21 per share. Net proceeds are intended to be used on funding exploration activities on its projects in the golden triangle of British Columbia.

The financing saw Ausenco Engineering Canada Inc. as a new investor in the company, taking wholly the fully subscribed offering.

One of the firm’s projects in the so-called golden triangle is revitalizing the past-producing Eskay Creek gold-silver mine. A pre-feasibility study on the property released in July 2021 reported an after-tax NPV5% of $1.4 billion and a 56% IRR at base case gold price of US$1,550 per ounce.

Skeena Resources last traded at $12.98 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.

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