Skeena Resources (TSX: SKE) has seen a decision made by the Chief Gold Commissioner and the Supreme Court of British Columbia overturned in its favor related to waste rock and tailings situated at the Albino Lake Storage Facility.
The decision relates to a 2021 case wherein the Commissioner determined that Richard Mills, an unrelated individual whom holds a mineral claim on lands underneath Skeena’s storage facility, asked the Commissioner for clarity on who owns materials deposited into the facility by previous operators of the Eskay Creek Mine.
Mills contested that he was the owner of the material, given his mineral claim to the property. Skeena however had been responsible for the environmental obligations related to the material, and the materials were managed by the company under a Lands Act surface lease.
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READ: Skeena Loses Appeal Over BC Chief Gold Commissioner Decision At Albino Waste Storage Facility
The materials, consisting of tailings and minerals containing sulfides and deleterious elements, had previously been actively managed and environmentally monitored by Skeena and Barrick Gold, prior to Skeena taking ownership of the asset.
The court of appeal however has now concluded that Skeena did not relinquish its rights to the material, and that the Commissioner was “clearly and palpably wrong” in his decision on the matter. The court also determined that the province when granting the claim did not hold the rights to the material at the time of issuing the mineral claim, thereby removing their ability to grant ownership over the material.
The Chief Gold Commissioner will now again decide Skeena’s contention that it owns the material.
Skeena Resources last traded at $8.01 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.
