Monday, October 6, 2025

Latest

Skeena Sees Barrick Exercise Warrants, Sell Out Of 12.9% Ownership Position Entirely

Barrick Gold (TSX: ABX) has apparently done a quick flip on shares of Skeena Resources (TSX: SKE). While Skeena this morning was busy announcing that Barrick had bought shares from the treasury, Barrick was announcing that it had sold those same shares, and more.

Skeena Resources has evidently seen Barrick Gold exercise 2.8 million warrants, generating the company gross proceeds of $30.4 million in the process. The warrants, which contained an exercise price of $10.80 per share, were originally issued in October 2020.

The company has indicated that funds from the exercise are to be used for a 60,000 metre drill campaign that will utilize a total of eight drill rigs this summer. Drilling is primarily focused on supplementing the current mine plan, as well as exploratory drilling of the 21A West Zone and the 23 Zone.

Barrick meanwhile this morning announced it has entered into a purchase and sale agreement with an investment dealer to sell 8.8 million common shares of Skeena. The shares are to be sold on a bought deal basis at $15.00 per common share. As a result, the company expects to see gross proceeds of $132.5 million from the offering.

The negative here for Skeena, is that Barrick is entirely selling out of its position – meaning the company has lost a major shareholder. Presently, the 8.8 million shares represent 12.9% of the issued and outstanding shares of Skeena, meaning volatility may be soon coming for the company.

The sale is said to be due to investment portfolio management purposes.

The loss of the major investor follows the news last month that the company does not have the mineral rights to historic material at its storage facility.

Skeena Resources last traded at $15.78 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.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Barrick Gold Sees Canaccord Lower Price Target On High CAPEX Spend

Last Friday Barrick Gold Corp. (TSX: ABX) had its investor day with sell-side analysts and...

Wednesday, November 23, 2022, 07:24:00 AM

The Golden Triangle: British Columbia’s Exploration Hotbed

In recent years mining investors have been hearing a lot about one of the world’s...

Sunday, July 19, 2020, 11:00:00 AM

Barrick Gold CEO Unveils Canadian Growth Strategy Amid Stock Rally

Barrick Gold Corporation (TSX: ABX) is increasing its focus on potential investments in Canada, aiming...

Tuesday, August 13, 2024, 10:25:37 AM

Skeena Resources Loses Rights To Historic Minerals At Storage Facility

If you’re a gold explorer or producer, always own the mineral rights underneath the land...

Tuesday, February 8, 2022, 08:21:42 AM

Skeena Resources Looks To Raise $30.9 Million Through Private Placement With Franco-Nevada

Skeena Resources (TSX: SKE) announced today its non-brokered private placement offering with Franco-Nevada Corporation (TSX:...

Monday, December 13, 2021, 09:36:00 AM