Oct. 2 at 2:11 PM
Skeena Resources Limited announced a C
$125 million secured financing to advance its Eskay Creek gold and silver project in British Columbia, causing shares to drop Thursday. The company will sell 5.21 million common shares at C
$24 each through a BMO Capital Markets-led syndicate, with an option for subscribers to purchase up to 15% more for overallotments within 30 days.
Proceeds will fund Eskay Creek development and general corporate purposes. While construction has continued in 2025, permitting faces delays due to a BC government employee strike. Negotiations with the Tahltan Central Government on an Impact Benefit Agreement are progressing, with ratification pending completion of talks.
“This financing offers flexibility for lower-cost alternatives compared to our unused senior secured credit line and represents roughly 4.5% dilution of total market capitalization,” said CEO Walter Coles.
$SKE