The exploration camp at the Eskay Creek gold project. Credit: Skeena Resources.
Skeena Gold & Silver (TSX, NYSE: SKE) will raise C$125 million ($90 million) for the development of its Eskay Creek project in British Columbia, for which it is advancing permitting and targeting first production in 2027.
In a press release this week, the company announced that a syndicate of underwriters led by BMO Capital Markets will purchase on a bought-deal basis 5.21 million of its shares at C$24 each, with the option to buy an additional 15% of the offering.
Shares of Skeena fell from C$26 to the current C$24 level after the financing announcement. On Friday, the stock opened 0.4% higher at C$24.25 with a market capitalization of C$2.8 billion ($2 billion).
This offering, together with the company’s other sources of funding, should ensure sufficient liquidity to complete permitting, Skeena said, adding that it…
