Skeena Resources Secures US$45 Million for Eskay Creek Development

Skeena Resources Limited announced it has received US$45 million under its gold stream funding arrangement. This financing supports pre-construction activities at the company's Eskay Creek Gold-Silver Project in British Columbia. The funding stems from a gold stream agreement established with the Province of British Columbia. Skeena aims to maintain momentum for the Eskay Creek development, targeting production commencement in 2027.

Randy Reichert, CEO of Skeena, highlighted the collaborative dialogue with the province, facilitating project plans and pre-development activities. The gold stream, spread over five tranches totaling US$200 million, promises further financial injections. Skeena retains an option to reduce its gold stream obligations, introducing flexibility to its future cash flows in a fluctuating market.

The early works program, initiated in June 2024, included substantial infrastructure projects such as road developments and groundwork for a substation. These enhance access and power supply for the site. Additionally, Skeena secured major equipment contracts, advancing procurement well within budget, as detailed in the 2023 Definitive Feasibility Study.