Skeena Gold + Silver
Primary ticker: TSX:SKE, NYSE:SKE, FRA:RXF
Stage of development: Development
Primary minerals: Gold, Silver
Project to promote: Eskay Creek Gold-Silver Project
Project location: Golden Triangle, British Columbia, Canada
Website: skeenaresources.com
Skeena is a leading precious metals developer that is focused on advancing the Eskay Creek Gold-Silver Project – a past producing mine located in the renowned Golden Triangle in British Columbia, Canada. Eskay Creek represents one of the highest-grade and lowest cost open-pit precious metals mines in the world, with substantial silver by-product production that surpasses many primary silver mines. The mine is targeting initial annual production of 450,000 ounces of gold equivalent metal in the first five years and has an expected 12 year mine life. Skeena is committed to sustainable mining practices and maximizing the potential of its mineral resources. In partnership with the Tahltan First Nation, Skeena strives to foster positive relationships with Indigenous communities while delivering long-term value and sustainable growth for its stakeholders.
Cash: ~CAD$85M (as of 09.30.24)
Debt: NIL
Major shareholders:
Helikon Investments – 10.1%
Deutsche Balaton – 9.5%
BlackRock – 6.9%
Orion Resource Partners – 6.8%
Tidal Investments – 3.9%
Management ownership ~5% Diluted
Financials
Management Profile
Galina Meleger – Vice President, Investor Relations
Mrs. Meleger brings nearly 20 years of extensive experience in the mining and resource sector in increasing senior capacities. Most recently, she held the role of Vice President Investor Relations with Endeavour Silver Corp and her prior experience included roles with Kirkland Lake Gold, Newmarket Gold, KGHM, and Copper Mountain Mining Corp. Mrs. Meleger is a past recipient of the Canadian Investor Relations Institute (“CIRI”) Belle Mulligan Award for Leadership in Investor Relations, along with other awards and recognition within the industry. Mrs. Meleger studied at the British Columbia Institute of Technology (“BCIT”), completing a Business Diploma in Financial Management, is a licensed Corporate Social Responsibility Practitioner and holds a Canadian Investment Manager (“CIM”) designation.
What is your rationale for taking part in 121 Mining Investment?
To raise investor awareness of Skeena’s well-funded, high-grade Eskay Creek Gold-Silver project and provide updates as we advance construction.
What recent news would you like to highlight to investors attending?
January 31, 2025 – Skeena Gold & Silver Announces Rebrand to Reflect Significant Silver Component at the Eskay Creek Project
January 6, 2025 – Skeena Gold & Silver Draws US$45 Million of Funding Under Gold Stream Agreement; Provides Progress Update on Eskay Creek
December 16, 2024 – Skeena Gold & Silver Receives Approval for Bulk Technical Sample at Eskay Creek and Provides Update on Other Regulatory Activities
June 25, 2024 – Skeena Resources Secures US$750 Million Project Financing Package
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Continue with timely permitting at Eskay Creek – submit revised Environmental Assessment application.
6 Months:
Continue with timely permitting at Eskay Creek.
Finalize Impact Benefit Agreement with the Tahltan Nation.
12 Months:
Continue with timely permitting at Eskay Creek.
Continue advancing construction and detailed engineering at site.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
British Columbia is viewed by some as a complicated mining jurisdiction due to relationships with the government and First Nations. In response to these concerns, the British Columbia Regional Mining Alliance (BCRMA) was formed. Skeena is a founding member of the BCRMA, a regional partnership between the government of British Columbia, First Nation and industry. This unique collaboration aims to promote BC mining and exploration opportunities internationally, with a focus on projects in the Golden Triangle of northwest BC.
What do you think makes your company such a compelling investment?
Eskay Creek is a world-class asset and one of the highest-grade open-pit gold-silver projects in the world, containing open-pit reserves of 4.6 million ounces at 3.6 g/t gold equivalent in the Proven and Probable categories. The Definitive Feasibility Study from November 2023 highlights an after-tax NPV5% of C$2.0B, 43% IRR, and a 1.2-year payback at US$1,800/oz Au and US$23/oz Ag. At current spot prices, the project NPV is over C$4.2B. Skeena is well-financed to develop Eskay Creek after securing a comprehensive US$750m financing package with Orion Resource Partners in June 2024.
What are the top 3 key investor takeaways?
1. Eskay Creek is a high-grade, open-pit asset in a stable geo-political region. Eskay Creek contains 4.6 million ounces AuEq of open-pit reserves at 3.6 g/t AuEq in the Golden Triangle of British Columbia, Canada. It will be one of the highest-grade open-pit mines in the world once in production.
2. Despite being primarily a gold mine, Eskay Creek possesses a substantial amount of silver. Eskay’s silver production will surpass many of the world’s primary silver mines, and will produce an average of 9.5 Moz Ag per year in years 1-5 of the mine life.
3. Skeena is proud to maintain a collaborative partnership with the Tahltan First Nation, and is advancing the project alongside the Tahltan as aligned stakeholders and decision makers.