Skeena Resources Limited
Financials:
Primary tickers: TSX:SKE, NYSE:SKE, FRA:RXF
Stage of development: Exploration, Development
Primary minerals: Gold, Silver
Project to promote: Eskay Creek Gold-Silver Project
Project locations: Golden Triangle, British Columbia, Canada
Website: skeenaresources.com
Corporate presentation: Click here
Corporate video: Click here
Cash: ~CAD$38M (as of 11.13.23)
Debt: NIL
Major shareholders:
BlackRock – 13%
Deutsche Balaton – 12%
Van Eck Associates – 5%
Management Ownership – ~6% Diluted
Map of Projects
Management Profile
Randy Reichert – President & CEO
Mr. Reichert has 30 years of experience in the mining industry and prior to joining Skeena, was the Vice President of Operations at B2Gold Corp. where he oversaw their three international gold operations. Before his most recent role at B2Gold Corp, Mr. Reichert was the General Manager at their Fekola Mine in Mali where he was part of the development team and led the transition from development into operations. He started his career with Cominco in Canada working at various operations including the Snip Mine. He then embarked on international work with Bema Gold, Oriel Resources, and other junior companies in executive roles where he was responsible for various development projects and mining operations.
Katie MacKenzie – Director, Investor Relations
Ms. MacKenzie is a Geologist and Investor Relations Professional. Prior to making the transition to the corporate side of the industry, she worked for both junior and major mining companies in Ontario and Saskatchewan. Ms. MacKenzie obtained a Bachelor of Science degree in Geology from the University of Regina and is currently Skeena’s Director of Investor Relations.
What is your rationale for taking part in 121 Mining Investment?
To raise investor awareness of Skeena’s high-grade, open-pit Eskay Creek project in northwest British Columbia, Canada and update existing shareholders on the results of our robust Definitive Feasibility Study for Eskay Creek.
What recent news would you like to highlight to investors attending?
November 14, 2023 – Skeena Completes Positive Definitive Feasibility Study for Eskay Creek: After-Tax NPV (5%) of C$2.0 Billion, 43% IRR and 1.2 Year Payback
October 5, 2023 – Skeena Provides Regional Exploration Update on 100% Owned KSP Property
September 5, 2023 – Skeena Increases Indicated Resource at Snip to 823,000 Gold Ounces Representing a 237% Increase
June 20, 2023 – Increase of Eskay Creek Resource to 5.9 Moz AuEq in Measured and Indicated Categories
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Exploration results from summer drill program at Eskay Creek
6 Months:
Maiden Engineering Study for the Snip Project
Continued exploration results from Eskay Creek
Project Financing Announced
12 Months:
JA1 Permit Received
Continued Construction at Eskay Creek
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. In addition, there is still significant exploration potential on the project. Skeena is currently one of the largest landholders in British Columbia’s mineral-rich Golden Triangle region, with over 170,000 hectares of mineral claims.
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 of open-pit reserves at 3.6 g/t AuEq in the Golden Triangle of British Columbia, Canada.
2. Skeena is aggressively advancing Eskay Creek towards production. In November 2023, Skeena released a Definitive Feasibility Study for Eskay Creek, which builds on the September 2022 Feasibility Study. The November 2023 Definitive Feasibility Study forms the basis upon which the project will be constructed.
3. Skeena has an excellent relationship with government and First Nation partners. The company is a founding member of the B.C. Regional Mining Alliance – an alliance between government, First Nations and industry to promote mining investment in the Golden Triangle.