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The latest update is out from Skeena Resources ( (TSE:SKE) ).
Skeena Resources Limited has announced a bought deal financing agreement to raise approximately C$125 million through the sale of common shares. The proceeds will be used to advance the Eskay Creek project and for general corporate purposes. Despite an unexpected delay in the government permitting process due to a BC government employee strike, the company is progressing with negotiations on the Impact Benefits Agreement with the Tahltan Central Government. This financing, along with other funding sources, is expected to provide sufficient liquidity for the company to complete permitting, a prerequisite for accessing further financing from Orion Resource Partners.
The most recent analyst rating on (TSE:SKE) stock is a Buy with a C$26.00 price target. To see the full list of analyst forecasts on Skeena Resources stock, see the TSE:SKE Stock Forecast page.
Spark’s Take on TSE:SKE Stock
According to Spark, TipRanks’ AI Analyst, TSE:SKE is a Neutral.
Skeena Resources’ overall stock score reflects the high-risk, high-reward nature of exploration companies. The financial performance is weak due to lack of revenue and substantial losses, yet there is strong technical momentum and positive corporate developments. Valuation remains challenging with negative earnings, but the company’s strategic initiatives in project advancement and financing are promising. Investors should weigh the potential for significant returns against the inherent risks of the sector.
To see Spark’s full report on TSE:SKE stock, click here.
More about Skeena Resources
Skeena Resources Limited, known as Skeena Gold & Silver, is a prominent precious metals developer focused on advancing the Eskay Creek Gold-Silver Project. The company operates primarily in the precious metals industry, with a market focus on developing gold and silver resources.
Average Trading Volume: 411,896
Technical Sentiment Signal: Buy
Current Market Cap: C$2.97B
See more data about SKE stock on TipRanks’ Stock Analysis page.