Skeena Gold & Silver has successfully drawn US$45 million from its gold stream arrangement, marking the second tranche of a total US$200 million commitment. This funding will support continued development of the Eskay Creek Gold-Silver Project, with further drawdowns anticipated throughout 2025. Skeena has also received ongoing support from the Province of British Columbia, enabling the advancement of pre-construction activities.
Skeena Resources Limited (TSX:SKE)(NYSE:SKE) ('Skeena Gold & Silver','Skeena' or the'Company') collected US$45 million of gold stream funding on December 30, 2024 under its gold stream arrangement, as outlined in the Company's(the' Gold Stream Arrangement'). Skeena is also pleased to report continued advancement on numerous authorizations from the Province of British Columbia to support ongoing activity at the Company's 100%-owned Eskay Creek Gold-Silver Project ('Eskay' or the'Project').
To date, the Company has successfully advanced various pre-construction activities as part of the early works program.'The current tranche of the gold stream financing will enable Skeena to continue advancing the Project, with further drawdowns anticipated throughout 2025. We are encouraged by the supportive and constructive dialogue with the Province of British Columbia, which has helped facilitate early works activities in 2024. As a result, we are progressing with our pre-development plans and proactively de-risking the Project to stay on track for production in 2027.'Skeena Gold & Silver has collected the second tranche of US$45 million under the Gold Stream Arrangement. This is the second of five tranches under the previously announced US$200 million gold stream, whereby the funds were made available following receipt of the Bulk Technical Sample permits in December and the satisfaction of certain other customary conditions (see). The remaining three tranches will be drawn in settlements of US$50 million, subject to the satisfaction of certain customary conditions before March 31, 2026 to support continued development of the Project. Skeena is entitled to a buyback provision to reduce the stream percentage by 66.67% by repaying the proportional deposit plus an imputed 18% IRR, for a period of 12 months following the Project completion dat
Gold Stream Eskay Creek Skeena Resources Funding Mining
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