Access to infrastructure already in place, like roads and power.Open-pit operations with low AISC costs of Us$652 per ounce.high-grade ore suggests there is high gold concentration). Management notes that this really makes Skeena a standout with about three times the grade of most open-pit gold mines (i.e. Low-risk mining jurisdiction with operations in Canada.
Skeena granted a 0.5-per-cent net smelter returns royalty on Eskay Creek to Franco-Nevada. A replacement has yet to be announced and the CEO is temporarily assuming these responsibilities.Īlso in January., the company completed a $27 million royalty sale with Franco-Nevada Corp. In January of 2023, Shane Williams, the chief operating officer, departed from the company after working at Skeena for nearly three years. ( BTO-T), where he held the position as vice-president of operations and joined Skeena in April 2022. The chief executive officer Randy Reichert was formerly at B2Gold Inc.
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Meanwhile, management is continuing its exploration drilling program with an update in the 21A West Zone at Eskay Creek expected this month and an updated resource on its 100-per-=cent owned Snip gold project is anticipated in the third quarter. Management targets production to begin at Eskay Creek in early 2026. Management’s near-term objectives are to obtain construction and operating permits, and advance construction on site based on existing permits. To bring this mine back into production, management has estimated pre-production capital expenditures of $592-million. The mine life is nine years, but management believes this will increase. All-in sustaining costs (AISC) are low at US$652 an ounce.
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The Snip gold project is located 40 kilometers west of Eskay Creek.īased on a 2022 feasibility study for Eskay Creek, management’s base case scenario calls for average after-tax annual free cash flow of $293-million with a gold price assumption of US$1,700 an ounce and silver price of U.S$19 an ounce suggesting an after-tax payback of one year and an after-tax internal rate of return (IRR) of 50 per cent. Between 19, the Snip mine produced roughly 1 million ounces of gold. * In the United States, Bombardier Class B common shares also trade on the OTCQX under the symbol BDRBF.In 2017, Skeena bought the past-producing Snip mine also from Barrick.
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