$SKE.TO

3 stories mentioning SKE.TOUpdated 35d ago

Every FINWIRES story that references SKE.TO, newest first.

CIBC Sees a Favorable Backdrop for Gold Developers Amid High Gold Prices

The backdrop for gold developers including Fuerte Metals (FMT.V), Meridian Mining (MNO.TO) and Thesis Gold & Silver (TAU.V) is increasingly favorable amid high gold prices, CIBC Capital Markets said.Elevated gold prices have improved project economics, while strong equity financing appetite and record royalty deal flow continue to support project advancement and provide additional balance sheet flexibility, CIBC said.CIBC views recent consolidation in the gold sector as constructive for M&A, as it may help narrow the gap between buyer and seller expectations.CIBC's gold coverage reflects a broader review of the sector universe, focusing on names that offer the most compelling combination of robust economics, credible paths to construction, capable management teams and meaningful re-rating potential.CIBC also raised Skeena Resources (SKE.TO)'s price target to C$60.00 from $58.00.Price: $9.51, Change: $+0.26, Percent Change: +2.81%

$FMT.V$MNO.TO$SGD$SKE.TO$TAU.V$TO

Mining & Metals66d ago

Versamet Royalties Completes Eskay Creek Buy

Versamet Royalties (VMET.TO) said Friday that it has completed the acquisition of a 3.52% gold stream in respect of gold production from the Eskay Creek project from Orion Resource Partners and Blackstone affiliates.A statement noted the company paid US$340 million in cash and issued about 2.05 million shares to the vendors. The cash portion was financed through an expanded credit facility totaling US$400 million, including a US$250 million revolving credit line maturing in March 2029 and a US$150 million term loan maturing in March 2028, according to the statement."Eskay is expected to produce an average of over 300,000 ounces of gold per year in its first 5 years and an average of approximately 230,000 ounces of gold per year over its initial 12 year life," the company said, adding that it will pay 10% of the spot gold price for each ounce it receives under the stream.Price: $16.71, Change: $-0.45, Percent Change: -2.62%

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Treasury66d ago

Skeena Resources Closes an Offering of US$750 Million of Senior Secured Notes

Skeena Resources (SKE.TO) on Friday said it closed an offering of US$750 million of 8.5% Senior Secured Notes.The company said that the notes will mature in 2031 and are non-callable for the first two years.The company, which is building the Eskay Creek mine in northern British Columbia's Golden Triangle, said proceeds of the offering will be used for a "comprehensive refinancing strategy," designed to optimize the company's capital structure by reducing its cost of capital and enhance its financial flexibility."Skeena has a track record of breaking new ground in the mining industry, and this transaction represents another important milestone," said executive chair Walter Coles. "We are proud to be the first pre-revenue mining company in more than a decade to successfully complete a public high-yield notes offering. The strong support for this debt issuance from leading global investment firms, including KKR and Bank of America, underscores growing confidence in our strategy, our management team, and the robustness of the Eskay Creek project as we progress toward initial production in Q2 2027."Skeena will use the proceeds to cancel and replace of its undrawn senior secured loan of US$350 million and cost overrun facility under a gold-streaming agreement of US$100 million and the repurchase of approximately two-thirds of the US$200-million gold stream for US$187 million.It will also prefund interest on the notes for 18 months with US$94 million deposited to an interest reserve account, equal to the first three semi-annual interest payments on the notes, and use the remaining capital of approximately US$470 million to support the remaining construction at Eskay Creek through a disbursement account, for general corporate purposes, and for expenses associated with the issuance of the notes.The company's shares were last seen up C$0.44 to C$45.43 on the Toronto Stock Exchange.Price: $45.43, Change: $+0.44, Percent Change: +0.98%

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