Skeena Gold + Silver is a mining development company focused on gold and silver in British Columbia's Golden Triangle region. Skeena's flagship asset is the Eskay Creek Project, a past-producing mine that entered the development phase in December 2024, located roughly 83 km northwest of Stewart, BC. Skeena does not yet generate revenue; the company is currently building Eskay Creek into an operating mine, with the goal of producing and selling gold and silver into commodity markets. Skeena also owns several exploration-stage properties in the region, including the past-producing Snip gold mine, though these are secondary priorities. To fund Eskay Creek's development, Skeena secured US$550M in project financing from Orion, structured as a US$200M gold stream and a US$350M senior secured term loan. Under the gold stream, Orion provides an upfront deposit in exchange for 10.55% of payable gold production for the life of the mine, with Skeena receiving roughly 10% of spot gold price per ounce on those deliveries until the deposit is repaid. Skeena has a buy-down option to reduce the stream by roughly 67% within 12 months of project completion. The term loan bears interest at SOFR + 7.75%, with repayment running from late 2027 through 2031. Once in production, Skeena's revenue will be driven by gold and silver volumes produced and prevailing commodity prices, though the gold stream and NSR royalties of 4.0–5.5% on mineral tenures represent meaningful deductions from gross revenue.
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