Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Vancouver-based precious metals junior Skeena Resources (TSXV: SKE) announced Thursday it has closed the second and final tranche of its non-brokered private placement offering. Together with the first tranche, the company has raised gross proceeds of C$33.3 million (about $23.8 million).
On March 31, Skeena completed the first tranche of the placement, collecting gross proceeds of C$15 million from the sale of 13 million shares at C$1.155 per share.
In the final tranche, Skeena raised gross proceeds of C$18.2 million from the sale of approximately 16.8 million shares at the same offering price, or C$1.05 per share if issued without the British Columbia tax credit.
Net proceeds of the offering will be used to fund exploration activities on the company’s projects in the Golden Triangle of British Columbia, which include the past-producing Eskay Creek mine and Snip mine.
Shares of Skeena Resources were up 4% at noon EST. The company has a C$126.6 million market capitalization.
