Skeena Resources Ltd T.SKE

Skeena Sees Barrick Exercise Warrants, Sell Out Of 12.9% Own

[AwareInvestor]

Barrick Gold has apparently done a quick flip on shares of Skeena Resources. While Skeena this morning was busy announcing that Barrick had bought shares from the treasury, Barrick was announcing that it had sold those same shares, and more.

https://thedeepdive.ca/skeena-sees-barrick-exercise-warrants-sell-out-of-12-9-ownership-position-entirely/

[stopedout]

No word from the dealer that bought the stock and at what price they will sell it to the public. Bought at $15 so I would have thought the market would be somewhere between $15 and $15.50 after the announcement. Sold my the rest of my trading possition at $15.90.

[jfan22]

There is no way these shares hit the open market. Either an institution (or multiple) or another major miner will buy those shares To buy Skeena, 67% of shares need to vote in favor of the deal. With Barrick owning 12.9% and management looking to move into production, another miner would have been unlikely to be able to win a buyout. Especially true since retail owns 25% of shares and you can