RE:RE:Skeena Sees Barrick Exercise Warrants, Sell Out Of 12.9% OwnThere 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 expect low turnout from them for the vote.
Barrick selling is the equivalent of Skeena hitting the open market and being elligible for a buyout. Someone major is going to buy this 12.9% at a good premium, at 8am during premarket when retail is locked out from buying.