Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Skeena Resources Ltd T.SKE

Alternate Symbol(s):  SKE

Skeena Resources Limited is a Canadian mining exploration and development company. The Company is focused on revitalizing the Eskay Creek and Snip Projects, two past-producing mines located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Eskay Creek portal consists of eight mineral leases, two surface leases and various unpatented mining claims totaling 6,151 hectares. The Snip Property consists of one mining lease and eight mineral claims totaling approximately 4,546 hectares in the Liard Mining Division. The Snip Property’s indicated resources include 823,000 ounces hosted within 2.74 million tons at an average grade of 9.35 g/t Au.


TSX:SKE - Post by User

Post by templetooth2on Apr 18, 2024 10:21am
152 Views
Post# 35995778

Financing Fiasco du jour

Financing Fiasco du jourToday it's Lithium Americas. LAC.  For the last month it's been bouncing around the US$7 level and the hammer dropped with a bot deal last night. At $5. OUCH. Raising $275 million before approximate $42 million greenshoe.

We all know that Skeena will be similarly bludgeoned when not if. I still maintain SKE should pursue a convertible debenture, convertible into gold once production starts. This is essentially pre-selling a very modest part of your gold production. 100,000 ounces at  $2200 per ounce raises $220,000,000 US. 
You price it low so that the conversion feature is exercised, meaning that the debt is (almost) guaranteed to be liquidated.

How could this idea be worse that the 25-30% scalping you will witness when it's Skeena's turn to face the guillotine?
<< Previous
Bullboard Posts
Next >>