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Bullboard - Stock Discussion Forum
Skeena Resources Ltd
T.SKE
Alternate Symbol(s):
SKE
Metals & Mining
Gold
Skeena Resources Limited is a precious metals developer that is focused on advancing the Eskay Creek Gold-Silver Project, a past producing mine located in the Golden Triangle in British Columbia, Canada. Eskay Creek represents one of the highest-grade and lowest cost open-pit precious metals mines in the world, with substantial silver by-product production. It also owns the past-producing Snip...
gold mine (Snip). In addition to Eskay Creek and Snip, the Company also owns several exploration stage mineral properties in the Golden Triangle and Liard Mining Division of British Columbia. Its 100%-owned Eskay Creek Project is a high-grade volcanogenic massive sulphide (VMS) deposit. The Snip mine consists of one mining lease and eight mineral claims totaling approximately 4,546 hectares (ha) in the Liard Mining Division. It has staked a 74,633-ha Hoodoo Project, located approximately 65 kilometers northwest of Eskay Creek. It also has interests in KSP property.
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TSX:SKE - Post Discussion
Skeena Resources Ltd
> Skeena Resources Consolidates Shares At 4 To 1 Ratio
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AwareInvestor
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Post by
AwareInvestor
on Jun 10, 2021 9:31am
Skeena Resources Consolidates Shares At 4 To 1 Ratio
Skeena Resources this morning issued a brief press release, indicating that it has completed a share consolidation. Also known as a reverse split, the company saw its common shares outstanding reduced on a four to one basis.
https://thedeepdive.ca/skeena-resources-consolidates-shares-at-4-to-1-ratio/
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Ridgeback
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Comment by
Ridgeback
on Jun 10, 2021 10:11am
What does this mean for Skeena? A share consolidation occurs when a company decreases the number of shares it has on issue. This causes the share price to increase proportionally, so that the value of each shareholders' holding remains unchanged relative to the market capitalisation of the company. Skeena's announcement comes in anticipation of the company's pursuit
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Photobug1
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Comment by
Photobug1
on Jun 10, 2021 11:27am
They do this especially to attract institutional investors with a higher share price and lower floats when they need to raise funds for the mine.
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