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Bullboard - Stock Discussion Forum Skeena Resources Ltd T.SKE

Alternate Symbol(s):  SKE

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... see more

TSX:SKE - Post Discussion

Skeena Resources Ltd > Skeena Resources Consolidates Shares At 4 To 1 Ratio
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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.
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 ...more  
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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