Skeena Resources Ltd T.SKE

GLOBE SAYS

[Ridgeback]

lobe says "high-grade opportunity" seen at Skeena

Skeena Resources Ltd (4) (C:SKE)
Shares Issued 88,129,355
Last Close 6/20/2023 $6.50
Tuesday June 20 2023 - In the News

The Globe and Mail reports in its Tuesday edition that Canaccord analyst Jeremy Hoy assumed coverage on Monday on Skeena Resources with a "speculative buy" recommendation following the departure of a colleague.

The Globe's David Leeder writes that Mr. Hoy cut his share target back by $2 to $14.

Analysts on average target the shares at $16.06. Mr. Hoy says in a note: "Skeena is a junior developer advancing its flagship Eskay Creek gold-silver project, located in the Golden Triangle of British Columbia. Previously, Eskay was operated as an underground mine by Barrick and was the highest-grade gold mine in the world at the time, producing 3.3Moz Au grading 45g/t from 1994-2008.

The Eskay of today is a brownfield revitalization project focused on open pit extraction of both high-grade mineralization left untouched by Barrick as well as newly discovered zones on the property, uncovered by Skeena's ongoing exploration programs.

We believe a substantial, high-grade opportunity remains on the property in light of Barrick's exceptionally high cut-off grades to the mill (more than 15g/t Au) and the new gold price environment." The Globe reported on Sept. 10 that CIBC rated Skeena "outperformer." It was then worth $6.75.
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It will take a lot more to make this outperform given miners are somewhat out of favour for the moment and Skeena is a ways off from production.

[metalhead666]

Skate to where the puck is going to be not where it is or was.  If you want a multi bagger you have to have a 2-3 year time horizon for SKE.  If you want a faster double buy Artemis...they are 2 years ahead in their development with a similar 300 -400k ounces of production at similar ultra low AISC