Mining News

Barrick Gold sells stake in Skeena Resources for $107 million

Barrick Gold (NYSE:GOLD)(TSX:ABX) announced Thursday that it is selling its stake in Skeena Resources for C$132.4 million ( nearly $107m) or C$15 per common share.

The world’s second largest gold miner said a Canadian investment dealer agreed to buy 8,831,250 common shares immediately following the closing of the Disposition on March 23.

Skeena Resources’ asset is the Eskay Creek gold project in British Columbia’s Golden Triangle.

Barrick will no longer have beneficial ownership of, or control or direction over, any of Skeena’s issued and outstanding common shares and said it is proceeding with the Disposition for investment portfolio management purposes.

Share this article