Skeena Resources Ltd. grants Eskay Creek net smelter returns royalty to Franco-Nevada for C$27M
December 30, 2022
27.00 Million CAD
On January 3, 2023, Skeena Resources Limited ("Skeena") announced its royalty sale transaction with Franco-Nevada Corporation ("Franco-Nevada") pursuant to which Skeena granted a 0.5% net smelter returns royalty on the Eskay Creek gold-silver project to Franco-Nevada in exchange for a closing cash consideration of C$27 million and contingent cash consideration of C$1.5 million. In connection with this transaction, Skeena terminated Franco-Nevada's right of first refusal to purchase a 0.5% NSR on Eskay Creek, which was granted to Franco-Nevada on December 24, 2021.
Skeena Resources Ltd. is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada.
Franco-Nevada is a Toronto-based gold mining company that has been in operation since 1986.
McCarthy Tétrault advised Skeena Resources Ltd. with a team led by Daniel Bornstein that included Peter Quon (Business).