Skeena Resources Soars 2.55% on Eskay Creek Project Progress

Skeena Resources (SKE) surged 2.55% today, marking its sixth consecutive day of gains, with a 44.95% increase over the past six days. The share price reached its highest level since March 2022, with an intraday gain of 3.94%.

Skeena Resources is making significant strides with its Eskay Creek Gold-Silver Project, which is poised to become Canada's largest silver mine. This project is expected to have a substantial economic impact, contributing $14 billion to the GDP and creating over 1,700 jobs. Additionally, the project holds potential for critical minerals production, further enhancing its value.

The company has submitted its Environmental Assessment application for the Eskay Creek Gold-Silver Project in British Columbia. This submission represents a crucial step in the permitting process and brings the project closer to production, which is a positive development for investors.

Skeena Resources has secured a $200 million deal that is set to position Eskay Creek for production by 2027. This financial backing is a significant milestone for the company, providing the necessary resources to advance the project and meet its production goals.

Analysts at Raymond James have raised the price target for Skeena Resources from C$18.50 to C$21, reflecting the positive market sentiment and the company's progress. This increase in the price target, along with the recent stock price rise, indicates a strong outlook for Skeena Resources.