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Skeena Resources ( (TSE:SKE) ) just unveiled an announcement.
On April 10, 2026, Skeena Resources completed a US$750 million offering of 8.5% senior secured notes maturing in 2031, marking what it says is the first public high-yield notes deal by a pre-revenue miner in more than a decade. The company plans to use the proceeds to repurchase two-thirds of a US$200 million gold stream tied to its Eskay Creek project, pre-fund 18 months of interest, and finance remaining construction and corporate needs.
The refinancing replaces an undrawn US$350 million senior secured loan and US$100 million cost overrun facility arranged in 2024 with a covenant-light debt structure that Skeena says lowers its overall cost of capital and boosts financial flexibility. By buying back 66.67% of the gold stream early for US$184 million, Skeena increases its exposure to future gold prices and production from Eskay Creek, aiming to improve long-term operating margins, simplify its capital structure, and enhance project economics for shareholders as the mine advances toward planned start-up in 2027.
The most recent analyst rating on (TSE:SKE) stock is a Sell with a C$41.00 price target. To see the full list of analyst forecasts on Skeena Resources stock, see the TSE:SKE Stock Forecast page.
Spark’s Take on SKE Stock
According to Spark, TipRanks’ AI Analyst, SKE is a Neutral.
The score is primarily constrained by weak financial performance (pre-revenue profile, ongoing losses, and sustained cash burn with higher 2025 free-cash-flow pressure). Technicals add further downside bias (below key short-term averages with negative MACD), while valuation is also penalized by negative earnings and no dividend support.
To see Spark’s full report on SKE stock, click here.
More about Skeena Resources
Skeena Resources Limited, branded as Skeena Gold & Silver, is a precious metals development company focused on advancing the fully permitted Eskay Creek gold-silver project in British Columbia’s Golden Triangle. The project is under construction and is expected to become one of the world’s highest-grade, lowest-cost open-pit precious metals mines, with significant silver by-product output and a target of initial production and cash flow in the second quarter of 2027.
Average Trading Volume: 489,317
Technical Sentiment Signal: Buy
Current Market Cap: C$5.48B
See more insights into SKE stock on TipRanks’ Stock Analysis page.