Barrick sells Skeena shares for C$132.5m
Bullion major Barrick Gold has entered into an agreement to sell its shares in Canadian precious metals developer Skeena Resources for C$132.5-million, it announced on Thursday.
A Canadian investment dealer would buy 8.83-million shares of Skeena from Barrick for resale on a bought-deal basis.
Barrick explained that it was selling its holding in Skeena for investment portfolio management.
Skeena’s primary activities are exploration and development of the past-producing Snip and Eskay Creek mines, both acquired from Barrick, and the past-producing Porter Idaho silver mine.
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