CA - Hochschild nixes option on Skeena Resources' Snip gold project

2023-04-05 09:57:16 ET

Skeena Resources ( NYSE: SKE ) said Wednesday that Hochschild Mining ( OTCQX:HCHDF ) has terminated its option to earn into 60% of the Snip gold project in British Columbia, leaving Skeena reassuming management of the project and retaining 100% ownership.

Skeena ( SKE ) will investigate opportunities to bolster the Eskay Creek mine life by processing Snip ore at the Eskay Creek mill, President and CEO Randy Reichert said.

Hochschild ( OTCQX:HCHDF ) said it prefers to focus its capital on later-stage projects in its portfolio, notably the Mara Rosa in Brazil.

Skeena Resources ( SKE ) appears to be on track for another year of declining production, with mining activities nearing completion at Pallancata, Taylor Dart writes in an analysis published earlier this year on Seeking Alpha .

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