Barrick Gold selling its stake in Skeena Resources for nearly $132.5M

TORONTO — Barrick Gold Corp. is selling its 13 per cent stake in Skeena Resources Ltd. for nearly $132.5 million.

The gold miner says a Canadian investment dealer has agreed to pay $15 per share for its 8.8 million shares in Skeena Resources and plans to resell them on a bought deal basis.

Skeena shares were down four cents at $15.74 in early trading on the Toronto Stock Exchange on Thursday.

Barrick says it is selling the shares for "investment portfolio management purposes."

Skeena Resources is a mining exploration and development company.

It owns the Eskay Creek gold-silver project in northwest British Columbia.

This report by The Canadian Press was first published March 24, 2022.

Companies in this story: (TSX:ABX, TSX:SKE)

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