Eskay Creek Gold Project Costs Rise $99M to $659M, Production Still On Track for Q2 2027
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Skeena Resources provided a detailed update on its Eskay Creek Gold-Silver Project, confirming 49% completion as of February 28, 2026, and reiterating the target for initial production in Q2 2027. The company also announced an updated construction cost estimate of US$659 million, an increase of US$99 million from the previous US$560 million estimate. This update follows the company securing necessary permits and substantial financing for the project, as noted in a recent 40-F filing on March 24, and the updated cost estimate was formalized in a 6-K filing shortly after this news release. The cost increase is a material development for the project's economics, though the company attributes it to updated permit conditions, inflationary impacts, and engineering refinements. Maintaining the production schedule is a positive signal regarding execution risk. Investors will monitor future updates on project costs and progress, particularly as the project approaches its Q2 2027 initial production target.
At the time of this announcement, SKE was trading at $28.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $8.53 to $38.77. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.