Skeena Reports Q2 2026 Loss of C$35.2M; Eskay Creek Construction on Track for 2027 Production
SKE has more than doubled off its 52-week low of $14.53.
Summary
Skeena Resources reported a Q2 2026 net loss of C$35.2 million while advancing construction at its Eskay Creek gold-silver project, with production targeted for 2027.
Key Events · Earnings and Guidance · SKE
-
Q2 2026 Net Loss of C$35.2M
Skeena reported a net loss of C$35.2 million for Q2 2026 and C$139.7 million for H1 2026, driven by interest expense on the Senior Secured Notes, foreign exchange losses, and a decline in the value of its TDG Gold Corp. holdings.
-
Liquidity Position of C$635.7M
As of June 30, 2026, the company held C$134.8 million in cash and cash equivalents plus C$500.9 million in restricted cash, which management says is sufficient to fund construction through commercial production expected in 2027.
-
Eskay Creek Construction Progress
Construction is advancing with 4.3 million tonnes mined ex-pit, the process plant building structurally complete, and substation construction underway. Ore mining and stockpiling are expected to commence in the remainder of 2026.
-
Updated Technical Report Expected Late 2026
The company expects to release an updated NI 43-101 Technical Report for Eskay Creek and Snip in late 2026, which could extend the mine life and improve the production profile beyond the first five years.
Analysis · SKE · Energy & Transportation
Skeena's Q2 2026 results show a net loss of C$35.2 million, driven by interest expense on the new Senior Secured Notes, foreign exchange losses, and a decline in the value of its TDG Gold Corp. holdings. The company holds C$134.8 million in cash plus C$500.9 million in restricted cash, which management says is sufficient to fund construction through commercial production expected in 2027. Construction at Eskay Creek is progressing with 4.3 million tonnes mined and the process plant building structurally complete. The company also expects to release an updated NI 43-101 technical report in late 2026 that could extend the mine life.
At the time of this filing, SKE was trading at $32.49 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.1B. The 52-week trading range was $14.53 to $38.77. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.