Each one in plain English, with the numbers worked through for a shareholder.
8 Oct 2025capital raising announcement▲ GoodMajor
The bought deal closed at C$143.8 million after the underwriters took their over-allotment in full - 5,991,500 shares at C$24.00 - for continued advancement of Eskay Creek.
What it means for a shareholder
6.0m new shares at C$24.00 to raise about C$144m. That's 5.3% dilution: every existing holder's slice gets 5.3% smaller. If you held C$1,000 of shares (42 at the issue price), your slice goes from 0.0000387% to 0.0000367% of the company. To keep it you'd need 2 more shares - about C$48 at the issue price.
2 Oct 2025capital raising announcement● NeutralMajor
A C$125 million bought deal, 5,210,000 shares at C$24.00 through a BMO-led syndicate with a 15% over-allotment option. The same release discloses an unanticipated permitting delay caused by the BC government employee strike and that the Tahltan impact benefits agreement ratification vote, expected within weeks, is affected - the first slippage disclosed in the permitting timetable.
What it means for a shareholder
5.2m new shares at C$24.00 to raise about C$125m. That's 4.6% dilution: every existing holder's slice gets 4.6% smaller. If you held C$1,000 of shares (42 at the issue price), your slice goes from 0.0000387% to 0.0000369% of the company. To keep it you'd need 2 more shares - about C$48 at the issue price.
26 Feb 2025capital raising announcement▲ GoodMajor
Closed a C$88.3 million bought deal: 3,290,000 shares at C$14.70 and 2,230,000 flow-through shares at C$17.93, with the over-allotment taken in full and BMO as sole bookrunner. Raised at more than double the C$6.05 of the September 2022 deal and the C$8.53 flow-through price of December 2023.
What it means for a shareholder
3.3m new shares at C$14.70 to raise about C$88.3m. That's 3.0% dilution: every existing holder's slice gets 3.0% smaller. If you held C$1,000 of shares (68 at the issue price), your slice goes from 0.0000632% to 0.0000613% of the company. To keep it you'd need 2 more shares - about C$29 at the issue price.
The flow-through placement closed at C$10.7 million on 1,258,709 shares at about C$8.53, slightly above the announced size.
What it means for a shareholder
1.3m new shares at about C$8.50 to raise about C$10.7m. That's 1.6% dilution: every existing holder's slice gets 1.6% smaller. If you held C$1,000 of shares (118 at the issue price), your slice goes from 0.000151% to 0.000149% of the company. To keep it you'd need 2 more shares - about C$17 at the issue price.
18 Dec 2023capital raising announcement● NeutralMajor
Franco-Nevada put up C$81 million: C$56 million for a further 1.0% net smelter royalty on Eskay Creek, taking its total royalty to 2.5% across all the Eskay ground, plus a C$25 million unsecured convertible debenture at 7% maturing on the earlier of December 2028 or completion of project financing. Management said plainly it is avoiding ordinary share issuance because the market for Canadian mine developers is difficult, and that the extra 1% royalty adds about US$20/oz to an all-in sustaining cost of US$687/oz.
The bought deal closed at C$34.5 million after the underwriters took their over-allotment in full - 5,702,479 shares at C$6.05. The stated use of proceeds is to exercise the right to buy down Barrick's 0.5% net smelter royalty on Eskay Creek.
What it means for a shareholder
5.7m new shares at C$6.05 to raise about C$34.5m. That's 8.0% dilution: every existing holder's slice gets 8.0% smaller. If you held C$1,000 of shares (165 at the issue price), your slice goes from 0.000253% to 0.000232% of the company. To keep it you'd need 14 more shares - about C$85 at the issue price.
A C$30 million bought deal, 4,958,678 shares at C$6.05 through a Raymond James-led syndicate with a 743,801-share over-allotment option. The price is worth noting against the C$21.00 Franco-Nevada paid for flow-through shares nine months earlier.
What it means for a shareholder
5.0m new shares at C$6.05 to raise about C$30.0m. That's 7.0% dilution: every existing holder's slice gets 7.0% smaller. If you held C$1,000 of shares (165 at the issue price), your slice goes from 0.000253% to 0.000235% of the company. To keep it you'd need 13 more shares - about C$79 at the issue price.
24 Mar 2022capital raising announcement▲ GoodMajor
Barrick exercised the 2,812,500 warrants it received when it sold Eskay Creek to Skeena in October 2020, paying C$10.80 each for C$30.4 million of cash. The money funds a 60,000-metre 2022 drill programme - a skid-based start in April and eight helicopter-supported rigs from June - aimed at the new 21A West and 23 Zones and at the deep mudstone north of the old mine.
27 Dec 2021capital raising announcement▲ GoodMajor
The Franco-Nevada placement closed on 23 December 2021 for C$30.9 million gross, earmarked for Canadian exploration spending. The royalty right of first refusal was granted as described, and the two companies also amended their existing royalty agreement so it covers the same ground as Barrick's.
13 Dec 2021capital raising announcement▲ GoodMajor
Franco-Nevada agreed to buy C$30.9 million of flow-through shares (1,471,739 at C$21.00) in a non-brokered placement, and in return got a right of first refusal over a 0.5% net smelter royalty on Eskay Creek - the same half that Skeena can buy back from Barrick for C$17.5 million until October 2022. If Skeena has not sold that royalty to anyone by 2 October 2023, Franco-Nevada can take it for C$22.5 million.
