Skeena Resources Limited Reports Fourth Quarter and Annual Financial Results for 2024
Vancouver, BC – Skeena Resources Limited (TSX:SKE)(NYSE:SKE) (“Skeena Gold & Silver”, “Skeena” or the “Company”) is pleased to announce the release of its fourth quarter and annual financial results for the year ended December 31, 2024. The financial statements, management’s discussion and analysis (“MD&A”), and annual information form (“AIF”) have been filed and are available on Skeena’s website and under the Company’s profile on SEDAR and EDGAR.
Financial Highlights
During the fourth quarter, Skeena reported total revenue of $50.3 million, a significant increase from the previous quarter’s $26.5 million. The Company’s net income for the quarter was $19.2 million, compared to a net loss of $1.8 million in the previous quarter. For the full year, Skeena reported total revenue of $131.7 million and a net income of $23.5 million.
Operational Highlights
Skeena’s gold production for the year ended December 31, 2024 was 121,000 ounces, a 32% increase from the previous year. The Company also reported silver production of 1.2 million ounces, a 53% increase from the previous year. Skeena’s all-in sustaining costs per ounce of gold were $743, a 12% decrease from the previous year.
Outlook
Looking forward, Skeena is optimistic about its future growth. The Company plans to continue exploration activities at its Eskay Creek project, which has the potential to significantly increase Skeena’s gold and silver reserves. Skeena also plans to expand its mining operations at its Snip mine, which is expected to increase production and revenue.
Impact on Individual Investors
For individual investors, Skeena’s strong financial performance and optimistic outlook could lead to increased demand for the Company’s stock. As a result, investors may see an increase in the stock price, leading to potential profits. However, it’s important to note that investing in the stock market always carries risk, and investors should carefully consider their own financial situation and risk tolerance before making any investment decisions.
Impact on the World
On a larger scale, Skeena’s financial success and expansion plans could have a positive impact on the global mining industry. The increase in gold and silver production could lead to a decrease in the price of these metals, making them more accessible to consumers and industries around the world. Additionally, Skeena’s exploration activities and expansion plans could create new jobs and economic opportunities in the communities where its mines are located.
Conclusion
Skeena Resources Limited’s strong financial performance and optimistic outlook for the future make it an exciting company to watch in the mining industry. With the potential for significant growth through exploration and expansion, Skeena could have a positive impact on both individual investors and the global economy. However, as with any investment, it’s important to carefully consider the risks and potential rewards before making any decisions.
- Skeena Resources Limited reports strong financial performance for Q4 and full year 2024
- Gold production increased by 32% to 121,000 ounces
- Silver production increased by 53% to 1.2 million ounces
- All-in sustaining costs per ounce of gold decreased by 12% to $743
- Expansion plans for Eskay Creek and Snip mine expected to increase production and revenue
- Positive impact on individual investors through potential stock price increases
- Positive impact on the global mining industry through increased production and economic opportunities
