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Investing.com - BMO Capital maintained its Outperform rating and Cdn$22.00 price target on Skeena Resources Ltd (TSX:SKE) following a site visit to the company’s Eskay Creek project earlier this week.
The research firm highlighted the "global scarcity value" of the Eskay Creek asset, describing it as a "world-class asset in development" that positions the company to potentially achieve stronger valuations similar to peers who have completed mine development.
BMO Capital noted impressive construction activity at the site during its visit, while also emphasizing progress on key development aspects including permitting, derisking the construction plan, and creating shareholder value through mine plan optimization.
The firm believes Skeena Resources is on a trajectory that could lead to improved valuations as the company advances the Eskay Creek project toward production, following the path of peer companies that have successfully completed mine development.
BMO Capital expects the market will "be monitoring progress at Eskay Creek very carefully" as the company continues to advance this key asset.
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