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VANCOUVER - Skeena Resources Limited (TSX:SKE, NYSE:SKE), a mining company with a market capitalization of $1.91 billion, has decreased its ownership percentage in TDG Gold Corp. (TSXV:TDG) following a series of transactions, according to an early warning report filed Monday. According to InvestingPro data, Skeena’s stock has shown remarkable strength, gaining over 71% in the past six months.
Skeena acquired 6,666,667 shares of TDG Gold for C$4 million on July 14, purchasing the shares at C$0.60 each from several sellers who had acquired them in a flow-through share offering. The company maintains a strong financial position, with InvestingPro analysis showing liquid assets exceeding short-term obligations and a healthy current ratio of 2.6.
The purchase was part of broader transactions including TDG’s bought deal financing, which issued approximately 38.3 million shares across various classes, and TDG’s acquisition of Anyox Copper Ltd. Through the Anyox acquisition, TDG issued an additional 54,559,565 shares.
Prior to these transactions, Skeena owned 23 million TDG shares, representing approximately 12.78% of TDG’s outstanding shares. Following the transactions, Skeena now owns 29,666,667 shares, but its ownership percentage has decreased to approximately 10.88% due to the significant increase in TDG’s total outstanding shares.
Skeena indicated in its filing that the share acquisition was for investment purposes and that it may acquire additional securities, dispose of some or all of its holdings, or maintain its current position in TDG.
Skeena Resources is focused on developing the Eskay Creek Gold-Silver Project, a past-producing mine in British Columbia’s Golden Triangle region. The company operates with moderate debt levels and is currently trading near its 52-week high of $16.95. InvestingPro offers 12 additional investment tips and comprehensive financial metrics for Skeena Resources to help investors make informed decisions.
The information in this article is based on a press release statement from Skeena Resources.
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