- Skeena Resources (TSX:SKE, NYSE:SKE) received a favorable ruling from the Supreme Court of Canada regarding the Albino Lake Storage Facility.
- The court dismissed appeals from Richard Mill and Orogenic Gold Corp., affirming Skeena's rights over the materials in question.
- The rehearing before a new Gold Commissioner is expected to conclude after Q4 2025.
Skeena Resources Limited (TSX:SKE, NYSE:SKE) has announced a significant legal victory following the Supreme Court of Canada's decision to dismiss appeals by Richard Mill and Orogenic Gold Corp. This ruling upholds the July 2024 judgment by the B.C. Court of Appeal, which determined that Skeena did not relinquish ownership of materials stored in the Albino Lake Storage Facility to the province. This judgment strengthens Skeena's stance in the ongoing ownership dispute over mineral rights at the Eskay Creek project.
The B.C. Court of Appeal had previously concluded that the province was not in a position to grant ownership rights to Mill when he received the mineral claim over the Albino Lake area in 2017. With the Supreme Court's dismissal of the appeals, Skeena Resources can now proceed to a rehearing before a newly appointed Gold Commissioner, although this process is not anticipated to complete before the fourth quarter of 2025.
It is important to note that the materials in the Albino Lake Storage Facility are not included in Skeena's current mineral resource or reserve statements, nor in the November 2023 Definitive Feasibility Study for the Eskay Creek Project. This suggests that while the legal victory is significant, it may not have an immediate financial impact on the company's reported resources.
For Skeena, resolving this legal dispute is crucial as it provides the company with greater certainty in asserting its rights over the disputed materials. This allows management to focus more on the project development aspects of the Eskay Creek project, which is projected to be one of the highest-grade and lowest-cost open-pit precious metals mines globally.
Skeena Resources remains committed to sustainable mining practices and fostering positive relationships with Indigenous communities, as reflected in its partnerships and strategic development plans in British Columbia’s Golden Triangle.
