Barrick Gold Sells $105.5M Stake In Fellow Canadian Miner

By Benjamin Horney (March 24, 2022, 2:00 PM EDT) -- Barrick Gold plans to sell its entire stake in fellow Canadian mining company Skeena Resources for a total of CA$132.5 million ($105.5 million), the companies said Thursday.

For Barrick Gold Corp., the sale of its more than 8.8 million common shares of Skeena Resources Ltd. — equivalent to a stake of roughly 12.9% — is being made for "investment management purposes," according to a statement. The identity of the buyer was not disclosed, other than it being referred to as a "Canadian investment dealer.". According to Thursday's statement, the unidentified buyer will look to resell the shares.

"Immediately following the closing...

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