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Skeena Resources is transitioning from a high-risk developer to a fully permitted, funded, mid-construction precious metals company targeting initial production in Q2 2027. The company secured all major permits, completed 49% of Eskay Creek construction, and raised US$750M in senior secured notes. Despite a 17.7% capex increase to US$659M, the stock offers a rare near-production re-rating opportunity with strong gold/silver leverage.
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