TORONTO — Barrick Gold Corp. is selling its 13 per cent stake in Skeena Resources Ltd. for nearly $132.5 million.
The gold miner says a Canadian investment dealer has agreed to pay $15 per share for its 8.8 million shares in Skeena Resources and plans to resell them on a bought deal basis.
Skeena shares were down four cents at $15.74 in early trading on the Toronto Stock Exchange on Thursday.
Barrick says it is selling the shares for "investment portfolio management purposes."
Skeena Resources is a mining exploration and development company.
It owns the Eskay Creek gold-silver project in northwest British Columbia.
This report by The Canadian Press was first published March 24, 2022.
Companies in this story: (TSX:ABX, TSX:SKE)
The Canadian Press