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Barrick Gold selling its stake in Skeena Resources for nearly $132.5M

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Barrick Gold logo is seen during the company's annual general meeting in Toronto on Tuesday, April 28, 2015. Barrick Gold Corp. is selling its 13 per cent stake in Skeena Resources Ltd. for nearly $132.5 million. THE CANADIAN PRESS/Nathan Denette

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

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