Barrick Gold (ABX) is selling its 13% stake in Skeena Resources (SKE) for $132.5 million.
The gold miner says a Canadian investment dealer has agreed to pay $15 each for its 8.8 million shares in Skeena Resources and plans to resell them on a bought deal basis.
Skeena shares fell four cents to $15.74 on the Toronto Stock Exchange on news of the Barrick Gold sale.
Barrick says it is selling the shares for “investment portfolio management purposes.”
Skeena Resources is a mining exploration and development company that owns the Eskay Creek gold-silver project in northwest British Columbia.
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