SKE Skeena Resources Ltd

S&P Global Ratings raised its outlook on Skeena Resources to positive from stable while affirming its CCC+ issuer credit rating, citing continued progress at the Eskay Creek project in British Columbia, which was more than 70% complete as of Aug. 31, 2026. The project has advanced from roughly 50% completion when S&P assigned the rating in March, with recent work including crusher and conveyor installation and key processing equipment. Detailed engineering is about 92% complete. S&P expects Eskay Creek to begin production by late 2027 and potentially generate more than C$600M in annual operating free cash flow at steady-state production, based on high-grade deposits, low unit costs and a long-term gold price assumption of about $3,300 per ounce. The CCC+ rating continues to reflect Skeena’s limited operating history and exposure to risks that make it dependent on favorable business, financial and economic conditions. $SKE $SPGI