M&A Deal Summary

Skeena Acquires Barrick - Snip Property

On March 23, 2016, Skeena acquired metals/mining company Barrick - Snip Property from Barrick

Acquisition Highlights
  • This is Skeena’s 3rd transaction in the Metals/Mining sector.
  • This is Skeena’s 3rd transaction in Canada.
  • This is Skeena’s 2nd transaction in British Columbia.

M&A Deal Summary

Date 2016-03-23
Target Barrick - Snip Property
Sector Metals/Mining
Buyer(s) Skeena
Sellers(s) Barrick
Deal Type Divestiture

Target

Barrick - Snip Property

British Columbia, Canada
Barrick - Snip Property is a gold mine in northwest British Columbia. The property consists of one mining lease and four mineral tenures totalling approximately 1,932 hectares in the Liard Mining Division. The Snip mine produced approximately 1 million ounces of gold from 1991 until 1999 at an average gold grade of 25 g/t at a 12 g/t reserve cut-off.

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Buyer(S) 1

Buyer

Skeena

Vancouver, British Columbia, Canada

Category Company
Founded 1979
Sector Metals/Mining
DESCRIPTION

Skeena is a junior Canadian mining exploration company focused on developing prospective base and precious metal properties in the Golden Triangle region of northern British Columbia, Canada. The Company’s primary activities are the evaluation and development of the Spectrum gold project and adjacent GJ copper-gold project as well as exploration. Skeena was founded in 1979 and is based in Vancouver, Canada.


DEAL STATS #
Overall 3 of 6
Sector (Metals/Mining) 3 of 6
Type (Divestiture) 2 of 3
State (British Columbia) 2 of 5
Country (Canada) 3 of 6
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-06 GJ Copper-Gold Project

British Columbia, Canada

GJ Copper-Gold Project is comprised of 80 mineral claims totaling 37,508 hectares and is located adjacent to the eastern boundary of Skeena’s Spectrum Project (see map) in the Golden Triangle of northwest British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-29 Sona Resources

North Vancouver, British Columbia, Canada

Sona Resources Corp. is a junior resource company based in Vancouver, British Columbia, specializing in gold exploration, development and mining in North America. The Sona board of directors and management have decades of combined experience in the mineral exploration and mining industry, and in managing and financing junior exploration companies. Sona has engaged in exploration activities at its 100 percent owned mineral properties in Canada and the United States, as well as small-scale gold production at its flagship property, the Blackdome Gold Mine, in south-central B.C.

Buy -

Seller(S) 1

SELLER

Barrick

Toronto, Ontario, Canada

Category Company
Founded 1983
Sector Metals/Mining
Revenue 11.4B USD (2023)
DESCRIPTION

Barrick operates mines and advanced exploration and development projects on five continents, and holds large land positions on some of the most prolific and prospective mineral trends. Barrick was incorporated in 1983 and is headquartered in Toronto, Ontario.


DEAL STATS #
Overall 5 of 9
Sector (Metals/Mining) 4 of 8
Type (Divestiture) 5 of 8
State (British Columbia) 1 of 2
Country (Canada) 2 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-15 Timberline

Coeur d'Alene,, Idaho, United States

Timberline is a gold exploration and development company with its flagship gold-silver property in the Eureka District. The Eureka property includes the historical Lookout Mountain and Windfall mines in a total property position of approximately 27 square miles (70 square kilometers). Timberline was founded in 1968 and is based in Coeur d'Alene, Idaho.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 Randgold Resources

St. Helier, United Kingdom

Randgold Resources Ltd. is a gold mining company. Randgold has built 5 mines – all but one developed on deposits discovered by its own geologists, while the reserves of the fifth, Kibali, were more than doubled by the Randgold exploration team after its acquisition.

Buy $6.0B