Skeena Resources Ltd (SKE) saw its stock price soar 5.04% in pre-market trading on Tuesday, following the company's announcement of a significant financing initiative and a positive construction update for its flagship Eskay Creek project.

The company announced its intention to offer $750 million in senior secured notes due 2031. The proceeds are earmarked to refinance existing project financing, fund a partial buyback of its existing gold stream agreement, and advance the Eskay Creek project. Management stated this refinancing is intended to improve future operating margins, increase the company's exposure to gold prices, and enhance the overall project economics.

Concurrently, Skeena provided a construction update, confirming the Eskay Creek Gold-Silver Project is 49% complete and remains on schedule for initial production in the second quarter of 2027. The combination of securing favorable financing to strengthen the balance sheet and demonstrating steady project progress appears to have driven investor optimism.