Skeena Resources Limited (TSX: SKE, NYSE: SKE) reported quarterly losses of $(0.28) per share for the quarter ended June 30, 2026, missing the analyst consensus estimate of $(0.20) by 40 percent. The Vancouver-based precious metals development company’s results reflect a 9.68 percent increase in losses compared to $(0.31) per share in the same period last year.

Despite the wider-than-expected loss, management confirmed that the Eskay Creek Gold-Silver Project in British Columbia’s Golden Triangle remains fully permitted and under construction. Initial production and cash flow are still targeted for the second quarter of 2027.

Financial Performance

The company’s interim financial results highlight a deterioration in profitability compared to market expectations. While the absolute loss narrowed slightly year-over-year from $(0.31) to $(0.28), the miss against the consensus estimate signals higher-than-anticipated costs or lower-than-expected operational efficiencies during the quarter.

Project Status

Skeena Resources stated it is progressing Eskay Creek towards commercial production. The company aims to maximize the value of its mineral resources to generate long-term shareholder returns. Once operational, Eskay Creek is expected to be one of the world’s highest-grade and lowest-cost open-pit precious metals mines, with significant silver by-product production exceeding the output of many primary silver mines.

What the Numbers Show

The divergence between the reported loss of $(0.28) and the consensus estimate of $(0.20) indicates that execution costs or capital expenditures during the construction phase exceeded analyst models. Although the loss improved marginally from the prior year’s $(0.31), the 40 percent miss suggests that the path to cash-flow positive operations in 2027 may face tighter margin pressures than previously modeled by investors.

Financial Reporting

The interim financial statements and management’s discussion and analysis (MD&A) are available on Skeena’s website, on SEDAR+ at www.sedarplus.ca , and on EDGAR at www.sec.gov . Adrian Newton, P.Geo., Vice President of Exploration, served as the Qualified Person for the technical statements in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Skeena Resources Limited announced the appointment of Ryan Maloney as Vice President of Corporate Development and a member of the Executive Leadership Team, effective in the coming months. Maloney will oversee corporate strategy, growth initiatives, strategic partnerships, capital allocation, and engagement with capital markets. He brings over 10 years of institutional capital markets experience, most recently serving as Director, Mining Specialty Sales, Global Markets at BMO Capital Markets.

Justin Himmelright, Senior Vice President of External Affairs, will transition from the Executive Leadership Team to serve as a Strategic Advisor effective July 1, 2026. Himmelright played a key role in securing British Columbia’s first Section 7 Impact Benefit Agreement for the Eskay Creek Project. In his new role, he will continue to support government relations, policy matters, stakeholder engagement, and First Nations relations.

At the Annual General Meeting held on June 22, 2026, in Vancouver, British Columbia, shareholders approved the reelection of all Directors and the Company’s Rolling Omnibus Incentive Plan. The reappointment of KPMG LLP, Chartered Professional Accountants as auditor was also approved by over 99% of shareholders who voted. A total of 88,651,225 shares were voted, representing 71.5% of the common shares issued and outstanding at the record date.

Voting Results for Board of Directors

Shareholders approved the reelection of the following nominees:

Skeena is focused on advancing the Eskay Creek Gold-Silver Project in British Columbia’s Golden Triangle. The Project is fully permitted and under construction, with initial production and cash flow expected in the second quarter of 2027. Once operational, Eskay Creek is anticipated to be one of the world’s highest-grade and lowest-cost open-pit precious metals mines.