royalty collection companySo he died-TSX) has entered into a definitive agreement with fund entities managed by Orion Resource Partners LP and affiliates of Blackstone Inc. For a 3.52% gold stream at the Eskay Creek gold and silver project in British Columbia. The project is owned by Skeena Gold & Silver Resources Ltd. (It happened-TSX, It happened-NYSE) is located in the Golden Triangle region of British Columbia
Under the agreement, Versamet will pay $360 million, including $340 million in cash and $20 million in common stock. In exchange, Versamet is entitled to 3.52% of the gold production payable over the life of the mine, provided the mine achieves certain completion tests on or before September 30, 2027. The Gold Stream is non-specific, contains no buy-down or buy-out provisions and includes an area of interest.
Eskay is expected to produce an average of more than 300,000 ounces of gold per year during its first five years, and an average of approximately 230,000 ounces of gold per year during its initial 12-year life.
Versamet is a mid-tier startup specializing in precious metals equity and streaming, which has made $400 million in acquisitions since its launch in June 2022.
On Monday, Versamet shares advanced on the news, rising 8.5%, or $1.19, to $15.05. Shares are trading in a 52-week range of $43 to $7.00. Skeena fell 0.93%, or 40 cents, to $42.65. Shares are trading in a 52-week range of $53 to $12.15.
Versamet is a mid-tier startup specializing in precious metals equity and streaming, which has made $400 million in acquisitions since its launch in June 2022.
In November 2025, Versamet welcomed Tether Investments and Lundin Family Trusts as new primary shareholders. It said that Tether and Lundins each acquired 11.8 million common shares, representing approximately 12.7% of the company’s issued and outstanding shares. Tether and Lundins acted independently in their respective acquisitions.
In its latest press release, Versamet revealed other terms and conditions of the streaming deal. For example, if the completion tests are not met by September 30, 2027, the flow rate must increase to 3.57%, 3.62%, and 3.67% if completion is achieved in the first, second, or third quarter after September 30, 2027, respectively, and another additional 0.13% per quarter for the remaining calendar quarters until the completion tests are satisfied.
If a cumulative total of 2.61 million ounces of payable gold applied to the gold stream is not produced by April 1, 2024, Versamet will be entitled to a one-time gold delivery equal to the difference between the cumulative ounces of gold delivered to the gold stream at that time and the 2.61 million ounces. The gold stream is secured on the assets of the Eskay Creek project.
The closing of the transaction is subject to, among other things, the closing of Skeena’s $750 million senior secured notes offering and is expected to occur in the first half of 2026.
