01:02 PM EDT, 07/05/2024 (MT Newswires) -- Skeena Resources ( SKE ) shares rose nearly 6% in recent Friday trading following the company's legal victory over ownership of the mine waste material deposited in the Albino Lake Storage Facility.

The company said the former chief gold commissioner had ruled that the mine waste material from the Eskay Creek gold mine belonged to an individual holding a mineral claim on the land where the facility is located, a decision that was upheld by the Supreme Court of British Columbia.

Skeena had argued that it did not give up ownership of the mine waste material.

The company said the British Columbia Court of Appeal has overturned the decision of the former chief gold commissioner and supreme court.

The matter will now be referred back to the current Chief Gold Commissioner for a rehearing and reconsideration.

Price: 6.15, Change: +0.35, Percent Change: +5.95