On June 25, 2026, Goldsky Resources Corp. (GSKR:TSX.V) announced the closing of its acquisition of the remaining 55% interest in the Barsele gold project in Sweden.
Now holding 100% interest in the project, Goldsky's CEO, Russell Bradford, said: "We are very pleased to complete this transformational Barsele transaction, marking an exciting new chapter for Goldsky. We now look forward to advancing what is expected to be one of the largest drilling campaigns ever undertaken across the Barsele license. I would also like to welcome the Sweden-based team joining Goldsky as part of the transaction, whose expertise and knowledge of the extensive exploration and environmental work completed to date will be invaluable as we move forward."
The share purchase agreement was dated January 28, 2026, and was between Goldsky and Agnico Eagle Sweden AB, a wholly-owned subsidiary of Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE). The transaction included a cash payment of US$20 million and the issuance of 75.5 million common shares of Goldsky to Agnico Eagle. It also included the granting of a 2% net smelter return royalty on Barsele to Agnico Sweden. The company has also assumed Agnico Eagle's obligations under an existing 2% net smelter return royalty on Barsele in favor of Orex Minerals Inc. (REX:TSX.V).
Goldsky and Agnico Eagle have also entered into an investor rights agreement providing Agnico Eagle with certain participation, top-up, and board nomination rights, as well as demand and piggy-back registration rights on all customary terms. Nuvolari Capital Limited has been paid a finder's fee for the transaction, equal to an aggregate value of nearly CA$6.8 million and paid in a combination of cash and common shares.
Gold Prices Staying High
Junior miners and exploration companies hit the ground running this year after gold rallied at a high of US$5,500 per ounce in January. Many companies, like South Pacific, chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, rates are still up 24% compared to July 2025, and Gold.org wrote that: "[T]he stage is set for a possible breakout. On the upside, clear catalysts – a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold's momentum and lift it back towards US$4,500/oz or above."
Renewed tensions between the U.S. and Iran dropped gold prices on July 10, 2026, with the per-ounce price sinking to only US$4,104.30. Inflationary fears were reignited after Brent crude oil prices rose again after a several-week ceasefire between the two countries lost its stability.
In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."
On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.
Stock Gets an 'Overweight' Rating
On July 8, 2026, Jonathan Guy of Hannam & Partners gave Goldsky a target price of CA$8.50, implying a 167% upside in share price. Guy wrote: "Our SOTP for Goldsky is comprised of our base case DCF for Barsele, at a 0.50x NAV multiple to account for additional work and studies required."
For The Paydirt Prospector, Jeff Clark and Daniel Flynn held an "Overweight" rating on the company on July 9, 2026, writing: "Frankly, Barsele is unusually advanced for a project without a PEA — 2.15 Moz (million ounces) Indicated and Inferred, backed up by plenty of drilling and technical work. Putting real numbers on the project could surprise the market. Beyond that, Goldsky also has the wider Gold Line Belt and Rajapalot in Finland to drill and explore this year."
Streetwise Ownership Overview*
Goldsky Resources Corp. (GSKR:TSX.V)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 12/24/25 | FNM:TSXV | 1 | GSKR:TSXV | 1 |
| 12/10/25 | FNM:TSXV | 4 | FNM:TSXV | 1 |
| 03/20/24 | BME:TSXV | 1 | FNM:TSXV | 1 |
Catalysts Upcoming at Two Projects
According to the company's investor presentation, "significant project activity will generate continuous newsflow across 2026 and 2027." There is a planned CA$25 million study and project development program for 2026 at the Barsele project beginning in Q3. A Preliminary Economic Assessment (PEA) for the Rajapalot property in Finland is planned by the end of 2026.
An updated Mineral Resource Estimate (MRE) is also expected by the end of 2026 for both the Rajapalot and Barsele properties.
Ownership & Share Information1
Goldsky Resources Corp. has a market cap of CA$833.96 million, with 263.91 million shares outstanding. The company has a 52-week range of CA$1.28-CA$4.64.
Institutions own 4.28% of shares, while Strategic Investors own 31.40%. Management & Insiders own 1.39%, and the remaining 62.93% of shares are held by Retail.
Important Disclosures:
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Agnico Eagle Mines Ltd.
- Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
