$SKE and $USAS: Weighing a Pre-Revenue Developer Against a Producing Silver Miner SKE is a pre-revenue gold-silver developer advancing the Eskay Creek project, while USAS is an already-producing silver miner with diversified by-products. SKE's relative performance has been driven by construction milestones and financing progress, whereas USAS's gains reflect record silver output and higher realized prices. USAS generates meaningful revenue and positive adjusted earnings, while SKE remains loss-making as it builds toward a targeted 2027 production start.