Seabridge Gold Inc.

Seabridge Gold Inc. is designed to provide its shareholders with exceptional leverage to a rising gold price. From 1999 through 2002, when the gold price was lower, Seabridge acquired nine North American projects with substantial gold resources, including Courageous Lake and KSM. Subsequent exploration by Seabridge has significantly expanded its acquired gold resource base.

Seabridge considers each of its common shares to represent an indirect ownership interest in its reserves and resources. Our aim is to increase the value of this ownership interest by growing reserves and resources faster than shares outstanding. Project acquisitions, exploration and engineering programs are carefully designed and monitored to ensure that equity dilution required to fund these activities is more than offset by additional reserves and resources.

Seabridge is pursuing three value-enhancing strategies. First, the Company continues to search for gold projects in North America which would be accretive in terms of gold resources. Second, Seabridge funds exploration and engineering work considered likely to expand resources and upgrade them to reserves. Third, Seabridge sells or partners its projects when they reach the production stage, to limit risk and share dilution.

Expert Comments:

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Peter Krauth, Gold Resource Investor

"In Q2/22, expect a new KSM preliminary feasibility study from Seabridge Gold Inc., which could boost gold reserves, annual production and payback while reducing major capital expenditures. Next year we could see a possible joint venture with a major for the KSM project; the company should leverage higher if gold rises in 2022."

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Mike Kozak, Cantor Fitzgerald

"We highlight Seabridge Gold Inc., that offers the highest beta/torque to underlying gold prices given the leverage inherent in its massive KSM gold-copper project in British Columbia, Canada, containing total in situ resources of 235 Moz Au eq. . .precious metals are surging higher. . .gold and silver have reconnected with their historical positive correlation to inflation expectations."

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David Talbot, Red Cloud Securities

"Seabridge Gold Inc.'s updated prefeasibility study is anticipated in Q2/22 and is expected to incorporate the Snowfield acquisition into the greater KSM project. . .there is plenty of potential to enhance the project through an increase in reserves and production, which could potentially reduce payback and further defer capital expenditures associated with block caving should the open-pittable Snowfield and Mitchell deposits materially grow."

Mike Kozak, Cantor Fitzgerald

"Seabridge Gold Inc. released the first batch of assay results from the 2021 exploration program at its 100%-owned KSM project. . .highlight results include SF-21-05: 435m at 1.4 g/t Au eq (from surface), M-21-151: 445m at 1.31 g/t Au eq (from surface), and M-21-152: 312m at 1.25 g/t Au eq (from surface). . .an integrated mine plan is currently being evaluated by the company that will likely result in the lower-risk, at-surface Snowfield deposit displacing the underground block cave component of the mine plan."

headshot of Peter Krauth

Peter Krauth, Gold Resource Investor

"Seabridge Gold Inc. announced it sold its residual interest in the Red Mountain project in northwestern British Columbia for $18M to Sprott Resource Streaming and Royalty. It's a noncore asset, of which the company has sold $75M worth so far this year. . .very undervalued against its peers, Seabridge is a true bargain worth accumulating on weakness."

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Joe Reagor, ROTH Capital Partners

"Seabridge Gold Inc. announced that it had encountered low-grade gold mineralization at its Snowstorm project in some of the completed holes from this program. . .these low-grade intercepts could be an indication of a higher-grade gold deposit within the project. As a result, we are increasing our valuation of Snowstorm from $10M to $20M."

More Expert Comments

Experts Following This Company

Dalton Baretto, Analyst – Canaccord Genuity
headshot of Gary Baschuk
Gary Baschuk, Managing Director, Mining & Senior Geologist – PearTree Securities
Mike Kozak, Analyst – Cantor Fitzgerald
headshot of Peter Krauth
Peter Krauth, Pres – Gold Resource Investor
Jim Marrone, Analyst – SingularResearch
Lucas N. Pipes, Analyst – B. Riley Securities
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners
headshot of David Talbot
David Talbot, Analyst – Red Cloud Securities

Company News 

12/16/2021 – Seabridge Gold Publishes Inaugural Sustainability Report

11/18/2021 – Seabridge Granted Two Year Extension on KSM Environmental Assessment Certificate Due to COVID-19 Related Impacts

11/1/2021 – Seabridge Drilling Supports Integrating Snowfield into KSM Project

The information provided above is from analysts, newsletters, the company and other contributors.

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