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.
Seabridge Gold recently completed an updated Preliminary Feasibility Study for its 100% owned KSM Project located in British Columbia, Canada capturing 47.3 million ounces of gold, 7.3 billion pounds of copper and 160 million ounces of silver in proven and probable reserves. The study projects a 33 year open-pit only mine life generating an after tax net present value (at 5%) of US$7.9 billion and a life of mine total cost (including all capital, reclamation and closure costs) of US$601 per ounce of gold produced after base metal credits. Over the 33 year mine life, average annual metal production is estimated at 1.0 million ounces of gold, 178 million pounds of copper and 3.0 million ounces of silver.
Seabridge Gold Inc. is a billboard sponsor of Streetwise Reports and paid a fee for this company profile page.
Please refer to the important disclosures below for additional details.
After issuing its annual corporate Report Card for its 2024 goals last month, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) is now looking ahead and setting 16 objectives for 2025. Find out why two analysts are raising their target price on the stock.
The developer will use the financing proceeds, in part, to continue feasibility study work on its "world-class, long-life, large-scale" polymetallic project in British Columbia, noted an RBC Capital Markets report.
This is "highly encouraging" given this Canadian mining firm seeks a joint venture partner on its feasibility-stage project, noted a Cantor Fitzgerald report.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) issues its annual corporate Report Card based on 15 goals in 2024. Find out what one analyst thinks is "the most important catalyst for the stock" this year.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) closes on its bought deal offering and a separate agreement with a strategic investor for a total of US$100 in financing. Read why an analyst is optimistic about the company's main asset after it reached an important milestone last year.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) enters into a bought-deal financing and a separate agreement with a strategic investor for a total of US$100 million as it works to push its massive flagship KSM Project in British Columbia forward. Find out which expert thinks the company is a "BIG" idea for exposure to gold and copper.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced the results from six remaining drill holes from its 2024 campaign on its Iskut Project in British Columbia's Golden Triangle. One expert says the company is a way to get "BIG" exposure to gold and copper.
The effect of a second petition filed in the British Columbia Supreme Court challenging the "substantially started" (SS) designation of Seabridge Gold Inc.'s (SEA:TSX; SA:NYSE.MKT) KSM Project is "neutral," Red Cloud Analyst Taylor Combaluzier writes. The analyst says the company plans to aggressively defend itself."
A second petition has been filed in the British Columbia Supreme Court seeking review of Seabridge Gold Inc.'s (SEA:TSX; SA:NYSE.MKT) KSM Project's "Substantially Started" (SS) designation. But one analyst says the company's key possible catalyst remains finding a partner for the Golden Triangle project.
A challenge of Seabridge Gold Inc.'s (SEA:TSX; SA:NYSE.MKT) "Substantially Started" (SS) status for its KSM project in British Columbia is not "a significant risk to the project or the designation," RBC Capital Markets Analyst Michael Siperco writes. The company continues to look for a possible partner for its massive Golden Triangle project.
An indigenous group has filed a petition seeking review of the "Substantially Started" designation given to Seabridge Gold Inc.'s (SEA:TSX; SA:NYSE.MKT) massive KSM Project in B.C.'s Golden Triangle. One analyst, however, says the challenge is not a "significant risk" to the project's status.
Cantor Fitzgerald hosts Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) for a one-day institutional marketing non-deal roadshow in New York. The company says its focus remains on finding a JV partner for its massive KSM project in British Columbia.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) has filed its interim financial statements for the three-month period ending September 30. Read why an analyst thinks milestones reached by the company this year are setting it up for success.
Seabridge Gold Inc. announces results from the first phase of its exploration drilling on its Iskut project in northwest British Columbia's Golden Triangle, generating "broad widths of important gold and copper grades."
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) has received a renewed license from the British Columbia government for tunnels it plans to build at its 100%-owned KSM Project in the province's Golden Triangle. One analyst says the event helps derisk the project as Seabridge looks for a partner.
To move away from the U.S. dollar, developing countries and investors continue flocking to gold. This, in combination with certain economic factors, could be the perfect catalyst for a long gold bull market, one expert says.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) files its interim financial statements, showing a net profit of CA$45.2 million in the second quarter. Finding a partner for its massive KSM Project in the Golden Triangle is the company's top goal right now.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) says its core drilling program at its 3 Aces project in the Yukon is expanding known mineralized zones in the Central Core Area (CCA) and identifying new targets.
This should further derisk the asset and support the company's efforts to attract a potential joint venture partner to advance it, noted a Red Cloud Securities report.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced it has received its "substantially started" designation from the British Columbia government for its 100%-owned KSM project in the province's Golden Triangle. Analysts say the development is a major derisking milestone for the company.
The gold market usually follows its seasons, and Michael Fox, publisher of The Prospector, has seen many of them. But this year, gold's continued rise has bucked market tradition.
In light of Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) releasing an updated resource estimate, the company has maintained its Outperform rating and was given a target price 117% higher than the price at the time of the report.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced its first mineral resource estimate (MRE) for the Bronson Slope deposit at its 100%-owned Iskut project in northwest British Columbia's Golden Triangle. See why experts think this could be the time to invest in the yellow metal.
After rising to a new all-time last month, the price of gold has settled some, but experts' predictions of a lasting gold bull market have not. One investment bank says a structural shift in the foundation of the gold market could be shifting levels higher.
Seabridge Gold Inc. announced it has started its 15,000-meter core drilling campaign at its 100%-owned Iskut property in northwest British Columbia's Golden Triangle. Find out why one expert says the stock should be one of your core holdings.
Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced the release of its 2023 Sustainability Report, in which it noted advancements in diversity and safety in the company. Find out why one newsletter writer says its flagship project is "world-class."
Seabridge Gold Inc. sharing its highlights and financials for the quarter ending March 31 with shareholders. Find out why the company believes its shares are literally worth gold "in the ground."
This Canadian company has a robust plan for its project in the Yukon as it looks toward a mineral resource estimate. Read on to learn why experts like this owner of multiple assets.
Seabridge Gold Inc. announced a 15,000-meter core drilling campaign for this year at its 100%-owned Iskut property in northwest British Columbia's Golden Triangle. Find out why one newsletter writer says this company should be a core holding in your portfolio.
Seabridge Gold Inc. announces its top 15 goals to be measured in its corporate Report Card for 2024. Finding a joint venture partner for its KSM project is at the top of the list.
Seabridge Gold Inc. recently put out a report card, detailing which of its 2023 goals were met, and shared information about upcoming catalysts, including a potential JV partner.
Seabridge Gold Inc. announces it has filed a new technical report for its 100%-owned Courageous Lake project in the Northwest Territories that makes the operation "considerably more sustainable and profitable." Read why at least one analyst agrees.
Seabridge Gold Inc. has updated a three-dimensional view of its 3 Aces project in the Yukon Territory as it looks for continuous gold mineralization. See why one newsletter writer is "table-pounding bullish" on the company.
This is another of the Canadian company's steps taken toward making its massive copper-gold project attractive to prospective partners, noted a Cantor Fitzgerald report.
Seabridge Gold Inc. releases updated mineral resource estimates for deposits at its massive KSM gold and copper project in British Columbia. See why one analyst said the move "makes sense."
Seabridge Gold Inc. has applied for "substantially started" status for flagship KSM project in the Golden Triangle. One analyst has noted KSM could be a "top-five annual gold producer."
A new prefeasibility study proposes an operation that is smaller but with better economics than the one outlined in 2012, noted a Cantor Fitzgerald report.
Seabridge Gold Corp.'s application for "substantially started" status for its KSM project in British Columbia has been submitted, according to RBC Capital Markets.
Recently, Seabridge Gold announced positive results from its Snip North target at the Iskut project in British Columbia's Golden Triangle, noted a Red Cloud research note.
Mining is a competitive industry, with firms often actively seeking to undermine and take over each others' claims and approvals. Seabridge Gold Inc. recently announced that it was able to defeat one such attempt.
Recently, Seabridge Gold Inc. announced Tudor Gold's request to cancel its license of occupation and permit was not victorious, reported Red Cloud analysts Taylor Combaluzier and David A. Talbot in a November 21 research note.
This company is planning to submit its application early next year for the "substantially started" designation for its flagship project in the Golden Triangle. One newsletter write says this mine could become an "anchor project" for copper and gold worldwide.
Seabridge Gold Inc. is picking up more interest from analysts and newsletter writers, including an analyst who says its flagship project would be a "top-five annual gold producer" at full production.
The mining company is developing and seeking a partner to advance its large-scale, British Columbia mine offering long-term upside potential, noted an RBC Capital Markets report.
This gold company has filed its report to shareholders and management's analysis for the second quarter. Find out why one analyst says it has a "clear vision" for a potential partnership agreement.
This company has begun a formal process to search for suitable companies to partner with, and several have put boots on the ground at the explorer's projects.
Seabridge Gold Inc. files its second-quarter report and earnings for the three-month period ending June 30, and says it has engaged a firm to help it search for joint venture partners at its flagship property.
Two firms are at odds over permissions allowing one of them to build tunnels in an area where the other one owns mining claims, noted a Red Cloud Securities report.
This gold company announced it has restructured and closed on the sale of a US$150 million note and royalty agreement as it works to get the attention of possible buyers or joint venture partners.
Several analysts agree that this gold company with a large British Columbia resource is a Buy and that it's in a great position for possible joint ventures.
Seabridge Gold Inc. is preparing for drill testing of its comprehensive exploration model at its 100%-owned 3 Aces project in the Yukon Territory, which the company believes could be a world-class deposit.
Seabridge Gold Inc. is raising US$150 million from Sprott Resource Streaming and Royalty Corp. in exchange for a 1.2% net smelter return (NSR) royalty on production at its KSM project in British Columbia.
The US$150 million Seabridge Gold Inc. will receive from this deal will be used to finish physical work at the site that Kozak expects "will support Seabridge achieving the "substantially started" project designation well before the July 2026 date required by the B.C. government to keep its Environmental Assessment Certificate (EAC) valid for the life of the project," noted a May 12, Cantor Fitzgerald report.
This mining firm advanced this project, "in a league of its own," to the "substantially started" stage to enhance its attractiveness to prospective players, noted a B. Riley Securities report.
Seabridge Gold Inc. has received the assay results from its limited drill program at its 3 Aces project in Yukon. The company will explore the site deeper this year.
This property, near the company's flagship and one of the world's largest gold-copper projects, returned drill results that warrant following up, noted a Cantor Fitzgerald report.
Seabridge Gold Inc. sees a net profit in the third quarter as it continues to advance its flagship KSM project in British Columbia's Golden Triangle and drill at its 3 Aces project in the Yukon Territory.
Seabridge Gold Inc. has received its permit and started drilling at its 3 Aces project in the Yukon. It plans to expand its exploration of the site in 2023.
One analyst says the work Seabridge Gold Inc. is putting in to get a permanent environmental certification could help it attract a large-tier partner in British Columbia’s Golden Triangle.
A project site visit revealed the explorer is working to achieve this goal, necessary for an environmental certificate extension, Cantor Fitzgerald noted in a report.
The new figure takes into account recently determined economics and upside of the world's largest undeveloped gold project along with future precious metals prices, noted a ROTH Capital Partners report.
A simpler open-pit only mine plan for Seabridge Gold’s massive KSM copper-gold project in northern B.C. could attract a joint-venture partner. But it might not be the company you think.
The study is expected to reflect improved project economics, afforded by updated resources and synergies between the incorporated deposits, noted a Singular Research report.
The upgrading of resources from Inferred to Measured and Indicated "should allow the company to demonstrate improved economics compared to [its] previous prefeasibility study," noted a ROTH Capital Partners report.
Given current geopolitical conflicts and rising inflation, investors should put their capital in precious and base metals as they are excellent stores of value during times like this, Ross Beaty said at a March 2022 mining industry event.
With a recent agreement for greener electricity, this company has abandoned its previous plan to use diesel-generated power for its mining project, noted a Red Cloud Securities report.
A gold mining company enters into two agreements for funding and power, helping to advance and de-risk one of its projects, noted a ROTH Capital Partners report.
Seabridge Gold recently announced drill results from nine holes at its KSM property in British Columbia. ROTH Capital Partners noted in a research note that the company intends to complete a new PFS for the project that could prove to be a strong future catalyst for the company. ROTH Capital Partners currently has a "Buy" rating and US$27 price target for Seabridge Gold.
"A joint venture partnership would arguably be the single largest and most important derisking event in Seabridge Gold's history and as such, the upside ahead of a partnering event is potentially massive," noted a Cantor Fitzgerald report.
In this broadcast, host Cyndi Edwards interviewed metals expert Matt Badiali who discussed a gold company he is watching that is also a green energy play.read more >
In a StreetSmart Live! Broadcast on Jan. 7, Rick Rule of Sprott Inc. and Rudi Fronk, chairman and CEO of Seabridge Gold, address the future of the gold price and precious metals assets and discuss Seabridge, its Snowfield acquisition and its KSM project.read more >
Seabridge Gold reported net income of CA$5.0 million in Q3/20 and ended the quarter with one of the strongest working capital positions in its 21-year history.read more >
Seabridge Gold reported that its 2020 drill program identified a potentially large gold-copper porphyry system at its Iskut project located near Stewart, British Columbia.read more >
Seabridge Gold will carry out geotechnical drilling in the proposed area for the tunnel that will connect the mine and mill at its KSM gold-copper project.read more >
Seabridge Gold reports that it expects the technical report update on one of its B.C. projects to be completed as scheduled, in 30–45 days.read more >
Expert Comments:
Taylor Combaluzier, Red Cloud Securities
(3/13/25)
"Seabridge Gold Inc. announced a list of 16 objectives that the company plans to achieve in 2025. The top pending objective is the formation of a joint venture with a major mining company. . .linking management's compensation with the progress achieved on these objectives aligns its interest with that of shareholders."
Chris Temple, The National Investor
(3/7/25)
"At the Iskut project to the west of KSM, Seabridge Gold Inc. recently discussed the remainder of its 2024 drilling and plans for 2025 to, among other things, define an initial resource later this year. The belief is that Iskut could well host a KSM analogue."
Robert Sinn, Goldfinger
(3/5/25)
"West Red Lake Gold Mines Inc. is a near-term production story that is set to get a lot more attention as mining ramps up at the Madsen mine in Red Lake over the next several months. The company was able to close a CA$20M financing recently."
Nick Giles, B Riley Securities
(2/27/25)
"There are very few comparable developments today to Seabridge Gold Inc.'s KSM, especially with all three metals combined in one location. . .the economies of scale and tier 1 jurisdiction make for very attractive net economics and should ultimately translate to a joint venture partner."
Jay Taylor, Gold, Energy & Tech Stocks
(2/26/25)
"Seabridge Gold Inc.'s KSM project in British Columbia is in a class of its own. . .KSM is an absolute monster copper and gold deposit!"
"Seabridge Gold Inc. is currently engaging with a short list of potential joint venture partners for the
massive KSM project. . .as an optionality bet on rising gold prices, the company remains a Buy."
More Expert Comments
Mike Kozak, Cantor Fitzgerald
(2/20/25)
"It is highly encouraging to see strategic investor interest in Seabridge Gold Inc. and its 100%-owned massive KSM gold-copper project. We continue to believe the company will be successful in signing a joint venture agreement with a major mining company on project-accretive terms."
Michael Siperco, RBC Capital Markets
(2/19/25)
"Funding is in place for Seabridge Gold Inc. to continue early works, including items that could make the KSM project increasingly attractive to a partner, the key catalyst for the stock. We see a potentially improving macro/investment environment (with a renewed global focus on resources) as supportive for the stock, with significant leverage to still higher prices ahead of further project advancement."
Jay Taylor, Hotline
(2/14/25)
"Seabridge Gold Inc. expects to raise aggregate gross proceeds of approximately US$100M (equivalent to approximately CA$143M) between both the offering and the private placement. . .the move to raise funding of this magnitude suggests the company is confident in moving the KSM project forward."
Jay Taylor, Gold, Energy & Tech Stocks
(1/31/25)
"Seabridge Gold Inc. reported that it is expanding its Snip North target and is preparing to initiate resource definition drilling there. . .the company's Snip project, which is also a world-class prospect albeit not quite as large as KSM, gives investors ongoing news flow and something to look forward to."
Jay Taylor, Hotline
(1/24/25)
"Results of the six remaining holes from the 2024 drill program at Snip North from the 2024 drill program at Seabridge Gold Inc.'s Iskut project continued to define copper and gold mineralization over extensive widths. Continuous mineralization is now recognized across a strike length of approximately 2,000m and a dip projection of at least 600m."
Red Cloud Securities
(1/7/25)
"Our higher gold and silver price assumptions and adjusted valuation multiples have increased our target on Seabridge Gold Inc."
"KSM continues to make Seabridge Gold Inc. one of the better optionality plays in in the sector. For its long-term potential in that respect, the company remains a Buy."
Taylor Combaluzier, Red Cloud Securities
(11/26/24)
"Seabridge Gold Inc. had spent CA$444M and completed or initiated construction on 94 of the 336 components of the KSM project as described in its environmental assessment certificate. KSM also has the support of the three largest Indigenous peoples in the area of the project (including the Nisga'a, Tahltan and Gitxsan) as well as numerous municipalities in the region (including Terrace, Smithers, Hazelton, Stewart and others)."
Mike Kozak, Cantor Fitzgerald
(11/21/24)
"Seabridge Gold Inc.'s primary focus remains on securing a joint venture (JV) partnership with a large-cap gold or copper miner, which management expects to complete in the near term. . .the potential copper JV partners [are] considering future production expansion scenarios at KSM."
Jay Taylor, Hotline
(11/15/24)
"With 42.3 Moz of gold, 7.3 Blb of copper and 160 Moz of silver, Seabridge Gold Inc.'s KSM is a project for a handful of major gold and/or gold and base metal major world-class mining companies. . .I think it is just a matter of time before one of the world's largest miners steps into this story."
Jay Taylor, Gold, Energy & Tech Stocks
(10/31/24)
"Seabridge Gold Inc.'s KSM project is 'beyond world class.' It is now moving forward in the permitting and infrastructure phase of entertaining major gold and/or base metal suitors."
Ventum Capital Markets
(10/24/24)
"Seabridge Gold Inc.'s KSM is one of the world's largest undeveloped gold projects in terms of reserves and resources. . .the company is seeking a joint venture partner to help fund, build and operate the project."
Jay Taylor, Hotline
(10/11/24)
"While Seabridge Gold Inc.'s main focus is on its enormous world-class KSM project, it does have other
projects of considerable value that would be the envy of most junior exploration companies. The Iskut project is certainly one of them."
Taylor Combaluzier, Red Cloud Securities
(10/10/24)
"All three initial holes from Seabridge Gold Inc.'s Iskut project intersected broad gold-copper intercepts within a large mineralized potassic alteration system, with highlights of: 1) 0.75 g/t Au and 0.10% Cu (SN-24-17), 2) 0.49 g/t Au and 0.13% Cu (SN-24-18) and 3) 0.48 g/t Au and 0.10% Cu (SN-24-20). . .we continue to believe that drilling is revealing strong indications that a deeper, higher-grade porphyry source is present at Snip North."
"Not only is Seabridge Gold Inc. beginning to see share price advances as an optionality play, but at current gold prices, stories like this become economic. . .the company continues to be a Buy."
Jay Taylor, Hotline
(9/27/24)
"The Mitchell Treaty Tunnels are the two 23 km-long parallel tunnels planned to connect the east and west sides of Seabridge Gold Inc.'s KSM project mine site. . .construction of the tunnels, for which a license has been granted, would be the last major infrastructure piece to move the company's monster project toward production."
"Seabridge Gold Inc. got more good news on the permitting front in September, with the British Columbia government providing the company with a 20-year extension on its license of occupation for the Mitchell Treaty Tunnels. [They] are critical to the development of Seabridge's KSM deposit."
Taylor Combaluzier, Red Cloud Securities
(9/4/24)
"Our higher gold and price assumptions have increased our target on Seabridge Gold Inc."
Jay Taylor, Gold, Energy & Tech Stocks
(8/31/24)
"I believe Seabridge Gold Inc.'s KSM project will be in play for acquisition and/or joint venture agreements by major gold and/or copper mining companies. A second major project is Courageous Lake, which hosts 11 Moz gold."
Jay Taylor, Hotline
(8/23/24)
"I believe the Seabridge Gold Inc. story will soon capture some serious attention from major gold and/or base metal miners. . .the fact that because KSM is not a gold only project but is also a world-class copper deposit opens the door to any number of major gold and copper producers for a joint venture with the company or an outright purchase from Seabridge."
"Seabridge Gold Inc. has been perhaps the highest profile optionality play in the market for years, yet it has now become a highly economic project at current gold prices. The market has yet to realize this and appropriately value the company. . .I continue to like it a lot for the environment I see ahead."
"Seabridge Gold Inc. is the ultimate gold bug stock, holding 183 Moz of gold across all resource categories. With shares outstanding of 89M, that means the company controls more than 2 oz of gold per common share; that's much more than any other company on the planet."
Taylor Combaluzier, Red Cloud Securities
(7/29/24)
"We view the substantially started designation of Seabridge Gold Inc.'s KSM project very positively and believe it is a significant milestone for the company. The status should help derisk the project and support Seabridge's efforts to attract a potential joint venture partner."
Michael Siperco, RBC Capital Markets
(7/26/24)
"We see the ['substantially started'] designation as a key derisking event for Seabridge Gold Inc., received well ahead of the deadline in 2026, and a positive catalyst for the stock as the company continues to seek a partner for development of KSM. . .management is seeking a senior producer that could provide funding through feasibility and a construction decision, with an option to acquire control."
Mike Kozak, Cantor Fitzgerald
(7/26/24)
"Seabridge Gold Inc. has received the 'substantially started' designation from the British Columbia (Canada) provincial government for its 100%-owned massive KSM gold-copper project. This is a substantial derisking milestone for the company as it confirms the validity of the environmental assessment certificate over the life of the KSM project."
Michael Siperco, RBC Capital Markets
(7/3/24)
"Seabridge Gold Inc. is well-positioned to advance the world class, long life, large scale KSM project. . .the company is seeking a partner for investment in further studies and construction. Seabridge offers a large, liquid investment for levered exposure to gold and copper, with minimal company-specific operating risk at the predevelopment stage."
Taylor Combaluzier, Red Cloud Securities
(6/28/24)
"We view the updated mineral resource estimate for the Bronson Slope deposit, part of Seabridge Gold Inc.'s Iskut project, positively. . .the company remains focused on identifying a deeper porphyry source to the epithermal mineralization found at Bronson Slope and Snip North."
Mike Kozak, Cantor Fitzgerald
(6/13/24)
"Having one of the largest copper-gold projects globally, Seabridge Gold Inc. is actively looking for a large-tier mining company to partner with KSM, complete a feasibility study and begin construction more broadly."
Mike Kozak, Cantor Fitzgerald
(4/29/24)
"Seabridge Gold Inc. offers among the highest torque to underlying gold prices given the leverage inherent in the company's massive KSM gold-copper project in British Columbia, Canada, containing total in situ resources of 264 Moz Au eq. With CA$80M in cash following a stream sale to Sprott and investment from Ontario Teachers' Pension Plan, Seabridge is very well funded."
Taylor Combaluzier, Red Cloud Securities
(4/12/24)
"Seabridge Gold Inc. provided a list of 15 objectives it plans to achieve in 2024. . .in our view, this set of
objectives outlines a clear path forward and priorities for the company. Linking management's compensation with the progress achieved on these objectives aligns its interest with that of shareholders."
Chris Temple, The National Investor
(4/1/24)
"Not a one trick pony, Seabridge Gold Inc.'s flagship KSM project in British Columbia is in play now for all the global majors, whether they want gold or copper as the primary product for decades to come. And besides KSM's 47+ Moz of gold in the Proven and Probable (2P) reserve category, it also boasts 7.3 Blb of copper in the 2P category."
Taylor Combaluzier, Red Cloud Securities
(3/4/24)
"Upcoming catalysts for Seabridge Gold Inc. are KSM development updates (ongoing), a potential joint venture with a major partner and drilling at Iskut and 3 Aces (ongoing)."
Taylor Combaluzier, Red Cloud Securities
(2/15/24)
"Seabridge Gold Inc. reported the results from the ~7,800m 2023 reverse circulation drill program completed at its 100%-owned 3 Aces gold project. . .highlights include 0.81 g/t Au over 111.2m (3A23-381) from the Clubs zone and 7.59 g/t Au over 7.2m (3A23-377) from the Hearts W zone."
Taylor Combaluzier, Red Cloud Securities
(2/6/24)
"Seabridge Gold Inc. announced updated mineral resource estimates for its Iron Cap and Kerr deposits at its 100%-owned KSM project. . .this is another step taken by the company to get the KSM project ready for a potential joint venture partner."
Mike Kozak, Cantor Fitzgerald
(2/5/24)
"Seabridge Gold Inc. updated the mineral resource estimates at the Kerr and Iron Cap deposits, part of its 100%-owned massive KSM gold-copper project. . .Measured & Indicated and Inferred resources on a consolidated basis increased by about 13% and about 9% at the Kerr and Iron Cap deposits, respectively."
Taylor Combaluzier, Red Cloud Securities
(1/18/24)
"Seabridge Gold Inc. announced that it has applied to the British Columbia Environmental Assessment Office for substantially started status for its 100%-owned KSM project. . .the substantially started status would allow KSM's current environmental assessment certificate to remain in effect for the life of the project, which otherwise would expire on July 29, 2026."
Taylor Combaluzier, Red Cloud Securities
(1/17/24)
"We view the updated prefeasibility study (PFS) on Seabridge Gold Inc.'s Courageous Lake positively as there has been a marked improvement in key parameters to make the project more economically attractive, including a lower capital intensity of the design, an improved strip ratio and higher gold grade, as compared to the 2012 PFS. We believe the smaller mine footprint should facilitate a simpler permitting process."
Mike Kozak, Cantor Fitzgerald
(1/16/24)
"Seabridge Gold Inc. reported solid prefeasibility study (PFS) results at its 100%-owned Courageous Lake open-pit gold project. . .the PFS returned an after-tax project NPV5% of $523M and an IRR of 21% at a gold price deck of $1,850/oz."
Taylor Combaluzier, Red Cloud Securities
(12/21/23)
"We view Seabridge Gold Inc.'s initial drill results from Bronson Slope positively given the strong indications of a deeper, porphyry source to the breccia and intermediate sulfidation mineralization. Coupled with the results at Snip North, we believe that Iskut may be underlain by a large porphyry system."
Mining.com
(12/20/23)
"Seabridge Gold Inc. has expanded the known Bronson Slope gold-copper deposit at its Iskut project. . .the best hole, SGS-23-11, returned 6.36 g/t gold, 0.02% copper and 4.7 g/t silver over 10m. The same hole also intersected 0.61 g/t gold over 171m and 0.45 g/t gold over 66.5m."
Mike Kozak, Cantor Fitzgerald
(12/14/23)
"Seabridge Gold Inc. reported assay results from the maiden drill program at the Snip North target, part of its 100%-owned Iskut property. . .the program totaled six holes (5,184m) with five returning encouraging near-surface mineralization over wide intervals, confirming the discovery of a new porphyry target."
Taylor Combaluzier, Red Cloud Securities
(11/21/23)
"Seabridge Gold Inc. announced that Tudor Gold's July 2023 request to cancel a license of occupation and permit held by Seabridge for its flagship KSM project in British Columbia was not successful. . .this outcome is in line with our view that this was an opportunistic move by Tudor."
Mining.com
(11/20/23)
"Seabridge Gold Inc. wins round one of its tussle with Tudor over the KSM license. . .the British Columbia Ministry of Water, Land and Resource Stewardship confirmed there is no basis to cancel the license under the provisions of the relevant legislation or the terms of the license."
Jefferson Research
(10/19/23)
"Seabridge Gold Inc. is showing strong operating efficiency and valuation. . .the company's overall rating improved in Q2/23."
Michael Siperco, RBC Capital Markets
(9/18/23)
"Seabridge Gold Inc. has begun to accelerate development of the world-class, large-scale, 100%-owned KSM gold/copper project in the Golden Triangle region of northern British Columbia, with a new, streamlined study. . .we are initiating coverage at Outperform."
Dan Amoss, Jim Rickards' Strategic Intelligence
(7/11/23)
"Seabridge Gold Inc. closed on the sale of a $150M secured note to Sprott Resource Streaming and Royalty. . .this is the second such transaction and moves the KSM project's development timetable forward in a manner that minimizes dilution of Seabridge shareholder claims."
David Talbot, Red Cloud Securities
(5/12/23)
"The $150M funding should enable Seabridge Gold Inc. to complete the switching station and work required to connect KSM to BC Hydro's Northern Transmission Line; it should also shorten the construction period once a construction decision is made. . .this work would further derisk KSM and should help the company with its ongoing efforts to secure a major joint venture partner."
Mike Kozak, Cantor Fitzgerald
(5/12/23)
"Seabridge Gold Inc. is raising US$150M (CA$200M) from Sprott Resource Streaming and Royalty via the sale of a 1.2% net smelter return royalty on all future metals production at its KSM gold-copper-silver-molybdenum project. We have a favorable view of this transaction as it removes a significant financing overhang in a way that is not equity dilutive to shareholders."
Rick Mills, Ahead of the Herd
(4/21/23)
"Seabridge Gold Inc.'s Kerr-Sulphurets-Mitchell (KSM) copper-gold-silver porphyry and its estimated mineral content are spectacular; Sulphurets' 199 Moz gold and 790 Moz silver make KSM the largest undeveloped gold deposit in the world. It also has 51 Blb contained copper."
Lucas N. Pipes, B. Riley Securities
(4/20/23)
"We believe Seabridge Gold Inc. has a clear vision for a potential partnership agreement. . .the company's KSM is the world's largest undeveloped gold project by reserves and resources with substantial copper byproduct credits. . .the asset is now ripe for third-party validation. We maintain our Buy rating."
1/21/2025 – Seabridge Gold Expands Iskut's Snip North Target and Prepares to Initiate Resource Definition Drilling in 2025
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