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:

The company noted that the results justify moving the deposit into an early position in the British Columbia's project's mining sequence.
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Joe Reagor, ROTH Capital Partners

"Seabridge Gold Inc. announced an increased resource estimate for the Iron Cap deposit at its KSM project. . .we believe that the increased estimate supports our inclusion of an exploration premium and that Iron Cap should have a meaningful impact on project economics."

Mike Kozak, Cantor Fitzgerald

"Incorporating the 20,341m completed over 18 holes drilled last year, Seabridge Gold Inc. has grown Iron Cap by 0.46 Moz Au and 177 Mlb Cu (Indicated) along with 7.45 Moz Au and 4.0 Blb Cu (Inferred). The resource increase has met management's target and should be sufficient to accelerate Iron Cap ahead of the Kerr and Sulphurets deposits in the mining sequence."

Dalton Baretto, Canaccord Genuity

"Seabridge Gold Inc. released an updated resource estimate for the Iron Cap deposit. . .both Indicated and Inferred categories have grown substantially, and the higher-grade core has been confirmed. Studies are now underway to sequence Iron Cap ahead of Kerr and Sulphurets, which should improve project economics as Iron Cap is closer to planned infrastructure and will require less development."

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Derek Macpherson, Red Cloud Klondike Strike Inc.

"Seabridge Gold Inc. has announced an upgraded resource at Iron Cap. . .as a result, the slight increase in higher-grade resources has positively impacted our estimates. As the company continues to improve the size and quality of its resources, this news continues to highlight its undervalued potential as it seeks a suitable joint venture partner."

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Chen Lin, What Is Chen Buying? What Is Chen Selling?

"Another miner that I have been adding lately is Seabridge Gold Inc. There are rumors that the company is working on a deal with majors to develop the KSM for a while, plus the stock has high leverage to gold; Seabridge just raised money in December."

Discoveries, 2019 exploration plans and financings fill the agenda for this gold explorer/developer that has the attention of numerous analysts.
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Derek Macpherson, Red Cloud Klondike Strike Inc.

"Seabridge Gold Inc.'s summer drill program at its Iskut property has identified another porphyry target close to surface; Iskut is only 30 km east of the company's KSM project, which hosts four porphyry deposits with Proven and Probable reserves of 39 Moz gold plus 10 Blb copper. These latest results support our view that Seabridge is positioning itself as a gold-copper developer to watch in a premier jurisdiction; we believe majors are taking notice."

A ROTH Capital Partners report discussed the new drill results.
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More Expert Comments

Experts Following This Company

Dalton Baretto – Canaccord Genuity
Mike Kozak, Analyst – Cantor Fitzgerald
headshot of Chen Lin
Chen Lin What Is Chen Buying? What Is Chen Selling?
headshot of Derek Macpherson
Derek Macpherson, VP Mining Analysis – Red Cloud Klondike Strike Inc.
Jim Marrone, Analyst – SingularResearch
headshot of Rick Mills
Rick Mills Ahead of the Herd
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners
headshot of Lawrence Roulston
Lawrence Roulston – WestBay Capital Advisors

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

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