Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Gold Co. May Continue With License
Research Report

View Important Disclosures for this Article
Share on Stocktwits


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.

Recently, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) reported that Tudor Gold Inc.'s (TUD:TSX.V) request to cancel Seabridge's license of occupation and permit was not victorious, reported Red Cloud analysts Taylor Combaluzier and David A. Talbot in a November 21 research note.

Seabridge Gold was granted a license and permit related to their KSM mining project in British Columbia. Previously, Tudor Gold disputed whether the B.C. government could legally issue such a license to Seabridge.

However, the right of the government to do so was upheld by the Ministry of Mines and Low Carbon Innovation. This was further reinforced by the B.C. Ministry of Water, Land, and Resource Stewardship, which said there were no grounds under current regulations or the terms of Seabridge's existing license to cancel or invalidate the issued license and permit.

The analysts noted they believe this news confirms their suspicion that the request to cancel such a license was an opportunistic move by Tudor with little grounds. 

They noted, "Work at KSM has been continuing as Seabridge aims to achieve its substantially started designation ahead of the 2026 deadline for the current Environmental Assessment Certificate."

This report gave Seabridge a Buy rating and a CA$45.25 target price. This target price shows a possible 186% increase from the share price at the time of the report or CA$15.80.

Want to be the first to know about interesting Gold investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. Subscribe

Important Disclosures:

  1. Seabridge Gold Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
  2. Katherine DeGilio wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
  3. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for 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. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

For additional disclosures, please click here.

Disclosures for Red Cloud Securities, Seabridge Gold Inc., November 21, 2023

Red Cloud Securities Inc. is registered as an Investment Dealer and is a member of the Investment Industry Organization of Canada (IIROC). Part of Red Cloud Securities Inc.'s business is to connect mining companies with suitable investors. Red Cloud Securities Inc., its affiliates and their respective officers, directors, representatives, researchers and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Red Cloud Securities Inc. may have provided in the past, and may provide in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.

Red Cloud Securities Inc. has prepared this document for general information purposes only. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided has been derived from sources believed to be accurate but cannot be guaranteed. This document does not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before investment.

Red Cloud Securities Inc. will not treat recipients of this document as clients by virtue of having viewed this document. Red Cloud Securities Inc. takes no responsibility for any errors or omissions contained herein, and accepts no legal responsibility for any errors or omissions contained herein, and accepts no legal responsibility from any losses resulting from investment decisions based on the content of this report.

Company Specific Disclosure Details

  1. The analyst has visited the head/principal office of the issuer or has viewed its material operations.
  2. The issuer paid for or reimbursed the analyst for a portion, or all of the travel expense associated with a visit.

Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.

Dissemination Red Cloud Securities Inc. distributes its research products simultaneously, via email, to its authorized client base. All research is then available on via login and password.

Analyst Certification Any Red Cloud Securities Inc. research analyst named on this report hereby certifies that the recommendations and/or opinions expressed herein accurately reflect such research analyst’s personal views about the companies and securities that are the subject of this report. In addition, no part of any research analyst’s compensation is, or will be, directly or indirectly, related to the specific recommendations or views expressed by such research analyst in this report.

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe