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.

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.

Expert Comments:

Dan Amoss, Jim Rickards' Strategic Intelligence

"Seabridge Gold Inc.'s KSM is one of the most attractive gold-copper acquisition targets in the world. . .hold your position in the company."

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Jefferson Research

"Seabridge Gold Inc. is showing strong operating efficiency, and valuation suggests a lower amount of price risk. . .all five dimension measures, including balance sheet quality, earnings quality and cash flow quality, remained unchanged in Q3/22."

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Dan Amoss, Jim Rickards' Strategic Intelligence

"Each share of Seabridge Gold Inc. has a claim on 0.57 oz of gold reserves and 127 lbs of copper. At current metals prices, that adds up to roughly $1,500 per share in reserves. . .if you only assume shareholders will extract $0.05 on the dollar, over time, of the company's reserves per share, then Seabridge would be worth about $75. Hold your position in it."

headshot of Joe Reagor

Joe Reagor, ROTH Capital Partners

"Seabridge Gold Inc. announced the results of its 10-hole drill program at Iskut in 2022. We believe the results were encouraging and supportive of our inclusion of a valuation of $88M for the Iskut project."

Mike Kozak, Cantor Fitzgerald

"Seabridge Gold Inc.'s 2022 drill program identified a large, mineralized quartz-magnetite breccia pipe, thought to be the source of the Bronson Slope deposit at the Iskut project. Drill results were highlighted by SBS-22-05 that returned 289m at 0.7 g/t Au and 0.28% Cu and SBS-22-01 that returned 446m at 0.28 g/t Au and 0.14% Cu."

Capital Cube

"Seabridge Gold Inc.'s closing price is above the 50-day moving average since Jan. 3, 2023 (as of close), reflecting a bullish sentiment on the stock. The 200-day moving average reflects a bullish sentiment as well. . .the company has a strong working capital position. . .the working capital is CA$154.33M."

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More Expert Comments

Experts Following This Company

headshot of John Doody
John Doody, Analyst – Gold Stock Analyst
Mike Kozak, Analyst – Cantor Fitzgerald
headshot of Peter Krauth
Peter Krauth, Pres – Gold Resource Investor
Don Maclean, Senior Analyst – Paradigm Capital
Jim Marrone, Analyst – SingularResearch
Clive Maund –
Lucas N. Pipes, Analyst – B. Riley Securities
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners
Jim Rickards – Strategic Intelligence
headshot of David Talbot
David Talbot, Analyst – Red Cloud Securities
headshot of Chris Temple
Chris Temple, Editor and Publisher – The National Investor

Company News 

1/17/2023 – Seabridge Gold Completes Initial Drill Program at 3 Aces Project

1/9/2023 – Seabridge Gold's Iskut Drill Program Expands its Bronson Deposit and Identifies its Source

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

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Streetwise Company Fact Sheet

Seabridge Gold Inc.


2023/3/20 15:50:28

Analyst coverage

Cantor FitzgeraldMike Kozak
Paradigm CapitalDon Maclean
SingularResearchJim Marrone
B. Riley SecuritiesLucas N. Pipes
ROTH Capital PartnersJoe Reagor
Red Cloud SecuritiesDavid Talbot

Newsletter coverage

Company News

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Streetwise - Seabridge Gold Inc. Ownership Overview*

Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT)

*Share Structure as of 2/17/2023