Seabridge Stock Price, News & Analysis

Seabridge Gold (NYSE: SA) has successfully closed two financing deals totaling US$100 million. The first is a bought deal offering of 6,540,000 common shares at US$12.25 per share, raising US$80 million. The second is a private placement with a strategic investor for 1,640,000 common shares, generating US$20 million.

The proceeds will fund: (1) payments to BC Hydro for the KSM switching station completion; (2) collection of remaining field data and early value engineering for a KSM bankable feasibility study; (3) ongoing activities at the 100%-owned KSM gold-copper project in British Columbia; and (4) general corporate purposes.

According to CEO Rudi Fronk, this financing ensures continued momentum at KSM while engaging with potential joint-venture partners. The funding will help maintain priority status with BC Hydro for low-cost green energy, which enhances KSM's economic robustness.

Etruscus Resources (ETRUF) announced significant results from its 2024 IP survey at the Rock & Roll Property in British Columbia's Golden Triangle. The survey revealed an expanded Zappa anomaly, doubling from 300m to 700m eastward beneath the Twin Glacier. The chargeability anomaly measures 300m in width by 700m in length, extending 400m deep.

The target shows extensive QSP alteration with silica flooding and 2-10% disseminated pyrite, suggesting proximity to an intrusion. The location near the 'Red Line' Triassic-Jurassic unconformity indicates favorable early Jurassic age intrusions. Recent regional discoveries by Seabridge Gold (3km away) and Skeena Resources validate the area's potential, with Seabridge reporting 303m of 0.75 g/t Au and 0.10% Cu.

The company is planning a drill program for 2025 to test this expanded target.

Seabridge Gold (NYSE: SA) has entered into a new Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and RBC Capital Markets on January 24, 2025. The agreement enables Seabridge to sell common shares through at-the-market distributions for up to US$100 million on the NYSE.

The ATM Facility will be effective until February 2027, aligning with Seabridge's current US$750 million Shelf Registration Statement. The proceeds will be used for non-flow through eligible exploration, project advancement, potential acquisitions, working capital, and general corporate purposes.

The offering will be conducted through a prospectus supplement dated January 24, 2025, to the company's existing shelf prospectus. No sales will be made in Canada through the Toronto Stock Exchange or other trading markets.

Seabridge Gold (NYSE: SA) has announced significant drilling results from its Iskut project's Snip North target in BC's Golden Triangle. The company reported that six remaining holes from the 2024 drill program continued to define extensive copper and gold mineralization, with continuous mineralization now recognized across a 2,000-meter strike length and a 600-meter dip projection.

Notable results include Hole SN-24-19 intersecting 382m of 0.45 gpt Au and 0.15% Cu. The mineralization comprises two distinct styles: a high-temperature potassic Cu-Au domain and an Au-Ag domain indicative of a lower temperature intermediate sulphidation epithermal system. The company plans to initiate resource definition drilling in 2025, focusing on delineating a mineral resource and targeting the intrusive source of the mineral system.

Seabridge Gold faces a second legal challenge against its KSM Project's 'substantially started' determination, filed by SkeenaWild Conservation Trust and Southeast Alaska Indigenous Transboundary Commission. This new petition, similar to the first one filed by Tsetsaut Skii km Lax Ha, challenges the Minister's July 25, 2024 determination as unreasonable. The determination had effectively removed the Project's Environmental Assessment Certificate expiry date of July 29, 2026.

The project received strong support from major Indigenous peoples in the area and local communities. Seabridge's Chairman expressed confidence in defending against both petitions, noting that the determination remains in effect during legal proceedings. A final decision could take a year or more.

Seabridge Gold faces a legal challenge as Tsetsaut Skii km Lax Ha (TSKLH) filed a petition against British Columbia's determination that the KSM Project is 'substantially started'. The challenge questions the consultation process and seeks to overturn the July 25, 2024 determination. Seabridge had completed or initiated 94 of 336 project components, investing $444 million. The project received support from major Indigenous groups and local communities. The petition doesn't affect the current determination, which will remain valid if successfully defended. A final decision could take over a year.

Seabridge Gold (NYSE: SA) reported a Q3 2024 net loss of $27.6 million ($0.31 per share), compared to a $5.3 million loss in the same period last year. The current quarter's loss includes a $42.0 million non-cash loss from secured notes remeasurement. Investment in mineral interests decreased to $28.0 million from $73.7 million year-over-year. Net working capital stood at $36.0 million, down from $54.5 million at end-2023. Notable developments include KSM's License of Occupation renewal for 20 years for Mitchell Treaty Tunnels, promising drill results at Iskut's Snip North target, and exploration activities at 3 Aces.

Seabridge Gold (TSX:SEA) (NYSE:SA) has announced promising results from its exploration drilling at the 100% owned Iskut project in BC's Golden Triangle. The drilling at the Snip North target revealed broad widths of gold and copper mineralization within a large potassic alteration system. Key findings include:

• Hole 17: 303m of 0.75 gpt gold and 0.10% copper
• Hole 18: 478m of 0.49 gpt gold and 0.13% copper
• Hole 20: 532m of 0.48 gpt gold and 0.10% copper

The scale and character of the mineralization suggest a nearby porphyry intrusive source. The company believes this could be a significant discovery in the making, potentially unlocking the porphyry potential of the Iskut project.

Seabridge Gold (TSX: SEA) (NYSE: SA) announced that the B.C. government has renewed the License of Occupation (LoO) for the Mitchell Treaty Tunnels (MTT) at its KSM Project until September 27, 2044. The new 20-year LoO replaces the original 10-year license granted in 2014 and provides clearer priority rights for KSM Mining ULC (KSMCo) to construct and operate the MTT.

Key points:

• The MTT consists of two 23 km long parallel tunnels connecting the east and west sides of the KSM Project Mine Site.
• 12.5 km of the MTT route passes through 11 mineral claims owned by a joint venture of which Tudor Gold Corp. is the operator.
• The new LoO removes language about 'prior rights' of claim holders, clarifying KSMCo's priority for MTT construction and operation.
• KSMCo holds additional permits for MTT-related activities, including portal construction and surface infrastructure development.
• Seabridge has initiated the permit amendment process for approval to construct the full length of the MTT.