Major Mining Investor Cuts Paramount Gold Nevada Holdings Despite New Share Purchase

Rhea-AI Filing Summary

Seabridge Gold has filed Amendment No. 4 to their Schedule 13D regarding their holdings in Paramount Gold Nevada Corp (NYSE: PZG). The key updates reveal:

On June 16, 2025, Seabridge Gold:

• Purchased 833,333 shares at $0.60 per share, totaling an investment of $500,000
• Now beneficially owns 3,638,413 shares, representing 4.89% of outstanding shares
• Ceased to be a >5% shareholder due to increased total shares outstanding of 74,346,744 shares

The filing indicates Seabridge Gold maintains sole voting and dispositive power over all its shares. This amendment follows previous Schedule 13D filings from March 2017, with subsequent amendments in March 2017, October 2017, and July 2018. The transaction reflects Seabridge's continued but reduced stake in Paramount Gold Nevada's mining operations.

Positive

• None.

Negative

• Seabridge Gold Inc. reduced its ownership stake below 5% threshold (to 4.89%) in Paramount Gold Nevada Corp., signaling decreased institutional confidence

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

PARAMOUNT GOLD NEVADA CORP.

(Name of Issuer)

Common Stock, par value US$ 0.01 per share

(Title of Class of Securities)

69924M109

(CUSIP Number)

Chris Reynolds
106 Front Street East,, Suite 400
Toronto, Ontario, A6, M5A 1E1
(416) 367-9292

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/16/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 69924M109

1

Name of reporting person

Seabridge Gold Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 3,638,413.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 3,638,413.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

3,638,413.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.89 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Percentage beneficial ownership is based on 71,865,150 shares outstanding, including 71,449,150 shares reported as outstanding as of May 9, 2025 by the registrant in its Form 10-Q for the period ended March 31, 2025 filed on May 12, 2025 (74,346,744 shares outstanding confirmed with the Issuer after recent financings).

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value US$ 0.01 per share
(b)	Name of Issuer: PARAMOUNT GOLD NEVADA CORP.
(c)	Address of Issuer's Principal Executive Offices: 665 Anderson Street, Winnemucca, NEVADA , 89445.
Item 1 Comment: This Amendment No. 4 (this "Amendment No. 4") to the Statement of Beneficial Ownership on Schedule 13D filed on March 7, 2017 (the "Statement"), as amended by Amendment No. 1 thereto filed on March 13, 2017 ("Amendment No. 1") as amended by Amendment No. 2 thereto filed on October 17, 2017 ("Amendment No. 2") and as amended by Amendment No. 3 thereto filed on July 13, 2018 ("Amendment No. 3"), relates to the common stock, par value US$ 0.01 per share (the "Common Stock") of Paramount Gold Nevada Corp., a Nevada corporation (NYSE AMERICAN: PZG) (the "Issuer" or "Paramount"). The principal executive offices of the Issuer are located at 665 Anderson Street, Winnemucca, Nevada. Capitalized terms used herein that are not otherwise defined shall have the respective meanings assigned thereto in the Statement and/or in Amendment No. 1, in Amendment No. 2 and/or in Amendment No. 3. Except as set forth herein, this Amendment No. 4 does not modify any of the information previously reported by the Reporting Entity in the Statement and/or in Amendment No. 1, in Amendment No. 2 and/or in Amendment No. 3. Except as specifically amended by this Amendment No. 4, the Schedule 13D is unchanged.
Item 5.	Interest in Securities of the Issuer
(a)	As of the date of this Schedule 13D/A, the Reporting Entity beneficially owns 3,638,413 shares of Common Stock, which is 4.89% of the outstanding shares of Common Stock of the Issuer.
(b)	As of the date of this Schedule 13D/A, the Reporting Entity beneficially owns 3,638,413 shares of Common Stock, which is 4.89% of the outstanding shares of Common Stock of the Issuer.
(c)	Except as set forth in this Schedule 13D/A, the Reporting Entity has not effected any transactions with respect to the Common Stock during the past 60 days. Purchase/sell Number of shares Share Price on issuance Total cost, aggregate Date Purchase 833,333 USD 0.60 USD 500,000 6/16/2025
(d)	No person, other than the Reporting Entity, is known to have the right to receive, or the power to direct the receipt of dividends from, or the proceeds of sale of, the shares of Common Stock covered by this Schedule 13D/A.
(e)	If applicable, state the date on which the reporting person ceased to be the beneficial owner of more than five percent of the class of securities: 6/16/2025, based on updated outstanding number.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Seabridge Gold Inc.

Signature:	/s/ Christopher J. Reynolds
Name/Title:	Christopher J. Reynolds, VP and CFO
Date:	06/20/2025

FAQ

What percentage of Paramount Gold Nevada (PZG) does Seabridge Gold now own?

According to the Schedule 13D/A filing, Seabridge Gold now owns 4.89% of Paramount Gold Nevada's outstanding shares, representing 3,638,413 shares of Common Stock.

When did Seabridge Gold fall below 5% ownership in PZG?

Seabridge Gold ceased to be a beneficial owner of more than 5% of PZG's shares on June 16, 2025, based on the updated number of outstanding shares.

How many PZG shares did Seabridge Gold purchase in their latest transaction?

In their latest transaction on June 16, 2025, Seabridge Gold purchased 833,333 shares of PZG at a price of USD 0.60 per share, for a total investment of USD 500,000.

How many total shares of PZG are outstanding as of the filing date?

According to the filing, there are 74,346,744 shares outstanding of PZG after recent financings, updated from the 71,449,150 shares reported in the company's filing for the period ended March 31, 2025.

What voting power does Seabridge Gold have over their PZG shares?

Seabridge Gold has sole voting and dispositive power over all 3,638,413 shares they own, with 0 shares under shared voting or dispositive power.