Welcome to our dedicated page for Seabridge Gold news (Ticker: SA), a resource for investors and traders seeking the latest updates and insights on Seabridge Gold stock.
Seabridge Gold, Inc. (NYSE: SA) is a Canadian company specializing in the exploration and development of gold properties across North America. Headquartered in Toronto, Seabridge Gold primarily focuses on its flagship project, the Kerr Sulphurets Mitchell (KSM) in northwest British Columbia, Canada. This substantial gold-silver-molybdenum-copper mine is a cornerstone of their portfolio.
Seabridge Gold's other principal projects include the Courageous Lake property in the Northwest Territories, the Iskut property in northwestern British Columbia, and the 3 Aces Project in southeast Yukon. These projects underscore Seabridge's commitment to expanding its footprint in North American gold exploration.
Recently, Seabridge Gold announced significant advancements at its 3 Aces project in Yukon. The 2023 drill results have confirmed key parameters controlling gold deposition, providing a clear direction for follow-up evaluations. This year’s comprehensive drilling program, which covered 7,759 meters, has led to an updated 3-dimensional model highlighting continuous mineralization between previously isolated deposits in the Central Core Area (CCA).
Moreover, Seabridge's Courageous Lake project has been redesigned, showing improved economics with an updated Preliminary Feasibility Study and a new Preliminary Economic Assessment. These updates demonstrate a more sustainable and profitable mining operation, reducing initial capital and lowering the strip ratio while maintaining high grades.
The company's ongoing exploration at its Iskut project in British Columbia's Golden Triangle aims to uncover a copper-gold porphyry source. Utilizing advanced drilling techniques and geophysical surveys, Seabridge is determined to expand its Bronson Slope and Snip North discoveries, which show significant promise for future resource delineation.
In terms of financial health, Seabridge Gold posted a net loss of $29.3 million for the year ended December 31, 2023, primarily due to non-cash losses related to the remeasurement of Secured Note liabilities. Despite this, the company remains financially robust with a net working capital of $54.5 million as of the same date. Notably, Seabridge continues to invest heavily in its mineral interests, with $69.7 million invested in 2023 alone.
Seabridge Gold's strategic vision is supported by its strong leadership team and robust exploration model, which consistently delivers high-grade discoveries and expands known mineral zones. This ongoing work positions Seabridge Gold as a key player in the North American gold mining industry, with assets that promise significant shareholder value.
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.
Seabridge Gold (NYSE: SA) has filed its Q2 2024 financial report, revealing a net profit of $45.2 million ($0.51 per share), compared to $9.0 million in Q2 2023. The company invested $30.1 million in mineral interests during Q2, down from $66.2 million in the same period last year. Key highlights include:
- KSM project received 'Substantially Started' designation from BC Government
- $12 million, 15,000-meter drill program underway at Iskut
- First mineral resource estimate completed for Bronson gold-copper deposit
- $6 million, 8,000-meter drill program underway at 3 Aces
As of June 30, 2024, Seabridge's net working capital stood at $45.1 million, down from $54.5 million at the end of 2023. The company holds 100% interest in several North American gold projects, including KSM, Iskut, Courageous Lake, Snowstorm, and 3 Aces.
Seabridge Gold (TSX: SEA) (NYSE: SA) reports progress on its 3 Aces project in Yukon Territory. The core drilling program is expanding known mineralized zones in the Central Core Area (CCA) and identifying new targets. A second drill is evaluating historical prospects outside the CCA. The exploration model predicts continuity of mineralization, including high-grade gold, along second-order fold limbs.
Early drilling has encountered favorable arsenopyrite-bearing veins and breccias on projected fold limbs, likely expanding previously recognized gold-bearing zones. Regional mapping is finding evidence of similar structures across the property. Seabridge believes 3 Aces has potential as a district-scale opportunity. The company is also conducting reclamation and environmental monitoring activities.
Seabridge Gold (TSX: SEA) (NYSE: SA) announced that its subsidiary, KSM Mining ULC, has received a 'substantially started' designation from the BC Government for its KSM Project. This designation affirms the validity of the BC Environmental Assessment Certificate (EAC) for the project's lifetime, overriding the original July 29, 2026 expiry date.
The company has invested over $1 billion in the KSM Project since 2001, with more than $800 million spent after receiving the EAC in July 2014. This milestone positions KSM to become a significant economic contributor to northwestern BC and supports the development of critical mineral supply chains for North America's technology, defense, and security needs.
Seabridge Gold's CEO, Rudi Fronk, emphasized the regulatory significance of this decision and its potential to facilitate joint venture discussions for the KSM Project.
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