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.

Expert Comments:

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Peter Krauth, Gold Resource Investor

"Seabridge Gold Inc. announced it sold its residual interest in the Red Mountain project in northwestern British Columbia for $18M to Sprott Resource Streaming and Royalty. It's a noncore asset, of which the company has sold $75M worth so far this year. . .very undervalued against its peers, Seabridge is a true bargain worth accumulating on weakness."

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Joe Reagor, ROTH Capital Partners

"Seabridge Gold Inc. announced that it had encountered low-grade gold mineralization at its Snowstorm project in some of the completed holes from this program. . .these low-grade intercepts could be an indication of a higher-grade gold deposit within the project. As a result, we are increasing our valuation of Snowstorm from $10M to $20M."

Jim Marrone, SingularResearch

"Seabridge Gold Inc. recently closed the acquisition of the Snowfield property, a large gold resource immediately adjacent to the company's 100%-owned KSM gold-copper project. The acquisition could have a significant positive impact on project economics at KSM."

Lucas N. Pipes, B. Riley Securities

"For maximum leverage to rising metals prices, we recommend exposure to Seabridge Gold Inc. . .we reiterate our expectation for $2,500/oz gold and $35/oz silver in 2021. . .we remain extremely bullish on precious metals in 2021 and view the recent price action and share price underperformance by precious metals equities as a buying opportunity."

Mike Kozak, Canaccord Genuity

"On a consolidated basis (open-pit plus underground block cave) Seabridge Gold Inc.'s KSM+Snowfield project contains combined resources (Measured and Indicated plus Inferred) of 9.8 Bt grading 0.45 g/t Au and 0.23% Cu, for total contained metal of 142 Moz Au and 50.5 Blb Cu. At the company's proposed mining rate of 170 Ktpd, the project would produce +1 Moz Au/year with byproduct copper production averaging +180 Mlb/year from open-pit operations only."

Peter Krauth, Gold Resource Investor

"Seabridge Gold Inc. is a classic optionality play, but I also qualify the company as a trophy goal hoarder; that's because its reserve and resource base of gold, copper and silver is one of the world's largest. Its stated goal is to grow its resource and reserve ownership per outstanding share; that's been accomplished in spades."

More Expert Comments

Experts Following This Company

Dalton Baretto – Canaccord Genuity
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Gary Baschuk, Managing Director, Mining & Senior Geologist – PearTree Securities
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John Doody, Writer – Gold Stock Analyst
Mike Kozak, Analyst – Cantor Fitzgerald
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Peter Krauth, Pres – Gold Resource Investor
Jim Marrone, Analyst – SingularResearch
Lucas N. Pipes, Analyst – B. Riley Securities
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Joe Reagor, Analyst – ROTH Capital Partners
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Rick Rule, Chairman – Sprott Asset Management
headshot of David Talbot
David Talbot, Managing Director, Head of Equity Research – Red Cloud Securities
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Chris Temple, Editor and Publisher – The National Investor

Company News

10/18/2021 – Seabridge Appoints Independent Lead Director

9/20/2021 – Seabridge Gold Strengthens Management Team with 3 Key Appointments

8/13/2021 – Seabridge Gold Files Second Quarter 2021 Report to Shareholders and its Financial Statements and MD&A

8/11/2021 – Seabridge to Begin Drilling Iskut Gold-Copper Porphyry Target

8/5/2021 – Seabridge Restarts Snowstorm Drilling to Follow-Up on Promising Gold Intersections

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

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