SEA:TSX; SA:NYSE.MKT

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.
SEA:TSX SA:NYSE.MKT

Expert Comments:

Seabridge Gold will start work on the project with a review of historical data.
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Derek Macpherson, Red Cloud Securities

(3/31/20)
"Seabridge Gold announced that it has entered an agreement to acquire a 100% interest in the 3 Aces gold project in the Yukon from Golden Predator Mining. . .this acquisition is accretive to our estimates for Seabridge, and we have increased our target. . .its stock is uniquely leveraged to the gold price and should do well in the coming bull market."

headshot of Joe Reagor

Joe Reagor, ROTH Capital Partners

(3/30/20)
"Seabridge Gold Inc. announced it had reached an agreement to acquire the 3 Aces project from Golden Predator. We view the acquisition as a low-cost, low-risk addition to the company's portfolio. . .Seabridge may be better positioned to explore the entire project more systematically."

Seabridge Gold reports that it expects the technical report update on one of its B.C. projects to be completed as scheduled, in 30–45 days.
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Cantor Fitzgerald

(3/25/20)
"Seabridge Gold Inc. is one of our Top Picks in precious metals for 2020. With Proven and Probable reserves of 45 Moz Au, in this gold price environment, particularly with a weak Canadian dollar, the company and KSM are perfectly positioned to attract a large-tier joint venture partner. . .there is still upside to our target price, which has considerable room to move higher."

B. Riley FBR Inc.

(3/24/20)
"We are maintaining our Buy rating but increasing our target price on Seabridge Gold Inc. to $41/share from $31.50/share to reflect recent movements and future expectations of commodity prices. Given the current macro backdrop and parallels we see to past periods, we believe that gold prices will rise to the $2,500/oz level, and we feel compelled to align our 12-month price targets to this view."

Adam Graf, B. Riley FBR Inc.

(2/25/20)
"B. Riley has a Buy rating and a US$30.50/share target price on SEA."

headshot of Derek Macpherson

Derek Macpherson, Red Cloud Securities

(1/31/20)
"Red Cloud has a Buy rating and a CA$49 target price on SEA."

The company makes the changes to manage its "broad and responsible approach to advancing projects with community support."
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Company has noted that drilling has confirmed the presence of structures and stratigraphy similar to neighboring Turquoise Ridge and Twin Creeks gold mines.
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The firm states the new targets could "contribute to the multi-generational life" of the district.
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Over the past 20 years, this company's shares have outperformed gold by more than five to one.
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The company is now planning a drill campaign there.
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More Expert Comments

Experts Following This Company

Dalton Baretto – Canaccord Genuity
Adam Graf – B. Riley FBR Inc.
Mike Kozak, Analyst – Cantor Fitzgerald
headshot of Derek Macpherson
Derek Macpherson, VP Mining Analysis – Red Cloud Securities
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners

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

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