Seabridge Gold(TSX:SEA)

Seabridge Gold Inc.

Investor website: https://www.seabridgegold.com/

About

Seabridge Gold Inc. is designed to provide its shareholders with exceptional leverage to a rising gold price. The company has acquired nine North American projects with substantial gold resources, including Courageous Lake and KSM, which hosts the largest publicly disclosed, undeveloped gold resource in the world with over 88 million ounces of gold. Seabridge's exploration has also defined one of the largest copper and silver projects globally. The company aims to maximize returns to shareholders by optimizing gold resources while limiting shares outstanding.

Verified company data

Cash position
in filings
Shares outstanding
107.62m
Fully diluted shares
103.84m
Mineral resource
The KSM Project is one of the world's largest undeveloped gold projects as measured by reserves and resources. An updated Preliminary Feasibility Study (PFS) estimates proven and probable reserves total 47.3 million ounces of gold and 7.3 billion pounds of copper. The KSM Project has completed a joint harmonized environmental assessment review as outlined by the British Columbia Environmental Assessment Act and the Canadian Environmental Assessment Act. In July, 2014 the project received its Environmental Assessment Certificate from the provincial authorities. Final federal approval was received in December, 2014.
Projects
["KSM is the world’s largest undeveloped gold project by resources (88.7M oz M&I plus 71.5M oz inferred) with 19.46 billion pounds of copper resources in the M&I categories plus 38.5 billion pounds in the inferred category. KSM has received its environmental approvals in one of the globe's safest and most stable jurisdictions.\n\nThe latest technical report describes a robust project that has the support of most of the nearby indigenous people and local communities:\n\n- A 2022 Pre-Feasibility Study (“PFS”) captures proven and probable reserves of 47.3 million ounces of gold plus 7.3 billion pounds of copper and 160 million ounces of silver over a 33 year open pit mine life.\n- The 2022 PFS excludes resources totaling from the Kerr and Iron Cap deposits that could be mined after the 33 year open pit mine life.\n- The 2022 study projects an after tax net present value (at 5%) of US$7.9 billion and a life of mine total cost (including all capital, reclamation and closure costs) of US$601 per ounce of gold produced after base metal credits. Over the 33 year mine life, average annual metal production is estimated at 1.0 million ounces of gold, 178 million pounds of copper and 3.0 million ounces of silver.\n\nThere are two important opportunities which Seabridge is now pursuing at KSM:\n\nFirst, to ensure that KSM’s environmental approvals remain in place for the life of the project, Seabridge secured US$375 million in funding to undertake early site construction activities towards the project receiving “Substantially Started” designation. With this designation, the existing approvals remain in place for the life of the project. In January 2024, Seabridge filed the formal application with the B.C. regulators for a “Substantially Started” designation. In July 2024, the BC government determined that KSM has been “Substantially Started”. Two petitions were later filed seeking to quash the decision to designate the KSM Project as “substantially started”. One petition claims a breach by the Province of its duties to consult and proceed fairly, and that the decision was unreasonable. A second petition was filed by two NGOs also claiming that the decision was unreasonable. Seabridge will participate in defending the decision, is confident that consultation took place and believes there is ample evidence the decision was reasonable. In the meantime, KSM's “Substantially Started” decision remains in force. It may take a year for the court decision to be released.\n\nSecond, we have an opportunity to unlock the extraordinary value in KSM by establishing a joint venture with a global mining company able to finance, build and operate the project responsibly. Our objective is to retain a significant portion of the working interest in a KSM joint venture while minimizing our capital contribution. We believe that the 2022 PFS, along with a Substantially Started designation, strengthens our hands in our ongoing joint venture discussions. Discussions continue with a number of large mining companies."]
Leadership
Rudi P. Fronk (Chair and Chief Executive Officer, Over 35 years of experience in the gold business, primarily as a senior officer and director of publicly traded companies. Co-founded Seabridge in 1999 and has served as CEO since then.), Ryan C. Hoel (President and Chief Operating Officer, More than 25 years of experience in large-scale project management, development, and operations with companies including Rio Tinto and Lundin Mining. Promoted to President and COO in January 2024.), Greg J. Martin (Chief Financial Officer, Over 25 years of experience in the natural resources industry, previously served as President and CEO of Nevada Copper and CFO at SSR Mining.), William E. Threlkeld (Senior Vice President, Exploration, Acknowledged as one of North America's outstanding geologists with 19 years at Seabridge, responsible for defining over 45 million ounces of gold resources.), Tracey D. Meintjes (Senior Vice President, Technical Services, 25 years of experience in mining project development across multiple continents, previously worked with Anglo American and Rio Tinto.), R. Brent Murphy (Senior Vice President, Environmental Affairs, Joined Seabridge in 2008, responsible for regulatory review and community engagement strategies.), C. Bruce Scott (Senior Vice President, General Counsel, and Corporate Secretary, Practiced law in corporate finance and mining since 1993, counsel to Seabridge since 1999.), Elizabeth F. Miller (Vice President, Environment and Social Responsibility, Responsible for environmental and reclamation programs for 19 years, holds a Master of Science and is a Registered Professional Biologist.), Melanie R. Miller (Vice President, Chief Sustainability Officer & Director, Sustainability Committee (Chair), Over 20 years of experience in business and supply chain innovation for Fortune 500 organizations.), Julie A. Rachynski (Vice President, Human Resources, Over 25 years of experience in human resources in the resource industry, previously held leadership positions at Weyerhaeuser Canada and New Gold.)

Verified data last updated: 2026-05-15

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