21:50:02 EDT Fri 30 Sep 2022
Enter Symbol
or Name

Seabridge Gold Inc
Symbol SEA
Shares Issued 80,277,145
Close 2022-08-12 C$ 17.92
Recent Sedar Documents

Seabridge earns $19.1-million in Q2

2022-08-12 19:10 ET - News Release

Mr. Rudi Fronk reports


Seabridge Gold Inc. has filed its report to shareholders, interim financial statements, and management's discussion and analysis for the three-month period ended June 30, 2022, on SEDAR.

Recent highlights:

  • National Instrument 43-101 technical report filed for KSM project;
  • 2022 prefeasibility study lifts KSM profitability and sustainability to much higher levels;
  • 2022 preliminary economic assessment shows potential to expand mine life for an additional 39 years focusing on copper;
  • Substantially started activities continue at KSM;
  • Exploration activities are under way at Iskut, focusing on gold-copper porphyry opportunities;
  • Two new internal senior officer appointments.

Financial results

During the three-month period ended June 30, 2022, Seabridge posted a net profit of $19.1-million (24 cents per share) compared with a net profit of $14.5-million (19 cents per share) for the same period in 2021. During the second quarter, Seabridge invested $27.2-million in mineral interest project spending compared with $12.2-million in the second quarter of 2021. At June 30, 2022, net working capital was $244.8-million compared with $36.9-million at Dec. 31, 2021.

Seabridge holds a 100-per-cent interest in several North American gold projects. Seabridge's assets include the KSM and Iskut projects located in northwest British Columbia, Canada's Golden Triangle, the Courageous Lake project located in Canada's Northwest Territories, the Snowstorm project in the Getchell gold belt of northern Nevada, and the 3 Aces project located in the Yukon territory. For a full breakdown of Seabridge's mineral reserves and mineral resources by category, please visit Seabridge's website.

Technical information

Unless otherwise indicated, the technical and scientific disclosure contained or referenced in this press release, including any references to mineral resources or mineral reserves, was prepared in accordance with Canadian National Instrument 43-101, which differs significantly from the requirements of the U.S. Securities and Exchange Commission applicable to U.S. domestic issuers. Accordingly, the scientific and technical information contained or referenced in this press release may not be comparable with similar information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC.

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