4 Feb 2013regulatory community update● Neutral
Donated $100,000 to Northwest Community College for trades training in the part of British Columbia where KSM would be built - community groundwork for a project still years from permits.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Jan 2013drilling result▲ Good
Ten final holes on the Camp Zone, discovered at KSM the previous summer, returned ten intercepts above 10 g/t gold; the zone sits at low altitude near planned infrastructure.
12 Dec 2012drilling result▲ GoodMajor
Final 2012 results confirmed Deep Kerr as a genuine discovery, with the last hole returning long copper runs including 22 metres at 0.98% copper, and three further core-zone targets identified. Seabridge planned a $15 million 2013 campaign from June aimed at a first Deep Kerr resource estimate.
21 Nov 2012capital raising announcement● NeutralMajor
Raised $24.0 million by selling 1,100,000 flow-through shares at an average $21.85 on a bought-deal basis through Stonecap, Macquarie and Cormark, with the money earmarked for exploration at KSM and Courageous Lake. Flow-through shares are sold at a premium in exchange for handing the tax deductions to the buyer, so the cash must be spent in the ground - the second equity raise in the cached record after Royal Gold's C$30 million placement of June 2011.
14 Nov 2012investor presentation● Neutral
Notice that the CEO would present at a New York mining conference on 14 November 2012, with a public webcast. No new disclosure.
26 Oct 2012other material event▼ BadMajor
A contractor surveyor was killed in an avalanche near the Sulphurets Creek camp at KSM on 23 October 2012; a second surveyor working the same slope escaped. Seabridge said it was working openly with the authorities investigating the accident.
27 Sept 2012drilling result▲ Good
First results from the deep hunt for a high-grade core under KSM: two of the four targets produced drilling consistent with a core zone, and the program was expanded and extended beyond the 11 holes originally planned.
10 Sept 2012drilling result▲ GoodMajor
Discovered high-grade gold at Walsh Lake, about 10 kilometres from the FAT deposit at Courageous Lake where Seabridge already holds a 6.5 million ounce proven and probable reserve; hole CL-210 returned 21.2 metres at 8.16 g/t gold, 5.6 metres at 5.93 g/t and a further intercept. The target appears to be the southern extension of the historic Tundra gold mine, abandoned in 1999.
29 June 2012resource reserve update● NeutralMajor
Seabridge filed the 2012 KSM preliminary feasibility study, prepared by Tetra Tech-Wardrop and announced on 14 May 2012, on SEDAR. The company said it included design changes made after aboriginal, public and regulator input and was the basis for the permit application it expected to file later in the year.
28 June 2012asset acquisition disposition● Neutral
The Wolfpack Gold transactions closed, moving Seabridge's Nevada exploration properties into the joint vehicle with Golden Predator three weeks after the definitive agreements were signed.
7 June 2012asset acquisition disposition● Neutral
Signed definitive agreements with Golden Predator to fold their US exploration ground into Wolfpack Gold Corp, with Seabridge granting options over its Castle Black Rock, Four Mile Basin and Liberty Springs properties in Nevada for a minimum 12.5 million Wolfpack shares over three years, 1.5 million of them on closing. Seabridge takes paper rather than cash and keeps its focus on KSM and Courageous Lake; CEO Rudi Fronk joins the Wolfpack board.
10 Apr 2012listing compliance notice▲ Good
Trading began on the New York Stock Exchange under SA and ceased on NYSE Amex, completing the upgrade announced six days earlier.
4 Apr 2012listing compliance notice▲ Good
Cleared to move its listing from NYSE Amex to the New York Stock Exchange, keeping the ticker SA, with trading to start 10 April 2012.
3 Apr 2012drilling progress report● Neutral
Announced an 11-hole, 7,500-metre 2012 program testing four deep targets at KSM for a high-grade porphyry core of the kind found at Ok Tedi, Bingham Canyon and Grasberg. An exploration hypothesis, not a result.
30 Mar 2012annual report● Neutral
2011 accounts: a net loss of $20.1 million (48 cents a share) against a $3.3 million profit in 2010, which had been flattered by a $10.2 million gain on selling the Noche Buena interest. Seabridge spent $27.6 million at KSM during the year and its updated study lifted KSM reserves to 38.5 million ounces of gold and 10 billion pounds of copper - a company with world-scale reserves and no revenue.
16 Mar 2012material agreement▲ Good
Agreed to option the Red Mountain project in British Columbia to Banks Island Gold for $900,000 cash and 4 million Banks Island shares on signing, $1.5 million by August 2013 and $9.5 million by February 2015. Same structure as the Orsa deal on Quartz Mountain: a junior funds the work and Seabridge keeps the upside without spending.
14 Mar 2012drilling progress report● Neutral
An $8.5 million 2012 program at Courageous Lake, about 12,500 metres of drilling plus airborne geophysics, aimed at finding a second deposit along the 52 kilometres of greenstone belt Seabridge holds there, alongside more in-pit infill drilling.
8 Feb 2012resource reserve update▲ GoodMajor
KSM measured and indicated resources reached 49.0 million ounces of gold, 12.7 billion pounds of copper, 261 million ounces of silver and 304 million pounds of molybdenum, after the 2011 drilling added 3.7 million gold ounces to measured and indicated and 0.5 million to inferred. The estimate fed the April 2012 feasibility study.
11 Jan 2012resource reserve update▲ GoodMajor
The 2011 drilling paid off in the count: Courageous Lake measured and indicated resources rose 18% to 7.97 million ounces (107.3 million tonnes at 2.31 g/t) with 3.43 million ounces inferred (49.0 million tonnes at 2.18 g/t), converting about 1.2 million inferred ounces for roughly $6 million of drilling. A feasibility study due May 2012 was to report the project's first reserves.
4 Jan 2012drilling result▲ Good
Nine holes totalling 2,630 metres at KSM's Kerr deposit returned some of the highest grades yet drilled on the property, led by K-11-15 at 34.3 metres of 1.04 g/t gold and 1.88% copper, and opened the deposit down-dip.
1 Dec 2011regulatory community update● NeutralMajor
Pushed the KSM permit application back to the third quarter of 2012 to incorporate the underground panel-cave design flagged in September and possible changes to access routes after feedback from the Nisga'a Nation and other First Nations. The redesign was to be captured in a new feasibility study due April 2012 - permitting slips to accommodate engineering, a pattern that recurs at KSM.
29 Nov 2011drilling result▲ Good
Final Courageous Lake infill batch found Zone 8 far more continuous than thought, which Seabridge said could more than quadruple that zone's contribution to measured and indicated resources and lift the deposit's average grade; an updated estimate was promised within 45 days.
23 Nov 2011drilling result▲ Good
Final 14 Sulphurets holes of 2011; every one of the year's 34 holes there hit mineralisation above the reserve cut-off grade. A new resource estimate was scheduled for January 2012 and a rebuilt KSM feasibility study for April 2012.
1 Nov 2011drilling result▲ Good
Third batch of 2011 Courageous Lake infill results, which the CEO called among the best yet and said should raise both the grade and size of the FAT deposit's resource ahead of the mid-2012 feasibility study.
25 Oct 2011material agreement▲ Good
Optioned the Quartz Mountain project in Oregon, and its 50% interest in the adjacent Angel's Camp property, to Orsa Ventures for staged payments of $500,000 cash, then $2 million, then $3 million on a feasibility study and $15 million (or a 2% royalty, at Seabridge's election) once a mine there is permitted and bonded. Another non-core property handed to a junior to fund rather than sold outright.
20 Oct 2011drilling result▲ Good
Twelve more Sulphurets holes at KSM, part of 34 holes and 11,480 metres drilled there in 2011; Seabridge expects the results to convert in-pit waste into measured and indicated resources and to lower the deposit's strip ratio. Assays from a further 15 holes were still outstanding.
22 Sept 2011drilling result▲ GoodMajor
Five geotechnical holes at KSM's Mitchell deposit supported mining the deeper part of the deposit by underground panel caving after an initial open pit, which Seabridge said would cut the strip ratio, waste rock volumes and environmental footprint. This design change is the one the company cited in December when it pushed its permit application back to the third quarter of 2012.
13 Sept 2011drilling result▲ Good
Second batch of 2011 Courageous Lake infill results, 13 core holes, which Seabridge said confirm the resource model with some intercepts wider and better grade than predicted - the same upgrade-to-reserves exercise begun with the 10 holes reported in August.
16 Aug 2011quarterly activities report▲ GoodMajor
Quarterly report whose real content is the cash: Royal Gold bought 1,019,000 Seabridge shares at C$29.44 (C$30 million, a 15% premium) and took an option over a 1.25% gold and silver royalty on KSM for a further C$100 million, exercisable only after KSM is fully permitted and financed - so the royalty money only arrives if a mine is ever approved. The quarter also brought a new economic study for Courageous Lake and an agreement to sell the early-stage Nevada properties.
9 Aug 2011drilling result▲ Good
First 10 infill holes of a $16 million summer campaign at the 100%-owned Courageous Lake project in the Northwest Territories, drilled to convert inferred ounces into reserves for a preliminary feasibility study due in the second quarter of 2012; 38 more holes were planned before the program ended in September.