Past year: ▲ 14%(33.46 – 53.75 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
27 July 2011drilling result▲ Good
First seven holes of the 2011 program at the Sulphurets deposit on Seabridge's 100%-owned KSM project in northwest British Columbia, drilled specifically to move about 3 million ounces of higher-grade inferred gold that the 2011 study counts as waste into the reserve category; hole S-11-34 cut 64.6 metres at 1.28 g/t gold and 0.13% copper. The company said the intercepts were wider and better grade than expected and should increase reserves.
30 June 2011capital raising announcement▲ GoodMajor
Closed the Royal Gold private placement: 1,019,000 shares at C$29.44 for C$30 million, a 15% premium. Royal Gold also got an option over a 1.25% gold and silver royalty on KSM for C$100 million, exercisable only after full permits and project financing.
What it means for a shareholder
1.0m new shares at C$29.44 to raise about C$30.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
20 June 2011resource reserve update▲ GoodMajor
Filed the 2011 KSM prefeasibility study, prepared by Wardrop, which identified two higher-throughput scenarios said to improve the economics substantially. This is the study whose reserves - 38.5 million ounces of gold and 10 billion pounds of copper - anchor everything that follows.
10 June 2011drilling progress report● Neutral
Started the 2011 drill program at KSM.
9 June 2010regulatory community update● Neutral
The federal environmental agency (CEAA) released its proposed scope for the KSM environmental assessment and opened a 30-day public comment period. Seabridge says it can now keep to its plan of filing the assessment application with both governments in late 2010, which is later than the September 2010 date given in November 2009 (an inference: the schedule has slipped slightly). The release also restates the March 2010 preliminary feasibility study reserves of 30.2 million ounces of gold, down from the 38.9 million ounces of measured and indicated resources they were derived from.
13 Jan 2010resource reserve update▲ GoodMajor
KSM measured and indicated resources rose 13% to 38.9 million ounces of gold and 17% to 10.0 billion pounds of copper, with Mitchell alone at 33.7 million ounces - which the company called the largest gold deposit ever found in Canada.
22 Dec 2009resource reserve update● Neutral
Confirmed the KSM prefeasibility study was on schedule for the end of March 2010 and that design changes recommended by Thyssen Mining were likely to cut capital and operating costs.
3 Dec 2009asset acquisition disposition● Neutral
Signed a non-binding letter of intent to sell its Nevada exploration properties, including Castle-Black Rock, to Constitution Mining for more than US$7 million in staged cash and other consideration. That sale did not happen: the same Nevada ground went into Wolfpack Gold with Golden Predator in 2012, for shares.
25 Nov 2009regulatory community update▲ Good
The BC Environmental Assessment Office issued its Section 11 Order for KSM, setting the scope and procedures of the environmental assessment and naming which Treaty and First Nations the government must consult. Seabridge says permitting is on schedule, the two-year baseline program is nearly complete, and the application document is due in September 2010, ahead of the preliminary feasibility study scheduled for March 2010. It says nearly $55 million has been spent on KSM so far, about $8 million of it on environmental studies. This starts the permitting thread that ends with the 2014 BC certificate.
3 Nov 2009drilling result▲ Good
Kerr drilling completed the 2009 upgrade exercise across all three KSM deposits, with a new resource estimate promised before year end.
27 Oct 2009drilling result▲ Good
Mitchell drilling was expected to upgrade in-pit inferred resources and to improve the ore-to-waste ratio by reclassifying material previously counted as waste.
14 Oct 2009drilling result▲ Good
Sulphurets drilling came in better than expected and was expected to convert substantially all the remaining in-pit inferred material to measured and indicated.
30 July 2009resource reserve update▲ GoodMajor
An updated economic study for KSM cut initial capital 10% and unit operating costs 11% against the 2008 version.
25 June 2009asset acquisition disposition▲ GoodMajor
Agreed to sell Red Mountain to BonTerra Resources for C$12 million - $7.0 million cash and a $5.0 million convertible debenture. Red Mountain comes back to Seabridge later and is optioned out twice more, to Banks Island in 2012 and Revolution in 2014.
7 Jan 2009drilling result▲ Good
The last two holes of 2008 confirmed a higher-grade breccia zone extension at Sulphurets.
22 Dec 2008drilling result▲ Good
Final 13 Mitchell holes of 2008 - two exploration, three infill and eight geotechnical - with an updated resource estimate expected in February 2009.
19 Dec 2008asset acquisition disposition● Neutral
Duplicate filing of the same 15 December 2008 release reporting the completed Noche Buena sale.
17 Dec 2008asset acquisition disposition▲ GoodMajor
Completed the Noche Buena sale and was paid US$25 million in cash, funding feasibility work at KSM and Courageous Lake without issuing shares.
1 Dec 2008resource reserve update▲ GoodMajor
First economic study of KSM: a 30-year mine recovering more than 19 million ounces of gold at a cash operating cost of negative US$11 an ounce after base metal credits, and US$233 an ounce in total. The number that has justified holding KSM ever since.
10 Oct 2008asset acquisition disposition▲ GoodMajor
Signed a letter of intent to sell Noche Buena to Minera Penmont, a Fresnillo-Newmont joint venture, for US$25 million cash at closing and US$5 million on commercial production. It also kept a 1.5% net smelter royalty on production sold at US$800 an ounce gold or more.
19 Aug 2008drilling result▲ Good
First nine holes of the 2008 program infilled the eastern side of Mitchell and tested for a northeast down-dip extension.
16 June 2008drilling progress report● Neutral
Began a 15,000 metre program at KSM to upgrade and expand Mitchell.
22 Feb 2008resource reserve update▲ GoodMajor
The rebuilt Mitchell estimate moved more than 55% of the gold into the indicated category, where the whole of the 2007 estimate had been inferred - the confidence upgrade that makes a deposit financeable rather than merely large.
28 Jan 2008asset acquisition disposition● Neutral
Noche Buena's resource grew 14% after 33 holes and about 8,000 metres of 2007 drilling, and Seabridge said the project would be sold - bought in 2006 to be improved and resold, not mined.
22 Jan 2008resource reserve update▲ GoodMajor
First independent resource estimates for the Kerr and Sulphurets zones, completing the three-deposit picture at KSM alongside Mitchell.
19 Dec 2007drilling result▲ Good
The final 11 holes of 2007 confirmed the upgrade and expansion at Mitchell.
5 Dec 2007drilling result▲ Good
Nine more holes pointed to a significant upgrade and expansion of Mitchell's gold and copper resources.
13 Nov 2007drilling progress report● Neutral
Finished the 2007 Mitchell program and commissioned a new resource report.
22 Oct 2007drilling result▲ Good
The first eight holes of a 15,000 metre summer program extended Mitchell north, south and at depth.
22 Oct 2007drilling result▲ GoodMajor
Hole M-07-35 extended Mitchell at least 300 metres deeper, running 682 metres of continuous mineralisation from surface averaging 0.92 g/t gold and 0.24% copper and ending in the best grades yet seen on the property.
