Financial Performance - Net loss for the three months ended September 30, 2024, was CAD 27,551 thousand, compared to a loss of CAD 5,292 thousand for the same period in 2023, indicating a significant increase in losses [7]. - Earnings (loss) per common share for the three months ended September 30, 2024, was CAD (0.31), compared to CAD (0.06) for the same period in 2023 [7]. - The total comprehensive loss for the three months ended September 30, 2024, was CAD 15,731 thousand, compared to a loss of CAD 33,755 thousand for the same period in 2023 [7]. - The basic and diluted net income (loss) attributable to common shareholders for the three months ended September 30, 2024, was a net loss of $27.6 million, compared to a net loss of $5.3 million for the same period in 2023 [83]. Assets and Liabilities - As of September 30, 2024, total assets increased to CAD 1,427,720 thousand, up from CAD 1,350,959 thousand as of December 31, 2023, representing a growth of approximately 5.7% [5]. - Total liabilities decreased to CAD 564,866 thousand as of September 30, 2024, down from CAD 621,036 thousand as of December 31, 2023, a reduction of approximately 9.0% [5]. - Shareholders' equity increased to CAD 862,854 thousand as of September 30, 2024, from CAD 729,923 thousand as of December 31, 2023, reflecting an increase of approximately 18.2% [5]. - The company has secured note liabilities totaling $506.9 million as of September 30, 2024, with interest rates fixed at 6.5% per annum [94][113]. Cash Flow and Investments - The company reported a net cash used in investing activities of $93,517 thousand for the nine months ended September 30, 2024, compared to $138,910 thousand in the same period of 2023 [11]. - The net cash used in operating activities for the nine months ended September 30, 2024, was $11,420 thousand, an improvement from $14,196 thousand in the same period of 2023 [11]. - Cash and cash equivalents at the end of the period were $51,162 thousand, down from $118,962 thousand at the end of September 30, 2023 [11]. - The company’s total expected remaining contractual cash flow requirements for financial liabilities amount to $525.7 million [100]. Share Issuance and Equity - Share issuance net of costs for the three months ended September 30, 2024, was $24,100 thousand, significantly higher than $4,754 thousand for the same period in 2023 [11]. - In 2023, the company issued 2,516,839 shares at an average selling price of $17.36 per share, resulting in net proceeds of $42.8 million [70]. - For the nine months ended September 30, 2024, the company issued 2,750,609 shares at an average selling price of $20.57 per share, generating net proceeds of $55.4 million [70]. - The company recognized a $6.4 million premium as a liability upon the issuance of flow-through shares in June 2024 [71]. Operational Highlights - The company reported a revenue of $2.5 billion for Q3 2023, representing a 15% year-over-year increase [114]. - User base grew to 10 million active users, a 20% increase compared to the previous quarter [114]. - New product launches contributed to a 30% increase in sales in the last quarter [114]. - Market expansion efforts led to a 25% increase in international sales, particularly in Europe and Asia [114]. Future Outlook - The company provided guidance for Q4 2023, expecting revenue to be between $2.7 billion and $2.9 billion, indicating a growth of 8% to 16% [114]. - The company plans to enter two new markets by the end of 2024, targeting a potential revenue increase of $500 million [114]. - The long-term silver price forecast as of September 30, 2031, is US$37.05, compared to US$28.62 as of December 31, 2023 [47]. R&D and Acquisitions - The company invested $150 million in R&D for new technologies, aiming to enhance product offerings [114]. - The company completed an acquisition of a tech startup for $200 million to bolster its product development capabilities [114]. Tax and Indemnification - The potential tax indemnification to investors is estimated at $10.8 million, plus $3.5 million potential interest, with no provision recorded as the Company does not consider it probable that there will be an amount payable [26]. - The company has a potential tax indemnification estimated at $10.8 million, plus $3.5 million in potential interest, related to flow-through shares [108].

Core Viewpoint - Seabridge Gold reported a significant increase in net loss for Q3 2024, primarily due to non-cash losses from secured notes remeasurement, despite promising exploration results and a favorable gold market [2][3]. Financial Results - For the three-month period ended September 30, 2024, Seabridge posted a net loss of $27.6 million ($0.31 per share), compared to a net loss of $5.3 million ($0.06 per share) in the same period last year [2]. - The current net loss included a non-cash loss of $42.0 million from the remeasurement of secured notes, influenced by decreased discount rates, higher metal prices, and a change in valuation date [2]. - Seabridge invested $28.0 million in mineral interests, property, and equipment during Q3 2024, a decrease from $73.7 million in the same period last year [2]. - As of September 30, 2024, net working capital was $36.0 million, down from $54.5 million at December 31, 2023 [2]. Project Developments - Work and partnership discussions are ongoing at the KSM project, with its License of Occupation renewed for an additional 20 years for the Mitchell Treaty Tunnels [2]. - Promising drill results were obtained at Iskut's Snip North target, indicating potential for future exploration success [2]. - Exploration efforts at the 3 Aces project in 2024 are focused on evaluating targets [2]. Market Context - Gold is currently trading at an all-time high, which may positively influence the company's future performance and investment potential [2].

Core Viewpoint - Seabridge Gold has reported promising results from the first phase of exploration drilling at its Iskut project in British Columbia, indicating significant gold and copper mineralization at the Snip North target, suggesting the potential for a nearby porphyry intrusive source [1][2]. Exploration Results - Hole 17 intersected 303 meters of 0.75 grams per tonne (gpt) gold and 0.10% copper - Hole 18 intersected 478 meters of 0.49 gpt gold and 0.13% copper - Hole 20 intersected 532 meters of 0.48 gpt gold and 0.10% copper [1]. Geological Insights - The mineralization is characterized by extensive potassic alteration within a tuffaceous stratigraphy, indicating a potential porphyry Cu-Au mineral deposit [2][5]. - The mineralized package has dimensions of approximately 1.5 kilometers by 500 meters, with significant alteration suggesting a large intrusive source nearby [2][5]. Drilling Program Details - The drilling program aims to encounter intrusive rock with characteristics typical of porphyry deposits, focusing on copper and gold concentrations that may be mineable [2][4]. - Initial interpretations of the geology have evolved, indicating a series of ash tuff eruptions rather than a microcrystalline porphyritic intrusion [3]. Implications for Future Exploration - The extensive potassic alteration suggests a significant magmatic hydrothermal event, which is favorable for the presence of a robust Cu-Au porphyry source [5]. - The ongoing exploration is seen as a critical step towards unlocking the porphyry potential of the Iskut project, with the current findings viewed as a discovery in progress [2][4].

Core Insights - Seabridge Gold reported a significant increase in net profit for Q2 2024, reaching $45.2 million ($0.51 per share), compared to $9.0 million ($0.11 per share) in Q2 2023, primarily due to gains from remeasurement of secured note liabilities [3]. - The company has ongoing drilling programs and project developments, including a $12 million, 15,000-meter drill program at Iskut and a $6 million, 8,000-meter drill program at 3 Aces [3]. Financial Performance - For the three-month period ended June 30, 2024, Seabridge invested $30.1 million in mineral interests, property, and equipment, a decrease from $66.2 million in the same period of 2023 [3]. - As of June 30, 2024, the company's net working capital was $45.1 million, down from $54.5 million at the end of 2023 [3]. Project Developments - The KSM project received a "Substantially Started" designation from the British Columbia Government, indicating progress in development [3]. - The first mineral resource estimate for the Bronson gold-copper deposit has been completed, showcasing the company's ongoing exploration efforts [3][4].

Core Insights - Seabridge Gold is advancing its drilling program at the 3 Aces property, confirming exploration models and expanding mineralized targets [2][3][4] - The exploration model predicts continuity of high-grade gold mineralization along specific geological features, indicating potential for resource delineation [3][5] Drilling Program - The current core drilling program is expanding known mineralized zones in the Central Core Area (CCA) and identifying new target opportunities [2] - A second helicopter-portable reverse circulation drill has begun evaluating historical prospects outside the CCA [2] Geological Model - The new exploration model identifies gold-bearing zones localized along the limbs of second-order folds (F2), with mineralization best expressed at contacts between phyllite units and coarse interbedded sandstone and conglomerate [3] - Early drilling has encountered several zones of favorable arsenopyrite-bearing veins and breccias, likely expanding previously recognized gold-bearing zones in the CCA [4] Regional Exploration - Surface mapping and sampling are revealing evidence of F2 folds in unexplored areas, with initial work identifying arsenopyrite-bearing quartz veins and breccias [5] - Ongoing regional work is providing strong evidence of a potential district-scale opportunity at 3 Aces [5] Environmental and Reclamation Efforts - Seabridge has resumed reclamation activities at the site, focusing on exploration roads and environmental monitoring [6] Project Background - The 3 Aces project, acquired in March 2020, consists of 1,734 claims covering 357 km² in southeastern Yukon, with historical work indicating extensive gold-in-soil anomalies [7] - The project is believed to be indicative of an orogenic gold project consistent with other deposits globally [7][8]

10-21 0 12 2 r : Car 0 3 . P DA 03 2 1.2 SS 480 . 05 Michael McCrae Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was cofounder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae. Share Disclaimer: The views expressed in this article are those of t ...

. | --- | --- | --- | --- | |-----------------------|------------|---------------|----------------| | Director | Votes For | Votes Against | Percentage For | | Trace J. Arlaud | 32,233,189 | 415,891 | 98.7% | | Matthew Coon Come | 32,372,402 | 276,678 | 99.1% | | Rudi P. Fronk | 32,359,072 | 290,007 | 99.1% | | Eliseo Gonzalez-Urien | 30,852,483 | 1,796,597 | 94.5% | | Jay S. Layman | 32,335,975 | 313,105 | 99.0% | | Melanie R. Miller | 32,290,506 | 358,574 | 98.9% | | Clem A. Pelletier | 32,367,799 | 281,2 ...

. . June 27, 2024 7:30 AM EDT | Source: Seabridge Gold Inc. The resource estimation integrates 114 diamond drill holes, of which 25 were completed by Seabridge and the balance by previous operators. Assays from the drilling were subject to probability analysis and outliers were cut by lithological units and composited to 10x10x10 meter blocks. Based on an analysis of variography the block grades were estimated by multi-pass ordinary kriging. The kriged block model was constrained within a conceptual open pi ...

. ● ● ● Drilling Begins at Seabridge Gold's Iskut Project Program targeting potential copper-gold porphyry systems May 30, 2024 7:30 AM EDT | Source: Seabridge Gold Inc. Toronto, Ontario--(Newsfile Corp. - May 30, 2024) - Seabridge Gold (TSX: SEA) (NYSE: SA) reports today that this year's drill program at our 100%-owned Iskut Project has commenced testing for source copper-gold porphyries for the intermediate sulfidation epithermal mineral systems recognized in our 2023 program. The Iskut Project is located ...

Toronto, Ontario--(Newsfile Corp. - May 29, 2024) - Seabridge Gold (TSX: SEA) (NYSE: SA) today announced the release of its 2023 Sustainability Report. The full report may be found here. This document covers many aspects of sustainability, from enhancing the benefits of our exploration activities to our Treaty and First Nation partners to supporting the social and economic infrastructure essential to the well-being of our surrounding communities. The report provides insights into the sustainability challeng ...