Seabridge Gold Files Third Quarter 2024 Report to Shareholders and its Financial Statements and MD&A

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].