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WIKI ANALYSIS
Seabridge Gold is a Toronto based exploration company with significant resources of gold-copper, silver and molybdenum. Its flagship property known as KSM in Northern British Columbia, is home to all of the company's proven and probable reserves of over 38.5 million ounces for gold, 214 million ounces for silver, 9.985 billion pounds for copper and 257 million pounds for molybdenum.[1]
The company has realized significant gains on investments; for example the 2006 acquisition of Noche Buena cost it only $4.4 million however less than two years later, in December 2008 it sold most of its interest in the project to Newmont and Fresnillo for $25 million followed by the sale of its remaining interest in 2010 for $10.1 million.[2]
Production forecast
Reserves for each metal represent about 70% of the total resources. Production forecast: first 7 years 854,000 ounces for gold, 166 million pounds for copper, 2.9 million ounces for silver and 1.1 million pounds for molybdenum. Over the 52 year life of mine: 546,000 ounces of gold, 157 million pounds of copper, 2.7 million ounces of silver and 1.7 million pounds of molybdenum.[1]
Projects
Outside of KSM the company has no resources of copper, silver or molybdenum; all other projects only have gold. Measured + indicated resources of gold total 55.345 million ounces (81.9% located at KSM). 67% of gold outside of KSM is at Courageous Lake (Courageous Lake is also home to 22% of inferred gold resources; measured/indicated plus inferred = 11.382 million ounces at Courageous Lake out of a company total of 75.801 million ounces).
Financial position
Hasn't been approached as of yet (2011 summer) by any financial institutions for funding but with base case total net cash flow US$4.5 billion higher in 2010 it might be easier for the company to obtain new credit to use towards the US$4.68 billion capital costs needed by KSM.[1]
References
- ↑ 1.0 1.1 1.2 Seabridge Gold Inc 2010 Annual Report (2011).
- ↑ Seabridge Gold July 2011 Corporate Presentation (2011).
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