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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Seabridge Gold Inc.    SEA   CA8119161054

SEABRIDGE GOLD INC.

(SEA)
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SEABRIDGE GOLD : FILES THIRD QUARTER REPORT TO SHAREHOLDERS AND ITS FINANCIAL STATEMENTS AND MD&A

11/13/2020 | 10:28am EST

Toronto - Seabridge Gold (TSX: SEA) (NYSE: SA) reported today that it has filed its Report to Shareholders, Interim Financial Statements and Management's Discussion and Analysis for the three and nine months ended September 30, 2020 on SEDAR (www.sedar.com).

Recent Highlights

Entering Q3, there were significant risks and uncertainties concerning how COVID-19 would impact planned field activities and what the Company could safely achieve without risking its employees, consultants and our Treaty and First Nation partners. Our team worked closely with Treaty and First Nations, government health organizations, suppliers and other exploration companies in each of our areas of focus to develop effective procedures for operating in the current global health crisis. These efforts successfully prevented infection of our work sites and surrounding communities.

Despite having to cut back our 2020 programs in response to the coronavirus, we were able to accomplish the following: Completed geotechnical drill program along KSM's tunnel route

Drilling at Iskut found additional evidence of a large gold-copper porphyry system

Drilling got underway at Snowstorm in Nevada

Exited Q3 with one of the strongest working capital positions in our 21-year history

During the three-month period ended September 30, 2020 Seabridge posted a profit of $5.0 million ($0.07 per share) compared to a loss of $2.5 million ($0.04 per share) for the same period last year. During the 3rd quarter, Seabridge invested $12.0 million in mineral interests, compared to $10.8 million during the same period last year. At September 30, 2020, net working capital was $39.9 million compared to $18.0 million at December 31, 2019.

Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company's principal assets are the KSM and Iskut properties located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada'sNorthwest Territories.

All resource estimates reported by the Corporation were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Contact:

Rudi P. Fronk

Tel: (416) 367-9292

Fax: (416) 367-2711

Email: info@seabridgegold.net

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 - - -
Net income 2020 -10,0 M -7,82 M -7,82 M
Net Debt 2020 - - -
P/E ratio 2020 -194x
Yield 2020 -
Capitalization 1 867 M 1 466 M 1 461 M
Capi. / Sales 2020 -
Capi. / Sales 2021 -
Nbr of Employees -
Free-Float 85,5%
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Technical analysis trends SEABRIDGE GOLD INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 46,00 CAD
Last Close Price 25,20 CAD
Spread / Highest target 233%
Spread / Average Target 82,5%
Spread / Lowest Target -0,79%
EPS Revisions
Managers and Directors
NameTitle
Rudi P. Fronk Chairman & Chief Executive Officer
Jay S. Layman President, Chief Operating Officer & Director
Christopher Justin Reynolds Chief Financial Officer & Vice President-Finance
Peter Williams Senior Vice President-Technical Services
Eliseo Gonzalez-Urien Independent Director
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