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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

11/12/2020 | 07:07am EST

News Release

Trading Symbols: TSX: SEA

FOR IMMEDIATE RELEASE

NYSE: SA

November 12, 2020

Seabridge Gold Files Third Quarter Report to Shareholders and its

Financial Statements and MD&A

Toronto, Canada… 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). To view the Report on the Company's website, please see: http://seabridgegold.net/sharefinrep.php.

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's Northwest Territories. For a breakdown of Seabridge's mineral reserves and resources by project and category please visit the Company's website at www.seabridgegold.net/resources.php.

106 Front Street East, Suite 400, Toronto, Ontario M5A 1E1, Canada

Telephone: (416) 367-9292 www .seabridgegold.net

Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.

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.

ON BEHALF OF THE BOARD

Chairman & C.E.O.

Rudi P. Fronk

For further information please contact:

Rudi P. Fronk, Chairman andC.E.O.

Tel: (416) 367-9292 Fax: (416) 367-2711

Email: info@seabridgegold.net

- 2 -

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Seabridge Gold Inc. published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2020 12:06:04 UTC


© Publicnow 2020
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Financials
Sales 2020 - - -
Net income 2020 -10,0 M -7,80 M -7,80 M
Net Debt 2020 - - -
P/E ratio 2020 -182x
Yield 2020 -
Capitalization 1 757 M 1 375 M 1 370 M
Capi. / Sales 2020 -
Capi. / Sales 2021 -
Nbr of Employees -
Free-Float 85,6%
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Mean consensus BUY
Number of Analysts 5
Average target price 46,00 CAD
Last Close Price 23,69 CAD
Spread / Highest target 255%
Spread / Average Target 94,2%
Spread / Lowest Target 5,53%
EPS Revisions
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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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