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Scenarios Identified for Higher Throughput with Substantial Economic Benefits [Source: See June 20, 2011 press release more...]
Royal Gold President and CEO Tony Jensen said that his firm has completed due diligence on the KSM project using independent consultants. "We are excited to have the option to acquire a precious metal royalty on the KSM project which is one of the largest undeveloped gold projects in the world. We believe that the technical work completed by Seabridge and its consultants to date is well done, and that this project has the potential to be a very substantial and long lived mine. This private placement supports the project advancement towards a final feasibility study and represents an attractive investment opportunity for Royal Gold as the project progresses." [Source: See June 17, 2011 press release more...]
Study Predicts 16 Year Mine Life with Average Annual Gold Production of 383,000 Ounces. Estimated Pre-Tax NPV of US$1.6 Billion at a 5% Discount Rate and IRR of 18.1% at Current Gold Price. [June 2, 2011]
Seabridge Gold announced it has executed two agreements with Pretium Resources Inc. to: (1) establish the terms under which mining operations at one project can encroach on the other's boundaries; and (2) explore the potential for joint development of Seabridge's KSM project and Pretium's Snowfield project which together represent the largest undeveloped gold resource in North America. [May 2011].
Although Seabridge Gold has Proven + Probable reserves, Seabridge does not report its Measured + Indicated resources exclusive of reserves. As a result, GoldMinerPulse reports the Measured + Indicated resources which includes the Proven + Probable.
The Seabridge Gold Inc. website is at www.seabridgegold.net.
Information Links: Yahoo News and Quotes | Yahoo Message Board (SA) | StockCharts
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This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-06-17.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2012-02-03 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$4,797.12 |
| Average Ore Value per Tonne | US$53.27 |
| Metal Value Leverage (MVL) | 209.90 |
| Market Capitalization as a Percentage of Metal Value | 0.5% |
| Recent Closing Stock Price | C$22.7 [note 1] |
| Fully Diluted Share Count | 43.90 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 0% |
| Percentage In Situ Measured + Indicated Resource | 74% |
| Percentage In Situ Inferred Resource | 26% |
| Metric | Value on 2012-02-03 |
|---|---|
| Gold Reserves + Resources | 75.69 M oz |
| Average Gold Ore Grade | 0.6 g/t |
| Market Capitalization per oz of Gold In Situ | US$13.25 ( C$13.17 ) |
| Gold Equivalent Ounces Estimate | 122.01 M oz |
| Market Capitalization per oz of Gold Equivalent | US$8.22 ( C$8.17 ) |
Note 1: Conversion rate used: 1 Cnd$ = 1.00682 US$
Note 2: Fully diluted share count taken from Seabridge Gold Share Structure Web page (June 2011) plus the 1,019,000 shares in the private placement with Royal Gold announced June 17, 2011.
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | Silver | Copper | Molybdenum | ||
|---|---|---|---|---|---|---|
| Total Counts (reserves + resources) | 75.69 M oz | 353.13 M oz | 7.22 M t | 198.12 K t | ||
| Metal Prices in US$ (from 2012-02-03) | $1,725.90 / oz | $33.63 / oz | $3.89 / lb | $14.00 / lb | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $2,975.87 | $270.55 | $1,411.39 | $139.31 | ||
| Percentage of Total Metal Value | 62.03% | 5.64% | 29.42% | 2.90% | ||
| Metal Value Percentage Proven + Probable | 0% | 0% | 0% | 0% | ||
| Metal Value Percentage Measured + Indicated | 74% | 72% | 74% | 73% | ||
| Metal Value Percentage Inferred | 26% | 28% | 26% | 27% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Average Ore Value US$/t | Gold | Silver | Copper | Molybdenum | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|---|---|---|
| KSM | British Columbia, Canada | $4,163.97 ( 86.8% ) | US$50.08 | 59.58 M oz | 353.13 M oz | 7.22 M t | 198.12 K t | 0 | 75% | 25% |
| Courageous Lake | Northwest Territories, Canada | $448.31 ( 9.3% ) | US$125.92 | 11.40 M oz | 0 | 70% | 30% | |||
| Quartz Mountain | Oregon, USA | $108.01 ( 2.3% ) | US$46.20 | 2.75 M oz | 0 | 62% | 38% | |||
| Grassy Mountain | Oregon, USA | $38.72 ( 0.8% ) | US$83.39 | 984.65 K oz | 0 | 94% | 6% | |||
| Red Mountain | British Columbia, Canada | $25.95 ( 0.5% ) | US$309.63 | 660.03 K oz | 0 | 62% | 38% | |||
| Castle / Black Rock | Nevada, USA | $12.17 ( 0.3% ) | US$26.28 | 309.51 K oz | 0 | 69% | 31% |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
Latest NI43-101 Report: Seabridge Acquires Nevada Gold Project, News Release
2000-10-10 (3 pages).
Updates: Mineral Reserves and Resources webpage (viewed January 2012).
Project Location: Nevada, USA.
Average Ore Value (all estimate types): US$26.28
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $8.45 | 214.93 K oz | 0.540 g/t | 12.38 M t |
Estimate notes:
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $3.72 | 94.57 K oz | 0.370 g/t | 7.95 M t |
Estimate notes: See Measured note.
Latest NI43-101 Report: Courageous Lake Updated Preliminary Economic Assessment 2011
2011-07-15 (450 pages).
Updates: Seabridge Adds More Than 1 Million Ounces of M&I Gold Resources at Courageous Lake Tuesday, 10th January 2012.
Project Location: Northwest Territories, Canada. View Couragious Lake deposit on a Google Map.
Average Ore Value (all estimate types): US$125.92
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $313.37 | 7.97 M oz | 2.310 g/t | 107.32 M t |
Estimate notes:
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $134.93 | 3.43 M oz | 2.180 g/t | 48.96 M t |
Latest NI43-101 Report: Grassy Mountain Technical Report
Malheur County, Oregon
2007-04-27 (111 pages).
Updates: Seabridge Gold Mineral Resources web page, viewed October 19, 2009.
Project Location: Oregon, USA. View the Grassy Mountain project on a Google Map.
Average Ore Value (all estimate types): US$83.39
Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $36.32 | 923.75 K oz | 1.540 g/t | 18.66 M t |
Estimate notes: Mineral Reserves and Resources webpage (viewed January 2012).
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $2.39 | 60.90 K oz | 1.100 g/t | 1.72 M t |
Estimate notes:
Seabridge Gold Inc.'s (Seabridge) Kerr, Sulphurets, and Mitchell (KSM) Project involves the development of a major gold-copper deposit located in northwest British Columbia (BC) off Highway 37, approximately 68 km by air north-northwest of Stewart, BC. The KSM Project includes four major mineralized zones, identified as the Mitchell, Kerr, Sulphurets, and Iron Cap deposits. The deposits contain significant gold, copper, silver, and molybdenum mineralization. [Source: May 2, 2011 Report Summary]
Latest NI43-101 Report: Kerr-Sulphurets-Mitchell (KSM) Prefeasibility Study Update 2011
2011-06-15 (679 pages).
Updates: Mineral Reserves and Resources webpage (viewed January 2012).
Project Location: British Columbia, Canada. View KSM property on a Google Map.
Average Ore Value (all estimate types): US$50.08
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1,772.45 | 45.08 M oz | 0.550 g/t | 2.55 B t |
| Silver | $194.66 | 254.08 M oz | 3.100 g/t | 2.55 B t |
| Copper | $1,045.94 | 5.35 M t | 2,100.000 g/t | 2.55 B t |
| Molybdenum | $102.17 | 145.31 K t | 57.000 g/t | 2.55 B t |
Estimate notes: See Table 1.1 Measured, Indicated, and Inferred Mineral Resources for KSM on p. 10 of 44 of
report summary, May 2, 2011.
Note: Measured + Indicated contain 38.5M oz of Proven + Probable reserve. Proven + Probable are not reported separately since
Measured + Indicated figures exclusive of Proven + Probable were not provided. See Table 1.13 Proven and Probable Reserves
in report summary.
Mineral Resources tabulated in Table 1.1 were not
constrained by conceptual pits.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $570.28 | 14.50 M oz | 0.410 g/t | 1.10 B t |
| Silver | $75.89 | 99.05 M oz | 2.800 g/t | 1.10 B t |
| Copper | $365.45 | 1.87 M t | 1,700.000 g/t | 1.10 B t |
| Molybdenum | $37.14 | 52.81 K t | 48.000 g/t | 1.10 B t |
Estimate notes: See notes for Measured + Indicated
Proven + Probable
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|
Estimate notes:
Updates: Mineral Reserves and Resources webpage (viewed January 2012).
Project Location: Oregon, USA.
Average Ore Value (all estimate types): US$46.20
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $67.23 | 1.71 M oz | 0.920 g/t | 57.81 M t |
Estimate notes: Seabridge Gold Mineral Resources web page, viewed October 19, 2009.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $40.78 | 1.04 M oz | 0.720 g/t | 44.80 M t |
Estimate notes:
Latest NI43-101 Report: Mineral Resource Estimation
Zones 132 and 141, Red Mountain
Gold Project, British Columbia
2005-01 (91 pages).
Updates: Mineral Reserves and Resources webpage (viewed January 2012).
Project Location: British Columbia, Canada. View the Red Mountain project on a Google Map.
Average Ore Value (all estimate types): US$309.63
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $16.20 | 412.04 K oz | 8.010 g/t | 1.60 M t |
Estimate notes: Mineral Reserves and Resources webpage (viewed January 2012).
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $9.75 | 247.98 K oz | 3.710 g/t | 2.08 M t |
Estimate notes:
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