is a mineral exploration company engaged in acquiring projects in North America with gold resources.
Seabridge Gold is advancing two Canadian gold projects toward feasibility status: the KSM project located in northwestern British Columbia; and the Courageous Lake project located in the Northwest Territories. The latest available update shows measured and indicated gold resources at the KSM project at 45.3 million ounces and an additional 14.5 million ounces classified as inferred resources. Similarly, measured and indicated gold resources at Courageous were 90.2 million ounces and inferred stood at 63.0 million ounces.
For the first nine months of 2010, the company's cash and cash equivalents stood at $3.6 million, compared with $338,277 in the year-ago period. Canada-based Calico Resources recently revealed that it intends to buy the Grassy Mountain Project owned by Seabridge. Under the terms of the agreement, Calico will issue two million shares after the execution of a definitive agreement. Furthermore, four million shares will be issued on the first anniversary of the execution of the agreement and eight million shares will be issued when the project receives permits for the construction and operation of a mine.
Both analysts covering the stock rate it a buy. On average, Analysts polled by
expect the stock to gain 190%, to $90.10, in the coming 12 months.
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