1. Seabridge Gold (SA) is a mineral exploration company engaged in acquiring projects with gold resources in North America, and expanding and verifying these resources through further exploration.
The company also undertakes engineering work required to move these resources to reserves and determines their economic value. With principal projects in Canada, it holds six properties with gold resources, and its material properties are the KSM Project and the Courageous Lake Project.
The company recently said it achieved continued drilling success at its sulphurets deposit. Results from the first seven core holes drilled at the deposit could expand reserves and enhance the project's overall economics. Seabridge says the program is designed to upgrade almost three million ounces of higher-grade inferred gold resources at the Sulphurets and Kerr deposits to proven and probable reserves this year. These resources are currently graded as waste in the 2011 Preliminary Feasibility Study.Late June, in a private placement program, Royal Gold purchased 1.02 million common shares of Seabridge at $30.39 per share, indicating a 15% premium over the volume weighted average trading price of SA's shares for the five-day trading period ending June 14. Golden Predator and Seabridge Gold recently agreed to contribute an industry-leading portfolio of U.S. gold assets into a separate company called Wolfpack Gold from which they would earn minority interests. To advance their Canadian assets, both companies have decided to transfer five advanced stage and development properties to not only create value from undervalued assets but also to build a premier gold exploration and development company with its principal projects in the leading gold district of Nevada in the U.S. All three analysts covering the stock rate it a buy. There are no sell ratings on the stock. On average, analysts polled by Bloomberg expect the stock to gain an average of 180.4% to $82.09 in the coming 12 months.
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