"Our first priority is to generate a high quality resource for Deep Kerr which could have a very significant economic impact on the KSM project particularly if it proves to be accessible from the Sulphurets valley floor by way of an inclined tunnel.
"Our second priority is to test the deep potential of the McQuillan and Iron Cap core zone targets." The company is "increasingly confident that this core zone program is the game-changing development we had hoped for."
Fronk concluded, "We have demonstrated that exceptional exploration potential remains within the KSM project and that we have the geological team to unlock it. Our aim for next year is to establish KSM as an unparalleled opportunity for the world's largest mining companies."
Jim Cramer's Protégé, Dave Peltier, finds you Stocks Under $10 picks with explosive upside potential. See what he's trading today with a 14-day FREE pass.
Here's a test question for all investors and traders who are interested in precious metals investments. What is better than owning a gigantic gold and copper mine with tons of yet-to-be extracted ore?
The answer is, own a company that has exercised share options to acquire, by way of private placement, C$18 million of the treasury shares of the company that owns this kind of bonanza mother lode.
As Seabridge Gold stated Thursday, "By exercising the share option, [<b>Royal Gold</b> <span class=" TICKERFLAT">(<a href="/quote/RGLD.html">RGLD</a> - <a href="http://secure2.thestreet.com/cap/prm.do?OID=028198&ticker=RGLD">Get Report</a><a class=" arrow" href="/quote/RGLD.html"><span class=" tickerChange" id="story_RGLD"></span></a>)</span>] obtains a second royalty option to acquire a further 0.75% net smelter return royalty on all gold and silver production from Seabridge's KSM project.
"Royal Gold can exercise the second royalty option by electing to acquire the 0.75% NSR within 60 days following Royal Gold's agreement that the KSM project is in receipt of all material approvals and permits, full project financing and certain other conditions and [by] paying Seabridge C$60 million in three equal payments over the 18 month period after such election."