This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Seabridge Gold And Nisga'a Nation Enter Into Benefits Agreement Regarding KSM Project

Trading Symbols: TSX: SEA  NYSE: SA

TORONTO, June 17, 2014 /PRNewswire/ - Seabridge Gold reported today that it has entered into a comprehensive Benefits Agreement with the Nis ga'a Nation in respect of Seabridge Gold's KSM Project, located in northwest British Columbia. The Benefits Agreement establishes a long-term co-operative relationship between Seabridge and the Nis ga'a Nation under which the Nis ga'a Nation will support development of the Project, participate in economic benefits from the Project and provide ongoing advice.

The Agreement includes commitments by Seabridge regarding jobs and contracting opportunities at the KSM Project, education and training, financial payments and a framework for working together on ongoing development matters. This comprehensive agreement also addresses concerns expressed by the Nis ga'a Nation around the potential environmental and social impacts of the KSM Project.

Seabridge Chairman and CEO Rudi Fronk comments that:

"This formal expression of support from the Nis ga'a Nation is a major step forward for KSM. As the only Treaty nation involved in the KSM environmental assessment process, the Nis ga'a's views carry considerable weight. This Agreement validates Seabridge's open, transparent and flexible approach to working with the Nis ga'a Nation and First Nations generally on development of the KSM Project, and the KSM Project is better for it. We are proud that a strong, trusting and mutually respectful relationship with the Nis ga'a Nation has grown out of our work with them over the last six years. Their support of the Project reflects their detailed, independent assessment that the Project can be built and operated in an environmentally responsible way."

Mitchell Stevens, President of Nis ga'a Nation, comments that:

"We appreciate Seabridge's open and direct approach to working with the Nis ga'a Nation.  They began consulting with us very early on in the development of the KSM Project design. They listened to our concerns and took them seriously. They have been very responsive to our concerns around the environmental and social impacts of the project on Nis ga'a Treaty interests.  As well, Seabridge has demonstrated a real willingness to assist the Nis ga'a Nation in creating genuine economic opportunities and building the capacity of Nis ga'a citizens."

Highlights of the Agreement include:
  • Nis ga'a Nation agreement to provide letters in support of the KSM Project to British Columbian and Canadian regulators, as well as potential investors in Seabridge or the Project.
  • Financial payments upon the achievement of certain Project milestones and annual production payments based on a percentage of net profits, with the net profits payable normalizing after the Project has recovered its capital costs, as determined under the terms of the Agreement.
  • Strong commitments to education and training of Nis ga'a citizens so that they will be better able to take advantage of the economic benefits the KSM Project offers.
  • Mutual co-operation on completing the operational permitting process for the Project.
  • A framework for the Nisga'a Nation and Seabridge to work together to achieve employment targets and to ensure Nis ga'a businesses will have preferred access to contracting opportunities.
  • Mutual co-operation on responding to social impacts which Nisga'a Villages may experience as a result of the Project.

The Agreement will remain in effect throughout the life of the KSM Project and will apply to future partners in the Project.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.55 -0.74%
FB $119.32 1.30%
GOOG $710.87 1.30%
TSLA $215.00 1.60%
YHOO $37.24 0.80%


Chart of I:DJI
DOW 17,725.70 +64.99 0.37%
S&P 500 2,054.53 +3.90 0.19%
NASDAQ 4,727.9340 +10.84 0.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs