Seabridge Chairman and CEO Rudi Fronk noted, "when we began our search for a core zone at KSM, we assumed that the four main deposits would probably link to one such zone. We now believe that there may be several deep seated sources.
The additional C$18 million private placement will be used in part to complete the environmental assessment process. The company invested more than $100 million at the KSM project and expects to file the environmental applications with regulators in January. SA's principal assets are the KSM property located near Stewart, British Columbia, Canada, and the Courageous Lake gold project located in Canada's Northwest Territories. It can be stated subjectively that it appears now is a great time to own these shares. Consider placing a trailing stop loss on the shares you buy to reduce risk while maximizing gains. At the time of publication the author is long SA and RGLD. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage. Jim Cramer and Stephanie Link actively manage a real money portfolio for his charitable trust- enjoy advance notice of every trade, full access to the portfolio, and deep coverage of the latest economic events and market movements.