Files Second Quarter 2021 Report to Shareholders Toronto, Ontario--(Newsfile Corp. - August 13, 2021) - Seabridge Gold (TSX: SEA) (NYSE: SA) announced today that it has filed its Report to Shareholders, Interim Financial Statements and Management's Discussion and Analysis for the three months period ended June 30, 2021 on SEDAR (www.sedar.com). To review these documents on the Company website, please see https://www.seabridgegold.com/investors/financial-reports.
Recent Highlights
- Residual interest in Red Mountain sold for US$18 million in cash
- Field activities at KSM underway to incorporate Snowfield deposit into new 2022 PFS
- Cost sharing agreement executed on Coulter Creek Access Road for KSM
- 2021 exploration program commences at Snowstorm, Nevada
- New geophysical evidence supports the potential for large gold-copper porphyry system at Iskut
- Sustainability Mandate approved by Board
- Record $63.9 million in working capital at June 30
Financial Results
During the three-month period ended June 30, 2021 Seabridge posted a net profit of $14.5 million ($0.19 per share) compared to a net loss of $4.1 million ($0.06 per share) for the same period in 2020. During the 2nd quarter, Seabridge invested $9.6 million in mineral interests project spending compared to $4.4 million in the second quarter of 2020. At June 30, 2021, net working capital was $63.9 million compared to $36.0 million at December 31, 2020.
Seabridge holds a 100% interest in several North American gold projects. Seabridge's assets include the KSM and Iskut projects located near Stewart, British Columbia, Canada, the Courageous Lake project located in Canada's Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project located in the Yukon Territory. For a full breakdown of Seabridge's mineral reserves and mineral resources by category please visit Seabridge's website at https://www.seabridgegold.com.
None of the Toronto Stock Exchange, New York Stock Exchange, or their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.
Technical Information
Unless otherwise indicated, the technical and scientific disclosure contained or referenced in this press release, including any references to mineral resources or mineral reserves, was prepared in accordance with Canadian National Instrument 43-101 ("NI 43-101"), which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC") applicable to U.S. domestic issuers. Accordingly, the scientific and technical information contained or referenced in this press release may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC.