RE:presentationThe gold figures are taken from a 2012 PFS. Seabridge is not looking to spend 3 billion to develop a mine. Reading the Corporate Strategy details the Companies objectives.
"We decided that our competitive advantage at Seabridge would be to evaluate, acquire, explore and develop gold deposits. From our inception, we determined that Seabridge would not build or operate mines...we would look to partner or sell assets which were ready for production. Building mines adds considerable technical and financial risks and requires a different set of skills and resources. Nor did we wish to undertake grass roots exploration which is very high risk. We therefore narrowed our value-added proposition to three phases which would unfold as the gold price rose...acquiring known deposits, expanding them and defining their economic parameters. In our view, this was a relatively lower risk and less capital-intensive strategy consistent with the goal of optimizing gold ownership while limiting share dilution."