RE:SEA Files Preliminary Shelf Prospectus / C$ 100 mioOlympia2 wrote: The shelf prospectus filings, when final, will allow the Company to make offerings of common shares up to an aggregate total of Cdn$100 million during the 25-month period that the final short form base shelf prospectus remains effective. Common shares may be offered in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in one or more shelf prospectus supplement(s) and, subject to applicable regulations, may include at-the-market transactions, public offerings or strategic investments.
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This is the exact wording they used in their July, 2014 shelf prospectus. Afterward, they used stock to acquire Snip and Snowstorm (Nevada). In the 2014 and 2019 press releases they also state that they have already funded exploration activity for the year, so this money would be used for something else. Look for further acquisition activity over the next 18 - 24 months from Seabridge.
The best case scenario for Teuton is that they use the stock for a Treaty Creek deal that locks in their ability to build the MTT tunnel. Since I consider Seabridge stock to be undervalued relative to the reserves they have at KSM I would take the stock in a heartbeat.