RE:At the market offerings Thanks for your post, which promted me to read the MD&A. Your suggestion that the financing is responsible for the recent anomalous weakness of SA v.s GDXJ is a possibility, if so it would be due to the perception of SA doing an unusually large amount of finacing, rather than sales of stock into the market, IMO.
You ask some good questions. The market for securing capital by selling gold stocks is the strongest it has been for many years and Rudi may well be taking advantage of that in the recent financing. Not because he thinks this is "a once in a lifetime chance to get funding", he knows its going to get much better, which begs the question of why build up such a large, ($40million), war chest now? Iskut & Snowstorm are possibilities, but as you say SA usually does its funding piece-meal as the needs arise, and to raise so much money before it is needed is out-of-character.
Since you bought your first Seabridge stock for $1.53, (! ?), you have been a shareholder for a very long time. Over the last 14 years the objective "to grow ounces in the ground faster than shares outstanding", ( #6 in Corporate Presentation), has been realized. Rudi Fronk & Jim Anthony truly have the value of Seabridge shares at the top of their agenda, (listen to their comments in the Red Cloud Securities interview, July 16, on this board). So the reason for the recent financing is clear, to add shareholder value, but precisely how this is to be done remains unclear. Perhaps an acquisition is coming, or it is connected, somehow, to the on going KSM negotiations. Whatever, the shepherding of so many mineral resources with the issuance of so few Seabridge shares by management is a marvel to behold in the junior resource sector!