RE:RE:RE:RE:RE:RE:RE:Well…….I think the LOA has about 13 months left. My sense is that Seabridge may be resigned to a new tunnel route. The "substantially started" classification will not be in place by then.
The Tudor action to invalidate the current tunnel route may be designed to force a statement from Seabridge in the short term.
The idea that Seabridge may have a partner within 9 months has some merit, but with the market valuing a likely total of 200 million oz. AuEq (including 3Aces Snowstorm Iskut etc) at only $1 billion USD ($5/oz.) I almost expect an offer for the company at around $22/share instead - from a major with a healthy stock price and the offer would be all stock. The question is whether the same major would buy Tudor first, maybe getting a better price for Tudor than it would by getting KSM then having to negotiate for Tudor later (I am assuming that TC is Phase I of the combined project). Thoughts?