Seabridge Gold posts $900,000 earnings in 2021

Seabridge Gold Inc. [SEA-TSX; SA-NYSE] filed its annual information form, audited consolidated financial statements, and management discussion and analysis for the year ended December 31, 2021 on SEDAR. These documents are also available on the company’s website. Seabridge’s Form 40-F will be filed shortly with the U.S. SEC on EDGAR. Seabridge plans to issue its Annual Report to Shareholders shortly after completion of the updated KSM Preliminary Feasibility Study expected in June.

In 2021, Seabridge posted net income of $0.9 million ($0.01 per share) compared to a loss of $14.9 million ($0.23 per share) in 2020. During 2021, Seabridge invested $74.4 million in mineral interests, property and equipment compared to $166 million in mineral interests, including the acquisition of the East Mitchell deposit and 3 Aces project, in 2020.

The company’s working capital position at December 31, 2021, was $36.9 million and compares to the $36 million reported as at December 31, 2020. Subsequent to December 31, 2021, the company’s working capital was significantly strengthened through completion of a US$225 million financing with Sprott Resource Streaming and Royalty Corp. and Ontario Teachers’ Pension Plan.

Seabridge holds a 100% interest in several North American gold projects. Its assets include the KSM and Iskut projects located near Stewart, northwestern British Columbia, the Courageous Lake project in the Northwest Territories, the Snowstorm project in the Getchell Gold Belt of northern Nevada and the 3 Aces project in the Yukon Territory.