Past year: ▲ 14%(33.46 – 53.75 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2012drilling result▲ Good
First results from the deep hunt for a high-grade core under KSM: two of the four targets produced drilling consistent with a core zone, and the program was expanded and extended beyond the 11 holes originally planned.
10 Sept 2012drilling result▲ GoodMajor
Discovered high-grade gold at Walsh Lake, about 10 kilometres from the FAT deposit at Courageous Lake where Seabridge already holds a 6.5 million ounce proven and probable reserve; hole CL-210 returned 21.2 metres at 8.16 g/t gold, 5.6 metres at 5.93 g/t and a further intercept. The target appears to be the southern extension of the historic Tundra gold mine, abandoned in 1999.
29 June 2012resource reserve update● NeutralMajor
Filed the 2012 KSM preliminary feasibility study on SEDAR, the technical report behind results announced on 14 May 2012; prepared by Tetra Tech-Wardrop, it carries the panel-cave redesign and the access-route changes made after First Nations and regulator input, and the company said it is the basis for the permit application it expected to file later in the year.
3 Apr 2012drilling progress report● Neutral
Announced an 11-hole, 7,500-metre 2012 program testing four deep targets at KSM for a high-grade porphyry core of the kind found at Ok Tedi, Bingham Canyon and Grasberg. An exploration hypothesis, not a result.
14 Mar 2012drilling progress report● Neutral
An $8.5 million 2012 program at Courageous Lake, about 12,500 metres of drilling plus airborne geophysics, aimed at finding a second deposit along the 52 kilometres of greenstone belt Seabridge holds there, alongside more in-pit infill drilling.
8 Feb 2012resource reserve update▲ GoodMajor
KSM measured and indicated resources reached 49.0 million ounces of gold, 12.7 billion pounds of copper, 261 million ounces of silver and 304 million pounds of molybdenum, after the 2011 drilling added 3.7 million gold ounces to measured and indicated and 0.5 million to inferred. The estimate fed the April 2012 feasibility study.
11 Jan 2012resource reserve update▲ GoodMajor
The 2011 drilling paid off in the count: Courageous Lake measured and indicated resources rose 18% to 7.97 million ounces (107.3 million tonnes at 2.31 g/t) with 3.43 million ounces inferred (49.0 million tonnes at 2.18 g/t), converting about 1.2 million inferred ounces for roughly $6 million of drilling. A feasibility study due May 2012 was to report the project's first reserves.
4 Jan 2012drilling result▲ Good
Nine holes totalling 2,630 metres at KSM's Kerr deposit returned some of the highest grades yet drilled on the property, led by K-11-15 at 34.3 metres of 1.04 g/t gold and 1.88% copper, and opened the deposit down-dip.
29 Nov 2011drilling result▲ Good
Final Courageous Lake infill batch found Zone 8 far more continuous than thought, which Seabridge said could more than quadruple that zone's contribution to measured and indicated resources and lift the deposit's average grade; an updated estimate was promised within 45 days.
23 Nov 2011drilling result▲ Good
Final 14 Sulphurets holes of 2011; every one of the year's 34 holes there hit mineralisation above the reserve cut-off grade. A new resource estimate was scheduled for January 2012 and a rebuilt KSM feasibility study for April 2012.
1 Nov 2011drilling result▲ Good
Third batch of 2011 Courageous Lake infill results, which the CEO called among the best yet and said should raise both the grade and size of the FAT deposit's resource ahead of the mid-2012 feasibility study.
20 Oct 2011drilling result▲ Good
Twelve more Sulphurets holes at KSM, part of 34 holes and 11,480 metres drilled there in 2011; Seabridge expects the results to convert in-pit waste into measured and indicated resources and to lower the deposit's strip ratio. Assays from a further 15 holes were still outstanding.
22 Sept 2011drilling result▲ GoodMajor
Five geotechnical holes at KSM's Mitchell deposit supported mining the deeper part of the deposit by underground panel caving after an initial open pit, which Seabridge said would cut the strip ratio, waste rock volumes and environmental footprint. This design change is the one the company cited in December when it pushed its permit application back to the third quarter of 2012.
13 Sept 2011drilling result▲ Good
Second batch of 2011 Courageous Lake infill results, 13 core holes, which Seabridge said confirm the resource model with some intercepts wider and better grade than predicted - the same upgrade-to-reserves exercise begun with the 10 holes reported in August.
9 Aug 2011drilling result▲ Good
First 10 infill holes of a $16 million summer campaign at the 100%-owned Courageous Lake project in the Northwest Territories, drilled to convert inferred ounces into reserves for a preliminary feasibility study due in the second quarter of 2012; 38 more holes were planned before the program ended in September.
27 July 2011drilling result▲ Good
First seven holes of the 2011 program at the Sulphurets deposit on Seabridge's 100%-owned KSM project in northwest British Columbia, drilled specifically to move about 3 million ounces of higher-grade inferred gold that the 2011 study counts as waste into the reserve category; hole S-11-34 cut 64.6 metres at 1.28 g/t gold and 0.13% copper. The company said the intercepts were wider and better grade than expected and should increase reserves.
20 June 2011resource reserve update▲ GoodMajor
Filed the 2011 KSM prefeasibility study, prepared by Wardrop, which identified two higher-throughput scenarios said to improve the economics substantially. This is the study whose reserves - 38.5 million ounces of gold and 10 billion pounds of copper - anchor everything that follows.
10 June 2011drilling progress report● Neutral
Started the 2011 drill program at KSM.
13 Jan 2010resource reserve update▲ GoodMajor
KSM measured and indicated resources rose 13% to 38.9 million ounces of gold and 17% to 10.0 billion pounds of copper, with Mitchell alone at 33.7 million ounces - which the company called the largest gold deposit ever found in Canada.
22 Dec 2009resource reserve update● Neutral
Confirmed the KSM prefeasibility study was on schedule for the end of March 2010 and that design changes recommended by Thyssen Mining were likely to cut capital and operating costs.
3 Nov 2009drilling result▲ Good
Kerr drilling completed the 2009 upgrade exercise across all three KSM deposits, with a new resource estimate promised before year end.
27 Oct 2009drilling result▲ Good
Mitchell drilling was expected to upgrade in-pit inferred resources and to improve the ore-to-waste ratio by reclassifying material previously counted as waste.
14 Oct 2009drilling result▲ Good
Sulphurets drilling came in better than expected and was expected to convert substantially all the remaining in-pit inferred material to measured and indicated.
30 July 2009resource reserve update▲ GoodMajor
An updated economic study for KSM cut initial capital 10% and unit operating costs 11% against the 2008 version.
7 Jan 2009drilling result▲ Good
The last two holes of 2008 confirmed a higher-grade breccia zone extension at Sulphurets.
22 Dec 2008drilling result▲ Good
Final 13 Mitchell holes of 2008 - two exploration, three infill and eight geotechnical - with an updated resource estimate expected in February 2009.
1 Dec 2008resource reserve update▲ GoodMajor
First economic study of KSM: a 30-year mine recovering more than 19 million ounces of gold at a cash operating cost of negative US$11 an ounce after base metal credits, and US$233 an ounce in total. The number that has justified holding KSM ever since.
19 Aug 2008drilling result▲ Good
First nine holes of the 2008 program infilled the eastern side of Mitchell and tested for a northeast down-dip extension.
16 June 2008drilling progress report● Neutral
Began a 15,000 metre program at KSM to upgrade and expand Mitchell.
22 Feb 2008resource reserve update▲ GoodMajor
The rebuilt Mitchell estimate moved more than 55% of the gold into the indicated category, where the whole of the 2007 estimate had been inferred - the confidence upgrade that makes a deposit financeable rather than merely large.
