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Seabridge Gold Files Third Quarter 2025 Report, Details Financials and Project Updates
SA
Earnings
New Projects/Investments
Legal Proceedings
- Seabridge Gold reported a net loss of $32.3 million ($0.32 per share) for the third quarter ended September 30, 2025, compared to a net loss of $27.6 million ($0.31 per share) for the same period last year.
- The company significantly increased its investment in mineral interests to $52.9 million in Q3 2025 from $28.1 million in Q3 2024, and net working capital grew to $83.2 million at September 30, 2025, up from $37.8 million at December 31, 2024.
- KSM project activities are advancing, with the BC Hydro Treaty Creek Terminal construction on schedule for a Q4 2026 in-service date for power, and the company is in direct negotiations with a preferred candidate for a partnership arrangement.
- The 24,000-meter drill program at Iskut in 2025 confirmed a new large porphyry deposit at Snip North, including an intersection of 819 meters grading 0.66 g/t Au and 0.14% Cu in hole SN-25-30, with a resource estimate planned for Q1 2026.
- Court hearings challenging KSM's substantially started designation concluded, with a decision expected in Q1 2026, and Tudor Gold filed three additional challenges against KSM's Mitchell-Treaty-Tunnel authorizations.
Nov 13, 2025, 9:29 PM
Seabridge Gold Inc. Reports Q3 2025 Financial Results and Project Updates
SA
Earnings
Debt Issuance
New Projects/Investments
- Seabridge Gold Inc. reported a net loss of $32.3 million (or $0.32 per share) for the third quarter ended September 30, 2025, and a net loss of $9.4 million (or $0.09 per share) for the nine months ended September 30, 2025.
- The company's cash and cash equivalents increased to $103.1 million as of September 30, 2025, from $49.8 million at December 31, 2024, driven by US$100.2 million in gross proceeds from a bought deal offering and private placement in February 2025, and $36.5 million from flow-through financings in June and September 2025.
- Significant progress was made on key projects, with the Iskut Project on track to meet its $18.9 million 2025 budget and aiming to announce a maiden copper-gold mineral resource in Q1 2026, and the Courageous Lake Project's updated Preliminary Feasibility Study showing a 73% increase in after-tax NPV to US$523 million and a 51% reduction in initial capital to US$747 million.
- The fair value remeasurement of secured note liabilities resulted in a $24.3 million loss for the 2023 Secured Note and a $3.7 million gain for the 2022 Secured Note as of September 30, 2025. The KSM Project's Environmental Assessment Certificate (EAC) received a "Significant Development Designation" (SSD) in July 2024, making it no longer subject to expiry and reducing the possibility of investors putting the secured note back to the Company.
Nov 12, 2025, 10:09 PM
Seabridge Gold Recovers $4.4 Million After Successfully Challenging Tax Ruling
SA
Legal Proceedings
- Seabridge Gold Inc. recovered $4.4 million from the Canada Revenue Agency (CRA) on October 29, 2025, following a Supreme Court of BC (SCBC) decision that reversed CRA's denial of BC Mineral Exploration Tax Credits for 2010 and 2011.
- The SCBC judgment, rendered in March 2025, ruled that over 92% of the company's claimed expenses for those years qualified as mining exploration expenses.
- The company anticipates a further recovery of $9.4 million from the CRA, related to the denial of flow-through mining expenditures for its 2014-2016 exploration programs, believing the SCBC's reasoning should apply to this ongoing appeal.
Oct 29, 2025, 11:32 AM
Seabridge Gold faces third legal challenge over KSM Tunnel authorizations
SA
Legal Proceedings
New Projects/Investments
- Seabridge Gold Inc. is facing a third legal challenge from Tudor Gold Corp. regarding the authorization for its KSM Project's Mitchell Treaty Tunnels (MTT).
- Tudor Gold has filed a Petition in the British Columbia Supreme Court to void the September 2024 Licence of Occupation (2024 LoO), which grants Seabridge the right to construct and operate the MTT across Tudor's mineral claims.
- The 2024 LoO remains in effect despite the ongoing legal challenge.
- Seabridge's Chair and CEO, Rudi Fronk, expressed confidence in the Ministry's decision, noting the KSM Project's environmental assessment approvals and economic viability compared to Tudor's project.
Oct 7, 2025, 3:14 PM
Seabridge Gold's Snip North Deposit Continues to Grow with New Drill Results
SA
New Projects/Investments
- Seabridge Gold announced that drilling at its Snip North target on the Iskut Project continues to confirm the continuity, tenor, and size of copper-gold porphyry mineralization.
- Significant drill results include Hole SN-25-30 intersecting 560 meters of 0.87 grams per tonne gold (Au) and 0.16% copper (Cu), with a higher-grade section of 58 meters of 2.62 gpt Au and 0.40% Cu.
- The company has completed 18,000 meters of drilling to date and is expanding the program by an additional 3,000 meters.
- Seabridge anticipates announcing a mineral resource estimate for Snip North early next year (2026) based on the current drill program.
Sep 15, 2025, 8:55 PM
Quarterly earnings call transcripts for SEABRIDGE GOLD.
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