Connect with us

Precious Metals

Mining Co. Boosts M&I Resources by Nearly 1 Billion Tons

Source: Streetwise Reports   04/20/2022

The upgrading of resources from Inferred to Measured and Indicated "should allow the company to demonstrate…

Published

on

This article was originally published by The Gold Report

Source: Streetwise Reports   04/20/2022

The upgrading of resources from Inferred to Measured and Indicated “should allow the company to demonstrate improved economics compared to [its] previous prefeasibility study,” noted a ROTH Capital Partners report.

Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) converted a significant amount of Inferred resources to the Measured and Indicated (M&I) category with its resource estimate update for KSM’s Mitchell and East Mitchell deposits, reported ROTH Capital Partners analyst Joe Reagor in an April 14 research note. This change “should benefit the project’s economic outlook in the upcoming prefeasibility study (PFS).”

Reagor presented the previous and current resource figures for both deposits.

At Mitchell, Indicated resources now are 1,667,000,0000 (1.667 Bt), up from 1.045 Bt. Measured resources decreased to 691,700,000 tons (691.7 Mt) from 750 Mt.

As for East Mitchell, previously Snowfield, Measured resources grew to 1.012 Bt from 190 Mt. Indicated resources went down to 746 Mt from 1.18 Bt.

The M&I resources for Mitchell and East Mitchell together stand at 4.118 Bt versus the pre-update total of 3.165 Bt.

“We see the aforementioned resource increase as a significant positive for the company as it works to complete an updated PFS” that could be “a significant positive catalyst for Seabridge,” Reagor wrote.

ROTH has a Buy rating and a $30 per share price target on Seabridge. In comparison, its current share price is around $21.49.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosures

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Seabridge Gold Inc. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.  

Disclosures for ROTH Capital Partners, LLC, Seabridge Gold Inc., April 14, 2022

ROTH makes a market in shares of Seabridge Gold, Inc. and as such, buys and sells from customers on a principal basis.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high
degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH.

Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

( Companies Mentioned: SEA:TSX; SA:NYSE.MKT,
)

tsx
nyse
gold
tsx-sea
seabridge-gold-inc
seabridge gold inc

Author: Author

Precious Metals

Japan Probably Needs To Move To The Pro-China Camp

Japan Probably Needs To Move To The Pro-China Camp

By Russell Clark of the Capital Flows and Asset Markets Substack

Japan has benefited massively…

Continue Reading
Precious Metals

Why These Penny Stocks Climbed on May 19th, 2022

Can penny stocks show positive momentum in May?
The post Why These Penny Stocks Climbed on May 19th, 2022 appeared first on Penny Stocks to Buy, Picks,…

Continue Reading
Economics

US Close – Stocks near bear market, Oil higher on supply concerns, Gold pops, Bitcoin stabilizes

US stocks edged lower as Wall Street became more focused over a deteriorating growth outlook that could see stubbornly high pricing pressures for the Fed…

Continue Reading

Trending