0001062993-24-007304.txt : 20240328 0001062993-24-007304.hdr.sgml : 20240328 20240328095441 ACCESSION NUMBER: 0001062993-24-007304 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240327 FILED AS OF DATE: 20240328 DATE AS OF CHANGE: 20240328 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEABRIDGE GOLD INC CENTRAL INDEX KEY: 0001231346 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32135 FILM NUMBER: 24794193 BUSINESS ADDRESS: STREET 1: 106 FRONT STREET EAST STREET 2: SUITE 400 CITY: TORONTO STATE: A6 ZIP: M5A 1E1 BUSINESS PHONE: 416-367-9292 MAIL ADDRESS: STREET 1: 106 FRONT STREET EAST STREET 2: SUITE 400 CITY: TORONTO STATE: A6 ZIP: M5A 1E1 6-K 1 form6k.htm FORM 6-K Seabridge Gold Inc.: Form 6-K - Filed by newsfilecorp.com

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2024

Commission File Number 1-32135

SEABRIDGE GOLD INC.
(Name of Registrant)

106 Front Street East, Suite 400, Toronto, Ontario, Canada M5A 1E1
(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [   ]          Form 40-F [X]


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  Seabridge Gold Inc.
  (Registrant)
     
  By:  /s/ Chris Reynolds
  Name: Chris Reynolds
  Title: VP Finance and CFO
     
     
     
Date: March 27, 2024    


EXHIBITS

Exhibit   Description
   
99.1   News Release dated March 27, 2024


EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 Seabridge Gold Inc.: Exhibit 99.1 - Filed by newsfilecorp.com

News Release

Trading Symbols: TSX: SEA For Immediate Release
  NYSE: SEA March 27, 2024

Seabridge Gold Files 2023 Annual Information Form, Year End

Audited Financial Statements and MD&A

Toronto, Canada… Seabridge Gold announced today that it has filed its Annual Information Form, Audited Consolidated Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2023 on SEDAR (www.sedarplus.ca).  These documents are also available on the Company's website at https://www.seabridgegold.com/investors/financial-reports. Seabridge's Form 40-F will be filed shortly with the SEC on EDGAR (www.sec.gov/). The Company's Shareholders may, upon written request, receive a hard copy of the Company's complete 2023 audited consolidated financial statements free of charge.

Financial Results

During the year ended December 31, 2023 Seabridge posted a net loss of $29.3 million ($0.35 per share) compared to a net loss of $7.4 million ($0.09 per share) for the previous 12 month period. During 2023, Seabridge invested $69.7 million in mineral interests, compared to $55.1 million in 2022. At December 31, 2023, net working capital was $54.5 million compared to $88.4 million at December 31, 2022.

The reported net loss for 2023 was mostly due to a non-cash $29.7 million loss associated with the remeasurement of the Secured Note liabilities that are structured to convert into royalties at KSM upon commercial production. Under IFRS, remeasurement of the Secured Note liabilities result in changes in the fair value at each reporting date, due to changes in input variables such as market interest rates and metal prices. However, these changes in fair value are unrealized. The Secured Notes will either be put back to the Company at the prescribed amount under the rights of the noteholders, or they will be exchanged for the prescribed royalties at maturity. For details on the accounting for the secured notes please see Note 12 to the 2023 Audited Financial Statements.

Seabridge holds a 100% interest in several North American gold projects. Seabridge's principal assets, the KSM project, and its Iskut project are located in British Columbia, Canada's "Golden Triangle", the Courageous Lake project is in Canada's Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in the Yukon Territory. For a full breakdown of Seabridge's mineral reserves and mineral resources by category please visit the Company's website at http://www.seabridgegold.com.

Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.

  ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and C.E.O.

For further information please contact:

Rudi P. Fronk, Chairman and C.E.O.

Tel: (416) 367-9292  •  Fax: (416) 367-2711

Email:  info@seabridgegold.com

106 Front Street East, Suite 400, Toronto, ON M5A 1E1, Canada

416-367-9292  www.seabridgegold.com


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