The Investment Doctor
Long/short equity, value, debt, base metals

Seabridge Gold: Will Its KSM Project Ever Get Built?


In this article I'll have a closer look at Seabridge Gold (NYSEMKT:SA) which is hoping to develop its gigantic Kerr-Sulphurets Mitchell-Project ('KSM') in British Columbia, Canada. I'll outline the reasons why I don't think this project will be built in the current gold price environment and will explain why the project wouldn't be viable at the current gold price. In this article I'll only focus on the KSM project and I'll value its Courageous Lake project at zero at this moment, as that project has a total cash cost of in excess of $1100/oz.

In this article I'll have a closer look at the company's projected output and costs, and I will apply a cost escalation factor...

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