Seeking Alpha

Fellow author Ben Kramer Miller released an article on Seabridge Gold (SA) recently and we would like to respectfully analyze his "thesis" and some of his statements in support of it.

Here is a quick summary of the company's profile: Seabridge Gold is a precious metal exploration company with a flagship property in British Columbia called Kerr-Sulphurets Mitchell project, or KSM project. This low grade bulk mining project contains 38.2M in proven and probable reserves and 9.9B lbs of copper rendering it one of the largest undeveloped gold deposits worldwide. In 2012 Seabridge Gold released an updated PFS on the project showing an NPV (8%) of $1.6B and an IRR of 11.5% at an assumed...

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