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Summary

  • Permitting hurdle overcome.
  • Makes KSM project more attractive for potential takeover, as explained in our article.
  • Public participation initiated prior to federal decision.

In a news release dated July 31, 2014, Seabridge Gold (NYSE:SA) reported that the company has received approval of its "Application for an Environmental Assessment Certificate" for its KSM project from the British Columbia Ministers of the Environment and Energy and Mines. As explained in our recent article, this approval represents an important milestone, de-risking the KSM project and making it more attractive for potential partners in project development.

On a federal level, the Canadian Environmental Assessment Agency, or CEAA, has also released its final Comprehensive Study Report for the KSM project, and has posted the report on its website for a 30-day public comment period. Once public participation is concluded, the federal Environment Minister will decide whether to approve the KSM project.

Despite this notable progress in developing this large project, we caution investors and would like to remind readers of the Taseko Mines (NYSEMKT:TGB) saga, where federal agencies have denied approval for the New Prosperity mine after it was received positively on a provincial level in BC.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.

Source: Update: Seabridge Gold Receives Approval From BC Environmental Assessment Office