Rudi Fronk, chairman and CEO of Seabridge Gold, said his company offers significant leverage to rising metal prices.
Fronk spoke to Kitco at the Rule Symposium Natural Resource Investing 2023 show held in Boca Raton, Florida.
"What we're most proud of is keeping our share count relatively low over the 24 years since we've been in business," he said. "Today, we only have 83 million shares outstanding, but we've 170 million ounces of gold and over 50 billion pounds of copper in all resource categories, so if you look at us on a per share basis, two ounces of gold per common share and over 600 pounds of copper per common share, that provides the leverage and the optionality to higher metal prices."
Seabridge Gold (TSX: SEA) has one of the world's largest resources of gold, copper and silver in its KSM project, located in the Golden Triangle of northwestern B.C. KSM represents three of five deposits in a project hosting 11 billion tons of economic resources.
The company recently closed a USD$150 million financing with Sprott Streaming, part of a CAD$500 million secured note structure which, at the point of commercial production, will convert into royalties.
Early-work investments include building roads, bridges, camps, fish compensation areas, and tying into the power grid.
Kitco Mining's coverage of the Rule Symposium Natural Resource Investing 2023 was sponsored by G Mining Ventures.