SEABRIDGE GOLD INC. - CANADA - 500 Beiträge pro Seite

[konradi]

.


So, dann will ich auch mal eine Sau durchs Dorf treiben ...





http://www.seabridgegold.net/investor_kit.htm




LISTING: TSX.V (Toronto)

SYMBOL: SEA

NEWS: http://investdb.theglobeandmail.com/invest/investSQL/gx.symb…

Die Aktie wird auch in Deutschland gehandelt. (WKN 541875) Die Umsätze sind natürlich verschwindend gering ...







Der nachfolgende Text entstammt auszugsweise der website:

http://mitglied.lycos.de/outperform/Gold.htm

Gruß an den anonymen Betreiber, der sich vermutlich auch hier im WO Goldforum herumtreibt ...

(...)


Kanada etwa ist einer der groessten Goldproduzenten der Welt. Eines dieser Unternehmen ist die kanadische Seabridge Gold. Die Gesellschaft ist an der Boerse in Toronto unter dem Kuerzel SEA.V notiert.

Um das Geschaeftsmodell der Firma zu verstehen, muss man folgendes wissen: Waehrend des 20jaehrigen Baerenmarktes hat bei den Goldproduzenten das grosse Aufraeumen stattgefunden. Zahllose unrentable Minen mussten ihre Pforten schliessen, viele fuer immer. In dieser Zeit gab es fuer weitblickende Investoren die Moeglichkeit, die nun zum Verkauf anstehenden Goldvorkommen der Konkurs-Firmen zu absoluten Schnaeppchenpreisen zu erwerben. Und genau dies hat die Fuehrungsriege von Seabridge Gold getan.

Heimlich still und leise wurden in Nordamerika und Kanada zahlreiche Qualitaetsvorkommen zu Spottpreisen aufgekauft, und zwar nur dann, wenn Menge und Guete des Edelmetalls zweifelsfrei nachgewiesen werden konnten. Das Resultat kann sich sehen lassen. Heute verfuegt das Unternehmen ueber Vorraete von 14 Millionen Unzen Gold. Da die Vorkommen haeufig aus der Konkursmasse von Pleitefirmen uebernommen wurden, hat man im Durchschnitt pro Unze weniger als einen US-Dollar bezahlt.

Zusammengerechnet haben die frueheren Eigentuemer des Goldes jedoch mehr als 140 Millionen US-Dollar in die Projekte investiert, ehe sie an Seabridge verkauft wurden. Die durchschnittlichen Unterhaltskosten belaufen sich pro Jahr auf weniger als zehn US-Cent je Unze.

Noch interessanter wird das Ganze, setzt man die Bewertung der Gesellschaft mit den Goldvorkommen in Relation: Bei einer Marktkapitalisierung von gerade einmal 31 Millionen US-Dollar gibt es rund 16 Millionen Seabridge-Aktien, davon etwa acht Millionen im freefloat.

Anders gesagt: Fuer jede Aktie erhaelt man fast eine Unze Gold.

Beruecksichtigt man nur die im freien Handel verfuegbaren Anteilscheine, so sind es fast zwei Unzen je Aktie. Dies bei einem Aktienkurs von rund 1,80 US-Dollar und einem aktuellen Goldpreis von 316 US-Dollar je Feinunze.

Doch natuerlich hat die Sache einen Haken. Fuer Seabridge, oder einen moeglichen Kaufinteressenten der Goldvorraete, waere es erst bei einem Goldpreis von mehr als 350 US-Dollar rentabel, das im Boden schlummernde Metall abzubauen. Lohnen wuerde sich das in diesem Fall freilich allemal. Die 14 Millionen Unzen Gold repraesentierten dann einen Wert von fast fuenf Milliarden US-Dollar.

Was dann mit dem Aktienkurs geschehen wuerde, kann man sich leicht ausrechnen....


Risiko!

Wie ist es nun um die charttechnische Verfassung des Titels bestellt?
Die Rallye der vergangenen Monate hat die Anteilsscheine um fast 700 Prozent nach oben katapultiert. Aktuell befindet sich das Papier in einer Konsolidierungsphase knapp unterhalb von drei Can-Dollar. Sollte der Goldpreis weiter zulegen und dabei auch die charttechnisch wichtige Marke von 350 US-Dollar passieren, waere das allerdings erst der Anfang.

Umgekehrt ist das Risiko bei einem fallenden Goldpreis natuerlich betraechtlich. In diesem Fall kann man getrost davon ausgehen, dass der Kurs regelrecht "absaufen" wuerde - fast wie bei einem Optionsschein. Aber eben nur fast. Denn schliesslich haette der Anleger immer noch die Moeglichkeit, das Ganze auszusitzen und zu warten, ob es sich der Goldpreis nicht doch wieder anders ueberlegt. Dass man ein derartiges Engagement nur mit streng begrenztem Kapitaleinsatz eingeht, versteht sich von selbst. Ein Problem sind allerdings die in Deutschland praktisch nicht vorhandenen Umsaetze. Zwar wird das Papier in Berlin gehandelt (WKN 541875), es wurden jedoch in den vergangenen Monaten nur wenige Stuecke umgesetzt. Anleger muessen daher in den sauren Apfel beissen und die Papiere direkt in Toronto erwerben. Sollte die Spekulation allerdings aufgehen, dann fallen die paar Euro an zusaetzlichen Gebuehren nicht ins Gewicht.




aus dem Unternehmensprospekt:

Company Comparisons
Ounces of Gold Ownership per Fully Diluted ("FD" ) Share






Value Comparisons



(...)

Had you invested $1,000 in Nevsun and Seabridge at the start of the year – companies Bob Bishop’s Gold Mining Stock Report had fingered for profit – you would have gained an additional $17,000 by the end of the year (+858%). In addition, GMSR told clients to go long on Glamis Gold (+214%) and Goldfields (+191%) among some of its best picks.

[aus: Finding the top gold stock picker - Tim Woods /mineweb 13.01.2003 )

(...)

Seabridge Gold is designed to provide its shareholders with maximum leverage to a rising gold price. Over the past three years, when the gold price was low, Seabridge acquired 13.8 million ounces of gold resources, all in North America, including the 5.7 million ounce Courageous Lake deposit. More recently, as the gold price has risen, Seabridge has “banked” more than 25 high grade gold exploration projects in Nevada. The aim is to continue adding gold resources through further acquisitions and exploration funded largely by partners.

Our research shows that a dollar invested in Seabridge current shares at common prices provides ownership of more gold resources than a dollar invested in any other public North American gold vehicle. Each Seabridge share represents an industry-leading 0.5 ounces of gold fully diluted. The Company’s largest shareholder is Friedberg Mercantile Group, a prominent investment dealer and futures commission merchant.

(…)

Value Creation in a Rising Gold Market:


Gold less than $325 (Acquire)
- Acquiring non-producing resources is more cost effective than investing in exploration or production


Gold at $325 to $400 (Upgrade, Explore and Acquire)
(i) Value created by upgrading resources to reserves
(ii) Finding ounces adds more value than acquiring them:
-- Non-producing resources become expensive
-- Market rewards successful exploration


Gold above $400 (Produce/Sell, Upgrade and Explore)
– Producing assets command premium prices. Higher price provides reasonable margin for associated risk and reserve replacement costs.


Gold Less Than $325
In late 1999 Seabridge began acquiring non-producing gold resources in North America when no one else wanted them
Acquisition strategy was to find North American projects with:
(i) Low up-front costs (less than US$1.00/ounce);
(ii) Low holding costs (less than US$0.10/ounce per year);
(iii) Significant up-side exploration potential


Results to Date
8 projects purchased (100% ownership)
Nearly 14 million ounces of gold acquired from major gold companies (low technical risks) at less than US$1/ounce
Each project has significant exploration upside for value enhancement in a rising gold market
Holding costs average about US$0.08/ounce per year
Total spent by previous owners on 8 projects = US$270 million


With Gold at $325 to $400
Advance best projects towards production
Joint Venture higher risk projects
Acquire early stage exploration plays
Conduct exploration on selected targets
Continue to search for accretive acquisitions


With Gold at $325 to $400 - Advance Best Projects Towards Production
Program initiated to convert resources to reserves starting with Courageous Lake and Red Mountain
Hatch (a leading independent engineering firm) undertaking detailed pre-feasibility study to determine mining method, metallurgical process, capital and operating costs for Courageous Lake
SRK undertaking pre-feasibility study on Red Mountain
Grassy Mountain next


With Gold at $325 to $400 - Joint Venture Higher Risk Projects
First joint venture signed with Noranda to explore Kerr-Sulphside project, and if warranted, to take it to final feasibility
Internal review in progress to differentiate joint venture prospects from properties to be explored or developed by Seabridge


With Gold at $325 to $400 - Conduct Exploration on Select Targets
Existing resource projects all have significant exploration upside
Seabridge prioritizing exploration programs for 2003


With Gold at $325 to $400 - Acquire Early Stage Exploration Plays
From 1997-2001 90% of staked ground in Nevada was dropped
75% owned Pacific Intermountain Gold (“PIGCO”) subsidiary formed with leading U.S. prospector who has assembled significant exploration data base on U.S. gold projects
PIGCO “ahead of the curve” in staking early stage exploration plays in Nevada (+50,000 acres already acquired)
PIGCO will farm out projects to capable joint venture partners and may fund selected projects itself

With Gold above $400
Advance best projects into production with experienced partners
Continue exploration on selected projects
Sell lower “IRR” and smaller projects
Consider other jurisdictions



Seabridge Gold: Courageous Lake Gold-Sulphur Review Yields Encouraging Results

10:29 EDT Thursday, May 22, 2003

TORONTO, ONTARIO--Seabridge Gold announced today that a gold to sulphur data review on its 100% owned Courageous Lake gold deposit, located in the Northwest Territories, demonstrates favourable gold to sulphur ratios which are better than some presently operating refractory gold projects. The review, prepared by Hatch, supports Seabridge`s decision to proceed with the collection and testing of a 600 kilogram metallurgical sample as the next phase of the project`s Scoping Study.


Seabridge commissioned a Scoping Study from Hatch in late 2002. As a first step in the program, Hatch engaged Roscoe Postle Associates ("RPA" ) to examine both underground and open-pit mining options and recommend a preferred mining method. After review of available project data, RPA concluded that a large-scale open-pit operation would provide the best potential to recover the known resource. From the RPA cost sensitivity study, Hatch concluded that one of the critical parameters to be evaluated next was the determination of the gold to sulphur ratio that can be achieved in a sulphide concentration process. This ratio is a significant factor in determining the treatment costs and economics of the Courageous Lake project.

In its gold to sulphur ratio review, Hatch and RPA analyzed gold-arsenic-iron-sulphur data developed from previous work performed by Battle Mountain Gold Inc. and Placer Dome Inc. Key findings by Hatch are as follows:


1. Much of the data is consistent with a gold to sulphur ratio of more than 5 to 1. From the cost sensitivity study prepared by RPA, Hatch determined that a ratio of 2 to 1 or better would be required to achieve favourable processing costs.

2. Within the resource, there appear to be relatively minor variances in the gold to sulphur ratio. This consistency suggests that that a predictable mill feed grade and operating cost may be achievable.

3. Most of the gold appears to be associated with arsenopyrite mineralization and not with pyrite. This distribution could support removing the pyrite at an early stage, reducing overall processing costs.


Based on these results, Hatch recommends that Seabridge proceed with collecting existing drill core samples from the project for further metallurgical testing including mineralogical studies and flotation tests to be conducted at SGS-Lakefield Research Limited. In compliance with National Instrument 43-101, RPA has designed the protocols to be implemented in the collecting and handling of the samples to satisfy quality assurance and quality control.

Seabridge President and CEO Rudi Fronk said that the Company is proceeding step by step to reduce the risk and enhance the potential economics of the Courageous Lake deposit. "This sulphur study addresses one of the most important economic parameters for Courageous Lake and arrives at conclusions favourable to the project. We are now examining the possibility of a field program for later this summer to coincide with the metallurgical sample collection."

Seabridge has been designed to provide its shareholders maximum leverage to the price of gold. The Company has acquired a 100% interest in 13.8 million unhedged ounces of gold resources in North America, of which 8.0 million ounces are measured and indicated. (see http://www.seabridgegold.net/gold--resources.htm and press releases dated July 18, 2002, April 17, 2002, April 15, 2002, June 14, 2001; November 7, 2000; October 10, 2000 and April 27, 2000). The Company continues to seek expansion of its gold resource base by acquisition of new projects and exploration programs largely funded by partners.

ON BEHALF OF THE BOARD
Rudi Fronk, President & C.E.O.
© CCNMatthews


Seabridge Gold Options Stonewall Project to Placer Dome
TORONTO, ONTARIO, Mar 10, 2003 (CCNMatthews via COMTEX) –


Seabridge Gold announced today that its 75% owned subsidiary, Pacific Intermountain Gold Company ("PIGCO" ), has granted Placer Dome U.S., Inc. (a wholly-owned subsidiary of Placer Dome Inc.) an option to acquire a 100% interest in the 1,500 acre Stonewall project located in Nye County, Nevada. The property is one of more than 30 gold prospects staked by PIGCO during 2002 in the Tonopah Trend.

The 73 claim Stonewall project covers the northern flank of the Stonewall mountains, 15 miles southeast of Goldfield, Nevada. During the early 1900s, the Stonewall district witnessed significant precious metals production from high-grade veins which remain untested by modern exploration. The current exploration focus at Stonewall is on a series of generally parallel quartz veins occupying concentric ring fractures of a resurgent Tertiary caldera. These veins range from 1 to more than 60 feet in thickness with strike lengths of up to 8,000 feet. Textural evidence suggests these veins could represent the upper levels of an epithermal bonanza deposit.

The agreement provides Placer a three-year period to explore the project with option payments totaling US$300,000. Within the option period, Placer must either purchase the project or return it to PIGCO. The purchase price is 10,000 ounces of gold or its cash equivalent at the time of exercise plus a sliding scale net smelter royalty based on the gold price which ranges from 2.0% with the gold price less than US$300 per ounce to 9.0% with the gold price above $900 per ounce. The option agreement is subject to a due diligence period which terminates on June 30, 2003.

Seabridge Gold President and CEO Rudi Fronk said the form of the agreement with Placer is typical of the structure Seabridge is seeking from other major industry partners. "With junior companies, we are entering into traditional JV agreements whereby our partner can acquire a working interest in the property by making option payments in cash and/or shares and funding exploration work on the property. With companies that are proven producers, our aim is to generate gold flow from our exploration projects. We have now concluded a transaction of each type and more are expected in the coming months."
Seabridge has been designed to provide its shareholders maximum leverage to the price of gold. The Company has acquired a 100% interest in 13.8 million unhedged ounces of gold resources in North America, of which 8.0 million ounces are measured and indicated. (see http://www.seabridgegold.net/gold_resources.htm and press releases dated July 18, 2002, April 17, 2002, April 15, 2002, June 14, 2001; November 7, 2000; October 10, 2000 and April 27, 2000). The Company continues to seek expansion of its gold resource base by acquisition of new projects and exploration programs largely funded by partners.


ON BEHALF OF THE BOARD
"Rudi Fronk,"
President & C.E.O.

[ThaiGuru]

Seabrigde bietet ein zig mal besseres Chancen/Risiko Verhältnis, als zum Beispiel Silverado Mining.

Gruss

ThaiGuru

[precious]

@ #1 von konradi

oller Sautreiber !

[Saccard]

Preis ist leider zu hoch, Avocet gibt`s annähernd genauso billig (5 mio oz für 45 mio USD), dafür aber mit 170 bis 180,000 oz Produktion.

Prod.-Kosten USD 200, fallen auf USD 150 (Seabridge behauptet sie könnten für USD 400 produzieren).

In der Vergangenheit konnte man mit Seabridge ja gute Gewinne fahren, ich habe meine allerdings Anfang des Jahres abgestoßen, weil auch nur Luftschlösser verkauft werden (obwohl einige Projekte anscheinend doch was werden könnten). Naja, immer noch besser als Vista Gold (totaler Müll wg. Verwässerung).

Gruß
S.

[Culogrande1]

Und bei Schwefel und Arsen mit Gold kommt der Herr der Fliegen mit ins Spiel....also Avocet anschauen.

Culo

[konradi]

Ich habe gerade den Autor meiner "anonymen Quelle" entdeckt:
Es ist Andreas Hoose vom http://www.antizyklischer-aktienclub.de

siehe http://www.antizyklischer-aktienclub.de/newsletter/AAC-NL_11…
dort Seite 9 unter "Heimlich, still und leise ..."


@ dottore:

nette Anspielung, - der aufgespießte Schweinskopf thront aber auch über den anderen Rosia Montana ...

Du liest wohl die Beiträge im "stockhouse/bullboards" – Forum ?

für die Neugierigen:

http://www.stockhouse.ca/bullboards/forum.asp?symbol=SEA&tab…


Gruß Konradi

[konradi]

noch etwas:

http://www.gold-eagle.com/editorials_03/zihlmann050703.html

aber ich sag´s lieber gleich: der Report sieht sehr verdächtig aus ...

Aber die Sau soll ja quieken ...

[precious]

gold-eagle.com ist immer verdächtig !

[konradi]

.

News:

http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=Glo…

http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=Glo…

.

[konradi]

.

Seabridge Gold Receives $1.2 Million from Warrant Exercise

Monday July 21, 5:00 pm ET

TORONTO, ONTARIO--Seabridge Gold announced today it has received $1,182.750 from the exercise of 622,500 warrants at C$1.90 each which expired July 18, 2003. This exercise brings the total number of issued and outstanding common shares to 27,183,685.

These warrants were issued in July 2002 pursuant to a private placement of 3.2 million units at C$1.70 per unit. Each unit consisted of one common share and 1/2 of a common share purchase warrant exercisable for one year at $1.90. Of the 1,600,000 million in warrants issued, a total of 1,510,000 were exercised.

Seabridge has been designed to provide its shareholders maximum leverage to the price of gold. The Company has acquired a 100% interest in 15.6 million unhedged ounces of gold resources in North America, of which 8.7 million ounces are measured and indicated. (see http://www.seabridgegold.net/gold_resources.htm and press releases dated June 11, 2003, July 18, 2002, April 17, 2002, April 15, 2002, June 14, 2001; November 7, 2000; October 10, 2000 and April 27, 2000). The Company continues to seek expansion of its gold resource base by acquisition of new projects and exploration programs largely funded by partners.

ON BEHALF OF THE BOARD
"Rudi Fronk,"
President & C.E.O.

[valueinvestor]

Ich habe gerade mal Calls auf Gold angeschaut.
Mit einer Laufzeit bis 2007 kostet ein Call auf Gold Basis 400 / Bezugsverhältnis 1:10 2,57 Euro

Wenn ich die Seabridgezahlen richtig im Kopf habe, hat eine Aktie mittlerweile den Gegenwert von 0,625 Unzen (ohne die letzte kapitalerhöhung), nachdem Courageous Lake bessere Explorationsergebnisse brachte. Demnach hätte eine Seabridge einen Optionswert von 16 Euro.
Dabei ist das Papier ohne Verfallstermin. Der "Zeitwertverfall" von 0,04C$ pro Jahr sollte ebenfalls zu verschmerzen sein.
Ab einem Goldpreis von 423$ könnte Seabridge ein ten bagger sein (23$ * 0,625 Unzen = 14,4$), obiger Optionsschein liegt mit 20% im Minus.

[valueinvestor]

http://www.antizyklik.de/board.YaBB.DC1008/cgibin/YaBB.pl?bo…

Und noch ein thread, wo es um die Aktie geht.

Von Andi Hoose gibt es hier auf der Seite auch einige sehr lesenswerte Kommentare.

[konradi]

.

merci, valueinvestor

SEA hat in denletzten Tagen kräftig zugelegt:



Infos:

http://www.smallcapcenter.com/snapshot_quote.asp?component=c…


.

[valueinvestor]

nichts für zarte Gemüter, aber die klicken hier ja eh nicht...

[valueinvestor]

der chart sieht ganz spannend aus...

[konradi]

.





Toronto, Canada...

Highlights from the quarter ended June 30, 2003 were as follows:


• Gold resources increase by 32% to 7.5 million ounces at Courageous Lake project
• Metallurgical sample taken at Courageous Lake project
• Exploration program commences at Courageous Lake project
• Hog Ranch project optioned to Romarco Minerals
• $2.3 million raised in private placement equity financing

For the full quarterly report with financial statements please visit:

http://www.seabridgegold.net/images2/Kit-2003-Q2.pdf

Results of Operations

During the three months ended June 30, 2003, the Company incurred a loss of $231,000 compared to a loss of $267,000 in the same period of 2002. Management and consulting expenses were higher in the current period as there were new personnel based on the increased corporate and exploration activity. The interest expense on debentures has been reduced to $2,000 as all debentures have now been converted to common shares.

Mineral Interest Activities

During the six-month period of the current year, the Company incurred expenditures of $3,955,000 related to mineral properties compared to $703,000 in the same period of 2002. In the current year expenditures included the acquisition of 100% interest in the Grassy Mountain project with a payment of $899,000 and a further payment of $2,203,000 on the purchase of the Courageous Lake property triggered by the price of gold reaching US$360. The Company has determined that the Courageous Lake property should receive the majority of attention and funding for the foreseeable future due to its considerable potential.

Investment

In connection with the acquisition of the Grassy Mountain project, during the current period the Company acquired 1 million common shares of a U.S.A. based exploration company at US$0.50 per share.


Liquidity and Capital Resources

Working capital at June 30, 2003 was $3,303,000 compared to $3,820,000 at December 31, 2002. During the three-month period ended June 30, 2003 the Company’s operating activities used $245,000 compared to $26,000 in the same period of 2002. Cash expenditures on mineral properties totalled $3,604,000 compared to $227,000 in 2002. During the current period, cash amounting to $2,306,000 was received from a private placement of common shares while in the same period of 2002 financing from a convertible debenture of $859,000 and $933,000 from the exercise of options and warrants were received. Subsequent to the end of the current year period, $1,183,000 was received from the exercise of 622,500 common share warrants

Outlook

During the balance of 2003, the Company will continue to make exploration expenditures to advance its major project being Courageous Lake and to review its other projects for possible joint venture opportunities.
_______________________

Seabridge has been designed to provide its shareholders maximum leverage to the price of gold. The Company has acquired a 100% interest in 15.6 million unhedged ounces of gold resources in North America, of which 8.7 million ounces are measured and indicated. (see http://www.seabridgegold.net/gold_resources.htm and press releases dated June 11, 2003, July 18, 2002, April 17, 2002, April 15, 2002, June 14, 2001; November 7, 2000; October 10, 2000 and April 27, 2000). The Company continues to seek expansion of its gold resource base by acquisition of new projects and exploration programs largely funded by partners.

ON BEHALF OF THE BOARD

"Rudi Fronk,"
President & C.E.O.

For further information please contact:
Rudi P. Fronk, President and C.E.O.
Tel: [phone] • Fax: [phone]
Visit our website at www.seabridgegold.net
Email: [e-mail]

[konradi]

September 8, 2003

Courageous Lake Exploration Program Defines 12 New Gold Targets

Potential for more ‘FAT’ deposits along strike found in past drilling


Toronto (Canada)…Seabridge Gold reported today that its 2003 summer exploration program at its 100% owned Courageous Lake gold project has identified 12 large gold targets which have characteristics similar to the FAT deposit located on its property containing 7.5 million ounces of gold resources. Assays are now awaited from core drilled by previous operators but not assayed for the FAT-type target which is currently the focus of Seabridge’s exploration program.


To date, Seabridge has identified approximately 110,000 metres of core previously drilled on targets outside the FAT deposit. Of this, about 37,000 metres of core (from 50,000 metres of historically reported drilling) have been collected to date by Seabridge and verified to be from the 12 targets identified as potential FAT analogues. Less than 15% of this drill core has been assayed. Historical sampling focused on quartz-rich zones which were believed to be higher grade, ignoring the wider mineralized package characteristic of a FAT-type deposit. Approximately 8,000 representative samples will be taken and analyzed from the unassayed core over the next 4 months. The most promising targets identified in this program will be fully sampled in early 2004.

Historical assay results from these targets confirm the presence of a robust system. For example, the 800 metre long Walsh target returned a 19.3 metre intercept averaging 2.9 grams of gold per tonne. Seabridge geologists have examined the core for these targets and have noted similar controls to mineralization as the FAT deposit. Seabridge believes that a comprehensive program of logging, sampling and assaying could identify one or more FAT-type deposits. Furthermore, some of the past drilling is sufficiently close spaced to allow a preliminary resource calculation.

In the opinion of Seabridge, the historical core was drilled by reputable operators, collar locations, azimuths and dips have been clearly identified, drill logs are available and there was excellent recovery of core. Appropriate procedures were followed for marking the core and assayed samples, retaining the unassayed split of samples and storing the core. Seabridge therefore believes that new assay results from this core will be sufficiently reliable for use in gold resource calculations. In addition, Seabridge intends to twin selected holes as further confirmation of results based on historical work.

The Courageous Lake gold project is located 240 kilometres northeast of Yellowknife in the Northwest Territories and approximately 50 kilometres south of the Ekati diamond mine. The project consists of approximately 40,000 acres of claims and leases covering 53 kilometres of strike length along the Matthews Lake Greenstone Belt.

Archean greenstone belts are found throughout the world and are recognized as prolific sources of gold, having produced over 20% of the world’s total. The Courageous Lake project covers most of the Mathews Lake Greenstone Belt, a well-preserved example of greenstone terrain in the Slave Province hosting two former high-grade gold producers, the Salmita and Tundra mines.

The Matthews Lake Greenstone Belt also hosts Seabridge’s FAT deposit, a 2 km long, 7.5 million ounce disseminated resource (see http://www.seabridgegold.net/gold_resources.htm and news releases dated June 11, 2003 and July 18, 2002). This deposit is found in a mixed package of volcanic and sedimentary rocks near the top of a felsic eruptive cycle associated with high-level synvolcanic intrusions. It is characterized by hydrothermal alteration dominated by quartz-sericite-carbonate and subordinate garnet-chlorite with arsenopyrite-pyrrhotite-pyrite in quartz veins and in wall rock where it can form nearly massive replacement of the rock.

This summer, Seabridge has evaluated the entire greenstone belt for FAT analogues and has identified 12 such targets over a strike length of about 14 kilometres to the south of the FAT deposit and along the same structure (see attached map and table for target locations and details).

Seabridge President and CEO Rudi Fronk noted that previous operators confined their exploration to high-grade vein targets. “For nearly 20 years, more than a dozen operators spent tens of millions of dollars looking for vein deposits with cut-off grades of 20 grams or better. At least 33 targets were drill-tested during this period. It was not until 1997 that Placer Dome recognized the potential for a large, open-pit project which resulted in the definition of the FAT deposit. Only now, with Seabridge’s consolidation of the camp, has it been possible to bring together all the historical data and evaluate prospects systematically for FAT analogues.”

National Instrument 43-101 Disclosure
Exploration activities at the Courageous Lake gold project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101.





.

[konradi]

.

Octagon Capital, ein kanadischer Investor covert Seabridge mit einem Kursziel von 8 CAN $


http://www.seabridgegold.net/images2/OctagonSep17-03.pdf

.

[Saccard]

Courageous Lake Projekt?

Hieß das nicht früher noch vor dem Kauf durch Seabridge Tundra Projekt?

Gruß
S.

[konradi]

@ Saccard


Genau ! ...

... so ein Detail noch im Kopf zu haben weist den "Kenner" aus, Saccard. Respekt !

Seabridge Gold hat die Tundra Mine von Newmont Canada gekauft. Übrigens buddelt gleich nebenan auch die Rhonda Corporation ( das mal als Wink mit dem Zaunpfahl ) http://www.rhondacorp.com/s/Home.asp

Gruß Konradi








Courageous Lake Exploration Program Defines 12 New Gold Targets
Potential for more ‘FAT’ deposits along strike found in past drilling

Toronto (Canada)…Seabridge Gold reported today that its 2003 summer exploration program at its 100% owned Courageous Lake gold project has identified 12 large gold targets which have characteristics similar to the FAT deposit located on its property containing 7.5 million ounces of gold resources. Assays are now awaited from core drilled by previous operators but not assayed for the FAT-type target which is currently the focus of Seabridge’s exploration program

To date, Seabridge has identified approximately 110,000 metres of core previously drilled on targets outside the FAT deposit. Of this, about 37,000 metres of core (from 50,000 metres of historically reported drilling) have been collected to date by Seabridge and verified to be from the 12 targets identified as potential FAT analogues. Less than 15% of this drill core has been assayed. Historical sampling focused on quartz-rich zones which were believed to be higher grade, ignoring the wider mineralized package characteristic of a FAT-type deposit. Approximately 8,000 representative samples will be taken and analyzed from the unassayed core over the next 4 months. The most promising targets identified in this program will be fully sampled in early 2004.

Historical assay results from these targets confirm the presence of a robust system. For example, the 800 metre long Walsh target returned a 19.3 metre intercept averaging 2.9 grams of gold per tonne. Seabridge geologists have examined the core for these targets and have noted similar controls to mineralization as the FAT deposit. Seabridge believes that a comprehensive program of logging, sampling and assaying could identify one or more FAT-type deposits. Furthermore, some of the past drilling is sufficiently close spaced to allow a preliminary resource calculation.

In the opinion of Seabridge, the historical core was drilled by reputable operators, collar locations, azimuths and dips have been clearly identified, drill logs are available and there was excellent recovery of core. Appropriate procedures were followed for marking the core and assayed samples, retaining the unassayed split of samples and storing the core. Seabridge therefore believes that new assay results from this core will be sufficiently reliable for use in gold resource calculations. In addition, Seabridge intends to twin selected holes as further confirmation of results based on historical work.

The Courageous Lake gold project is located 240 kilometres northeast of Yellowknife in the Northwest Territories and approximately 50 kilometres south of the Ekati diamond mine. The project consists of approximately 40,000 acres of claims and leases covering 53 kilometres of strike length along the Matthews Lake Greenstone Belt.

Archean greenstone belts are found throughout the world and are recognized as prolific sources of gold, having produced over 20% of the world’s total. The Courageous Lake project covers most of the Mathews Lake Greenstone Belt, a well-preserved example of greenstone terrain in the Slave Province hosting two former high-grade gold producers, the Salmita and Tundra mines.

The Matthews Lake Greenstone Belt also hosts Seabridge’s FAT deposit, a 2 km long, 7.5 million ounce disseminated resource (see http://www.seabridgegold.net/gold_resources.htm and news releases dated June 11, 2003 and July 18, 2002). This deposit is found in a mixed package of volcanic and sedimentary rocks near the top of a felsic eruptive cycle associated with high-level synvolcanic intrusions. It is characterized by hydrothermal alteration dominated by quartz-sericite-carbonate and subordinate garnet-chlorite with arsenopyrite-pyrrhotite-pyrite in quartz veins and in wall rock where it can form nearly massive replacement of the rock.

This summer, Seabridge has evaluated the entire greenstone belt for FAT analogues and has identified 12 such targets over a strike length of about 14 kilometres to the south of the FAT deposit and along the same structure (see attached map and table for target locations and details).

Seabridge President and CEO Rudi Fronk noted that previous operators confined their exploration to high-grade vein targets. “For nearly 20 years, more than a dozen operators spent tens of millions of dollars looking for vein deposits with cut-off grades of 20 grams or better. At least 33 targets were drill-tested during this period. It was not until 1997 that Placer Dome recognized the potential for a large, open-pit project which resulted in the definition of the FAT deposit. Only now, with Seabridge’s consolidation of the camp, has it been possible to bring together all the historical data and evaluate prospects systematically for FAT analogues.”

National Instrument 43-101 Disclosure Exploration activities at the Courageous Lake gold project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101.


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Courageous Lake Project Background

The Courageous Lake project is a gold project covering 36,973 acres located in the Northwest Territories, Canada. Seabridge has a 100% interest in the project, subject to a 2% NSR. Although the property contains a substantial gold resource, it is not currently economic at currently prevailing gold prices.


Location and Access

The project is located approximately 240 kilometers northeast of Yellowknife in the Northwest Territories. The property lies in a historic mining district and is within 10 kilometers of 2 past producing gold mines. Year round access is available by air, either by fixed wing aircraft to the airstrip at the former Salmita mine 6 kilometers to the south or via float-equipped aircraft to several adjacent lakes. During mid-winter, access is available via a winter road which branches from the main winter road to the Lupin Mine. There are about 10 kilometers of gravel roads located on the property which served as access routes to and from the former mining shaft.

The property is relatively flat, with the maximum change in elevation only about 30 meters. Vegetation is tundra with low scrub brush in places. The altitude of the project is about 450 meters, and the average temperatures range from about -21 to 70 degrees F. Average precipitation is about 11 inches per year.


How Acquired

In May 2002, the Company entered into a purchase agreement with Newmont Canada Limited and Total Resources Canada Limited on the Courageous Lake project comprised of 17 mining leases covering 18,178 acres. Under the purchase agreement, Seabridge paid Newmont/Total US$2.5 million in cash and granted them a 2.0% NSR. A further US$1.5 million was paid to Newmont/Total in April 2003 as a result of the spot price of gold closing above US$360 per ounce for 10 consecutive days which occurred in February. A further US$1.5 million is payable to Newmont/Total 60 days after the spot price of gold closes at or above US$400 per ounce or a production decision is made at Courageous Lake, whichever event is earlier. The purchase by Seabridge closed on July 31, 2002. Immediately following this acquisition, Seabridge staked contiguous open ground totaling and additional 18,795 acres in 16 mining claims.


Regional and Property Geology

The Courageous-Matthews Lakes belt is characterized by a series of north to northwest trending Archean metavolcanic and metasedimentary rocks that form a portion of the Slave Structural Province. These rocks are within the Yellowknife Supergroup and are locally referred to as the Courageous Lake Greenstone Belt (“CLGB”). The CLGB is approximately 60 kilometers long, with a maximum east-west width of 5.5 kilometers. The rocks within the CLGB have been metamorphosed to greenschist facies, and have undergone at least two major deformational events. The Mackey Lake and Courageous Lake stocks, which are large granitic intrusions, bound the belt on the east and west.

The CLGB forms a steeply dipping homoclinal sequence of metavolcanic and metasediments that are younger towards the east. Two distinct volcanic cycles have been recognized within the CLGB. The basal cycle is characterized by mafic to intermediate flow and pyroclastic rocks, which for the most part have been assimilated by the Courageous Lake Batholith. The second cycle contains mafic to felsic flow and pyroclastic rocks that are spatially related with felsic intrustives. The second cycle of volcanism is conformably overlain by a thick sequence of metasedimentary rocks that are locally known as the Yellowknife Group Sediments (“YGS”). The dominant post YGS lithology consists of large granodiorite to diorite plutons that bound the Courageous Lake deposit along its east and west flanks. Post dating the granite and greenstone rocks in the area are late Protozoic gabbroic and diabase dikes which trend north to northeast or east-west.


North of Matthews Lake, the Courageous Lake property consists of a sequence of northerly trending, steeply dipping metasedimentary and metavolcanic rocks, with tops to the east. All of the currently recognized gold occurrences on the property are located within or near the top of the second cycle of volcanism of the CLGB. The thickest part of this second volcanic cycle is located north of Matthews Lake where drag folding has duplicated the section. Generally, the units that make up the second volcanic cycle are about 2 kilometers thick and have been subdivided into 8 distinct mappable units.

These units are a mafic volcanic unit, which forms the basal member of the second volcanic cycle; A lower felsic volcanic unit which is overlying the mafic volcanic rock units; A carbonate unit, which is a distinctive alteration of a felsic volcaniclastic unit; Gully sedimentary rocks of interbedded argillite and greywacke beds; Upper felsic volcanic unit, which overlies the gully sedimentary rocks and is comprised of rhyolite flows, felsic pyroclastic fragmental rocks and volcaniclastic debris flows; A mineral zone, which is a distinct subdivision of the upper felsic volcanic unit; and transitional sedimentary units, which are composed of clastic felsic ash and lapilli beds.


Both the main Tundra and carbonate zones within the Courageous Lake property strike north-south and have a near vertical dip component. The zones are characterized by moderate to intense shearing, sericite-carbonate alteration, and quartz veining. These mineralized zones are very persistent along strike and down dip. The continuity of gold mineralization has been demonstrated to be at least 800 meters along strike based upon previous drilling results. Within the area that has been tested by drilling, the continuity of gold mineralization is at least 100 meters in a down dip direction. The limits of gold mineralization have not been fully tested and the deposit remains open along strike and down dip.


Previous Exploration History

Gold was first discovered in the Courageous Lake area in 1936. Beginning in 1976, Noranda Exploration Ltd. initiated exploration in the Courageous Lake Volcanic Belt. Exploration activities included geological reconnaissance, airborne, EM and magnetic surveys, ground follow-up and claim staking. In 1982, Noranda initiated a limited drill program to evaluate rock units north of Matthews Lake. Detailed geophysics, geological mapping, and extensive diamond drilling followed this initial program leading to the discovery of two gold deposits, the Tundra Deposit (Main Zone) or Fat Deposit, and the Carbonate Zone.


From 1982 to 1987, Noranda continued core drilling the property from the surface and also constructed a winter road to the property. They also began an environmental impact study. In late 1987, Noranda made the decision to sink a vertical shaft to provide access for conducting an underground definition drilling program and to be able to test gold grade continuity and tenor by drifting and raising on ore grade shoots. This also allowed Noranda to extract a bulk sample for metallurgical testing. In conjunction with the development of the shaft, surface core drilling, magnetic, VLF, and HLM surveys were also completed.


In late 1987, Noranda completed an in-house preliminary resource estimate. Using a 3.43 g/t Au cutoff grade, a resource of 29.6 million tonnes at a grade of 6.20 g/t was estimated. Based upon this work, a two-year underground exploration program was initiated. The program was designed to develop an underground mining reserve, access material for bulk metallurgical sampling and provide engineering information for mine design and development planning. The shaft was timbered and completed to a depth of 472.6 meters in April, 1989. Drifting on the target zone occurred between May to November 1989 and totaled 1,948.2 meters. Both lateral drifts and sub-vertical raises were developed and provided access to bulk sample locations and diamond drilling stations along the strike of the target zones. Approximately 200 vertical meters and 750 to 8000 of strike length of the mineralized zone were tested by underground drill holes. Additional horizontally fanned holes were drilled on 25-meter centers to aid in the interpretation of the target zone. Underground drilling was completed in November 1989 and totaled 27,459.25 meters in 125 diamond drill holes.


Little additional work was performed on the property until Placer Dome optioned the property in 1998. Placer performed regional lithogeochemical sampling/prospecting and detailed mapping and channel sampling on the Courageous Lake property. Placer also conducted a core drilling/sampling program in order to verify Noranda’s previous work and to provide infill sample data. Detailed mapping and structural analysis was done by Placer concurrent with the drilling to help design a drill plan as well as conducting a ground magnetic survey to define the zone of mineralization. Placer utilized two diamond drill rigs to provide detailed information on the continuity of the Tundra Main Zone and to confirm the Carbonate Zone. The total diamond drilling completed by Placer was 15,988 meters in 76 drill holes. Placer dropped its option on the property in 1999.


[/b]Mineral Resources[/b]

Over the period of exploration at Courageous Lake, several resource estimates have been prepared. The most detailed were conducted by Noranda in 1990 at the conclusion of its underground exploration program and by Placer Dome in 1999 at the conclusion of its exploration program.


The 1990 Noranda estimate was divided into two segments: the Underground Block and a Global estimate of the entire property. The Underground Block contained a resource estimate of 3.37 million tonnes at a gold grade of 6.8 g/t at a 3.4 g/t cut-off grade. The global estimate was for 18.59 million tonnes at a gold grade of 6.10 g/t, also utilizing a 3.4 g/t cut-off grade. Noranda classified all the tonnage as measured and indicated, which means none was classified as a mineable reserve.


In 1998, at the conclusion of its drilling program, Placer Dome constructed a three-dimensional block model of the Tundra Main Zone and Carbonate Zone in order to estimate total gold resources. Placer estimated the total resource on the property at 69.2 million tonnes with a grade of 2.67 g/t with a 1.5 g/t cut-off grade.

In 2002, the Company engaged Resource Modeling Inc. (“RMI”) of Tucson, Arizona to review the resource model prepared in 1999 by Placer Dome and to independently estimate gold resources based on a geostatistical review of the available data. Using the historical drill hole data and Placer Dome’s geologic interpretation and estimation parameters, RMI was able to verify Placer Dome’s published, unclassified gold resource of 5.9 million ounces at a gold cutoff grade of 1.5 gram per tonne. Using its own estimation parameters and a cut-off grade of 1.5 grams of gold per tonne, RMI independently calculated a measured resource of 1.4 million tonnes grading 3.73 grams of gold per tonne (168,000 ounces of gold) and an indicated resource of 27.4 million tonnes grading 2.56 (2,253,000 ounces) for a total measured and indicated gold resource of 2.4 million ounces. In the inferred category, the project contains an additional 38.6 million tonnes of material grading 2.64 grams of gold per tonne (3,280,000 ounces) for a total RMI gold resource of approximately 250,000 ounces less than Placer Dome’s published estimate.

None of the identified gold resource at Courageous Lake can be classified as a Mineral Reserve and none is economic at current commodity prices. Additional engineering and exploration work will be required in order to upgrade the resources into reserve categories, and a full feasibility study will be required in order to determine if any of the mineral resource can be profitably mined.


Environmental/Regulatory Information

As part of its due diligence review on the property, Seabridge engaged EBA Engineering Consultants Ltd. of Yellowknife, Northwest Territories, to prepare an Environmental Review of the Courageous Lake property. EBA determined the governmental environmental review process in the NWT would likely take 24 to 36 months from the time a Project Description Report had been filed with the authorities before the review process began. An additional 12 to 16 months would likely be required to complete the regulatory review process, all at a cost of $2-8 million, plus another $0.5-1 million for costs during the regulatory phase.


Additionally, EBA visited and evaluated the site for any current or potential environmental damage related to historical exploration and development work conducted at Courageous Lake by previous operators. EBA found no significant environmental concerns, but did note several areas of potential concerns, including the existing land disturbances, acid rock drainage from waste rock and drill casings.


Current and Planned Work

As part of its Due Diligence review on the property, Seabridge engaged Resource Modeling Inc. (“RMI”) of Tucson, Arizona to conduct a technical review of the project. This included a review of Placer Dome’s 1999 resource model and to prepare its own gold resource estimate utilizing the historical exploration results, including the 420 diamond drill holes totaling 107,416 metres that Noranda and Placer Dome had completed. RMI independently estimated a measured resource of 1.4 million tonnes grading 3.73 g/t gold and an indicated resource of 27.4 million tonnes grading 2.56 g/t gold. None of the resources can be classified at reserves, and none are economic at currently prevailing gold prices.


On November 5, 2002, Seabridge announced they had engaged Hatch, an independent mining engineering consulting firm, to prepare a scoping study on the Courageous Lake project. Hatch will examine both underground and open pit mining options and recommend a preferred solution including mine/mill capacity optimization. A metallurgical bulk sample will also be tested to determine the most appropriate extraction technology. The final report will provide pre-feasibility estimates of capital and operating costs and Hatch’s recommendation, if warranted, for the steps required to complete a feasibility study on the project. The Hatch study is expected to be completed by the end of 2003 at a cost of approximately $500,000.


The Company estimates its annual holding costs of the Courageous Lake Project to be $40,000 paid to the Department of Indian Affairs and Northern Development, Northwest Territories.


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Falls sich auch noch jemand für die wechselvolle Geschichte dieser Mine interessieren sollte - man weiß ja nie ob hier im board noch ein paar Hobbyhistoriker mitlesen - hier ein historischer Abriss:


History of the Courageous Lake Area

Ryan Silke


For many hundreds of years, the flat and marshy lands of the tundra were inhabited only by the native people and the local wildlife. Bears, caribou, wolves, muskrats, and the native traveler interacted in this large setting where life was simple. There was a kind of natural beauty to the area on which no other man had traveled, and the harsh mystic of its landscape captivated those who would visit the barren tundra flats.

Nearing the turn of the 19th century, more and more southern men journeyed into the northernmost regions of Canada’s north. Most of them were trappers working for trading companies, trying to make a living where they felt they belonged - the unexplored. Many of these pioneers’ stories have gone untold. It was not until gold in Canada’s north was discovered that more and more people became interested in the mystical plains and rocky shores of the Northwest Territories.

From 1930-1945, both Yellowknife and the Great Bear Lake areas became developed with mines, towns, and people looking for more land to explore. Setting off in every direction possible, some ended up on the shores of Matthews Lake, south of Courageous Lake, upon which grounds they staked the first gold claims of the area. Such men included Jack Matthews, Mike Mitto, Frank Salerno, and Tom Payne. A number of companies were formed in the first year of development (1945), of most importance were Salmita Northwest Mines Ltd, and Bulldog Yellowknife Gold Mines Ltd.

Jack Matthews staked the first claims here in May 1945, with Mike Mitto and Frank Salerno staking their claims in June. Within a year, other prospectors entered the region, and several claims, including the Mint group of Thomas Payne, were staked and recorded. Payne incorporated his so-named company, Payne Yellowknife Gold Mines Limited, and hired William Peters to conduct exploration. Some property samples were told to be ten times richer than the other discoveries in the area, but exploration failed to indicate an economically substantial deposit.

By 1951, enough exploration work on the Salmita and Bulldog properties warranted underground development. Supplies were hauled in by cat train, or chartered over by float plane. In the winter, ice fields were cleared to permit landing of larger aircraft such as DC3`s. By 1953 both Salmita and Bulldog had challenged the climate and the environment and established two northern mines. Both had headframes, one of which sat over top of a 145-foot shaft, and installed some heavy equipment. Camp huts were set-up, a mill building was built at Salmita, and everyone was ready for some big development.

But no further work was done at either property in the following couple years. Labor for construction of mills, bunkhouses, and shaft development, was at a low ebb, and the incurring uranium prospecting rush made cause for a loss of interest in Barrenland gold.

Three years later in 1956, the Bulldog company was revitalized as Taurcanis Mines Limited. A subsequent drive to production occurred into 1960, with massive amounts of money being pooled into the company’s treasury by interested companies. It wasn’t long before Taurcanis was on the road to production and in 1963, when all was ready for the final year of construction, the company’s name was changed to Tundra Gold Mines. In April 1964, Tundra became the first gold producer in the Courageous Lake region of the NWT - a major triumph to those involved in its creation.

Tundra started off with limited ore reserves and it was unfortunate that no further mineable ore was uncovered. The mine shut-down in 1968 without making much of a profit. What it did do, however, was set the stage for future mining operations that would be created in the arctic tundra.

Salmita Mine remained closed during this time period. In wasn’t until 1975 that Giant Yellowknife Mines Limited drove an underground adit under the old shaft and uncovered some interesting gold values. A subsequent drive to production was heading by Giant, and by 1981, it appeared as though a mill would be in operation. Using the old Tundra mill, gold was produced between 1983 and 1987.

The following year, Noranda Mines of Ontario began to sink a massive shaft on the “Fat” deposit north of Salmita. A 1,500-foot shaft was driven to explore a massive million-ton deposit, and some hefty mine facilities were put in place. The deposit did not materialize into a producing mine however, and in 1989 the site was closed and all buildings and equipment removed, except for the old camp. The same year began the start of a clean-up effort at Salmita mine when all buildings met the same fate.

Only the Tundra mine and mill site have remained to this day. In the early 1990`s, the NWT was hit with a diamond staking rush. The former Noranda camp was reconditioned by the Warnar family for use by prospectors and mining engineers looking to reside and set up camp in the area. Treeline Lodge was later established as a tourism outpost for the Courageous Lake area, offering ecological and history tours, including the remains of the Tundra Gold mine.

Mining continues to be an important aspect to the future of this area. Diamond mines have been popping up in the vicinity of Courageous Lake, and all ground is favorable prospecting ground. The history of mining is equally as important, and it is for this reason that Treeline Lodge has been created.


Tundra Mine

The Tundra Mine, formerly known as Bulldog or Taurcanis, is located at the south end of Matthews Lake, on the shores of small Bulldog Lake, (distance) from Treeline Lodge. The mine is connected to the lodge by way of road to airstrip, road from airstrip to Salmita, and road to Salmita to Noranda camp. Distance between sites is approximately 5 kilometers. The road is in good condition, having been maintained by Treeline Lodge. The Tundra produced gold between 1964 and 1968, and the site was used during Salmita operations in the 1980`s. The site remains today, although listed for a future government cleanup, and the target of vandalism.


A Detailed History of Tundra up to 1964

Jack Matthews was actually the second to stake a mineral claim in this region. The northern stretches of the NWT beyond the treeline saw very little prospecting activity before WWII, although it is known that in 1939, the Territories Exploration Limited company, under the direction of a W.L. Brown, noted several occurrences at Courageous Lake. Along with gold, some tungsten was discovered. Some drilling was reported as having been completed, but the claims lapsed.

In May 1945, Jack Matthews staked the Jeja claims over a possible showing of gold. He was enticed not by the drilling results of the pre-war prospectors, but more directly interested in work done by the Geological Survey of Canada in 1944. A new map was published in 1945, showing the general geology of the entire area north of Courageous Lake. Matthews quickly made a copy of it, chartered a plane, located favorable ground, and, incidentally, found gold.

By the end of 1945, other ground was quickly being staked and companies being formed. Matthews knew that in order to develop his claims in any way, he would need funding. John McDonough was asked for financial assistance, and a company was formed in 1948 - Bulldog Yellowknife Gold Mines Limited. McDonough was also involved in other northern ventures through his involvement in Trans-American Mining Corporation.

It is interesting to see a list of the many different companies formed during the post-war years in Canada. It is even more interesting to see the amount formed with the name Yellowknife tagged onto it. Akaitcho Yellowknife, Doris Yellowknife, Beaulieu Yellowknife, Admiral Yellowknife....a few of many companies formed with Yellowknife holdings and interests. During a gold boom, it was common to “jump on the bandwagon” so-to-speak. Yellowknife became good national publicity for two-bit outfits hoping to make it big. Some companies had no relationship to the Yellowknife mining district in any way. It is funny that most of the companies, despite their scheming and market manipulations, never found much gold.

Bulldog began exploration at Matthews Lake during a difficult time in the NWT mining industry. Gregory Smith, president of the Bulldog company in the 1950 annual report, explains:

"The hoped-for improvements in the market for gold mining securities referred to in the Report of the Directors of this company dated May 10th 1950 did not materialize. In fact it deteriorated. This was largely the result of two dominating factors:- first, the government has allowed no increase in the base price for gold in spite of the increase in the cost of labor and all commodities and, second, , the fact that the investing public has lost interest temporarily in gold development stocks and has turned it’s attention to oil and base metal speculations." (1)

This situation was a deterrence upon all mining prospects during the post-war years. The Federal government created a program called the Emergency Gold Mining Assistance Act, which would help fund operating mines though difficult economical recessions. This program was only available to companies that had achieved gold production; therefore, for a small company like Bulldog without any significant development, the only funds available were those through stock trading.

As a result of the above conditions, it was reported that work confined at Bulldog between 1948 and 1950 was exploratory drilling and some surface trenching. Some 20,000 feet of drilling was performed making possible a fairly accurate indication of the ore deposits upon which this whole endeavor was founded.

The general geology of the area provided for three important deposits: the Matthews (discovery) vein, the South zone, and the No.2 vein. The most prominent feature was the Matthews vein, a deposit termed in parts as the "High Grade zone" and the "Sulphide zone". The "High Grade zone" was told to have a value of $2,885,000 to a depth of 400 feet in 1950 on the market, not including operational costs that would of course be factored out of the profit equation. The other two zones remained virtually unexplored at this time.

Bulldog’s status on the stock market went from "unlisted" to "listed" during the summer of 1950 upon confirmation of a rich gold deposit. Two weeks in a row, full-page advertisements for the Bulldog company appeared in the local Yellowknife newspaper News of the North, and the potential of the Matthews lake region as the next gold producing region were raved about around the mining scene of the north.

"....Rumours still persist that one of the cores taken from the property was too rich to assay - that it contained a very high percentage of visible gold." (2)

Indeed there was some rich gold at Bulldog. Company directors felt that the deposit was being wasted as an undeveloped property, and that the mine should be opened immediately to take advantage of the government funding. It was upon these grounds that in late 1951, underground development at Bulldog was approved. Jock McNiven, consulting mine engineer and then mine manager at Negus Mine, was hired to contract out the shaft work under the direction of Trans-American Mining Corporation.
A large amount of equipment was acquired, supplies forwarded to the company warehouse, and a 70 ton convoy of sleds pulled by Cat Train made their way from Yellowknife, east on Great Slave Lake to Thompson-Landing, and north via cat trail to Matthews Lake - the first haul of it’s type in the North.


The Bulldog Operation

This operation predated the development of the Tundra Mine by about five years. It was the intent of the Bulldog company to sink a shaft to over 500 feet on the Matthews vein, construct mine facilities, and to truck ore to the nearby Salmita mine, which was equipping a mill. Having laid out these plans, construction started in the spring of 1952.

The camp buildings consisted of three Igloo-type steel frame tents with rubber-sponge insulation for their arctic use. These were similar to the Quonset design huts commonly used at many of these northern operations at the time. Also located at the camp site, which was located on the north end of Bulldog Lake, were tent frames used for storage. All camp buildings were fitted with Coleman oil stoves and fairly comfortable accommodation for work crews. Excellent food was served, with plentiful helpings (none of which ever went to waste). Good food was important for morale.

A 65’ timber headframe was erected over the shaft site, designed for production through a 3-compartment shaft. The shaft, which was collared to a depth of 38’, had dimensions of 18x8’. Most production shafts utilized three or more compartments. Such a shaft design would include a compartment for a mancage, one for a production skip, and one for pipes, electrical wire, and a manway ladder. An overwind hoist system was used to counter-balance the mancage and skip. The hoist used at Bulldog during this period was a Canadian Ingersoll-Rand 36x24” PE1 double-drum hoist, powered by a 75 H.P. electric motor, housed in a small 24x24’ structure immediately in front of the headframe.

Such a small mine operated on self-generated electricity. The power-plant consisted of a 246 H.P. National diesel engine powering a 550-volt Brush generator. This unit supplied the operation with all of its power needs, although a smaller 110-volt Fairbanks-Morse light plant was also available if needed.

Compressed air for use in power drills and the blacksmith shop was pumped from a 3 cylinder Broomwade 800 c.f.m. air compressor, powered by a 100 H.P. electric motor. All powerhouse units were purchased new and were therefore in excellent condition. The large National diesel engine was only told to have been run for a total of 53 hours. The powerhouse building included room for a miner’s dry. Other buildings on-site included a 20x40’ Igloo-type garage, a powder house, and some shops - all housed in huts.
Operations seemed to be going well during the spring of 1952 while the shaft was being collared. In July, Gregory Smith made a site visit in order to report on the company’s progress for inclusion in the 1951 annual report. It was indicated by numerous press releases that the start of shaft sinking would be delayed because of difficulties of arranging freight transport to the property. Much equipment did not make it in till the following spring. At this time, it was no longer possible to acquire a shaft sinking crew since experienced crews were busy working on uranium and base metal projects that appeared more attractive. Jock McNiven returned abruptly to Yellowknife to settle the closing of his Negus Mine.

In 1955, after being abandoned probably without caretaker for 2 years, Richard E. Parkes, mining engineer, put together a property report for George Holbrooke of Mid-North Engineering Services Limited, perhaps under contract from Bulldog. After outlining stages of work involved in reopening the mine, he concludes his recommendation:

"After the above stages of development has been entered into, it will be necessary to plan the construction of a suitable milling plant of at least 200 to 250 ton capacity. This plant including all mechanical equipment will cost an additional $250,000.

It is therefore recommended that a total sum of between $7 and $800,000 be arranged for to bring this property into a successful producing gold mine and I do not hesitate to say that all indications of surface and diamond drilling operations in the past justifies this expenditure.” (3)


The Taurcanis Operation

Mr. Parkes report was taken seriously, as within a year negotiations were underway to reform Bulldog into a vibrant new outfit. Arthur White stepped into the scene and changed the companies name to Taurcanis Mines Limited.

“He changed the name to the Latin equivalent ‘Taurcanis’ without losing any of the glamour; but the share equity did change when Taurcanis shares were exchanged for Bulldog shares on the basis of one for four.”– Norman Byrne (4)

By then, the original developers of the Bulldog project, Jack Matthews and John McDonough, had passed away but “their spirit lived on”. Early in 1957, work crews were sent to Matthews Lake to clean-up camp, renovate buildings, and begin preparation for sinking the shaft. Some equipment, and even buildings, were moved from the now abandoned Salmita mine to Taurcanis. The Salmita inventory in 1957 was owned by Lanky Muyre’s exploration outfit, the items having been acquired by him after a court case against Salmita won in his favor. The original Bulldog camp was moved from the north end of Bulldog Lake to the mine-site.

The subsequent drive to production was perhaps owed to the intervention of the Byrne organization in the affairs of the Taurcanis company. The Byrne family, the most prominent members being J.J. Byrne, and his two sons Norm and Jerry, were at work building themselves mines all over the NWT at this point. The Discovery gold mine, located halfway between Yellowknife and the treeline, was, in 1957, 7 years into production and going strong. The Rayrock uranium mine, also near Yellowknife, was just going into production as the first private uranium enterprise in Canada. A second uranium mine owned by the Byrnes - Northland Consolidated - was under consideration as a satellite mine for the Rayrock operation. Norman Byrne had established himself as a well-respected NWT mining engineer with great credentials. Jerry Byrne was an experienced mine manager, having operated Outpost Island in the early 1940`s, and being Discovery’s managing director. J.J. Byrne, elder father of the two, was a major shareholder and director in all three companies. Officials for Taurcanis knew that “getting in bed” with the Byrne’s would be good for business.

Financing for the Taurcanis venture was provided by the following parties at this time: New Dickenson Mines Limited (25%), Consolidated Discovery Mines Limited (35%), Trans-American Mining Corporation (10%), and Brewis & White Limited (30%).

Starting in April 1957, the camp was rebuilt, some new equipment installed, and the start of shaft sinking begun. The following year, lateral development was underway on the first level at 325’ depth. The Western Miner, in November 1958, reported:

“The 325-foot level South drift of Taurcanis Mines Limited recently extended 55 feet through ore with average width of five feet and grade of 2.31 ounce per ton. There is now a developed length of 685 feet at the 325-foot horizon. Underground diamond drilling has intersected the Matthews vein at the 475-foot and 625-foot horizons. The deepest hole from surface was to 400 feet. The first hole cut 4.4 feet assaying 0.76 ounces per ton at 475 feet and the next two holes cut 5 feet of 1.64 ounces per ton and 4.8 feet of 0.98 ounces 100 feet apart at the 625-foot horizon.” (5)

Other work was underway at the mine aside from underground development. Repair on the old Salmita airstrip was underway on an esker about 5 kilometers east of the shaft. A rough strip 2,300’ long was cleared using an International-Harvester TD-14 tractor in 1957-58. In 1959-60, the strip was lengthened to 4,000’ using a 4-yard carryall and a 2-12 Caterpillar grader, and could then accommodate Bristol freighters fully loaded with 3 ton payloads. The strip was constructed at a cost of $35,000.

New winter road routes were scouted in 1960 to the mine from Yellowknife. This route, ploughed by Ice road engineer John Denison, took up at Discovery mine, heading east to Gordon Lake, then north up into the Barrenlands. In the first year of operation, Denison was contracted to ship 275 tons of material to Taurcanis at rates of $60 per ton from Yellowknife. The ice road was opened every year until the mine closed.

In 1960, some new players became involved in the Taurcanis operation. Funding was now provided by Consolidated Discovery, Dickenson Mines Limited, Rayrock Mines Limited, and Radiore Uranium Mines Limited. The inclusion of Rayrock became an important one. As mentioned, Rayrock was a Byrne family enterprise that operated the uranium mine outside of Yellowknife. In 1959, Rayrock closed it’s mine after a depletion of reserves. Under an agreement dated August 8th 1960, Taurcanis purchased all the milling plant and equipment located at Rayrock Mine. In exchange, a share offering was given to the Rayrock company.

By now, the Byrne family was well established within the Taurcanis operation. Jerry Byrne was managing director, and Norman Byrne was, of course, consulting engineer. In the annual reports, each provided confidence in the viability of opening the mine for production. The inclusion of Rayrock in the financing and construction of the mine was also an important asset. The Rayrock milling and power plant was in perfect shape, and the fact that it milled uranium would make no difference to its effectiveness in producing gold.

During the winters of 1961-1962-63, major freight was delivered to Taurcanis. Oil tanks, ball mills, diesel engines, even whole buildings made their way up past the treeline from Yellowknife and points elsewhere. By now, a substantial mine was being erected on the shores of Bulldog Lake. Old shacks and archaic Quonset huts were demolished, and new striking steel structures under construction. An all new plant and camp layout was under design.

Mine development continued rapidly. By the end of 1961, the shaft was completed to 1,250 feet and lateral development on 6 levels was being performed at a rate of several hundred feet a month. Large new camp facilities were under final construction, including a 2-storey bunkhouse and a 2-storey recreation center. A crew of 100 men was maintained under the supervision of mine manager Jack Boulding, and engineer Norman Byrne. The following chart gives the amount of lateral development performed on each mine level up to December 31st 1962:


Taurcanis Mines Limited Underground Development – at December 31st 1962

1st Level(175’) 2nd Level(325’) 3rd Level(475’) 4th Level(625’) 5th Level(775’) 6th Level(925’) 7th Level(1,075’) 8th Level(1,225’) All Raising Shaft
881’ 5,042’ 733’ 4,641’ 0 732’ 0 3,567’ 2,980’ 1,250’


The annual general meeting of Taurcanis Mines held on February 28th 1963 ended with a resolution for a change in company structure, including a new name. The new company was called Tundra Gold Mines Limited - better reflecting the romantic nature of Canada’s to-be first Barrenland gold producer. At fiscal year end September 30th 1963, ore reserves amounted to 40,476 tons at a grade of 0.58 ounces per ton. Production began in March 1964, and the first gold bar was poured April 12th 1964.


The Operation of Tundra Mine 1964-1968

The start of milling operations on March 15th 1964, when the filling of the plant circuit with low-grade ore started, was an achievement beyond words. It was certainly the result of a great deal of effort and tenacity that began when Jack Matthews first found gold at Matthews Lake in 1945. The exciting gold pour on April 12th 1964, and the publicity driven opening ceremony in July, was followed by three years of struggle to keep the mine open and to keep gold flowing through the mill circuitry.


Considering the Gamble

In comparison to other mines in the north, Tundra opened with limited ore reserves indicating a short, but hopefully profitable life. Most of the NWT mines in fact started off like this. Mines depended on the discovery of additional gold ores through exploration and development programs while gold was being produced. The gold poured payed for the exploration expenses, and the exploration in turn was expected to pay for production. Discovery Mine, in 1950, started off with only two mine levels and limited ore but, with perhaps more luck than geological insight, became the richest and most encouraging mine in the north in the following years. Con, and Negus mines started out in the same fashion at Yellowknife in the late 1930`s, and perhaps it was only Giant that had good reason to start production.

In many ways, the construction and operation of a mine are gambles. Of course all mines depend on profitability, and it was this that Tundra had reason for production. Of most importance was the encouragement and determination of those experienced mining men involved in its creation. Despite low gold reserves, all involved were confident of new ore deposits. But for an operation that cost hundreds of thousands of dollars to build, would the mine pay off?

Mining on the Barrenlands

In all appearance, Tundra was a bleak outpost in the middle of nowhere. In the summer, its lifeline was by aircraft, and by a 250 kilometer ice road in the winter. The mine was built and designed for life in the far north.

Mine facilities that were built compactly were better on heating costs. Buildings at Tundra were of metal-clad type, of Armco and Butler make, with vapor barriers and insulation on all walls and ceilings. Mine manager Jack Boulding once commented on the effects of not having proper insulation by saying “It is amazing to watch the amount of snow that can be driven into a room through a small nail hole.” (6)

The lack of trees and hill protection resulted in full force winds that could blow in any direction at any time of the year. Often, metal panels would fly off buildings - especially the headframe. Winter snowstorms could make a man lost walking from the Bunkhouse to the mill for a morning shift. For this reason, rope guides were strung between buildings. An enclosed walkway was built between the Bunkhouse and the Personnel Services building (PSB), and between the Dry/Office and the shafthouse.

Although the plant at Tundra was compact and designed specifically for the rigid climate, heating costs were high. A cheap source of fuel was in use - Bunker C oil. The problems associated with this oil are explained by A.T. Jordan:

“To keep the oil in a condition that comes anywhere near resembling fluidity it is necessary to heat the oil in Yellowknife to a temperature of 125 degrees F. In a normal trip of 15 hours in an insulated tank truck, the oil will arrive at Tundra at about 60 degrees F. In addition to insulation, the tankers have heating coils in case of a prolonged trip. At Tundra the oil is heated again before it is delivered to the diesel engine and the steam generators.” (7)

Permafrost was also a problem faced by management. All mines of the north faced permafrost, but none of them to the extent of 900 feet like Tundra. The permafrost mostly affected mine temperature and water conditions between seasons. Hot exhaust was pumped deep underground to control temperature, and the use of aluminum piping helped to radiant the heat along the mine drifts and crosscuts.

The Tundra Mine and Camp

The types of facilities at the mine were normal of any mining operation. Huddled around the headframe were a combination dry/office/and shop complex (The Plant Services Building), the milling plant, refinery, assay lab, carpenter shop, powerhouses, hoist room, warehouses, oil tanks, bunkhouse, the PSB, manager’s residence, and other buildings. Construction of these facilities continued through the years 1958-1964 at a rapid pace.

The 2-storey Bunkhouse had accommodation for 62 single men, plus a small hospital, laundromat, and some married staff residences. The PSB contained the kitchen and mess hall, recreation hall and library, gymnasium, pool hall, and staff quarters. Such a building was important for providing pastime recreation and services to employees.
Mine managers resided in a small house adjacent the PSB, and in 1964-65 trailer units were brought in on winter road to provide additional family housing. Despite it’s bleak appeal, Tundra was home to some 100 people during production years, including families. While confined to safe and security during the harsh winter months, for a short period during the summer, outdoor recreation was cherished. These activities were limited to boating and fishing primarily, and hunting was not encouraged. An 18-barrel golf course (perhaps the only in the world) was located on the airstrip using a No. 7 iron, with the objective being to either sink the ball into, or ding one of the old drums used to mark the edge of the airstrip. Often, creativity was the driving force behind recreational activities at these isolated mining operations.

Servicing the Mine

Transportation, and communication, with the outside world was important for Tundra. Today the world has become connected through the wide array of communications, but this was not the fact in the early years of the north. Tundra mine was in fact an outpost, isolated from the commons of Yellowknife, while Yellowknife itself was isolated from the commons of centralized North America.

The development and operation of mines in the north would not have been possible without the use of airplanes. Without an abundance of all-season roads, flight and winter routes were the only way to access the NWT’s expanding mining properties. The first highway into the NWT, reaching all the way to Yellowknife, was completed in 1960. The next best thing was the all-weather road from Grimshaw, Alberta, to Hay River that was cleared during the post-war years. These developments proved important to reducing the expense of running mining operations North of 60.

Winter freight haul to Salmita Mine, 1951

No all-weather road was likely to be cleared beyond the treeline, although once it was considered. Rather, the developing Tundra Mine was forced into air charters and winter road clearing. These were expensive methods. Trucking into the Barrenlands from Yellowknife was reduced from over $100 per ton in 1962, to $65 per ton going into production. Freight trucked directly from Edmonton cost $110 per ton. The use of Bristol freighter aircraft reduced freight rates considerably. Bristol rates were at $90 per ton in 1964, whereas single-engine Otter aircraft would cost over $300 per ton.

A 4,000’ airstrip and a 300 kilometer winter road were to be commended for creating a profitable transportation corridor between Tundra and the outside. The winter road was a pioneering effort by the one-and-only John Denison. His 1962 ice road was the first to penetrate the treeline (the year before he cleared a road to Great Bear Lake). This road was usually open between January and April of each year, and during this time up to 2,500 tons of material (most of it fuel oil) was transported to the mine. For example, during the 1965 season, the first trailer truck convoy arrived at the property on January 17th and the final convoy on April 12th. During that time 133 loads arrived with a payload of 2,550 tons. Included in this tonnage was 366,000 gallons of fuel oil.

Mining Operations

Normally there are two methods to mining a deposit - by open pit methods, and by underground tunnel development. Underground mining is far more complex, and also the preferred method of development since so many of the worlds mine’s extend to great depths. Despite a person’s vision of endless tunnels likely impossible to navigate and easy to become lost in, the underground network of shafts and drifts are intricately laid out to provide the most effective way of accessing and mining a deposit.

At Tundra mine, development headings were usually blasted to provide for a tunnel of 6x7` dimensions - enough to accommodate 24" rail track gauge, piping, and ventilation ducts. Each heading had a ditch excavated along its length to support drainage of water downhill to the shaft station. Water was collected in a sump at the bottom of the shaft and pumped to surface. Tundra was a very wet mine, especially since they pumped hot water down to the levels and sprinkled it onto the rock walls to reduce ice formations on the walls and ceilings of the drifts, and crosscuts.

To some, underground development and driving is an art. However, drilling, blasting, mucking, and scaling is hard and dangerous work. At Tundra, holes were drilled in strategic positions on the face wall of a heading, and explosives injected into the holes. The drills used for drilling were heavy. Detachable bits were used, and the drills operated on compressed air supplied by the powerhouse. Water was added to the mixture of rock and grinding metal to help with the drilling process and to reduce dust. Bits were fixed with carbides made of manganese or tungsten to ensure a better drill.

At the end of the shift, the blasting cord was secured, and later on the foreman remotely detonated the explosives, effectively cutting a good 5 or more feet out of the rock in the intended direction. Mucking was then performed to remove the waste rock from the underground. In some cases, this rock was high valued ore, therefore would be transported to the mill for gold recovery. Mucking machines picked up the ore, and threw it into ore carts, which would deliver ore to the ore pass, dropping the rock into the shaft pocket that would feed the skip.

By character, drifts run parallel the ore-body, while cross-cuts cut across or towards the deposit. A third type of underground tunnel was the raise, driven for many purposes. Raises were used to connect level with man-ways to provide emergency exists and ventilation sources. Ore-passes were a type of raise, although you wouldn’t want to put a man-way through one.

Deposits were mined overtop of the levels in areas called “stopes”. At the start of production, 17 stopes had been made ready for mining. Stopes were developed in benches, each held up by pillars. At Tundra, levels were spaced 150’ apart; therefore, stopes could have heights of 150’ if required.

Four battery locomotives were in use at Tundra, each of which pushed a train of ore carts to the ore pass. During production years at Tundra, an average 4,000 tons of ore were hoisted each month.

Power Plant

A source of power generation is always important for a mining operation. The most economical system of accessing such power is always chosen. Most of the isolated mines used self-generated power through the used of gas, oil, or diesel engines. In some cases if hydropower is available locally, the choice to connect to such a service can be made. However, as was the case with Tundra, sometimes mine-life and economic conditions will not permit such an expense.

Mine power also includes engines to generate compressed air for underground drills, and a heating plant. The large units were sufficient to supply the power and heat needs of the entire plant and camp on most days of the year. A standby plant was maintained, consisting of several old power units located in the original 1952 powerhouse, retrofitted during operations with some newer units.

A light plant was installed in the Personnel Services Building for additional back-up emergency power. It was a D-3,400 Caterpillar 15 K.W. gen-set. A small Napanee Automatic steam boiler was also installed in the building.

A system of heat recovery was used to provide economical and efficient heating operations. Exhaust gases from the Cooper-Bessemer and the Foster -Wheeler units were used to produce additional steam.

Oil storage was provided by several large oil tanks. Six 20’ diameter tanks held diesel fuel, and two 40’ diameter tanks held bunker-C oil for the boiler plant. Capacity for 350,000 gallons of bunker oil were provided by these two large tanks, and 225,000 gallons was available for diesel fuel in the smaller tanks.

Hoisting Plant

In 1950, the Matthews Lake deposit was found to extend to a depth below 400’. At this depth, it would be necessary to access the deposit via underground workings. In order to sink and use a shaft for production purposes, a unique kind of hoisting equipment must be installed. Much like an elevator shaft, the underground vertical tunnel is fitted with a cage to transport men between levels, and a cable is strung up to raise and lower it. The headframe structure – a common symbol for a mine – is erected over top the shaft to relay the hoist cable, which is controlled by a hoist drum on the surface, down into the shaft. The sheave-wheel is the relay wheel that angles the cable straight down into the shaft.

Hoist drum units come in two types – double-drum and single drum. With a shaft compartment that will accommodate two hoisting systems (ie. Man-cage and ore skip) a double-drum hoist is used. For smaller operations were only a sinking bucket is in use, a single-drum (cheaper) unit is used. Double-drum units operate as a counter-balance system with over-wind, under-wind features. This means that one rope is released from the underside of one drum, while the second rope is retracted into the drum on the topside, while the hoist motor operates the two drums in the same direction. Conditions are reversed when the hoist operator turns the engine the other direction. The weight of the mancage and skip on either end of the hoist cable counter each other.

The depth of the shaft determines the hoist-drum size, headframe height, and sheave wheel diameter. Normally, the hoist drum and the sheave wheel diameter match each other, with the sheave wheel never smaller than the hoist drum. Hoists are measured diameter by face usually in inch units. For a shaft depth of 1,250 feet, a timber headframe of 65’ height and a hoisting unit of size 48x36” was found appropriate for use. This electric hoist, purchased from Rayrock Mines Limited in 1960, was a Canadian Ingersoll-Rand make – a popular brand of hoist units that are still commonly used today.

Communication between the underground and the surface was important. Deckman, cage-tenders, and the hoist operators had to memorize special shaft signals indicated between stations only by a bell or buzzer system similar to Morse code.

Milling Plant

It is through the milling and recovery plant where the hard work and determination in creating a gold mine is found. Milling circuits are all unique in their own way. Aside from the different brands or sizes of equipment that are used, mills are designed based on two big things – the type of minerals to be recovered, and the characteristics of the ore being milled. As far as gold is concerned, its recovery can be very simple, or utterly complicated. It depends really on geology and the certain deposit. A simple example is the difference between a lode and placer deposit. Gold can be found in heavy sands and soils of placer mining districts (ie. Yukon), or incased in bedrock like the mines of Yellowknife. Placer gold can be panned with water, but lode gold requires operations like Tundra Mine.

Lode gold has its simplicities and complications as well. Free milling gold can be recovered after suitable crushing, grinding, chemical treatment, and gravity concentration. In the case of Giant Mine ores (or some former Con and Negus ores), gold as associated with other minerals that do not permit conventional milling methods. All three mines mentioned at one point had roasters installed to treat arsenical ores.

Luckily for the developers of Tundra Mine, the Matthews Lake ore deposit was found to be 99% free-milling. Frederick B. Brien, chief metallurgist at Tundra Mine in 1964, explained the pre-design research performed:

“Metallurgical testing of the Tundra ore for flow-sheet design purposes was extensive. Early in the development of the ore body it was recognized that the manner of association of the arsenopyrite and gold could have an important bearing on the gold recovery process. A refractory ore would be costly to treat in this area and, of course, an efficient recovery was essential. Thus, the first samples used for mill testing were collected from surface trenches and submitted to Lakefield Research Limited. Results indicated that excellent recoveries could be achieved using a combination of amalgamation and cyanidation.”

“As mine development progressed, representative underground samples were tested in order to ensure that the nature of the arsenopyrite-gold association was not changing with depth……The result of these testing programs confirmed that 96% recovery of gold would be achieved at a grind of 82%, minus 200-mesh. Approximately 40 percent of the gold could be recovered by amalgamation of a jig concentrate, the remainder by cyanidation. Only one percent of the gold was combined as a refractory solid solution with arsenopyrite.” (8)

Preliminary design of the milling plant was carried forth upon this great news. In 1960, the Rayrock milling plant was purchased. This mill had been used to process uranium ores for three years, but this fact made it no less of a gold recovery plant. During the following winters, heavy equipment was transported up the winter road while designing for the mill was completed. Construction carried forth during 1963 at Tundra, and by March 1964 all was ready for first mill test. On March 15th, the first low-grade ore was being processed. The first gold bar was poured April 12th 1964.

The milling plant, by appearance, looks to be an accomplishment of ingenuity. Pipes and conveyor ways span in all directions, and large impressive machines tumbling around in earth-shaking fashion. Gold recovery is simple chemistry with gravity as one simple principle. However, it requires a system of laid out machinery to accomplish the science. The Tundra milling plant was designed for a production of 150 tons per day.

The first stage of milling involves the crushing of rock to an appropriate size. When ore was first hoisted from the underground at Tundra, it was a size less than 2’ in diameter. This ore was received in a 110-ton “coarse ore-bin” located behind the headframe, and passed onto the first conveyor way into the crusher house. Tundra crushing was done two-stage. The first stage was through an 18x32” Telsmith jaw crusher, using clamping jaw plates to reduce the ore to 2” or less. Ore too large for further treatment was screened into the second stage of crushing – a 3’ Symons cone crusher. All undersize material of –3/4” size was passed onto conveyor again into the main mill building.
Crusher product was fed into the 5x8’ Denver ball mill. These units are the central portion of the mill, from which it’s name is derived. The basic idea of a mill is to grind the fine ore in the tubular casing while spinning it around at high speeds and adding water and chemicals. There are three types of mills – ball mill, rod mill, and autogenous mills. Ball mills use small steel balls to act as a grinding medium to grind the ore, rod mills use steel rods, and autogenous mills use the ore itself as the grinding medium. Tundra mine used ball mills to achieve an effective grind.

A wet slurry emerged from the end of the mill, was passed through a Denver duplex jig to recover a rough gold concentrate, with tailings classified using a Kreb cyclone classification unit. Oversize from the cyclone was sent back for regrinding in a 5x8’ Marcy ball mill., and the same process occurred until an underflow is produce from the cyclone. Jig products were sent for amalgamation (explained later).

Slurry from the grinding and classification stage was sent to cyanidation. The first stage of this was dewatering in a 32x10’ steel tank Thickener. Chemicals are added to help dissolve the gold in solution. Gold bearing underflow was then sent into three agitator tanks in which a 40 hour stage of agitation continues to separate gold from the material. This was followed by waste separation using large 8x16’ Oliver filters. These filters rotated at a slow speed, with a tailing product dropping off of the shell into the tailings pump.

A “pregnant” solution was obtained from the filters which, along with Thickener overflow, was sent to clarification. Zinc was added to precipitate the gold in the solution before entering the precipitation presses. The 10-plate Whitco press was located in the refinery building along with the bullion furnace. The presses pressed all remaining water solutions from the gold material.

In the amalgamation process, ball mill jig concentrates were conditioned with mercury in an amalgamation barrel and the amalgam product was sent through the refining process. Two refining stages were employed, one to refine gold bars produced from the amalgamation process, and the second to refine bars from the cyanidation process. Mercury was “retorted” from the amalgam sponge, and a brick poured in a Rockwell furnace. The precipitates from the presses were collected and mixed into the refinery furnace with flux for a gold pour as well.

A final gold bar would be about 4x6x2” in dimensions with a variant weight. Both gold, silver, and some minor metals were recovered

[konradi]

oh Gott, was für ein Monsterposting ist das geworden ... - Sorry !

[Stormy]

Nicht so schlimm, fass doch mal in einem Satz auf deutsch zusammen! Daaaaaaaaaaanke!

[Stormy]

Aber die Sau die Du durchs Dorf getrieben hast, war schon eine fette Sau. Respekt!

[konradi]

.

und jetzt fängt sie auch langsam an zu quieken ...

September 23, 2003

Seabridge Completes Independent Engineering Study
on Red Mountain Gold Project
Report`s Preliminary Projections - 8 Year Mine Life with
Average Cash Operating Cost at US$213Per Ounce

die ganze Meldung hier:

http://www.seabridgegold.net/pr_76.htm

.

[konradi]

.

übrigens würde ich mal gern eine Reise zu den Northwest Territories unternehmen.

Wer Nordnorwegen kennengelernt hat weiß schon warum ...



Infos:

http://www.nwttravel.nt.ca/

.

[valueinvestor]

Respekt, deine Sau entwickelt ziemliche Ähnlichkeit mit Rennschwein Rudi Rüssel...

Trotz der jüngsten Anstiege ist seabridge eindeutig unterbewertet im Vergleich zu den entsprechenden Optionsscheinen. Schaut euch mal an, was ein Goldcall Basis 400 Laufzeit 07 an (Seabridge ist ein Call auf 0,62 Unzen Basis 400 (bis 425), Laufzeit unbegrenzt.

[valueinvestor]

Ich glaube es nicht, in Berlin gehen 800 Stück zu 2,10 euro über den Tisch!!

[voracon]

das sind jetzt meine

also handeln in D ist voll mist,

alle minen die an amex, nyse usw notiert sind kann man prima handeln

aber die nur in kanada,australien, sa notiert sind
ist echt krank

ich habe nur stocknet und diraba, warum gibts da keine vernünftigen angebote für diese börsenplätze ?

wenn man bei der diraba in canada order kostet es über 70 !! euro !!

[valueinvestor]

Ich habe in einer mail an sea heute morgen zwei Fragen gestellt. schon hat der CEO geantwortet - vorbildlich.
Frage 1 zielte auf das Gerücht eines Amex Listings und Frage 2, wie sich sea den Exit aus den Projekten vorstellt.

Hi *** - here are answers to your 2 questions.

(1) I realize that it is difficult for non-canadians to purchase shares in SEA. The difficulty seems to vary, depending on the brokerage firm you use. However, we are planning a listing on the AMEX, and hope to have this completed shortly. We are now in the process of clearing a 20-F registration statement with the SEC and once cleared, we expect to trade on the AMEX. With any luck, this process should be completed over the next couple of months.

(2) We have no plans to mine ourselves as we do not want to expose our shareholders to the technical, financial and environmental risks associated with placing a project into production. What we will do with our properties vary from project to project. What we hope to accomplish is to turn our properties into "gold flow" either from joint ventures with established producers or in retained royalties. We will sell some outright for shares and/or cash. The gold price we do these transactions at vary from project to project. We have already JV`d our Kerr-Sulphurets project with Noranda and our Hog Ranch project with Romarco.

Thanks for your interest.

Rudi Fronk
President and CEO

[konradi]

.

erfreulich: trotz POG-Rücksetzers kein Einbruch bei SEA
Thanx an value für das Interesse und Gruß an die übrigen 3 Mitstreiter

Konradi

hier noch´n Link:

http://thegoldhunter.com/front/companies/show?sym=SEA.V

.

[valueinvestor]

und an einem Tag, wo das Gold schon mal an den 400 schnuppert, darf sea natürlich nicht fehlen - heute schlappe 16% im Plus!!!

gruß an alle Investierten und proooosssssttt!!!

[valueinvestor]

New Assays Suggest Potential for Additional Gold Deposits at Seabridge’s Courageous Lake Project

Toronto (Canada)…Seabridge Gold reported today initial assay results from sampling of drill core from targets identified in its 2003 summer exploration program at its 100% owned Courageous Lake gold project located in the Northwest Territories. The program was designed to find bulk mineable targets similar to the multi-million ounce FAT deposit also located on Seabridge’s property.

During the 2003 summer exploration program, Seabridge was successful at identifying 12 gold targets on the property with FAT-type characteristics that had been drill tested by past operators. The drill core, an estimated 110,000 meters, was retained on the property but never evaluated for bulk mineable potential. From September to mid December of this year, a new work program is evaluating and prioritizing these 12 targets by sampling and assaying available core. The best targets will then be explored in a new drill program scheduled for next summer.

To date, the company has completed re-logging about 10,000 meters of drill core from target zones mostly to the south of the FAT deposit. A further 10,000 metres is scheduled for completion by mid December. This work is designed to bring all the drilling on the property to a level of understanding consistent with the FAT deposit, including common nomenclatures and controls on gold concentrations.

Samples from the core are being sawed with half of the core retained on site. To date, a total of 2,588 samples have been submitted for analysis representing about 4,020 meters of core. Approximately 10% of the samples are being submitted as blind duplicates for quality control. Rejects from previous samples of this core are being selected and reanalyzed to verify past assays. In addition, selected samples are being submitted to another independent laboratory for verification.

A total of approximately 60 drill holes will be assayed from the 12 target zones. To date, results have been received from 12 drill holes, primarily from the Salmita area. The best results include:

Drill Hole ID
From
(meters)
To
(meters)
Interval
(meters)
Gold Grade
(g/t)
Target Zone

85-27
114.26
132.60
18.34
3.95
Salmita North

75-12
165.52
200.39
34.86
6.15
Salmita T-Zone

75-19
129.47
138.47
9.00
3.19
Salmita T-Zone


Further results are pending from the Salmita area as well as the other targets.

Seabridge President and CEO Rudi Fronk noted that none of the historic holes now being assayed were drilled to test FAT-type potential. “Typically, where there may be 250 metres or more of FAT-style stratigraphy in our target zones, these historic holes have tested less than 50 metres of stratigraphy to depths generally less than 100 metres depths because they were targeting what were thought to be vein-like structures. We are sampling and assaying these holes outside the vein-like targets to help us select the best zones for further exploration. Only our own drill programs designed to test FAT-type mineralization will provide conclusive evidence of resource potential. Nonetheless, we are very encouraged by the initial results which are consistent with our FAT deposit.”

Seabridge’s Courageous Lake project covers 53 kilometres of the Matthews Lake Greenstone Belt which hosts the 2 kilometre long FAT deposit. The FAT deposit contains an estimated 3.18 million ounces in the measured and indicated categories (48.0 million tonnes grading 2.06 grams of gold per tonne) plus an additional estimated 4.33 million ounces in the inferred category (65.1 million tonnes grading 2.07 grams of gold per tonne). The Company has commissioned Hatch, an independent engineering consulting firm, to prepare a scoping study on the FAT deposit to be completed in the 1st quarter of 2004.

National Instrument 43-101 Disclosure
Exploration activities at the Courageous Lake gold project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101.

_______________________

Seabridge has been designed to provide its shareholders maximum leverage to the price of gold. The Company has acquired a 100% interest in eight North American gold projects which collectively contain an estimated 8.74 million ounces in the measured and indicated categories (250.1 million tonnes grading 1.09 grams of gold per tonne) plus an additional estimated 6.83 million ounces in the inferred category (201.0 million tonnes grading 1.06 grams of gold per tonne). (See http://www.seabridgegold.net/gold_resources.htm for a breakdown of these gold resources by project). The Company continues to seek expansion of its gold resource base by acquisition of new projects and exploration programs largely funded by partners.

[valueinvestor]

heute leckerer Ausbruch aus der Dreiecksformation nach oben mit +8% und dem höchsten Tagesumsatz seit über 12 monaten. News habe ich keine gefunden. Vielleicht sind sie auf der großen Roadshow an der Westküste mit dabei?

[valueinvestor]

Heute nochmal 10%, insgesamt schon verdoppelt. Schöner Tag heute, was ?

[Wasserzeichen]

Herzlichen Glückwunsch an alle Investierten! (hab es leider verpennt,bei 3,70 rum einzusteigen...wird aber nachgeholt,wenn vielleicht auch teurer.)

Was noch interessant wäre:
Hat jemand einen Vergleichschart Can/Dollar zu € parat?

Gruß Wz

[valueinvestor]

[Khampan]

@ Wasserzeichen



oder wenn du ein anderes Zeitfenster einstellen willst:
http://isht.comdirect.de/html/detail/main.html?sTab=chart&hi…


Für den Handel in Kanada empfehle ich allen den relativ neuen luxemburger Direktbroker http://www.internaxx.lu .
Online-Handel zu gemäßigten Gebühren (keine Teilausführungsgebühren) in Toronto und Vancouver, USA, GB,
Kontoführung in den verschiedenen Währungen möglich.

Gruß,
Khampan

[Wasserzeichen]

@Kamphan+Valueinvestor

Danke!

[valueinvestor]

Erstmals hat seabridge einen inneren Wert. mit den 0,5 unzen Gold von der Homepage gerechnet (die letzten Explorationsdaten vom Courageous Lake legen höhere Vorräte nahe), liegt der Innere Wert von Sea heute bei 1,1 US Dollar. Steigt Gold auf 410 (also um "lächerliche" 1,9%), liegt der innere Wert schon bei 5 US$. Das meine ich ist ein klasse Hebel.

Quartalszahlen:

Seabridge Gold Reports on 3rd Quarter Financial Results

Toronto (Canada)…Seabridge Gold Highlights from the quarter ended September 30, 2003 were as follows:

• Courageous Lake exploration program identifies 12 new gold targets
• Independent engineering study completed at Red Mountain project
• Quartz Mountain project optioned to Quincy Resources
• $1.0 million raised in flow-through financing

For the full quarterly report with financial statements please visit:
http://www.seabridgegold.net/images2/Kit-2003-Q3.pdf

Results of Operations
During the three months ended September 30, 2003, the Company incurred a loss of $245,000 or $0.01 per share compared to a loss of $670,000 or $0.03 per share in the same period of 2002. The large difference in the loss of the 2002 period was the $380,000 valuation of options granted to directors, employees and consultants. Management and consulting expenses were higher in the 2003 period as there were new personnel based on the increased corporate and exploration activity. Professional fees were high in the 2002 period related to the costs of the Company’s US registration. In the 2003 period there is no further debenture interest as they have been converted into common shares of the Company.

For the nine-month period ended September 30, 2003, the Company incurred a loss of $715,000 or $0.03 per share compared to a loss of $1,253,000 or $0.08 per share in the same period of 2002. The higher loss in the prior year was largely attributed to stock option grant compensation.

Mineral Interest Activities
For the three-month period ended September 30, 2003, the Company incurred expenditures of $1,136,000 on mineral interests compared to $4,605,000 in the same period of 2002. Approximately $4.0 million of the expenditure in the prior year was for the acquisition of the Courageous Lake property.

During the nine-month period of 2003, the Company incurred net expenditures of $5,131,000 related to mineral properties compared to $4,958,000 in the same period of 2002. In the current year expenditures included the acquisition of 100% interest in the Grassy Mountain project with a payment of $899,000 and a further payment of $2,203,000 on the purchase of the Courageous Lake property triggered by the price of gold reaching US$360. The Company is currently undertaking a significant exploration program on its Courageous Lake property where it is attempting to expand its mineral resources.

In August, the Hog Ranch and in October, the Quartz Mountain projects were optioned to third parties to undertake exploration expenditures. The Company will also receive shares of the optionees and be able to participate in any future commercial operations.

Investment
During the current period, as part of the acquisition of the Grassy Mountain property, the Company acquired one million common shares of a U.S. based private exploration company at US$0.50 per share which represented approximately 6.9% of the private company’s issued and outstanding shares. Subsequently, the private company was merged with Atlas Precious Metals Inc. (“APMI”). On the merger, the Company’s one million shares of the private company were converted into 1,200,000 common shares of APMI representing approximately 5.7% of APMI’s issued and outstanding shares.

Liquidity and Capital Resources
Working capital at September 30, 2003 was $3,113,000 compared to $3,820,000 at December 31, 2002. During the three-month period ended September 30, 2003 the Company’s operating activities used $286,000 compared to $213,000 in the same period of 2002. Cash expenditures on mineral properties totalled $1,181,000 compared to $4,162,000 in 2002. The Company also placed excess funds into bank-backed investments during the period amounting to $2,300,000 which have maturities greater than three months. During the current period, cash amounting to $1,183,000 was received from the exercise of 622,500 common share warrants while in the same period of 2002 financing from a private placement of common shares and some minor amounts for option and warrant exercises resulted in proceeds of $5,612,000. Subsequent to the end of the period, the Company completed a private placement of 240,000 flow-through common shares for proceeds of $1 million. The Company will use these funds to continue exploration on the Courageous Lake project. The investors will receive the Canadian exploration expense tax deductions for these expenditures.

For the nine-month period ended September 30, 2003 the Company’s operating activities used $734,000 compared to $415,000 in the same period of 2002. Cash expenditures on mineral properties totalled $5,151,000 compared to $5,315,000 in 2002. During the current period, cash amounting to $5,820,000 was received from the exercise of warrants and a private placement of common shares while in the same period of 2002 funds were received amounting to $7,356,000 from a private placement of common shares and a convertible debenture

Outlook
During the balance of 2003, the Company will continue to make exploration expenditures to advance its major project being Courageous Lake and to review its other projects for possible joint venture opportunities while at the same time ensuring that funding is available for its corporate requirements.

_______________________

Seabridge has been designed to provide its shareholders maximum leverage to the price of gold. The Company has acquired a 100% interest in eight North American gold projects which collectively contain an estimated 8.74 million ounces in the measured and indicated categories (250.1 million tonnes grading 1.09 grams of gold per tonne) plus an additional estimated 6.83 million ounces in the inferred category (201.0 million tonnes grading 1.06 grams of gold per tonne). (See http://www.seabridgegold.net/gold_resources.htm for a breakdown of these gold resources by project). The Company continues to seek expansion of its gold resource base by acquisition of new projects and exploration programs largely funded by partners.

ON BEHALF OF THE BOARD


"Rudi Fronk,"
President & C.E.O.

[valueinvestor]

Wieder +8% in Canada auf 5,40CAD$

Hier mal ein Vergleich mit einem echten Optionsschein

http://optionsscheine.onvista.de/figures.html?ID_OSI=8659804

Basis 425, Laufzeit 08
kostet für eine halbe Unze, dem Äquivalent einer Sea-Aktie
sage und schreibe 25,35 Euro!
sea behauptet gar, einen Basispreis von 400 zu haben, die entsprechenden 5 Scheine würden zusammen 29,35 Euro kosten.
Noch anzumerken: Sea hat keine Laufzeitbegrenzung und die Quartalsverluste (=Zeitwertverfall) sind mit 1 Ct je Aktie zu verschmerzen.

Kurs Sea umgerechnet: 3,46 Euro.

Es wundert mich echt, daß hier so viele obskure Papiere durchs Forum getrieben werden und sich doch nur eine Handvoll Leute für sea interessiert.
Sea und Bema sind meine beiden Basisinvestments im Goldsektor. Den Charts zu Folge liege ich nicht ganz daneben

[konradi]

.

November 12, 2003

New Assays Suggest Potential for Additional Gold Deposits at Seabridge’s Courageous Lake Project

Toronto (Canada)…Seabridge Gold reported today initial assay results from sampling of drill core from targets identified in its 2003 summer exploration program at its 100% owned Courageous Lake gold project located in the Northwest Territories. The program was designed to find bulk mineable targets similar to the multi-million ounce FAT deposit also located on Seabridge’s property.

During the 2003 summer exploration program, Seabridge was successful at identifying 12 gold targets on the property with FAT-type characteristics that had been drill tested by past operators. The drill core, an estimated 110,000 meters, was retained on the property but never evaluated for bulk mineable potential. From September to mid December of this year, a new work program is evaluating and prioritizing these 12 targets by sampling and assaying available core. The best targets will then be explored in a new drill program scheduled for next summer.

To date, the company has completed re-logging about 10,000 meters of drill core from target zones mostly to the south of the FAT deposit. A further 10,000 metres is scheduled for completion by mid December. This work is designed to bring all the drilling on the property to a level of understanding consistent with the FAT deposit, including common nomenclatures and controls on gold concentrations.

Samples from the core are being sawed with half of the core retained on site. To date, a total of 2,588 samples have been submitted for analysis representing about 4,020 meters of core. Approximately 10% of the samples are being submitted as blind duplicates for quality control. Rejects from previous samples of this core are being selected and reanalyzed to verify past assays. In addition, selected samples are being submitted to another independent laboratory for verification.

A total of approximately 60 drill holes will be assayed from the 12 target zones. To date, results have been received from 12 drill holes, primarily from the Salmita area. The best results include:

Drill Hole ID
From
(meters)
To
(meters)
Interval
(meters)
Gold Grade
(g/t)
Target Zone

85-27
114.26
132.60
18.34
3.95
Salmita North

75-12
165.52
200.39
34.86
6.15
Salmita T-Zone

75-19
129.47
138.47
9.00
3.19
Salmita T-Zone


Further results are pending from the Salmita area as well as the other targets.

Seabridge President and CEO Rudi Fronk noted that none of the historic holes now being assayed were drilled to test FAT-type potential. “Typically, where there may be 250 metres or more of FAT-style stratigraphy in our target zones, these historic holes have tested less than 50 metres of stratigraphy to depths generally less than 100 metres depths because they were targeting what were thought to be vein-like structures. We are sampling and assaying these holes outside the vein-like targets to help us select the best zones for further exploration. Only our own drill programs designed to test FAT-type mineralization will provide conclusive evidence of resource potential. Nonetheless, we are very encouraged by the initial results which are consistent with our FAT deposit.”

Seabridge’s Courageous Lake project covers 53 kilometres of the Matthews Lake Greenstone Belt which hosts the 2 kilometre long FAT deposit. The FAT deposit contains an estimated 3.18 million ounces in the measured and indicated categories (48.0 million tonnes grading 2.06 grams of gold per tonne) plus an additional estimated 4.33 million ounces in the inferred category (65.1 million tonnes grading 2.07 grams of gold per tonne). The Company has commissioned Hatch, an independent engineering consulting firm, to prepare a scoping study on the FAT deposit to be completed in the 1st quarter of 2004.

National Instrument 43-101 Disclosure
Exploration activities at the Courageous Lake gold project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101.
largely funded by partners.

[valueinvestor]

Folgende Rechnung:

60% des Goldes von Sea liegt in Kanada. Wie macht sich das Währungsverhältnis US$/CAD$ bemerkbar?

Kurs 1999 1,45, aktuell 1,28 Anstieg 12%

Einiges kann man in US$ kaufen: Ausrüstung, Stahl, Öl, Reagenzien

Annahme: 50% der Kosten in US$ bezahlbar, 50% in CAD$

cash operating costs US$225 pro Unze

Währungsanstieg 12% --> neue cash operating costs +13US$

60% der Reserven/Resourcen in Kanada, 40% in den USA: Anstieg um 8 US$ für das gesamte Unternehmen.

Der Strike für die Seabridge Aktie steigt also auf derzeit 408$.

Bei einem aktuellen Goldpreis von 425US$ hat sea also immer noch Verdopplungspotential (innerer Wert 8,5US$)

[dieNachteule]

@Valueinvestor

Danke für die Überlegung, ich bin investiert.


Die Nachteule

[valueinvestor]

Neues All Time High!

[valueinvestor]

5,89CAD$, +12%

[dieNachteule]

@Valueinvestor


Sieht aus, als hätte Seabridge was fettes gefunden...



Source: Seabridge Gold Inc.


New Assays Enhance Search for Additional Gold Deposits at Seabridge`s Courageous Lake Project
Thursday January 8, 6:03 am ET


TORONTO, ONTARIO--Seabridge Gold reported today that new assay results from Courageous Lake drill core continue to support the potential for additional bulk mineable deposits on its 100% owned property located in the Northwest Territories. The current program is designed to find bulk mineable targets similar to the multi-million ounce FAT deposit also located on Seabridge`s property.
During the 2003 summer exploration program, Seabridge was successful at identifying 12 gold targets on the property with FAT-type characteristics that had been drill tested by past operators. The drill core, an estimated 110,000 meters, was retained on the property but never evaluated for bulk mineable potential. From September through December of 2003 Seabridge conducted a program to evaluate and prioritize these 12 targets by sampling and assaying available core. The best targets will be then be explored in a new drill program scheduled for this summer.

In its 2003 program, the company re-logged about 12,500 meters of drill core from target zones mostly to the south of the FAT deposit. This work was designed to bring all the drilling on the property to a level of understanding consistent with the FAT deposit, including common nomenclatures and controls on gold concentrations.

Samples from the core were sawed with half of the core retained on site. A total of 4,559 samples have been submitted for analysis representing about 6,200 meters of core. Approximately 5% of the samples were submitted as blind duplicates for quality control. Rejects from previous samples of this core were also selected and reanalyzed to verify past assays. In addition, selected samples were submitted to another independent laboratory for verification.

A total of approximately 60 drill holes will be assayed from the 12 target zones. In November, 2003 Seabridge announced initial assay results from the Salmita North and Salmita T-Zone targets. The Salmita North, with a surface expression of 500 metres by 200 metres, lies 2.5 kilometres southeast of, and on strike with, the FAT deposit. The Salmita T-Zone is similarly sized and lies immediately southeast of Salmita North. The latest assay results enhance the potential for these two targets to cohere into a FAT style deposit.

New assay results have also been obtained for the Olsen target, a 500 metre by 300 metre zone situated immediately south of the Salmita T-Zone. The Boundary Zone, which lies approximately one kilometre south of the Olsen target, has a strike length of about 700 metres and a width of 150 metres. Selected assay results are as follows:

-----------------------------------------------------------------------
Drill From To Interval Gold Grade Target Zone
Hole (meters) (meters) (meters) (g/t)
ID
-----------------------------------------------------------------------
88-10 120.30 124.45 4.05 2.20 Salmita North
196.31 202.25 5.94 12.39
-----------------------------------------------------------------------
88-15 46.63 51.63 5.00 1.16 Salmita North
54.71 66.73 12.02 4.72
-----------------------------------------------------------------------
82-16 99.02 121.48 22.46 15.62 Salmita T-Zone
-----------------------------------------------------------------------
82-17 27.22 40.66 13.44 4.72 Salmita T-Zone
111.50 114.50 3.00 1.44
-----------------------------------------------------------------------
76-16 51.97 68.43 16.46 4.23 Olsen
-----------------------------------------------------------------------
83-07 31.45 45.14 13.69 4.54 Olsen
-----------------------------------------------------------------------
83-08 24.12 43.37 19.25 2.23 Olsen
-----------------------------------------------------------------------
84-28 35.80 73.72 37.92 4.30 Olsen
-----------------------------------------------------------------------
84-30 26.60 29.30 2.70 2.47 Olsen
55.00 67.50 12.50 1.65
-----------------------------------------------------------------------
85-29 68.90 78.05 9.15 2.14 Boundary
-----------------------------------------------------------------------
85-31 52.50 58.60 6.10 7.79 Boundary
-----------------------------------------------------------------------
85-33 55.60 67.00 11.40 1.58 Boundary
75.00 77.50 2.50 2.73
-----------------------------------------------------------------------


Further results are pending from these and other targets.

Seabridge President and CEO Rudi Fronk noted that none of the historic holes now being assayed were drilled to test FAT-type potential. "Typically, there may be 250 metres or more of FAT-style stratigraphy in our target zones. These historic holes have typically tested less than 50 metres of stratigraphy to depths of less than 100 metres because they were targeting what were thought to be vein-like structures. We are sampling and assaying these holes outside the vein-like targets and incorporating historical assay data to help us select the best zones for further exploration. Only our own drill programs designed to test FAT-type mineralization will provide conclusive evidence of resource potential. Nonetheless, we are very encouraged by these new results which suggest that the Salmita North, Salmita T-Zone and Olsen targets collectively have the size potential and geology to host another FAT deposit."

Seabridge`s Courageous Lake project covers 53 kilometres of the Matthews Lake Greenstone Belt which hosts the 2 kilometre long FAT deposit. The FAT deposit contains an estimated 3.18 million ounces in the measured and indicated categories (48.0 million tonnes grading 2.06 grams of gold per tonne) plus an additional estimated 4.33 million ounces in the inferred category (65.1 million tonnes grading 2.07 grams of gold per tonne). The Company has commissioned Hatch, an independent engineering consulting firm, to prepare a scoping study on the FAT deposit. A key component of the scoping study is to evaluate and recommend processing options for the FAT deposit`s refractory ore. The Company recently announced that metallurgical test work conducted by SGS-Lakefield under the supervision of Hatch has concluded that the Courageous Lake`s FAT deposit can produce a high-grade flotation concentrate that captures 93-94% of mill feed gold content at a relatively coarse grind. Hatch estimat
es that a refractory process to treat this concentrate should ultimately recover 90-92% of mill feed gold content. (see News Release dated December 18, 2003 for details.)


MfG, Die Nachteule

[dieNachteule]

@alle


Und noch ein fetter Bericht...


http://www.gold-eagle.com/editorials_04/zihlmann010804.html


MfG, Die Nachteule

[valueinvestor]

Ladies and Gentlemen, die 6!!!

[konradi]

.

http://www.seabridgegold.net/pr_90.htm

http://www.integratir.com/quote_chart.asp?ticker=v.sea

Gruß an die Investierten - Konradi

[valueinvestor]

Guter Tag heute. Jetzt gilt es, jeden Zweifel daran zu zerstreuen, daß sich irgendetwas Ähnliches wie eine Schulter Kopf Schulter Formation herausbilden könnte...

[konradi]

.

http://www.seabridgegold.net/pr_91.htm

http://www.seabridgegold.net/images2/2004-Feb17-CLRevTargets…

.

[dieNachteule]

@alle

So ganz langsam tastet sich Silber wieder auf neue Höchststände. Gols sollte folgen, auch wenn ich für Silber bullischer bin und bleibe als für Gold. Möglicherweise sehen wir jetzt bei den Goldminen eine gute Chance zum Kauf/Nachkauf bei tieferen Kursen.


MfG, Die Nachteule

[dieNachteule]

@alle

Fairer Wert heute:


Knapp 3 Euro.


Die Nachteule

[dieNachteule]

@alle

Fairer Wert heute:


Über 3 Euro.

[konradi]

.

http://www2.ccnmatthews.com/scripts/ccn-release.pl?/current/…

.

[valueinvestor]

Innerer Wert heute wieder 3 US-Dollar - ok zwischenzeitlich waren wir ein bissel aus dem Geld...

Der hier kostet 1,61!!!

Bezeichnung Call auf Gold (Deutsche Bank)
Region
Basiswert Gold Index
Emittent 1173
Ausübungsart amerikanisch
Kategorie -
Typ Call
Basispreis 600
Bezugsverh. 1/10
Emissionsdatum 19.01.2004
Verfallsdatum 28.05.2008
var.handel.Stückzahl 1
mindest. Stückzahl 10000


Also die halbe Unze von Seabridge kostet zur Basis 600$ bereits über 8 Euro!
Wenn dieser Schein 2008 beim POG 599,99 wertlos verfällt, sollte Seabridge ungefähr bei 100 Dollar liegen.

[valueinvestor]

Zusätzlichen Treibstoff sollte der Kurs durch das nach Ansicht gewöhnlich gut informierter Kreise unmittelbar bevorstehende Listing an der AMEX.
Dies sollte dann auch Anlegern aus D die Möglichkeit zum Kauf geben, denn Berlin kann man nicht ernsthaft in Betracht ziehen und ein OTC Geschäft ist auch nicht jedermans Sache (ich lag dort ziemlich lange mit nem limit auf der Lauer) - Kanada/Vancouver hatte mein Broker nicht im Programm.

[Leh007]

Wechsle den Broker !!

[konradi]

.

http://www.seabridgegold.net/pr_94.htm

[valueinvestor]

Der Schein von #61 kostet mittlerweile 1,92, die halbe Unze von sea also fast 10 US$ - zur Basis 600
sea selber, mit einem inneren Wert von heute 10 US$ gibt es für 3,86 US$.
Sag noch einer, alle Goldaktien seien überteuert...

[derivatus]

@ value

Ich bin mir immer noch nicht im klaren wie serioes diese
Firma ist. Sonst wuerde ich mehr investieren.

[valueinvestor]

AMEX Approves Listing Application for Seabridge Gold

Toronto (Canada)…Seabridge Gold reported today that it has been advised by the American Stock Exchange that its application for listing of its common shares has been approved. This approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards. Following selection of a specialist and other final arrangements, Seabridge Gold’s common shares will trade on the American Stock Exchange under the symbol SA. A date for the commencement of trading has not yet been set.

Seabridge Gold’s common shares will also continue to trade on the TSX Venture Exchange under its current symbol, SEA.

ON BEHALF OF THE BOARD


"Rudi Fronk,"
President & C.E.O.

siehe dazu auch #57

@ derivatus

normalerweise müßte man bei einem solchen Papier nur eine kleine Summe investieren. Da die Konstruktion von sea aber dermaßen ideal als Versicherungspolice gegen einen Zusammenbruch der US Ökonomie geeignet ist, "hedge" ich mein Portfolio von Nebenwerten mit folgender Annahme:

Szenario: Zusammenbruch der US Ökonomie, Aktienkurse brechen wieder mal um 50% ein. Gleichzeitiger Anstieg Goldpreis auf auf 550$,
durch Wechselkursänderungen steigt der Basispreis von sea auf 450$, innerer Wert sea dann 50$.
Portfoliowert nur noch 50%, aber sea steigt um das 13 fache, also reicht eine portion sea von 4% des Depotvolumens aus.
Durch die erfreuliche Kursentwicklung im letzten Jahr ist seabridge hinter Vetropack zweitgrößter Posten in meinem Depot geworden.

selbstredend möchte ich aber nicht warten bis die Aktien um 50% einbrechen - ich hoffe, rechtzeitig auszusteigen und dann mit sea dick ins Plus gespült zu werden, außerdem halte ich noch andere Minenwerte (Perilya, Noranda, Kinross, Kingsgate und noch ein paar Bema).

An den Goldvorkommen von sea zweifle ich nicht - schließlich haben sie die Felder von anderen Gesellschaften für ´nen Apfel und ein Ei gekauft und benutzen deren Explorationsergebnisse und verfeinern sie.
Da sehe ich erst mal relativ wenig Möglichkeiten, was zu türken - relativ im Vergleich zu Exploren etc.

gruß, value

[valueinvestor]

Seabridge Gold to Begin Trading on AMEX

Toronto (Canada)…Seabridge Gold reported today that it expects its common shares will begin trading on the American Stock Exchange (AMEX) on Tuesday April 20, 2004 under the symbol SA. The specialist for Seabridge will be LaBranche & Co. LLC.

Seabridge Gold’s common shares will also continue to trade on the TSX Venture Exchange under its current symbol, SEA.

Seabridge has been designed to provide its shareholders maximum leverage to the price of gold. The Company has acquired a 100% interest in eight North American gold projects which collectively contain an estimated 8.74 million ounces of resources in the measured and indicated categories (250.1 million tonnes grading 1.09 grams of gold per tonne) plus an additional estimated 6.83 million ounces of resources in the inferred category (201.0 million tonnes grading 1.06 grams of gold per tonne). (See http://www.seabridgegold.net/gold_resources.htm for a breakdown of these gold resources by project). The Company continues to seek expansion of its gold resource base by acquisition of new projects and exploration programs largely funded by partners.

[valueinvestor]

Man könnte ja fast meinen, ich sei der einzige, der hier noch aushält.
Jetzt habe ich die Dinger genau en Jahr, die Spekufrist ist um, 100% Buchgewinn hatte sich ganz kurzfristig sogar ganz in Luft aufgelöst, aber jetzt ist wieder was da.

Traden tue ich mit seabridge nicht, sie sind und bleiben meine Versicherungspolice auf einen GAU in den USA - deshalb waren die letztjährigen Kursgewinne so gar nicht vorgesehen, weil der Rest sich prima entwickelt hat.

[valueinvestor]

Amex entdeckt SA:

[konradi]

Hi value

nee, nee ich bin auch immer noch dabei. Gehört bei mir ins Witwen- und Waisendepot ...

Gruß K.

[valueinvestor]

Heute in Kanada +22%, zusammen mit dem Amex Umsatz heute höchster Umsatz des letzten Jahres.
[Kalauer]Haben die Gold gefunden oder was?![/Kalauer]

[valueinvestor]

schöne Analyse:

http://www.jmdutton.com/Research/SA/REPORTS/Index_FullScreen…

[konradi]

.

tja, Value, jetzt brauchen wir in diesem Thread nur noch jemanden, der sich so ins Zeug legt, wie Neono mit Cardero Resources...

Uns fehlt ja offenbar die power ...

Gruß Konradi

.

[valueinvestor]

Ach weißt Du, ich habe meine ja schon - und ob die anderen Sie haben ist mir eigentlich wurscht - ich habe da nur marginales Sendungsbewusstsein, auch geht es mir nicht um einen Pusch oder Zock. Sondern darum, Informationen bekannt zu machen, damit ich auch mal welche bekomme. Was soll man täglich über ein Ei gackern, was erst in ein paar Jahren (Monate wären auch ok! ;D ) so richtigt schlüpft?
Wenn Gold einmal bei 550 oder 600 steht, werden die Anleger schon merken, was ihnen entgangen ist.

Seabridge Gold Strong Speculative Buy Rating In Initiating Coverage;
Best-Positioned Small-Cap Gold Company In North America
Kursziel erst mal 5,60, in der Analyse wird ein innerer Wert von über 12 US$ angegeben.

[valueinvestor]

Hey, wir sind wieder "im Geld" und der Kurs schnorchelt vor sich hin.



Ich denke, bald wird der 7 monatige Abwärtstrend abgehakt sein. Es würde mich nicht wundern, wenn der Ausbruch gleich mit 20% nach oben in ein paar Tagen gelingt.

[konradi]

download J.M. Dutton roadshow:
http://www.jmdutton.com/Research/SA/Index_Road_Show.html

[valueinvestor]

fat oder noch fatter?

Seabridge Gold Drilling Expands FAT Deposit
New Higher Grade Southern Extension Confirmed
Infill Drilling Suggests Improved Grade and Reliability of Inferred Resources
Engineering Study Rescheduled to Incorporate New Drill Results

Toronto, Canada…The first eight diamond drill holes from this summer’s program at Seabridge Gold’s 100% owned Courageous Lake property in the Northwest Territories have been drilled and assayed. The results confirm the strong potential for a significant expansion in size and grade of the multi-million ounce FAT deposit, already Canada’s largest undeveloped gold project. Drilling will resume on August 10 with an additional rig to increase meterage during the short summer season.

In June, Seabridge commenced a core drilling program at Courageous Lake designed to test three of nine new bulk mineable gold targets identified in the 2003 summer field program and to upgrade the resource model for the FAT deposit. Approximately 3,000 meters have been drilled to date in eight holes. Another 12 core holes previously drilled into the FAT deposit by Noranda are now being sampled with assay results expected in late August. Most of this core was not sampled and assayed by Noranda.

South Extension of FAT Deposit
Holes CL-004 through CL-006 were designed to test for the possible southern extension of the three main mineralized zones which comprise the FAT deposit. This potential was not fully explored by previous operators of the FAT deposit because the ground to the south was independently owned. Seabridge recently acquired control of the last remaining claim south of the FAT deposit, consolidating the land position under one ownership for the first time. The three holes drilled this summer confirm the extension of all three mineralized zones to the south of the known deposit for at least 300 meters. Results from these three holes are as follows:

Drill Hole ID From To(meters) Interval (meters) Gold Grade(g/t)

CL-004 174.4 196.9 22.5 1.32

CL-005 31.0 183.4 200.9 37.0 187.9 203.8 6.0 4.5 2.9 3.94 1.23 1.12

CL-006 107.7 209.7 124.0 244.2 16.3 34.5 3.28 3.91


CL-004 and CL-005 were likely located too far west to intersect the main mineralized zones. CL-006 found the target zones with the first zone encountered approximately 75 metres from surface, 300 metres south of the FAT deposit. Seabridge plans immediately to commence a new 6,000 meter program to drill this 300 meter extension on 50 meter sections so as to define a new resource. It is important to note that the grade encountered in CL-006 is approximately 80% higher than the average grade of the FAT deposit resource model.

Infill Drilling on FAT Deposit
Hole CL-008 was designed to upgrade inferred resources within the heart of the FAT deposit. These inferred resources generally lie between the upper portion of the deposit drilled intensively by Placer Dome and the lower part of the deposit drilled intensively from underground by Noranda. The better- than-expected results from CL-008 not only successfully upgraded inferred resources, but also encountered wider zones of mineralization (+23%) and higher grades (+67%) than predicted by the FAT deposit block model. A comparison of actual versus expected results are as follows:

Actual Results From CL-008
Predicted Results From Block Model

Drill Hole ID From To(meters) Interval (meters) Gold Grade(g/t)
269.1 347.4 78.3 2.98 277.3 341.1 63.8 1.78


Seabridge intends to drill additional infill holes in the current program. The 12 Noranda holes now being sampled and assayed will also assist in upgrading the inferred resource.

New Exploration Targets
Seabridge drilled three holes (CL-001 to CL-003) into the Olsen target located approximately 3.5 kilometers south of the FAT deposit and one hole (CL-007) into the Walsh Lake target located approximately 7 kilometers south of the FAT deposit. The Olsen target proved to be more structurally controlled than the FAT deposit, lacking the dissemination required for a bulk mineable target. Olsen is therefore being downgraded as a target.

The Walsh Lake target is a 750 meter long zone which has many of the geologic markers associated with the FAT deposit but has not been previously drilled as a bulk mineable target. A 10-meter surface channel sample taken from outcrop across the structure by Seabridge earlier this summer produced a result of approximately 2.0 grams of gold per tonne. This part of the structure had not be drilled previously and could not be drilled in the current program due to soft ground conditions. Hole CL-007 was drilled approximately 100 meters to the south of the surface sample where little historical information was available. Exploration results at Walsh Lake to date suggest the potential for a bulk mineable zone at a satisfactory grade. Detailed geological and geophysical surveys will be undertaken as the next step to better define this target with additional drilling during the winter season when ground conditions will not be a factor.

Results of the Olsen and Walsh Lake drilling are as follows:

Drill Hole ID From To(meters) Interval (meters) Gold Grade(g/t))

CL-001 40.2 55.3 15.1 2.01

CL-002
No significant intercepts

CL-003 161.0 165.5 4.5 1.96

CL-007 106.7 140.3 110.5 142.0 3.8 1.7 2.53 6.28


Seabridge’s Courageous Lake project covers 53 kilometers of the Matthews Lake Greenstone Belt which hosts the 2 kilometer long FAT deposit. The FAT deposit contains an estimated 3.18 million ounces in the measured and indicated categories (48.0 million tonnes grading 2.06 grams of gold per tonne) plus an additional estimated 4.33 million ounces in the inferred category (65.1 million tonnes grading 2.07 grams of gold per tonne).

The Company has commissioned Hatch, an independent consulting firm, to prepare a Technical Assessment of the FAT deposit. This study was originally scheduled to be completed in July 2004. The better-than-expected drill results from the current program point to the potential for a significant enhancement of the FAT deposit resource model and mine plan. Therefore, on the recommendation of Hatch, Seabridge has elected to reschedule the completion of the engineering study until the 2004 drilling program has been completed and the data incorporated into a revised model. Hatch estimates that their final report should now be completed in December 2004. Seabridge is also considering a larger drill program to upgrade the inferred resource as would be required for a feasibility study.

National Instrument 43-101 Disclosure
Exploration activities at the Courageous Lake gold project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101.

[valueinvestor]

ein wertvolles Kaufsignal, wie ich finde.

[macvin]

Charttechnsich sogar ein eindeutiges Kaufsignal....

[valueinvestor]

Zur Erinnerung Jede seabridge Aktie ist eine halbe unze Gold, die du zu 407$ aus dem Boden holen kannst.
Mithin heute innerer Wert von 10,5 $.

[derivatus]

Seabridge Gold Inc (AMEX: SA $3.74)
Research Note
Industry: Metals & Mining
Rating: Strong Speculative Buy Reiterated
Price Target: $5.60
By: Les Childress

Seabridge Gold: Gold Resources Likely to Increase at Courageous Lake

November 03, 2004. Seabridge (AMEX: SA) announced today that positive assay results from 17 of 19 new drill holes completed at its 100%-owned Courageous Lake property in Northwest Territories, Canada, confirm the FAT deposit continues for at least an additional 300 meters to the south of the existing deposit. This announcement is extraordinarily good news for Seabridge. We will be discussing this aspect of Seabridge as well as others in our forthcoming update report. We affirm our Strong Speculative Buy rating of Seabridge shares.
Download Research Note

quelle: JM Dutton Research Weekly News vom 3.11.2004

[dieNachteule]

@alle


Wisst ihr, was mir an Seabridge Gold so gut gefällt?

Sie notiert in CAD. Im Gegensatz zum USD ist das ja geradezu ein Paradies, es drohen keine Währungsverluste. Jedenfalls keine in dem Ausmass, welches beim USD droht.

Aber da ein guter Teil der Reserven in den USA liegen, profitieren sie direkt vom steigenden Goldpreis in USD!

Eine Aktie so richtig schön zum Einbunkern und Liegenlassen. Sobald die grossen Minen merken, dass sie frisches Gold benötigen, weil die Produktion immer weiter fällt, wächst der Appetit auf die Juniors. Dies ist schon jetzt der Fall.


MfG, Die Nachteule

[valueinvestor]

*weiterimbunkerverstaubenlass*

http://www.seabridgegold.net/press_releases/pr_107.htm

December 14, 2004


Significant Resource Expansion at Seabridge Gold’s Courageous Lake Project
Gold Resources Increase 12%, Average Grade up 15% at 1.0 Gram Cut-off.
Measured and Indicated Resources Grow by 357,000 Ounces, Inferred by 554,000 Ounces.
Three Priority Targets Defined for Further Resource Expansion

[valueinvestor]

January 11, 2005


New 43-101 Technical Report on Seabridge Gold’s Courageous Lake Project Confirms Higher Grades and Increased Ounces of New Resource Model


Toronto, Canada...An updated 43-101 Technical Report has been prepared by Resource Modeling Inc. (“RMI”) of Tucson, Arizona on Seabridge Gold’s 100% owned Courageous Lake project in Canada’s Northwest Territories. The report confirms the previously announced resource model including a 12% increase in gold resources and a 15% increase in average grade at a 1.0 gram per tonne cut-off.


Wenn Gold in ein paar Jahren bei 600 $ steht, ist dieses Papier der dickste Gewinner.

[valueinvestor]

...Sie bohren mal wieder neue Löcher und gucken, ob Gold drin ist...

... J.M. Dutton beläßt sein Kursziel auf 5,60$...

Da durch Kurssteigerungen in meinem angestammten Investitionsgebiet deutsche/europäische MikroCaps der Depotanteil von Seabridge über Gebühr zurückgefallen ist, habe ich meine Depotversicherungspolice in den USA um 1.000 Stück erhöht. Folgende Szenarien sind denkbar:
Der Goldaufwärtstrend bleibt intakt, dann ist jetzt der beste Zeitpunkt zum Kaufen.
Sollte die Goldparty zu Ende sein, wars Mist.

[dieNachteule]

@Valueinvestor


Sind dir die anziehenden Umsätze aufgefallen?

Ich glaube, Seabridge ist reif für eine gute Erholung.


MfG, Die Nachteule

[valueinvestor]

Das sieht alles sehr viel versprechend aus:
Der Chart von Sea macht einen deutlichen Boden, die Umsätze sind ok, und der Goldpreis macht auch einen mittelfristigen Boden. Sehr angenehmes Szenario - meine ersten beiden Positionen sind auch schon aus der Spekulationsfrist draußen. So dass ich mit einem Drittel sogar einen kleinen Trade machen könnte.

[valueinvestor]

Wenn jemand mal einen Chart braucht, um das Stichwort "Nachholbedarf" zu erläutern:

[valueinvestor]

Aktienzahl
01: 14.575.366
02: 21.074.413
03: 27.558.685
04: 29.476.185
05: 31.356.185

Gold Measured
755.000
1.189.000
1.357.000
1.375.000
1.457.000

Indicated
##562.000
4.370.000
6.623.000
7.364.000
7.639.000

Inferred
##121.000
2.499.000
5.779.000
6.831.000
7.550.000


Gold Resourcen gesamt
1.438.000
8.058.000
13.759.000
15.570.000


Gold Resources Per
Fully Diluted Share
0,0987
0,3824
0,4993
0,5282
0,5309

Sieht gut aus, die Verwässerung durch die diversen Finanzierungsrunden trägt immer noch Früchte, ich meine, es dürfte ein bissel was noch in die messured Kategorie rüber laufen.

[valueinvestor]

Der Chart wird echt langsam zermürbend. Ich habe bei 3,15 US$ mein jährliches Zusatzpäckchen geholt, aber da ist kein Land in Sicht.
Meine Theorie: Seabridge zahlt für die Exploraionen mit Aktien und diese finden momentan, wenn von den Unternehmen verkauft keine Nachfrage.
Ich bleibe zuversichtlich, auch wenn der Kurs bei Goldpreis über 430 schon ganz anders aussah.

[DCShoes]

HV am 9.Juni

Seabridge hat die Einladung zur Hauptvesammlung auf der Homepage bereitgestellt:

HV am 9.Juni

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
Notice is hereby given that the Annual General Meeting of the shareholders of Seabridge Gold Inc. (herein called the
“Corporation” will be held at The Albany Club, 91 King Street East, Toronto, Ontario, Canada M5C 1G3 on Thursday
June 9, 2005, at the hour of 4:30 p.m. (Toronto time) for the following purposes:
(..)

Der Kursverlauf war in den vergangenen Wochen wenig erfreulich, die Schwankungen werden nun jedoch stärker und es gibt Ausreißer nach oben. Wird hier der Kurs gedeckelt oder sind hier Kurfrist-Zocker am Werk?

[valueinvestor]

Die Meldung ist für 8% Plus gut gewesen (momentan allerhöchstens als Schmerzensgeld zu verstehen):

New Structural Interpretation Points to Higher Grades at Seabridge Gold’s Courageous Lake Deposit

Hole CL-039 Intersects 81 Meters at 5.37 gpt Gold, 79% Above Modeled Grade

Toronto, Canada... Seabridge Gold announced today that it has successfully drill-tested a structural interpretation to find higher grade zones within the existing FAT deposit at its 100% owned Courageous Lake gold project in the Northwest Territories, Canada. The results point to the potential to increase the overall grade of the deposit by testing other similar structures known to exist within the FAT resource.


81 Meter ist natürlich ein Wort. Oft sind die Explorer sich nicht zu blöde, 3 gramm auf 28 cm zu veröffentlichen.

[valueinvestor]

New Structural Interpretation Points to Higher Grades at Seabridge Gold’s Courageous Lake Deposit

Hole CL-039 Intersects 81 Meters at 5.37 gpt Gold, 79% Above Modeled Grade

Toronto, Canada... Seabridge Gold announced today that it has successfully drill-tested a structural interpretation to find higher grade zones within the existing FAT deposit at its 100% owned Courageous Lake gold project in the Northwest Territories, Canada. The results point to the potential to increase the overall grade of the deposit by testing other similar structures known to exist within the FAT resource.



81 Meter ist natürlich ein Wort, andere veröffentlichen ja schon 2,6 Gramm auf 28 cm.
Die Meldung bringt ein Plus von 8% Schmerzensgeld.

[DCShoes]

Dat schwuppelt sich schön wieder hoch zur Zeit..

[valueinvestor]

Blindgänger oder Explosion?

Im after hours trading wurde gestern laut bigcharts in New York 3,51$ bezahlt, ein plus von 33%. Umsatz 3.200 Stück
Nachrichten habe ich keine gefunden. Ist da ein Greenhorn skalpiert worden oder gibt es heute die große Sause?

Ich habe gestern wieder mal ein Päckchen geholt. Man muss immer mehr kaufen, um den Depotanteil bei 5% zu halten

[valueinvestor]

Explosion!




wer weiss etwas?

[valueinvestor]

600.000 Stück Umsatz ist ein gewaltiges Wort, der bisherige Rekordumsatz in NY dürfte etwa bei 120.000 Stück liegen.
News finde ich keine, aber es gibt eigentlich nur wenige Möglichkeiten:
a) Übernahme (hoffentlich noch nicht)
b) Gold gefunden (nanana, ihr insider)
c) irgend ein einflussreicher Börsenbriefheini macht sich für Seabridge stark

gestern einen guten Riecher gehabt.

[valueinvestor]

Im ganzen Netz keinen Schnipsel gefunden...
Aber der Kurs

[valueinvestor]

27% in drei Tagen

[valueinvestor]

Fortsetzung Alleinunterhalter:

Heute plus 8% und folgende Meldung - steckt die hinter dem Kursanstieg letzte Woche?
Ich orientiere mich bei der Interpretation solcher Meldungen nach der Kursreaktion der Börse...

Seabridge Gold Drilling Finds 850 Meter Southern Extension of FAT Deposit Mineralized Zones

TORONTO--(BUSINESS WIRE)--July 18, 2005--Seabridge Gold (TSX VENTURE:SEA)(AMEX:SA) announced today that recent drill results at its 100% owned Courageous Lake project suggest the potential for a further 850 meter strike extension of the FAT deposit to the south. The FAT deposit was previously thought to be limited to the south by a gabbro dyke at section line 3800N. In the recent program, eight holes were drilled to test for the southern extension, four on section 3650N, three on section 3050N and one on section 2950N. Two of the three main mineralized zones of the FAT deposit were encountered on these section lines with encouraging results. Some of the better intersections drilled are as follows:

hier verschone ich euch mit der unformatierten Tabelle, je 3 bis 5 Meter von 1 bis 4 gr Gold



Consistent with the drilling on the FAT deposit, these holes intersected over 200 meters of felsic tuff units intercalated with sedimentary rocks.

Seabridge`s geologists have noted that this further southern extension appears to represent a transitional zone of increased clastic sedimentation with mixed intervals of eruptive units. This interpretation suggests that the area south of the gabbro dyke may be approaching the southern margin of the basin hosting the FAT deposit. Nonetheless, about 1000 meters of this southern strike extension now warrant further delineation drilling in expectation of adding to resources.

Seabridge Senior Vice President Bill Threlkeld noted that all three objectives from the 2005 Courageous Lake winter drill program have been achieved. "We have added potential for new resources to the north and south of the known deposit and we have demonstrated the likelihood of improving the grade of the existing deposit by using our new interpretation of structural controls on higher grade mineralization. We also remain very encouraged by the potential for additional depositional basins similar to the one that hosts FAT. It now appears that the former Salmita and Tundra mines further to the south of the FAT lie up-section within a separate basin. At least four kilometers of this basin have yet to be drilled."

[valueinvestor]

value alleine zu Haus. Huhu, wo seid ihr?

es sind +15% geworden.

Wenn ich die Meldung richtig deute, könnte es also sein, dass das fat deposit am Courageous Lake mit dem Goldvorkommen der Salmita Mine zusammenhängt. Bisher war durch die Geologie des Geländes angenommen worden, das in einer Gabbro Zone, die zwischen den bekannten Vorkommen am Lake und der Salmita liegt, kein Gold mehr zu finden sei.

Zur Salmita folgendes:

The Salmita Mine was a gold producer in the Northwest Territories, Canada during 1983 to 1987. The deposit was first discovered in 1945 and underground exploration was carried out in 1951-1952. It was reactivated for exploration by Giant Yellowknife Mines Limited in 1975 and entered production in 1983. They used the old camp and milling plant of the abandoned Tundra Mine, located a few kilometers to the south. The mine produced 179,906 troy ounces (5596 kg) of gold from the milling of 238,177 tons of ore.

Jetzt kann man sich folgendes denken:

Zum einen werden die noch potentiellen Resourcen, die man sich erbohren kann deutlich ansteigen ("At least four kilometers of this basin have yet to be drilled.").

Zum anderen - wobei ich auch völlig falsch liegen kann - scheint eine Erschliessung über die Salmita Mine möglich. Für die Realisierung eines solchen Projektes ist es sicher nicht unerheblich, ob eine komplett neue Mine angelegt werden muss oder ob man auf zwar schon 20 Jahre alte aber doch vorhandene Infrastruktur zurückgreifen kann. Daher könnte Courageous Lake leichter dereinst in Produktion gehen.

Disclaimer: Ich gehöre nicht zu den 12 besten Goldminenkennern Deutschlands sondern bin Laie und bastele mir nur eine Erklärung zusammen, frei nach Adolf Tegtmeier: Wat man nich selber weiss, dat muss man sich erklären

[Wutzwutzle]

Hi value,

auch ich bin sehr erfreut über den Anstieg meines "Goldanteils" im Depot. Da Du ja aber immer die aktuellen Informationen lieferst, kann ich mich genüßlich zurücklehnen und den Wertzuwachs der Aktie betrachten

[konradi]

.

Value, Du bist nicht allein !

Ich ´habe nur die Lust verloren, hier ständig aufzukreuzen, weil hier nur noch die aberwitzigsten Explorer gepusht werden. Jeder halbwegs versierte goldbug weiß wie diese pump and dump Aktionen gesteuert werden. All das wäre mit einem Achselzucken zu ertragen, wenn es wenigstens zwei, drei Threads gäbe, deren Horizont oberhalb des persönlichen Freßnapfs lägen, - aber so ...

Fette deposits wünscht Konradi

---

News Release July 18, 2005

Seabridge Gold Drilling Finds 850 Meter Southern Extension of FAT Deposit Mineralized Zones

Toronto, Canada…Seabridge Gold announced today that recent drill results at its 100% owned Courageous Lake project suggest the potential for a further 850 meter strike extension of the FAT deposit to the south. The FAT deposit was previously thought to be limited to the south by a gabbro dyke at section line 3800N. In the recent program, eight holes were drilled to test for the southern extension, four on section 3650N, three on section 3050N and one on section 2950N. Two of the three main mineralized zones of the FAT deposit were encountered on these section lines with encouraging results. Some of the better intersections drilled are as follows.

For the complete news release, please visit http://www.seabridgegold.net/News.htm

[GeldkommtzuGeld]

hier mal was neues.

Seabridge Gold Strong Speculative Buy Rating Maintained; Best-Positioned Small-Cap Gold Company In North America
Les W. Childress
August 22, 2005. We enthusiastically affirm our Strong Speculative Buy rating for Seabridge Gold (AMEX: SA) and our previously established short-term target price of US $5.60 per share, a level 55% above the current $3.62 price. Our rating and price target continue to be premised on the view that Seabridge is the best-positioned small-cap gold company in North America to benefit from a rising gold price because the resource base has enlarged 6.9% year-over-year and the grade has improved, demonstrating the potential for significant organic resource growth. Coupled with our view that the long-term bias for gold prices is higher from here, the potential for the Company in its Courageous Lake, Northwest Territories, project alone could far surpass our price target. Clearly our conviction that Seabridge shares represent the best value play of all the junior gold stocks in North America is largely based on absolutely huge resources at its Courageous Lake and Kerr-Sulphurets projects. To this we add that Seabridge has (1) no debt; (2) no legacy environmental issues; (3) more gold resources per share at 0.52/oz than any gold company, and (4) the lowest market capitalization per ounce at $7.00/oz.

Quelle: http://www.jmdutton.com/frontpage.html

[valueinvestor]

nicht viele Goldtitel haben ihr Dezemberhoch schon erreicht.

[valueinvestor]

all time high

[GeldkommtzuGeld]

I love it !!!


Seabridge Gold Share Price Target Raised on Higher Gold Price; Rating Maintained at Strong Speculative Buy
Les W. Childress
September 19, 2005. Our $5.60 price target for Seabridge Gold Inc. (AMEX: SA) has been premised on a $450/oz price for gold. As we now believe the price of gold will be driven by a stagflation-like scenario, and will work its way higher toward the $500/oz level which will be reached soon, we are upping our price target for Seabridge shares. The upside to Seabridge from here is predicated on three elements: expansion of the resource base, bankable feasibility for the Courageous Lake project, and higher gold prices. Our new price target for Seabridge is $9.45 per share.

[valueinvestor]

Daher weht der Wind:

http://www.seabridgegold.net/News.htm

Preliminary Assessment Completed For Seabridge Gold’s Courageous Lake Project

Base Case Estimates 8.5 Year Mine Life with Average Annual Gold Production at 545,000 Ounces,

Average Cash Operating Cost at US$279 Per Ounce, and Initial Capital Costs of US$630 Million



Toronto (Canada) – Hatch Ltd. has completed its Preliminary Assessment Study for Seabridge Gold’s 100% owned Courageous Lake project located in Canada’s Northwest Territories. Although the study provides capital and operating cost estimates of the project to a pre-feasibility level, it incorporates inferred resources and is therefore categorized as a Preliminary Assessment. Hatch sub-contracted Roscoe Postle Associates Inc. (“RPA”) to provide the geologic and mining aspects and EBA Engineering Consultants Ltd. (“EBA”) to provide environmental, geotechnical and tailings management information.

((8,5Jahre*545.000 Unzen*279$)+630 Millionen)/(8,5*545000)

= 415 $!

Der Bericht geht von 423$ Gesamtförderkosten +30%/-20% Schwankungsbreite aus. Bei einem Goldpreis von 500 $ liegt der pre tax net cash flow bei 324 Millionen $. Bei einer möglichen Ausweitung des FAT Deposits sind auch 516 millionen drin.

Ich bin mir sicher, dass diese Neuigkeiten für den Riesenumsatz vor ein paar Wochen gesorgt haben.

[schuh]

Hallo Valueinvestor,

wo liegt dann deiner Meinung nach der faire Kurs aktuell bzw. bei Gold 500 USD????

[valueinvestor]

Sea ist eine Call Option auf 0,5 Unzen Gold mit Basis jetzt bei 423$ - Courageous Lake steht für mehr als die Hälfte der Goldvorkommen von Seabridge.
Innerer Wert demnach 22,5 Dollar. Da der potentielle Minenbetreiber auch was verdienen will und man die künftigen Erträge abdiskontieren muss, setze ich das Kursziel mal vorsichtig mit 30% des inneren Wertes an - also Richtung 7$. Steigt Gold auf 500, dürfte der Kurs bei 11,50 liegen.
In dem pdf ist eine schöne Tabelle mit potentiellen Erträgen, mit der kann man gut spielen, wenn du es auf das ganze Gold von sea hochrechnest.

Schade, dass die Meldung schon vorher jeder kannte, der Kurs macht heute gar nix.

[valueinvestor]

Nachtrag:

Anzahl Aktien: 31.356.185
measured 1.457.000
indicated 7.639.000
inferred 7.550.000

total: 16.646.000

Resourcen gesamt je Aktie: 0,5309

[valueinvestor]

Bitte einen Blick auf den Chart in #101 zu werfen: Das Volumen ist wieder kräftig gestiegen. sieht Klasse aus, vor allem wenn man weiß, dass die gestrige Kerze ein Fake ist. Minutenlang wurde gestern zu 4,25 gehandelt, dann kamen 200 Stück zu 3,26 und dann sofort wieder Kurse bei 4,25. Riecht nach Tippfehler bei wem auch immer.

[GetTheTop]

Hallo Valueinvestor,

ich habe hier einen Text, der dir wahrscheinlich nichts Neues sagt, aber sich gut liest:

Wie Sie Gold für weniger als 10 $ kaufen können

Von Dr. Steve Sjuggerud

Rick Rule ist eine lebende Legende wenn es um das Thema "Geldanlage in
Bodenschätze" geht. Vergangene Woche hielt er eine Rede auf einer
Konferenz zum Thema "Gold".

Unsere große Frage an Rick war, wie er mit Aktien von Goldminen Geld
verdient.

Rick sagte, der beste Weg sei jetzt das Hamstern von Gold, also der
Kauf von Goldvorräten im Boden.

"Zur Zeit denkt jeder, dass man eine Mine erschließen und betreiben
sollte. Aber damit macht man kein Geld ... Man muß stattdessen das
Gold im Boden besitzen und anderen die hohen Beträge, manchmal
hunderte Millionen $, für das Schürfen zahlen lassen."

Auch ein Sprecher der Goldgesellschaft Seabridge Gold (AMEX-Kürzel:
SA) sprach zum Thema. Danach ist eines der Grundprinzipien des
Unternehmens keine eigenen Minen zu betreiben. Stattdessen besitzt
Seabridge das Gold im Boden und gewinnt führende Minengesellschaften
für Joint Ventures um das Gold zu fördern.

Da die Aktie von Seabridge mit weniger als 10 $ je Unze Gold bewertet
ist, dürfte das Unternehmen wohl am attraktivsten von allen aus der
Branche sein.

Lassen Sie mich das erklären ...

Seabridge Gold ist schon 70 % gestiegen und immer noch billig.

Vor etwa 2 Monaten empfahl ich die Aktie bei 2,65 $. Heute steht sie
bei 4,50 $, ein Plus von 70 %. Grund dafür ist auch der aktuelle Run
auf Gold. Aber eben deswegen ist die Aktie auch nach dem starken
Anstieg immer noch attraktiv.

Zuerst einmal bekommen Sie eine Menge Gold fast geschenkt. Der
Börsenwert von Seabridge liegt derzeit bei weniger als 150 Millionen
$. Die Firma verfügt über Goldvorräte von 16,6 Millionen Unzen im
Boden. Sie bezahlen so weniger als 10 $ für jede Unze Gold im Boden.
Damit ist Seabridge wohl die billigste Goldaktie der Welt.

Dazu kommt: Das Unternehmen hat seinen Sitz in Nordamerika, nicht etwa
in Russland, Indonesien oder Venezuela, wo die Eigentumsrechte nicht
immer wirklich geschützt sind. Bei Seabridge gibt es damit keine
Probleme mit Verstaatlichung.

Obendrein gibt es nur ein niedriges Rückschlagspotential. Das
Unternehmen stieg bei 8 Goldgebieten ein, als Gold bei 300 $ je Unze
stand und zahlte dafür weniger als 1 $ je Unze. Gut, bei 300 $ je Unze
konnten diese Vorräte nicht rentabel gefördert werden. Aber jetzt, bei
einem Goldpreis von mehr als 450 $ je Unze, werden diese Vorräte für
die großen Goldproduzenten immer interessanter.

Auch falls der Goldpreis zusammenbricht, gibt es kein Problem.
Seabridge sagt, die Kosten für diese Goldvorräte liegen bei etwa einer
Million $ im Jahr. Das sind 0,06 $ je Unze Gold im Jahr. Obendrein hat
Seabridge keine Schulden.

Eine Option auf Gold, die nie ausläuft

Die Aktie könnte weiter gut laufen. Als Gold unter 300 $ notierte,
wühlte Seabridge im Müll und kaufte Goldvorräte, für die die großen
Minengesellschaften mehr als 300 Millionen $ gezahlt hatten und sie
dann billig abstießen. Jetzt ist dieser Müll bei einem Goldpreis von
450 $ richtig werthaltig.

Wenn Rick Rule Recht hat und es richtig ist, auf Firmen zu setzen, die
Goldvorräte einkaufen, dann ist Seabridge als schuldenfreies
Unternehmen mit seinen ganzen Vorräten in Nordamerika und bei einem
Preis von 10 $ je Unze Gold schon eine Überlegung wert.

Die Aktie ist sehr volatil. Aber ich denke, als Option, die nie
verfallen wird, ist sie durch das Gold im Boden abgesichert. Sie kann
schnell 50 % steigen oder sich auch verdoppeln.

[valueinvestor]

Dr. Steve Sjuggerud und Rick Rule kenne ich dem Namen nach, scheinen größere Tiere im Gold Fan Club zu sein.
Jetzt erklärt sich auch dieser explosionsartige Anstieg von Kurs und Volumen Anfang Juli. Wenn Rule bei 2,65 empfohlen hat, steckt er dahinter. Irgendwann musste ja einer mal kommen, der diese Sau durchs Dorf der Anlegergemeinde treibt. Konradi (siehe Posting #1) hat es doch auch schon probiert. Wenn ein Guru die Fakten mit flotter Schreibe hinknallt, liest es sich besser, als wenn man sich den Krempel selber organisieren muss.

Irgendwie scheint das Papier gerade in eine neue Dimension hineinzuwachsen, die Umsätze sind erstaunlich hoch, der Kurs ebenso, fast könnte man meinen, sea wird langsam ernst genommen.

Ich erinnere mich an meine Vergleiche mit Goldoptionsscheinen weiter vorne im thread...

[schuh]

Es ist halt immer gut, wenn man so eine Aktie besitzt.

[valueinvestor]

lakonisch, aber voll tiefer Weisheit.
Respekt!

[valueinvestor]

500 Stück in Berlin zu 1,37??
Warum hat er mich nicht gefragt, ich hätte mindestens 1,38 gezahlt.

[valueinvestor]

Seabridge bohrt weiter. Interessant, dass die Aktienplatzierung zu Preisen über den Kursen der letzten Tage möglich war, der Kurs zog erst nach Bekanntgabe der Meldung an und ging ber die 7,25 Can$ hinaus. Der Chart sieht auch richtig Klasse aus (z.B. in #101).

Seabridge Gold Plans 15,000 Meter Drill Program for Courageous Lake

Proceeds to Fund Exploration Program at Courageous Lake
Toronto (Canada) — Seabridge Gold announced today that it will initiate a 15,000 meter core drill program at its 100% owned Courageous Lake project in the Northwest Territories beginning in February, 2006. The program is designed to expand gold resources at the FAT deposit and extend the estimated mine life in the recently completed Preliminary Assessment of the project (see September 21, 2005 News Release).

The current gold resource at the FAT deposit has been estimated using drill results south of section line 5200N. During 2005, exploration drilling by Seabridge successfully intersected the main mineralized zones of the FAT deposit 550 meters north of the known resource on section line 5750N (see North Extensions). The first objective of the 2006 program will be to drill the area between section 5200N and 5750N on 50 meter centers to define additional resources. The second objective is to increase the grade of the known resource by intersecting east-west trending structures which could account for the distribution of higher grade gold concentrations within the FAT deposit. Past drilling on the deposit was oriented in an east-west direction, limiting the potential to define and incorporate this structural control in the resource model. Drill hole CL-039, completed in 2005, was orientated north-south in order to cross one of these structures. Drill hole CL-039 intersected much higher grade mineralization than predicted in the resource model.

To help fund the 2006 drill program, Seabridge has arranged a private placement of 425,000 flow-through shares at $7.25 per share for gross proceeds of $3,081,250. The shares to be issued under this private placement will be subject to a four-month hold period. There will be no commissions or finder’s fees payable on this financing. Closing of this financing is subject to regulatory approval and completion of final documentation. No insiders of Seabridge are participating in this private placement.

[valueinvestor]

... und heute ein all time high an der Amex.

[valueinvestor]

Es ist so geil, recht zu bekommen.

[valueinvestor]

Es geht auch ohne 50.000 Postings...

Das nächste Bohrprogramm am Courageous Lake wird enorm wichtig für die Company. Mit 279 $/Unze sind die laufenden Förderkosten für das Projekt erstaunlich niedrig - nur musst du vorher eine Infrastruktur für 600 Millionen aufbauen. Das geht sicher nicht mit der Portokasse. Mit jeder Ausweitung der Resourcen verteilt sich dieser Betrag auf mehr zu förderndes Gold, die Gesamtkosten je Unze sinken und eine Realisierung rückt näher.

[valueinvestor]

Goldpreis 518$
Förderkosten 423$
Gold je Aktie > 0,5 Unzen
innerer Wert je Aktie 47,5$
70% Abschlag, um einen Major das Projekt schmackhaft zumachen ---> Fairer Preis 14,25 $
Kurs unter 7$

[valueinvestor]

Seabridge Discovers Large Gold/Silver Target on Golden Arrow Project

Drilling Planned in 2006 as Part of New Nevada Initiative
Toronto (Canada) — Seabridge geologists have discovered a 1,200 meter by 700 meter area of surface gold/silver mineralization on its 100% owned Golden Arrow project located in Nye County, Nevada. The 4,600 acre Golden Arrow project was one of 12 evaluated by Seabridge geologists in the Company’s 2005 Nevada exploration program.

In 2002, Seabridge staked more than 50,000 acres of claims in Nevada covering more than 30 known gold occurrences as the gold price began to rise. Many of these targets were identified in databases acquired by Seabridge from companies which had left the gold business during the 1990s. Seabridge evaluated this portfolio to determine which projects it would explore for its own account. Twelve were selected for surface exploration work in 2005 including geologic mapping, rock and soil sampling and geophysical surveys. From this work, two were selected for drilling by Seabridge in 2006, the Golden Arrow project and Four Mile Basin. Seven have been joint ventured to other parties.

Seabridge President and CEO Rudi Fronk said the new Nevada initiative is “part of an expanded exploration program which reflects the current gold price environment. In 2002, when we acquired a significant land position in Nevada, we anticipated that with a rising gold price it would become increasingly expensive to purchase advanced stage gold projects and that further resource expansion would need to come from exploration. We expect to spend more than $5 million in 2006 at Courageous Lake and in Nevada to expand our gold resource base.”

A zone of well developed silicic alteration has been identified in the southwest part of the Golden Arrow project. In the vicinity of this alteration zone, 29 rock samples were collected by Seabridge with gold concentrations from trace levels up to 9.95 grams per tonne gold and 246.9 grams per tonne silver. In addition, auger sampling was completed over the zone of silicic alteration and soil geochemical sampling was completed on the strike projection of this alteration zone. A primary target zone defined by alteration and gold geochemistry has an area of about 1,200 meters by 700 meters. A secondary target of 2,000 meters by 500 meters located to the north of the primary target has also been identified but results are indicative of thicker cover in this area and additional work is required to refine this target. For a complete report by Seabridge’s exploration team on the Golden Arrow project see http://www.seabridgegold.net/GoldArrowExplorUpdate.pdf.

An initial drill program consisting of 2,000 meters of reverse circulation drilling is planned for 2006.

Exploration activities at the Golden Arrow project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101.

[konradi]

Hi Value !

[valueinvestor]

Mal ein anderer Ansatz zur Bewertung: Dies wurde gerade über Cardero geschrieben:

Cardero geotechs tell us that the Baja, Mexico IOCG project looks very similar to the Candelaria IOCG district in Chile. There, the properties run .75 to 1.5 percent copper, and gold from .2 to .6 grams per tonne. If we use numbers in between, we get an economic profile in-situ looking something like this...

3 billion tons grading 1 percent copper = 30 million tons and at $4,200 per ton = about $126,000,000,000
3 billion tons grading .4 grams ton gold = 38.7 million ounces and at $525 ounce = 20,300,000,000
3 billion tons grading 50% iron = 1.5 billion tons at $48 ton (lower Brazilian grades) = 72,000,000,000


Total in-situ value under these suppositions = $218.3 billion dollars.

So, what is it really worth right now, like in proceeds from a sale? It`s worth what someone is willing to pay for it, assuming the deal is attractive to current shareholders.

How do we get to a quicky, ballpark number for talking purposes? Well, one rule of thumb is to apply a " typical" discount to the estimated in-situ value. We can observe from the market that very attractive deposits are often taken out at prices falling within 5 to 15 percent of in-situ value.

Da nehme ich doch gleich die Rückseite eines Briefumschlages:
0,5 Unzen je Aktie entsprechen 260 $ in-situ.
Davon mal eben 5 bis 15% et voila: Kursziel 13 bis 39$.

Hoffen wir mal, dass courageous lake als größtes noch unentwickeltes Goldvorkommen durch die weiteren Bohrungen in die Kategorie very attractive fat deposit gelangen kann (siehe auch #117)

[valueinvestor]

Fetter Anstieg auf 9,11 CA$
Bald zweistellig?

Nach meinem Kenntnisstand geschieht dies auch ohne das Zutun irgendwelcher Foren, lediglich Rick Rules Empfehlung gab die Initialzündung für Seabridge.

[valueinvestor]

Gestern geschlossen auf 9,45 CAD$ / 8,17 US$ Die erste Position habe ich bei 1,68$ / 1,45 Euro gekauft.
Damit ist seabridge das lukrativste Investment meiner Börsengeschichte (370%) - besser als die Zeichnungsgewinne bei ConSors und die 350%, die mir Dr Oetker bei Brau und Brunnen bescherte.

Spannend finde ich, dass die Explosion so geräuschlos von statten geht. Man findet nichts außer den News vom Unternehmen. Auch dieser Thread hat eine überschaubare Teilnehmerschaft. (15 mal gelesen heute)
Die 10 gr Gold je Tonne aus Nevada fand ich sehr ansprechend, aber eine direkte Reaktion darauf konnte man an der Börse nicht sehen.

[Pickering_Esq]

In der Ruhe liegt die Kraft.

[Schnueffelnase]

Was ist denn heute los?

[valueinvestor]

Das gleiche wie am Freitag.

[valueinvestor]

http://www.ameinfo.com/74172.html

Die Araber sinds!

Zitat:

The big names are well known, and easily researched on the Internet: Newmont Mining, Harmony, Gold Corp, Barrick Gold, and Placer Dome are some major gold mining companies to consider; and the least hedged of all, so that the share price moves up and down the most with the gold price is Seabridge Gold.

Newmont Mining, Harmony, Gold Corp, Barrick Gold, Placer Dome, Seabridge Gold - keine schlechte Liste, finde ich.

[valueinvestor]

und noch einer:

http://www.menafn.com/qn_news_story_s.asp?StoryId=115773

wieder aus den Arabischen Emiraten, diesmal vom 27.11. (der andere Artikel vom Wochenende)

Zitat:

Seabridge Gold (SA) is the stock most leveraged to bullion in the world. It was $0.60 cents four years ago. It`s price now is almost $7 on the AMEX. If gold goes to $550 per ounce next year, Seabridge doubles again.

This is not a prediction, it`s a mathematical certainty because SA is a high delta call option on gold with no expiry. If DGCX enables the gold investors of Dubai to trade and hedge their gold mining portfolios with its futures contract, it could transform the investment landscape in the UAE.

After all, Cisco Systems commands a greater market cap than the market cap of all gold and silver mining companies combined in the world.

Monish and I agree that gold and silver mining shares are the Cisco, Dells and Intels of the early 1990s. This is such a multiyear fabulous investment opportunity that DGCX could well sponsor a "Goldbug Investor`s forum" in Dubai to enable us all to exchange ideas and strategies.

Hätte man ja schon früher rausgooglen können.

[valueinvestor]

Toronto (Canada) — Seabridge Gold announced today that it has been added to the Gold Miners Index (AMEX:GDM) on The American Stock Exchange.

The Amex Gold Miners Index (GDM) is a modified market capitalization weighted index comprised of publicly traded companies primarily in the gold and silver industry. The Index divisor was initially determined to yield a benchmark value of 500.00 at the close of trading on December 20, 2002. The Index includes common stocks and ADRs trading on major U.S. exchanges.

Seabridge Gold President and CEO Rudi Fronk said inclusion in the Amex Gold Miners Index "reflects the growing liquidity and market capitalization of our Company. This is further confirmation of our value creating strategy which has focused on significant gold ownership per common share."

all time high

[valueinvestor]

schon wieder ich

In a Research Note dated December 20, 2005 Dutton Associates changed their rating to a strong buy and raised their one-year target price for Seabridge Gold to US$16.50 per share from a previous rating of buy and
target of US$9.45. A link to this Research Note is as follows:

http://www.jmdutton.com/research/sa/notes/sa_note_122005.pdf

[GeldkommtzuGeld]

an dieser Stelle danke value. Hast Deinem Namen alle Ehre gemacht. Habe heute 1/3 der Position verkauft. Mach weiter so.

[valueinvestor]

Ist noch keiner dran gestorben, den Einsatz vom Tisch zu ziehen.
Ich sehe meine Sea Position als Versicherungspolice gegen den Zusammenbruch der US Ökonomie an. Das hat mich dieses ziemliche Jammertal zu Beginn des Jahres überstehen lassen. Aber lustig ist es schon, wenn das Papier mit über 10% Gewichtung das fetteste im Depot ist.
Jeder Goldpreisanstieg um 10$ erhöht den Wert des Goldes von Sea um 5,3$. Bei allgemein inflationären Tendenzen wird sicher auch die Förderung teurer. Hier allerdings die Chance, durch Exploration am Courageous Lake die Fixkosten je Unze deutlich zu senken.
JM Duttons Kurszielberechnung kann man extrapolieren:
Je 50$ Preisanstieg bei Gold 7$ Anstieg im Kurs. Der Wert der Option würde dagegen um 10x5,3$=53 $ steigen. Das sind die Dimensionen.
Und was passiert, wenn ein Abbau tatsächlich realistisch wird? Bei Gold 650?
Wann werden die Großen schwach?

[konradi]

.
http://www.jmdutton.com/research/sa/notes/sa_note_011706.pdf



Gruß an value - K.

[konradi]

Funds Managed by Friedberg Mercantile to Sell Seabridge Shares
Tuesday January 17, 7:00 am ET


TORONTO, CANADA--(CCNMatthews - Jan. 17, 2006) -
Seabridge Share Price Appreciation Exceeds Asset Allocation Limits

Seabridge Gold Inc. (TSX VENTURE:SEA - News; AMEX:SA - News) has been advised that three fixed income funds managed by Friedberg Mercantile Group Ltd. have filed Notices of Intention to Distribute Securities disclosing that they intend to divest of as many as 573,000 common shares of Seabridge. Friedberg Mercantile has advised Seabridge that it is required to sell these shares over the next several months in order to bring the Funds back into compliance with provisions limiting the Funds to a 5% exposure to equities and to comply with regulatory requirements. Because the Funds are managed by Friedberg Mercantile Group, their shares of Seabridge are reported as part of the control position in Seabridge of Albert D. Friedberg, who controls Friedberg Mercantile Group and Pan Atlantic Bank and Trust Ltd., Seabridge`s largest shareholder.

The three fixed income Funds own 1,050,000 common shares of Seabridge in total. Seabridge shares have appreciated significantly recently, bringing their value well above the 5% limitation on equity holdings in each of these Funds. Pan Atlantic Bank and Trust owns 5,929,652 common shares of Seabridge and Albert Friedberg personally owns 43,400 shares of Seabridge.

"The sale of shares by these three funds in no way affects the Seabridge position held by Pan Atlantic or myself. As we announced on September 29, 2005, Pan Atlantic intends, subject to market conditions, to acquire additional shares in Seabridge for investment purposes," said Albert D. Friedberg, President of Friedberg Mercantile Group and controlling shareholder of Pan Atlantic.

Seabridge has acquired a 100% interest in eight North American gold projects, subject to earn-in rights of up to 65% at its Kerr-Sulphurets project and up to 62.5% at its Quartz Mountain project held by potential partners. For a breakdown of the Company`s mineral resources by project and resource category please see http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Grassy Mountain, Kerr-Sulphurets and Hog Ranch projects, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Statements relating to the estimated or expected future production and operating results and costs and financial condition of Seabridge, planned work at the Company`s projects and the expected results of such work are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company`s projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company`s projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company`s Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2004 and in the Company`s 20-F filed with the U.S. Securities and Exchange Commission (available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and opinions of the Company`s management or its independent professional consultants on the date the statements are made.

ON BEHALF OF THE BOARD

"Rudi Fronk," President & C.E.O.

The TSX-V Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Rudi P. Fronk
Seabridge Gold Inc.
President and C.E.O.
[phone]
[phone] (FAX)
[e-mail]
www.seabridgegold.net

[konradi]

.

http://www.seabridgegold.net/Blackmont.pdf

.

[konradi]

siehe Seite 15 sollte ich noch hinzufügen

[konradi]

interessant: http://www.seabridgegold.net/Blackmont.pdf

[Schnueffelnase]

Was mich wundert: Sogar meine Depotleichen aus dem Minensektor steigen, nur Seabridge fällt. Was ist da los?

[Pickering_Esq]

Am 25.1. hat die DAB alle meine Seabridge ausgebucht und sofort wieder eingebucht.
Das ist selbst bei diesem trotteligen Laden irgendwie eine Merkwürdigkeit.

Daß die Aktie zur Zeit ein bißchen schwächelt, läßt sich auch nicht bestreiten.

Ob da irgendwelche unangenehmen oder angenehmen News unterwegs sind?

[Pickering_Esq]

Oder spielt Friedberg da irgendwie Elefant im Porzellanladen?

[valueinvestor]

Die sind ohne Luft holen von 2 auf 10 gerauscht - da ist eine kleine Konsolidierung ganz normal.

[konradi]

Der Grund ist doch banal: Friedberg Mercantile muß aufgrund der 5 Prozentregel 500.000 Aktien verkaufen. Und dafür müssen erstmal Käufer gefunden werden.

[valueinvestor]

ist das schon der Ausbruch aus der Konsolidierung?

[konradi]

@ value beten hoffen glauben ...

als sorgfältig rechercjierender Investor dürfte Dich auch diese Aktie interessieren:

http://aktien.onvista.de/snapshot.html?ID_OSI=175458&SEARCH_…

Gruß Konradi

[valueinvestor]

@ konradi Fakten, Fakten, Fakten!

TORONTO, CANADA, Feb 7, 2006 (CCNMatthews via COMTEX) -- Seabridge Gold (CA:SEA) (SA) announced today that it is mobilizing four drill rigs for a 15,000 meter core drill program at its 100% owned Courageous Lake project in the Northwest Territories. Drilling is expected to commence in the next week. The program is designed to expand gold resources at the FAT deposit and extend the estimated mine life in the Preliminary Assessment of the project completed last year (see http://www.seabridgegold.net/NSept21_05.pdf).

The current gold resource at the FAT deposit has been estimated using drill results south of section line 5200N. During 2005, exploration drilling by Seabridge successfully intersected the main mineralized zones of the FAT deposit 550 meters north of the known resource on section line 5750N (see http://www.seabridgegold.net/Images/CL-NorthExtensions2005.j… The first objective of the 2006 program will be to drill the area between section 5200N and 5750N to define additional resources. This zone has the potential to extend the length of the deposit by almost 25%.

The second objective of the 2006 program is to increase the grade of the known resource by intersecting east-west trending structures which could account for the distribution of higher grade gold concentrations within the FAT deposit. Past drilling on the deposit was oriented in an east-west direction, limiting the potential to define and incorporate this structural control in the resource model. Drill hole CL-039, completed in 2005, was orientated north-south in order to cross one of these structures. Drill hole CL-039 intersected much higher grade mineralization than predicted in the resource model.

The final objective of the 2006 program is test for the continuity of gold mineralization to the west of the main gold bearing structures. Drilling on the west part of the resource has been limited to date, consequently the resource model does not attribute significant gold to these areas. Seabridge geologists believe that gold mineralization to the west could add significant resources to the deposit if continuity of these zones along strike can be demonstrated. In addition, these zones could allow for a wider pit dimension which would extend project life by providing access to significant gold resources that currently fall below the designed pit limits.

Seabridge`s Courageous Lake project covers 53 kilometers of the Matthews Lake Greenstone Belt which hosts the 2 kilometer long FAT deposit. The FAT deposit contains an estimated 3.72 million ounces in the measured and indicated categories (50.4 million tonnes grading 2.30 grams of gold per tonne) plus an additional estimated 5.23 million ounces in the inferred category (77.4 million tonnes grading 2.10 grams of gold per tonne).


Das wird unglaublich wichtig, weil die Fixkosten für den Minenaufbau auf mehr Unzen verteilt werden und die eigentlichen laufenden Förderkosten gar nicht so teuer sind.

[GeldkommtzuGeld]

wir haben jetzt 30 % in 7 Wochen korrigiert. Heute knapp durch die 100 Tage Linie gerauscht.

Wird eine Aufstockung der Position jetzt empfohlen ?

[valueinvestor]

Ich lasse mal Paul van Eeden die Frage beantworten:

Gold fell $21 an ounce on Tuesday only to bounce back $13 on Thursday. I was quite happy when the gold price fell on Tuesday, thinking about all the stocks that were declining in price. During a bull market such downturns are profitable opportunities to snap up more shares of your favorite companies. That decline in the gold price was short lived and Thursday`s bounce suggests that this week`s opportunity had come and gone. But, as I have been saying for a while, gold price volatility is going to increase. I expect to see larger one-day, one-week and one-month changes in the gold price than we have seen to date -- both up and down.

I received an email this week from a subscriber quoting a prominent banker who suggested that the gold price would decline to around $350 an ounce in the medium term. The subscriber wondered how to reconcile that with the claims of pundits who say gold is going to $1,000 or more. That is a good question.

I would pay more attention to the reasoning behind the forecast than to the number itself. Does the reasoning make sense? How does it fit in with my paradigm and opinion of what is going on? Does it present a new idea I did not think of?

No one can predict the future, and no economic model comes with a money-back guarantee. In the case of the gold market, you have to decide whether you believe gold is going up or down and be comfortable with your knowledge of why. It then becomes your opinion, not somebody else`s, and your responsibility if you act (or fail to act) on your opinion. With time and exposure to new data and ideas, opinions (hopefully) evolve and may of course change, but they remain your own.

If you believe, for whatever reason, that the gold price is going higher in the medium to long term, and then the gold price declines, you can either sit back and wait for the price to resume its upwards course or you can average down the cost basis of your investments. If you believe that the gold price is ultimately going to $1,000 an ounce, does it matter if it declines from $570 an ounce to $450 an ounce?

Of course, if you are not convinced that gold is going to $1,000 then you might panic and sell your gold investments during a downturn, not only potentially taking a loss but also eliminating the possibility of gains should the gold price recover and ultimately reach your target.

On the other hand, if you believe that the gold price will not reach $1,000 an ounce and see the gold price rally like it has, then you may be inclined to take profits, or even sell short.

There are both bulls and bears out there, and as the gold price increases (or decreases) their numbers grow and their conviction grows. That is the fundamental reason why volatility increases.
I believe the gold price is going higher and therefore I am not alarmed when the price falls. Instead, I view it as an opportunity. But that does not mean you should. Nor does it mean the gold price will rise. What it does mean is that if the gold price falls dramatically and I lose a whole bunch of money I have only myself to blame.

Paul van Eeden

Fettdruck von mir, Fat Deposit bei sea!

[konradi]

wobei ich doch erstaunt bin, das es die Minen diesmal voll mit runtergerissen hat. Ich hatte nur mit einem "gedämpften" Rutsch gerechnet. Aber im April sind unsere Tränen wieder getrocknet ...

http://quote.bloomberg.com/apps/news?pid=10000080&sid=aDErSg…

[valueinvestor]

Courageous Lake:
8,5 Jahre a 545.000 Unzen = 4.632.500 Unzen

Fully Diluted Number of Shares 33,706,185

Unzen je Aktie 0,1374

Operating Costs 279$ je Unze

Initial Capital Costs 630 Millionen $

Capital Costs je Unze 136$

Gesamtkosten je Unze 415$

Bei Goldpreis 550: Gewinn je Aktie über die Laufzeit der Mine: (550-415)*0,1374 = 18,55$

Gelingt im gerade begonnenen Bohrprogramm die Ausweitung der Resourcen um 25%, sinken die Capital Costs je Unze auf 109$, die Gesamtproduktionskosten auf 388$.
Zusätzlich würde die Unzen je Aktie zusätzlich um 0,035 steigen.
Rechnung neu:
(550-388)* 0,1718 = 27,83 $


Brandneu:
February 21, 2006
Seabridge Gold Identifies New Target at Four-Mile Basin

2006 Drill Program Designed to Test High Grade Vein Potential
Toronto (Canada) — At its 100% owned Four-Mile Basin property in Nevada, Seabridge Gold’s exploration team has identified a very large, gold-bearing hydrothermal system which was formed during the same period as other major deposits in the Walker Lane Trend such as Round Mountain and Goldfields.

The Four-Mile Basin project consists of 121 unpatented mining claims (about 2,420 acres) located in Nye County, Nevada staked by a Seabridge subsidiary in 2002.

The hydrothermal system remains intact within the basin of a collapsed caldera complex covered by landslide breccia wrongly identified by previous operators as recent colluvium. Surface mapping and sampling by Seabridge during 2005 have traced part of an arcuate ring fault along the edge of the basin which may have been the conduit for precious metals in the system. The fault appears to host a massive quartz vein structure which is manifested at the surface as silicic sinter and was drilled by a previous operator at a shallow depth, well above the probable zone of gold concentrations.

Seabridge Senior Vice President Bill Threlkeld notes that previous work on the property appears to have focused on a Round Mountain style disseminated target. "Our geological interpretation points to the potential for a higher-grade Goldfields style vein deposit within the ring fault. At surface we see clear indications that we are very high within the system and that the zone of greatest interest should be at least 250 meters below surface and at least 150 meters below previous drilling designed to find a disseminated style of deposit. We plan to test this concept this summer with a three hole drill program of approximately 3,200 meters."

Last summer, Seabridge geologists commenced an intensive surface mapping and sampling campaign to understand the geology and locate possible sources of anomalous gold occurrences in the area. A total of 878 soil and rock chip samples identified the ring fault structure as a possible source for gold concentrations. A follow-up airborne magnetic survey found that the ring fault produces a discontinuous but discrete negative magnetic response helpful in fixing its location and establishing drill targets. For a full report see www.seabridgegold.net/Four-Mile.pdf

In 2002, Seabridge staked more than 50,000 acres of claims in Nevada covering more than 30 known gold occurrences as the gold price began to rise. Many of these targets were identified in databases acquired by Seabridge from companies which had left the gold business during the 1990s. Seabridge evaluated this portfolio to determine which projects it would explore for its own account. Twelve were selected for surface exploration work in 2005 including geologic mapping, rock and soil sampling and geophysical surveys. From this work, two were selected for drilling by Seabridge in 2006, the Golden Arrow project and Four-Mile Basin. Seven have been joint ventured to other parties.

Exploration activities at the Four-Mile Basin project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101.

[konradi]

.

http://www.seabridgegold.net/2005-Q4.pdf

[valueinvestor]

Antwort auf Beitrag Nr.: 20.942.412 von konradi am 24.03.06 19:02:38

Diese Aussagen finde ich klasse!

"Seabridge measures its performance in terms of gold ownership per common share. Project acquisitions
and exploration programs are carefully chosen to ensure that share dilution required to fund these
activities is more than offset by additional ounces of gold resources. In contrast to most other gold companies,
Seabridge’s gold ownership per share has risen for six successive years, providing its shareholders
with exceptional leverage to a rising gold price.

(...)

Our philosophy at Seabridge is to provide investors with participation in gold ownership and gold
flow as a hedge against other asset classes and currencies. Our ultimate objective is to obtain gold flow
from our projects for Seabridge’s shareholders, effectively turning cash into gold, contrary to the gold
industry’s current practice of converting gold into cash flow.

(...)

Our objective is to
partner Courageous Lake with one of these (major) companies for the development of this project at the
appropriate time. As Canada’s largest undeveloped gold deposit with a projected annual output of more
than 500,000 ounces, Courageous Lake would seem to be the type of project that major producers need.

[valueinvestor]

Antwort auf Beitrag Nr.: 20.947.029 von valueinvestor am 25.03.06 14:16:22

Sea ist jetzt in zwei Tagen um meinen Einstiegspreis gestiegen.

In Posting 150 sieht man im Chart im Juli eine schöne Ausbruchslücke. Unmittelbar davor gab es einen Tag mit starkem Kursanstieg. Am Tag vor der Lücke dann einen Kurssprung von zusätzlichen 33% - aber nur mit geringer Stückzahl und im after hour trading, weshalb man die Lücke im Chart sieht.
-----------------------------------------------------------------
Zitat:
#91 von valueinvestor 07.07.05 10:42:49 Beitrag Nr.: 17.163.374

Blindgänger oder Explosion?

Im after hours trading wurde gestern laut bigcharts in New York 3,51$ bezahlt, ein plus von 33%. Umsatz 3.200 Stück
Nachrichten habe ich keine gefunden. Ist da ein Greenhorn skalpiert worden oder gibt es heute die große Sause?
------------------------------------------------------------------

Warum ich mit ollen Chartkamellen langweile? Gestern ist im regulären Handel Sea von 8,02 auf 8,93 gestiegen, ein Plus von 11,35%. Nachbörslich wurden aber nochmal 900 Stück zu 9,88 gehandelt; in der Summe also ein Plus von 23%. Man wird sehen, ob diese 9,88 ein Zahlendreher sind oder ob wir eine weitere Sause erleben.

Ich vermute, der jüngste Sprung bei den Goldminen hat damit zu tun:

US-Immobilienmarkt zeigt Risse
[Von ftd.de, 10:22, 27.03.06] Der dramatische Einbruch der Verkäufe neuer Wohnhäuser in den USA hat am Wochenende neue Spekulationen um ein unmittelbares Ende des US-Immobilienbooms hervorgerufen. Der Boom hat bislang die Konjunktur gestützt.

"Es deutet inzwischen viel darauf hin, dass der Boom bei den Wohnimmobilien bald vorbei ist", sagte David Milleker, US-Experte der Dresdner Bank. Ähnlich äußerte sich Jim O'Neill, Chefvolkswirt der Investmentbank Goldman Sachs. "In der zweiten Jahreshälfte wird die US-Wirtschaft wegen der Abkühlung am Immobilienmarkt einen spürbaren Dämpfer erhalten." Beide Volkswirte unterstrichen allerdings, dass die Wahrscheinlichkeit eines dramatischen Konjunktureinbruchs oder gar einer Rezession gering sei. Wie das US-Handelsministerium am Freitag mitgeteilt hatte, sind im Februar 1,08 Millionen Neubauten verkauft worden, 10,5 Prozent weniger als im Vormonat. Der Einbruch war dabei der größte seit fast zehn Jahren. Auch das absolute Niveau war extrem niedrig: So wenige Häuser wie im Februar hatten zuletzt im Mai 2003 den Eigentümer gewechselt. Gleichzeitig stieg der Bestand an unverkauften Häusern weiter. Das Verhältnis unverkaufter Immobilien zu den Umsätzen stieg auf 6,3, den höchsten Wert seit 1996.
Der Immobilienboom war in den vergangenen Jahren eine wichtige Stütze der US-Konjunktur. Zum einen hatte der kräftige Anstieg der Bauinvestitionen für Wohnhäuser das Wachstum direkt gestützt. Zum anderen hatten die US-Amerikaner angesichts steigender Hauspreise ihre Hypotheken aufgestockt und das Geld in den Konsum gesteckt. "Das Ende des Immobilienbooms wird in den kommenden Quartalen den Privatverbrauch belasten", sagte O'Neill. Wohnungsbau und der Konsumschub aus der Hypothekenaufstockung habe noch vor einem Jahr das Wirtschaftswachstum um mehr als einen Prozentpunkt erhöht. Zum Jahresende 2006 werde der Immobilienmarkt nun in ähnlichem Umfang das Wachstum belasten. "Preisveränderungen brauchen etwa ein halbes Jahr, bis sie tatsächlich einen Einfluss auf die Bauaktivität haben", sagte Milleker.
"Die Wirtschaft kann den Wachstumsdämpfer allerdings verkraften, weil die Unternehmen wieder mehr investieren", so O'Neill. Als Indiz für eine anhaltend kräftige Entwicklung der Investitionen wertete der US-Experte der Commerzbank, Gerald Müller, auch den Trend bei den Auftragseingängen. Nach Angaben des Handelsministeriums gingen im Februar 2,6 Prozent mehr Bestellungen für langlebige Wirtschaftsgüter ein als im Vormonat, die Bestellungen für Kapitalgüter stiegen um 7,8 Prozent. O'Neill zufolge ist trotz des Endes des Immobilienbooms für das kommende Jahr so noch mit einem Wirtschaftswachstum von 2,6 Prozent zu rechnen, nach 3,4 Prozent 2006. Auch die Bauwirtschaft muss Milleker zufolge mit dem Ende des Wohnungsbooms nicht unbedingt in eine Krise rutschen. "Seit Ende der Rezession haben die Unternehmen sehr wenig in neue Gebäude investiert", sagte Milleker. Angesichts der kräftigen Investitionen in neue Ausrüstungen über die vergangenen beiden Jahre sei zu erwarten, dass bald auch wieder neue Fabriken gebaut würden. "Die Chancen sind gut, dass die Aufträge aus dem Wirtschaftsbau kommen, wenn der Wohnungsbau lahmt."

[valueinvestor]

Diesmal war es ein Zahlendreher oder eine unlimitierte Order...

Kleinviehmeldung:


TORONTO, ONTARIO--(CCNMatthews - March 22, 2006) - The Board of Directors of Quincy Energy Corp. (TSX VENTURE:QUI)(OTCBB:QCYE)(FRANKFURT:QIY) is pleased to announce the mobilization of field crews and equipment for commencement of a reverse circulation drilling program on the Millers Project located in Esmeralda County near Tonopah, NV. It is anticipated that approximately 4-6 holes for a total of 4,000 feet of drilling will be completed to test for high-grade, bonanza-type gold mineralization at depth beneath auriferous veins exposed on the surface.

Millers Property

This road accessible property is in an area of numerous small prospects dating back to the 1880s. Dickenson-Nevada held the property in the late 1980s and conducted extensive soil sampling that identified a large anomalous area in excess of one mile in length. Six holes totalling 2,470 feet (753 m) were drilled ranging from 355 feet (108 m) to 505 feet (154 m) in depth. This drilling targeted mineralization in the hanging wall of the veins and as a result, only two of the holes intersected vein material. Drill hole MS-1 intersected the quartz veining at about 115 feet with a high assay of 0.03 opt; whereas drill hole MS-2 hit a 40-foot thick zone of chalcedonic veining at 160-200 feet, which ran 0.01 opt.

A large chalcedonic, pyrite-bearing vein has been traced along surface on the property for more than a mile. This vein ranges from 5 to more than 30 feet (9.1 m) in width and displays classic high level, low temperature quartz textures. The main vein is the largest of at least 5 parallel to sub-parallel veins occurring in a broad vein zone measuring up to 400 feet (122 m) in width. The veins cut a number of rock types including Jurassic granite and sedimentary and metasedimentary rocks of Cambrian age intruded by and partially covered by a variety of Tertiary rhyolitic intrusions and volcanic rocks.

Rock chip sampling by Quincy geologists in 2004 returned assays that ranged from less than 0.005-4.65 ppm gold and averaged 0.30 ppm from 56 grab samples collected to characterize quartz-carbonate vein material exposed on the southern portion of the claims. Fluid inclusion work commissioned by Quincy on three vein samples resulted in confirmation of the boiling process at an interpreted maximum depth of 180 m below the paleo-water table. This compares favourably with field observations of vein textures and suggests a boiling zone could be present at depths of from 300 (92 m) - 700 feet (213 m) below the surface. The boiling zone would be the preferred target for bonanza style gold mineralization and will be the target of the current drilling.
In January 2004 Quincy entered into a Mining Lease and Agreement with Pacific Intermountain Gold Corporation, a subsidiary of Seabridge Gold (AMEX:SA)(TSX VENTURE:SEA), pursuant to which Quincy leased 21 unpatented lode claims located in Esmeralda County known as the "Millers Property". Under the Mining Lease and Agreement, Quincy is to pay a series of escalating annual advance royalty payments capped at $50,000 per year and perform a series of annual work requirements capped at $100,000 per year until commencement of commercial production. The property is subject to a sliding scale NSR royalty ranging from 2% for gold prices under $300.00/oz to 5% for gold prices in excess of $500.00/oz. Advance royalty payments are credited against the sliding scale NSR royalty.
In January 2004 Quincy entered into a Mining Lease and Agreement with Pacific Intermountain Gold Corporation, a subsidiary of Seabridge Gold (AMEX:SA)(TSX VENTURE:SEA), pursuant to which Quincy leased 21 unpatented lode claims located in Esmeralda County known as the "Millers Property". Under the Mining Lease and Agreement, Quincy is to pay a series of escalating annual advance royalty payments capped at $50,000 per year and perform a series of annual work requirements capped at $100,000 per year until commencement of commercial production. The property is subject to a sliding scale NSR royalty ranging from 2% for gold prices under $300.00/oz to 5% for gold prices in excess of $500.00/oz. Advance royalty payments are credited against the sliding scale NSR royalty. The pending work program is intended to satisfy Quincy's work requirements (excluding property holding costs) until January 23, 2007.

[valueinvestor]

TORONTO, CANADA, Apr 3, 2006 (CCNMatthews via COMTEX) -- Independent 43-101Technical Report to be Filed

Seabridge Gold announced today that it has reached agreement with Hecla Mining Company to acquire Hecla's 100% interest in the Noche Buena gold project located in Sonora, Mexico for US$4,350,000 in cash. The transaction is expected to close within 30 days.

During the past 90 days, Seabridge has conducted technical, legal and environmental due diligence on the project including commissioning an independent 43-101 Technical Report on the project by Resource Modeling Inc. ("RMI" ) of Tucson, Arizona. RMI reviewed all available project data, including historic resource estimates, and concluded that the information was sufficient to state a mineral resource under National Instrument 43-101. The following table provides RMI's estimate of gold resources at Noche Buena as of March 31, 2006:

Noche Buena Gold Resources at 0.30 gram per tonne cut-off

------------------------------------------------------------
Indicated Inferred
------------------------------------------------------------
Tonnes Grade Ounces Tonnes Grade Ounces
(000's) (g/T) (000's) (000's) (g/T) (000's)
------------------------------------------------------------
21,867 0.81 569 14,031 0.68 308
------------------------------------------------------------


Seabridge President and CEO Rudi Fronk noted that the Noche Buena project meets all of the Company's acquisition criteria. "The project has an existing high-quality gold resource located in North America which meets 43-101 standards, it has low holding costs and exploration up-side. Under the terms of the acquisition, Noche Buena is clearly accretive in that it increases gold ownership per Seabridge common share."

Noche Buena is situated in the Sonora desert of Northwest Mexico and lies within a northwest structural unit that runs into southern California and includes current and past gold producers such as Mesquite, American Girl, Picacho and La Herradura. The Noche Buena project consists of two separate mining concessions comprising approximately 1,000 hectares which expire in 2052. Access to the concessions has been granted to Seabridge by the surface owner. The project is accessed by way of Mexico paved Highway #2 between Caborca and Sonoyta, Mexico and then by a 27 kilometer dirt road directly to the site.

The Noche Buena project was first explored by USMX from 1992 through 1994 including 51 reverse circulation drill holes totaling approximately 4,800 meters. In 1995, USMX granted Kennecott an option on the project. From 1995 through 1997, Kennecott continued exploration activities at Noche Buena including drilling 44 reverse circulation drill holes totaling approximately 5,500 meters. In August 1997, Kennecott terminated its option and the project reverted to USMX. In March 1998, Hecla optioned the project from USMX which then went into receivership in May 1998. In December 1998 Hecla Mining purchased a 100% interest in the Noche Buena project.

From 1998 through 1999, Hecla completed 102 core drill holes totaling approximately 12,500 meters and 319 reverse circulation holes totaling approximately 34,500 meters. From 2000 through 2003, Hecla did not conduct any significant work on the project due to the low gold price environment. In 2004, Hecla drilled an additional 86 core holes totaling approximately 9,200 meters and took approximately a 400 tonne bulk sample from an exploration shaft for metallurgical test work. The metallurgical test work on the bulk sample was conducted by the independent firm of Kappes, Cassidy & Associates of Reno, Nevada, and yielded results consistent with other operating heap leach mines. In their report, Kappes, Cassidy projected a 61% recovery rate for a run-of-mine, heap-leach scenario and a 72% recovery rate for a two-stage crushing scenario.

RMI has reviewed the electronic assay data and has determined that that it is suitable for the estimation of gold resources. RMI has opined that there are adequate QA/QC data to support all of Hecla's assay data and that RMI's comparisons between Hecla's and USMX's data have demonstrated that the USMX data are also suitable for the estimation of resources. Mineralization at Noche Buena tends to occur in thin, often discontinuous zones within sheeted quartz veins. The RMI resource model is based on an inverse distance cubed estimation method that utilized gold-grade envelopes that were designed by Seabridge geologists to constrain the estimate gold resources. Based on metallurgical test results and RMI's experience with similar heap leach projects, RMI established a 0.30 gram per tonne cut-off grade appropriate for resource calculations. RMI classified indicated versus inferred resources at Noche Buena based on distance to data.

[LaraSoft]

Antwort auf Beitrag Nr.: 21.070.110 von valueinvestor am 04.04.06 15:57:26

Hallo Leute,

hab gerade ne news von heute gefunden, ich stell sie Euch einfach mal rein:


Seabridge Gold Inc.

172 King Street East, 3rd Floor; Toronto, Ontario M5A 1J3
Telephone: [phone] Facsimile: [phone]
News Release
Trading Symbols: TSX-V: SEA FOR IMMEDIATE RELEASE
AMEX: SA April 4, 2006

Seabridge Gold Arranges Cdn$8.4 Million Financing
Funds to be Used for Noche Buena Project
Toronto, Canada… Seabridge Gold announced today that it has arranged a Cdn$8,443,750 private
placement financing consisting of 875,000 common shares at Cdn$9.65 per share. The shares to be issued
under this private placement will be subject to a four-month hold period. Closing of this financing is
subject to regulatory approval and completion of final documentation. There are no commissions or
finders fees payable on the financing.
Insiders of the Company have subscribed for 205,000 shares of the financing, including 161,500 shares
by its largest shareholder, Pan Atlantic Bank and Trust Ltd. Pan Atlantic is beneficially owned and
controlled by Albert D. Friedberg.
Proceeds from the financing will be used for the acquisition of the Noche Buena gold project (see news
release dated April 3, 2006) and for general working capital requirements.
The shares to be placed in the U.S. will not be registered under the U.S. Securities Act of 1933, and they
may not be offered or sold in the U.S. absent registration or an applicable exemption from the registration
requirements of the Securities Act.
Seabridge has acquired a 100% interest in eight North American gold projects, subject to earn-in rights of
up to 65% at its Kerr-Sulphurets project and up to 62.5% at its Quartz Mountain project held by potential
partners. For a breakdown of the Company’s mineral resources by project and resource category please
see http://www.seabridgegold.net/Resource.htm.
All resource estimates reported by the Company, with the exceptions of the historic estimates for the Grassy Mountain,
Kerr Sulphurets and Hog Ranch projects, were calculated in accordance with the Canadian National Instrument 43-101
and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the
requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not
have demonstrated economic viability.
Statements relating to the estimated or expected future production and operating results and costs and financial condition
of Seabridge, planned work at the Company’s projects and the expected results of such work are forward-looking
statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts and are generally, but not always, identified by words such as the
following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions.
Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur.
Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be
forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is
actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions
that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially from those reflected in the forward-looking statements,
including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely
manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the
possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the
Company’s projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of
gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated
- 2 -
difficulties or interruptions; the possibility of environmental issues at the Company’s projects; the possibility of cost
overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws
and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties,
including those described in the Company’s Annual Information Form filed with SEDAR in Canada (available at
www.sedar.com) for the year ended December 31, 2005 and in the Company’s 20-F filed with the U.S. Securities and
Exchange Commission (available at www.sec.gov/edgar.shtml).
Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management or its
independent professional consultants on the date the statements are made.

ON BEHALF OF THE BOARD
"Rudi Fronk," President & C.E.O.
For further information please contact:
Rudi P. Fronk, President and C.E.O.
Tel: [phone] • Fax: [phone]
Visit our website at www.seabridgegold.net Email: [e-mail]
The TSX-V Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.

[valueinvestor]

Kleine Rechnung:
527.409 Aktien wurden begeben, um 569.000 Unzen indicated und 308.000 Unzen inferred zu bekommen also weit über eine Unze je Aktie. Mal sehen, mit welchen Förderkosten dort zu rechnen ist.

[valueinvestor]

nur mal so am Rande bemerkt:
Nach der Optionspreistheorie müsste Seabridge heute um 8 Dollar steigen - der innere Wert tut es zumindest - 96 Dollar.

[valueinvestor]

Es wäre auch wieder Zeit für ein Update von jm dutton:
Auf Basis des Goldpreises von 550$ hatten sie im Dezember ein Kursziel von 16,50 $. Ich fände sea mit einer Bewertung von 30% des inneren Wertes = 25 bis 30$ fair bezahlt.

[valueinvestor]

Da isses schon bzw war es schon, Datum 13.4.

JM Dutton

Within the JMD universe of oil and gas and mining companies, Seabridge is unique.
Seabridge is not a development stage company; however, it is a development company developing gold resources on each of its
several projects. There are no current revenues; and as part of SA's strategy, there never will be. When Seabridge Gold reported 2005
results a few days ago, management commented on several highlights of the year which were not lost on investors who bid the shares
up 15 fold over the Toronto Stock Exchange Gold Index from 2002 through 2005. Condensed the 2005 highlights were:
1. Courageous Lake--Canada's largest undeveloped gold deposit project received an independent engineering study to the prefeasibility
level indicating a mine life of 8.5 years with 545,000 ounces of gold production annually at a cost per ounce of $423.
Assuming a $550 gold price, the indicated value of gold is $553 million. Seabridge plans additional drilling at Courageous Lake to prove
up more resource and add four more years to the mine life.
2. After a major drilling program by Falcon Bridge, Kerr-Sulphurets in British Columbia indicates a significant gold resource of 3.4 million
ounces and 2.7 billion pounds of copper.
3. Two new drilling targets that have been identified in Nevada to add to the 30 already there.
Because Seabridge is not a mining company, but a resource holding company, deficits will continue. However, gold resources backing
each share continue to grow at an impressive rate. The measurement yardstick for Seabridge is unique among the gold company group.
The strategy is to add gold resources at significant rates to offset the share dilution required to fund each project. Gold ownership per
share has increased for six successive years. This unique strategy of turning cash into gold has propelled the stock from a low of $3.22
in August 2005 to the current $9 level.
Within the JMD universe of oil and gas and mining companies, Seabridge is unique. Structurally and philosophically the company is
focused on gold ownership and gold flow, which we believe is the best way to play the rising commodity price of gold. It is even better in
our view than gold ETF because of the exposure investors have to various projects and the ability of this Company to prove up
resources--turning indicated and measured resources into proven ounces. Following through on this strategy, Seabridge announced
Monday its acquisition of the Noche Buena gold project from Hecla Mining. The project holds approximately 850,000 ounces of gold in
the Indicated and Inferred categories. The acquisition price was a total of $4.35 million and further demonstrates the "buy low/prove-itup"
philosophy. The project is high quality, and Seabridge believes there is expansion potential. Within 20 miles of the site there is
existing infrastructure and mines in the general area are profitable. As a result of the acquisition and our forecast for gold prices above
$600/oz this year touching $700 at some point during the year, our $16.40 NAV is elevated to a preliminary $22.00 while our short-term
price target is under review. We reiterate our Strong Buy recommendation.

[valueinvestor]

Ach ja, irgendwann in den nächsten 4 bis 8 Wochen könnten auch die Bohrergebnisse vom Courageous Lake eintrudeln. - Wenn das Ziel, die Minenlebensdauer von 8,5 auf 12,5 Jahre zu verlängern erreicht wird, sollte der Kurs um einen ähnlichen Prozentsatz springen.

[valueinvestor]

Antwort auf Beitrag Nr.: 21.301.625 von valueinvestor am 24.04.06 20:13:46

und: Bild ist immer gut:

[valueinvestor]

Antwort auf Beitrag Nr.: 21.301.742 von valueinvestor am 24.04.06 20:23:02

korrigiere: doch nicht immer.

[konradi]

.

Value, Du machst das schon ganz richtig ...

Kaum hat sich Seabridge das "Noche Buena Gold Project" unter den Nagel gerissen, pokert auch schon der alte Friedberg wieder eifrig mit:

http://biz.yahoo.com/ccn/060403/200604030319020001.html?.v=1

Und der dürfte den Laden bis aufs i-tüpfelchen auseinandergenommen haben("Pan Atlantic is beneficially owned and controlled by Albert D. Friedberg" ) Hintergrund: Aufgrund der "zu guten" Kursentwicklung mußte die Friedberg Group (http://www.friedberg.ca/c/htmlos/00442.1.417653689010399370/… im Februar einen Teil ihres Anteils verkaufen, um nicht gegen die 5 % Regel zu verstoßen.

hier noch mal die inzwischen von Yahoo entfernte Meldung vom 17. Februar:

Funds Managed by Friedberg Mercantile to Sell Seabridge Shares
Tuesday January 17, 7:00 am ET

Seabridge Share Price Appreciation Exceeds Asset Allocation Limits
TORONTO--(BUSINESS WIRE)--Jan. 17, 2006--Seabridge Gold Inc. (TSX VENTURE:SEA - News; AMEX:SA - News) has been advised that three fixed income funds managed by Friedberg Mercantile Group Ltd. have filed Notices of Intention to Distribute Securities disclosing that they intend to divest of as many as 573,000 common shares of Seabridge. Friedberg Mercantile has advised Seabridge that it is required to sell these shares over the next several months in order to bring the Funds back into compliance with provisions limiting the Funds to a 5% exposure to equities and to comply with regulatory requirements. Because the Funds are managed by Friedberg Mercantile Group, their shares of Seabridge are reported as part of the control position in Seabridge of Albert D. Friedberg, who controls Friedberg Mercantile Group and Pan Atlantic Bank and Trust Ltd., Seabridge's largest shareholder.
The three fixed income Funds own 1,050,000 common shares of Seabridge in total. Seabridge shares have appreciated significantly recently, bringing their value well above the 5% limitation on equity holdings in each of these Funds. Pan Atlantic Bank and Trust owns 5,929,652 common shares of Seabridge and Albert Friedberg personally owns 43,400 shares of Seabridge.

"The sale of shares by these three funds in no way affects the Seabridge position held by Pan Atlantic or myself. As we announced on September 29, 2005, Pan Atlantic intends, subject to market conditions, to acquire additional shares in Seabridge for investment purposes," said Albert D. Friedberg, President of Friedberg Mercantile Group and controlling shareholder of Pan Atlantic.

Seabridge has acquired a 100% interest in eight North American gold projects, subject to earn-in rights of up to 65% at its Kerr-Sulphurets project and up to 62.5% at its Quartz Mountain project held by potential partners. For a breakdown of the Company's mineral resources by project and resource category please see http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Grassy Mountain, Kerr-Sulphurets and Hog Ranch projects, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

[valueinvestor]

Antwort auf Beitrag Nr.: 21.217.204 von valueinvestor am 17.04.06 21:14:24

wenn mosern immer helfen würde...

e voilá, ein neues ATH:



im nachbörslichewn Handel wurde auch kurz mal 11$ bezahlt. Riecht nach einem Börsenbrief oder sickernden Bohrergebnissen.

[valueinvestor]

Antwort auf Beitrag Nr.: 21.323.087 von valueinvestor am 26.04.06 08:53:10

Seabridge Gold (CA:SEA) (SA) announced today that it has reached agreement with Falconbridge Limited whereby Seabridge will purchase Falconbridge's option to earn a 65% interest on Seabridge's Kerr-Sulphurets project located in British Columbia, Canada. Consideration to be paid by Seabridge to Falconbridge includes 200,000 common shares and up to 2.0 million conditional common share purchase warrants exercisable for five years at a strike price of C$13.50 per share. One warrant will be issued for each new ounce of gold resources discovered at Kerr-Sulphurets, up to a maximum of two million. The transaction is subject to regulatory approval.

As background, in September 2002, Seabridge granted Noranda Inc. (now known as Falconbridge Limited.) an option whereby Falconbridge could earn a 50% interest in the Kerr-Sulphurets project by spending $6,000,000 on exploration at the project within six years. Falconbridge could earn an additional 15% interest by funding all costs to complete a feasibility study. From 2003 through 2005, Falconbridge spent approximately C$2.4 million on exploration including surface work programs and a 4,000 meter drill program. This drilling encountered significant gold-copper mineralization.

Tony Green, Falconbridge's General Manager, Copper & Zinc Exploration, noted that "our mandate was to identify a higher-grade copper target. However, gold exploration appears to offer the greatest opportunity for resource expansion at Kerr-Sulphurets To capture this potential upside, we asked for warrants as part of the consideration and we are providing an exploration team for Seabridge to go after this potential this summer." Seabridge will fund the program as 100% owner of the project.

Seabridge President and CEO Rudi Fronk said the acquisition meets two key objectives for Seabridge. "We now have an opportunity to push hard to explore these new gold targets at Kerr-Sulphurets with people who understand the property well and we are ensuring that there is no dilution of gold ownership per share in this transaction by issuing warrants only when additional ounces are found."

All six targets drill-tested by Falconbridge at Kerr-Sulphurets during 2005 yielded gold-copper mineralization. The most promising target was the Mitchell Zone, an area of intense quartz veining and alteration in intrusive and volcanic rocks. Three holes previously drilled by Placer Dome at the Mitchell zone encountered long intervals (+150 meters) of gold-copper mineralization grading approximately 0.70 gpt gold and 0.20% copper. Falconbridge drilled one core hole to test for a western extension of the Mitchell Zone (WM-05-01) which intersected 217 meters averaging 0.77 grams per tonne gold and 0.19% copper. "The Mitchell target area, measuring at least 200 meters by 1,000 meters, has the potential to generate a multi-million ounce gold deposit with significant copper credit," Mr. Fronk said.

Seabridge has acquired a 100% interest in eight North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please see visit the Company's website at http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Grassy Mountain, Kerr Sulphurets and Hog Ranch projects, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Hmm, ist das jetzt gut? Mir hätte es besser gefallen, wenn Falconbridge drin geblieben wären. So zahlt Seabridge, Falconbridge bohrt und kriegt die Aktien - na ja - nicht umsonst...

[valueinvestor]

Antwort auf Beitrag Nr.: 21.348.890 von valueinvestor am 27.04.06 16:55:21

wow, jetzt aber im Minutentakt:

Seabridge Gold (CA:SEA) (SA) announced today that it has completed the acquisition of Hecla Mining Company's 100% interest in the Noche Buena gold project located in Sonora, Mexico for US$4,350,000 in cash. As part of its due diligence on the project, Seabridge commissioned Resource Modeling Inc. ("RMI") of Tucson, Arizona to prepare an independent National Instrument 43-101 Technical Report on the project. The Technical Report will be filed on SEDAR.

RMI reviewed all available project data, including historic resource estimates, and concluded that the information was sufficient to state a mineral resource under National Instrument 43-101. The following table provides RMI's estimate of gold resources at Noche Buena as of March 31, 2006:

Noche Buena Gold Resources at 0.30 gram per tonne cut-off
---------------------------------------------------------------------
Indicated Inferred
---------------------------------------------------------------------
Tonnes Grade Ounces Tonnes Grade Ounces
(000's) (g/T) (000's) (000's) (g/T) (000's)
---------------------------------------------------------------------
21,867 0.81 569 14,031 0.68 308
---------------------------------------------------------------------


For details on this resource estimate, please see Seabridge's news release dated April 3, 2006.

Gold resource estimates included herein for Noche Buena were prepared by RMI under the direction of Michael Lechner, who is independent of Seabridge and is a Qualified Persons as defined by National Instrument 43-101.

[SimplyRed]

Ist das jetzt alles gut oder nicht ?

Der heutige Anstieg beim Gold hilft Seabridge jedenfalls nicht.

[valueinvestor]

Antwort auf Beitrag Nr.: 21.366.570 von SimplyRed am 28.04.06 16:51:43

sea hat schon manchmal seinen eigenen Kopf



ohne die Geologie zu kennen, kann man die Resourcen schlecht bewerten, die Goldgehalte legen mir als Laien jedoch nahe, dass ein gewinnbringender Abbau einen höheren Goldpreis voraussetzt. Lasse mich aber gerne belehren...

[valueinvestor]

Gold auf 660
seabridge heute in den Anfangsminuten mit +5% auf 10,92

[DCShoes]

Die Erwartungen der Explorationsbohrungen im Courageous Lake Gold Project wurden übertroffen.
Im Vergleich zu südamerikanischen Gebieten anderer Minenaktien sind die Northwest Territories in Canada zudem politsch sicheres Terrain!

Heute in Frankfurt +10%.

DC


Meldung aus www.seabrideggold.com:
May 3, 2006
Courageous Lake Drilling Yields Exceptional Assays
Results Expected to Improve Average Grade of FAT Deposit

Toronto (Canada) — Seabridge Gold announced today that it has successfully drill-tested a number of structurally controlled zones within the existing FAT deposit at its 100% owned Courageous Lake gold project in the Northwest Territories, Canada. The results obtained are significantly higher than the grades predicted in the FAT deposit resource model and, as such, are expected to increase the grade of the deposit in those areas.

[valueinvestor]

Und was für Werte! Wahnsinn!

http://www.seabridgegold.net/NMay3_06.htm

Das sind Werte für eine step out Linie!
Loch CL 061 vom Boden weg 102 Meter mit 8,17 Gramm (bisherige Schätzung 0,78gr),
von 124 bis 229 M Tiefe 4,06 gr,
das müßte mit dem Teufel zugehen, wenn damit nicht nur die Fixkosten auf mehr Gold verteilt werden, sondern zusätzlich noch die Produktionskosten gesenkt werden könnten.

Das wird mein erster Tenbagger!

[valueinvestor]

http://www.gold-eagle.com/editorials_05/stewart042706.html

A mistake many investors make when using technical analysis is not to use monthly and weekly time frames to analyze an instrument. More importantly, if they did, they might not have the right "maps" to correctly find, review and decide if the stock has the characteristics of a "Super Performance" stock. Lets take a look at how we can identify good momentum stocks and use one of our top ideas that we would buy right now in the Gold sector.

Seabridge Gold / SA ($10.50)



When we start our research, we always begin with a 2 Yr Weekly. We look for stocks that breakout of a trading range on massive weekly volume. The best stocks will have the RSI 69+ and the OBV & EMA all hitting new highs at the breakout.

NOTE: This is mandatory and non-negotiable for the best stocks.



Monthly charts can tell you so much about the supply and demand for a stock. If you went back and profiled every major winning stock for the last 100 years using our "maps" you would see the same bullish monthly picture as you do in SA.



When we look at the daily, we want to see a trend, and it is mandatory for OBV & EMA to be hitting new highs when price does. If they don't hit new highs, this means demand for the stock is fading and we should start to look for the exit door!

[valueinvestor]

und ein Quartalsbericht - aufgrund von Steuererstattungen ein Gewinn von 0,01 Cent - das schaffen viele Produzenten nicht!

The Gold Market
At Seabridge, it is our contention that the real bull market in gold may not have begun yet. There is a bull
market in commodities in which gold has participated somewhat fitfully but this bull market is based upon a
perceived shortage of commodities in response to rapid economic growth. Commodity production has been
constrained by a lack of investment due to low prices in the 1980s and 1990s while demand has risen in the
third world, especially China. This imbalance has been made much worse by an unprecedented flow of
speculative capital from commodity and hedge funds chasing momentum and driving prices to record highs
in nominal terms.
Gold is not in short supply. There are about 4.5 billion ounces of gold above ground – nearly all the gold
ever mined. That’s about 60 years worth of current production. Why? Because unlike a commodity, gold is
not consumed. Its highest and best use is as a store of wealth, its role as real money. The propensity to save
gold far exceeds the propensity to consume it. Gold as jewellery is nothing other than a traditional form of
savings readily mobilized when needed. If gold had significant other uses, there would be far less of it and it
would be much cheaper. Conversely, the highest and the best use of oil, copper or silver is not in a vault.
Over the past 200 years or so, the real price of every single commodity has declined, typically by 2-3% per
annum, as primary supplies have grown more rapidly than global income (Veneroso’s View, April 19, 2006,
pp 4). Commodity prices are determined by the interplay of current supply and current demand among users
and producers, with inventories usually measured in terms of months.
Over the same 200 year period, primary gold mined supply has grown less rapidly than global income and its
real price has slowly appreciated (Veneroso). The price of gold in the long run is determined by the relative
value of 4.5 billion ounces of gold against the global pool of financial assets – now about $150 trillion in fiat
currencies, stocks, bonds and other instruments, not to mention some $270 trillion in derivatives contracts. If
confidence in financial assets is high, the relative value of gold as stored wealth tends to be low. If
confidence in financial assets wavers, the gold price measured in fiat currencies rises as gold develops a
monetary premium.
As Steve Saville notes in the April 19, 2006 edition of The Speculative Investor, “if gold were attracting the
sort of monetary premium it attracted at the end of 1979 (a period of high inflation) then a copper price of
$2.95/lb (the current price) would be associated with a gold price of well over $1,500/ounce.”
The gold price is higher against all the world’s major currencies and has recently set new historic heights
against the South African Rand, Indian Rupee, Chinese Yuan and Japanese Yen. But the ratio of the gold
price to a basket of industrial metals is at a five year low. The reason is that confidence in the world
economy remains high and inflation expectations remain low.
How do we know that inflation expectations are low? Because the additional yield on an inflation-indexed 10
year U.S. Treasury Note is less than 2.6%, about the same as a year ago. Because the yield curve is nearly
flat, providing very little premium for holding longer maturities. And because price/earnings ratios are at
high levels globally when they would normally be lower if investors were concerned about inflation.
It is our view at Seabridge that the real bull market in gold, during which gold will outperform commodities,
is likely to begin in earnest when inflation expectations rise. A steeper yield curve will probably be the
signal. A recent trend to higher yields in the longer maturities of the bond market may be an early indicator.
In the past, gold and gold equities have tended to correlate well with rising yield spreads (when interest rates
on longer maturities are rising faster than interest rates on shorter maturities). A move by major central banks
to counter slower economic growth by lowering short term interest rates would likely be a catalyst.
The key issue is the public’s understanding of what constitutes inflation. If inflation is defined as an upward
movement in the consumer price index, as is generally the case now, inflation expectations would probably
remain low. If inflation is correctly understood to be a rise in money supply in excess of real growth, gold’s
performance would be enhanced. In the larger western economies, the supply of fiat currency is typically
growing at the rate of 7% or so annually. In Asian economies, the growth rates are much higher, some
exceeding 20%. Fiat currencies can be looked at as a commodity with a zero production cost. In comparison,
gold is difficult and expensive to produce and the world’s supply of gold is rising at less than 2% per year,
about the average of the last two centuries (Veneroso). How long will it take for investors to recognize this
fact?
We believe that gold as an investment will be increasingly volatile as we go forward and significant
corrections are possible. If speculative capital leaves the commodity sector, gold will also be hit, at least in
the short term. Investors need to be prudent and patient. But in our view, the performance of gold against
other asset classes is still far from its peak.

[valueinvestor]

Antwort auf Beitrag Nr.: 21.432.779 von valueinvestor am 04.05.06 17:27:51

Ich bin jetzt nochmals durch das

Preliminary Assessment Completed For Seabridge Gold’s Courageous Lake Project from September 21, 2005

gegangen.

Dort gibt es die
Courageous Lake Cumulative Pre-Tax Net Cash Flow Projections

Extrapoliert man die dortigen Werte auf den aktuellen Goldpreis, hat das FAT Deposit einen Netto Cash Flow von 1,150 Milliarden.

Der Punkt: 4 Year extended mine life ist nochmals 516 Millionen wert, wobei nicht klar ist, auf welchen Goldpreis sich der Wert bezieht.
Diese 4 zusätzlichen Jahre sollen auf drei Wegen ermöglicht werden:

1) higher grade structures within the FAT deposit which were not intersected in previous drilling; (2) two new structures to the west of the known deposit but within the projected open pit; and (3) a northern extension of the FAT deposit discovered in last year’s drilling.

Punkt 1 wurde jetzt abgearbeitet und die Erwartungen wurden deutlich übertroffen, im Schnitt vielleicht um 100 bis 150%, man müsste das mal nachrechnen. Gut möglich, dass wir nach 10 Löchern die 4 Jahre schon haben.

[valueinvestor]

SEabridge kann sich nicht entscheiden, gestern ein windelweiches all time high mit dünnsten Umsätzen und einem langen Docht nach oben, heute dann ein 8% Absturz auch mit ansprechendem Volumen, allein zum Schluss wird sea wieder hochgekauft.

[SimplyRed]

Antwort auf Beitrag Nr.: 21.544.294 von valueinvestor am 12.05.06 22:13:30

Dafür ging es gestern gewaltig bergab. Hmmm, die negative Korrelation mit dem Gold funktioniert deutlich besser als auf der positiven Seite.

[SimplyRed]

Antwort auf Beitrag Nr.: 21.599.935 von SimplyRed am 16.05.06 09:22:35

Donnerwetter - was ist denn los ?

Gold fällt - Seabridge fällt
Gold steigt - Seabridge fällt

[LaraSoft]

Hallo Leute,

hier gibt´s news, ich stell sie Euch einfach mal rein:


Seabridge Gold Inc.: Courageous Lake Drilling Encounters Gold Mineralization West of the FAT Deposit
2006-06-07 06:00 ET - News Release

TORONTO, CANADA -- (MARKET WIRE) -- 06/07/06

http://at.marketwire.com/accesstracking/AccessTrackingLogSer…
Seabridge Gold (TSX VENTURE: SEA)(AMEX: SA) announced today that drill testing to the west of the main FAT deposit has discovered new gold mineralization which lies within the boundaries of the open pit design contained in the Preliminary Assessment on the project filed on SEDAR (see news release dated September 21, 2005). The results are expected to increase the projected mine life of the FAT deposit by converting waste to ore and widening and deepening the open pit design to capture gold resources located beneath the current pit design. The FAT deposit is located on Seabridge's 100% owned Courageous Lake gold project in the Northwest Territories, Canada.

In February, Seabridge initiated a 15,000 meter core drill program at Courageous Lake. To date, 26 holes have been completed totaling approximately 7,100 meters. The balance of the program will be completed during the summer. The 2006 program was designed to increase the projected 8.5 year mine life of the project (see news release dated September 21, 2005) by testing: (1) higher grade structures within the FAT deposit which were not intersected in previous drilling; (2) two new structures to the west of the known deposit but within the projected open pit; and (3) a northern extension of the FAT deposit discovered in last year's drilling.

In the winter program, eight holes tested for gold bearing zones west of the main FAT deposit (holes CL-041, 042, 043, 044, 046, 050, 053 and 056). Several new zones were intersected while others that had been recognized by past exploration, but not extensively tested, were confirmed and expanded. Most of the zones have been cataloged as waste material in the existing resource model. These zones are for the most part similar in style to the main FAT deposit.


Results from the eight holes are as follows:

-------------------------------------------------------------------
Drill Hole From To Length Gold Grade
Number (meters) (meters) (meters) (grams/tonne)
-------------------------------------------------------------------
CL-041 No significant assays
-------------------------------------------------------------------
CL-042 78.5 96.0 17.5 0.80
-------------------------------------------------------------------
CL-043 304.0 317.5 13.5 1.61
-------------------------------------------------------------------
CL-044 9.5 11.0 1.5 8.17
-------------------------------------------------------------------
CL-046 No significant assays
-------------------------------------------------------------------
CL-050 11.5 45.0 33.5 1.77
-------------------------------------------------------------------
CL-053 67.5 75.4 7.9 1.02
140.3 151.3 11.0 0.75
-------------------------------------------------------------------
CL-056 224.0 239.1 15.1 5.93
-------------------------------------------------------------------


These eight drill holes were collared in an area covering 700 meters north-south (from section lines 4400N to 5100N) and 410 meters east-west (mine grid 2370 to 2780), representing approximately 30% of the strike length of the FAT deposit. All eight holes were drilled from west to east at an incline ranging from minus 55 to minus 70 degrees. True widths of these intercepts are not known at this time, but are likely to be confirmed in the next round of drilling.

Additional drilling is scheduled for this summer for resource definition in these western zones. The projected intersection of two of these zones may represent a significant target for resource expansion within the current pit design. A second and more important benefit of these new zones could be the "unlocking" of additional gold resources already defined in the FAT resource model which remain below the currently projected pit bottom. Following completion of the summer program, a new resource model and corresponding mine plan will be developed for the project, compliant with National Instrument 43-101.

To date, results have been released for 18 of the 26 holes completed during the winter phase of the 2006 program. Results from the 10 holes which tested for potential high grade zones were released in May (see news release dated May 3, 2006 for details). Results from the eight holes which tested for additional mineralization to the west are included in this release. Results from the eight holes which tested for strike extensions to the north (holes 045, 051, 057, 062, 063, 064, 065 and 066) have not yet been released.

Seabridge's Courageous Lake project covers 53 kilometers of the Matthews Lake Greenstone Belt which hosts the 2 kilometer long FAT deposit. The FAT deposit contains an estimated 3.72 million ounces in the measured and indicated categories (50.4 million tonnes grading 2.30 grams of gold per tonne) plus an additional estimated 5.23 million ounces in the inferred category (77.4 million tonnes grading 2.10 grams of gold per tonne).

Exploration activities at the Courageous Lake gold project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101. Seabridge utilizes Acme Laboratories, located in Vancouver B.C., for all of its initial analytical work. Samples are prepared at Acme's Yellowknife prep facility and shipped by them to Vancouver for fire assay. A rigorous quality control/quality assurance protocol was used on this program including blank and reference standards in every batch of assays, and duplicates and duplicate pulps at regular intervals.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Grassy Mountain, Kerr Sulphurets and Hog Ranch projects, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Statements relating to the estimated or expected future production and operating results and costs and financial condition of Seabridge, planned work at the Company's projects and the expected results of such work are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2005 and in the Company's 20-F filed with the U.S. Securities and Exchange Commission (available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management or its independent professional consultants on the date the statements are made.

ON BEHALF OF THE BOARD

"Rudi Fronk," President & C.E.O.

The TSX-V Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts:
Seabridge Gold Inc.
Rudi P. Fronk
President and C.E.O.
[phone]
[phone] (FAX)
[e-mail]
Visit our website at www.seabridgegold.net

[LaraSoft]

Seabridge Gold Closes C$3.6 Million Flow-Through Financing

TORONTO, CANADA -- (MARKET WIRE) -- June 30, 2006 -- Proceeds to Fund 7,500 Meter Drill Program at Kerr-Sulphurets

Seabridge Gold (TSX VENTURE: SEA)(AMEX: SA) announced today that it has closed its previously announced private placement financing of 325,000 flow-through shares at C$11.25 per share for gross proceeds of C$3,656,250. This financing will be used to fund a 7,500 meter core drilling program at the Company's 100% owned Kerr-Sulphurets gold/copper project located in British Columbia, Canada.

The shares issued under this private placement are subject to a four-month hold period expiring on October 30, 2006. Insiders of the Company purchased 37,000 shares of the financing. There were no commissions or finder's fees payable on this financing.

The drill program is designed to expand the project's known gold resource by testing for the strike and depth extensions of the Sulphurets deposit and by systematically drilling the promising new Mitchell gold zone identified in previous work (see news release dated June 15, 2006 for details). Following the program, a 43-101 Technical Report will be prepared for the Mitchell, Sulphurets and Kerr deposits.

The 2006 drill program will be executed by Falconbridge Limited's exploration team which has worked on the project for the past three years. Falconbridge had an option to earn an interest in the Kerr-Sulphurets project from September 2002 to April 2006 when it agreed to terminate its option in return for Seabridge common shares and warrants (see news release dated April 27, 2006 for details). Exploration activities at Kerr-Sulphurets will be conducted under the supervision of William E. Threlkeld, Senior Vice President of Seabridge and a Qualified Person as defined by National Instrument 43-101.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Grassy Mountain, Kerr-Sulphurets and Hog Ranch projects, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Statements relating to the estimated or expected future production and operating results and costs and financial condition of Seabridge, planned work at the Company's projects and the expected results of such work are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2004 and in the Company's 20-F filed with the U.S. Securities and Exchange Commission (available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management or its independent professional consultants on the date the statements are made.

ON BEHALF OF THE BOARD

"Rudi Fronk," President & C.E.O.

The TSX-V Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contacts:
Seabridge Gold Inc.
Rudi P. Fronk
President and C.E.O.
[phone]
[phone] (FAX)
[e-mail]
www.seabridgegold.net

SOURCE: Seabridge Gold Inc.

[valueinvestor]

Gibt nicht viele Minen, die das Allzeithoch im Blick haben und 8% steigen, wenn die Manager Aktien verkaufen, um Steuern zu zahlen. So werden die herausragenden Bohrergebnisse am C L doch noch goutiert.

[valueinvestor]

12,25 $ ist im derzeitigen Markt aller Ehren wert. Man müßte für das Minenboard eine Statistik anfertigen, die die Aktienperformance zur Zahl der Postings ins Verhältnis setzt.
Also: Wieder ein neues all time high!

[valueinvestor]

12,70

Seabridge setzt sich an die Spitze des Zuges.
Avantgarde im besten Sinne des Wortes.

[valueinvestor]

TORONTO, CANADA, Jul 10, 2006 (CCNMatthews via COMTEX) -- Seabridge Gold (CA:SEA) (SA) announced today it has been advised by Friedberg Mercantile Group Ltd. that three fixed income funds managed by Friedberg have completed their previously announced intention to sell common shares of Seabridge (see news release dated January 17, 2006).

The three fixed income funds were required to sell because a rising Seabridge share price had taken the value of their Seabridge shares well above voluntary investment guidelines established for these Funds, which provide that a limit of 5% of net assets may be held in the securities of any one issuer. In addition, Canadian regulators also required that the single Canadian fixed income fund sell all of its Seabridge shares to eliminate a possible conflict with the other shares of Seabridge controlled by Albert D. Friedberg. In total, these three funds have sold 601,200 Seabridge shares.

Because the Funds are managed by Friedberg Mercantile Group, their shares of Seabridge are reported as part of the control position in Seabridge of Albert D. Friedberg, who controls Friedberg Mercantile Group and Pan Atlantic Bank and Trust Ltd., Seabridge's largest shareholder.

The funds managed by Friedberg Mercantile now own 577,900 common shares of Seabridge in total. Pan Atlantic Bank and Trust owns 6,291,152 common shares of Seabridge, and Albert Friedberg personally owns 43,400 shares of Seabridge. The Pan Atlantic total includes 361,500 shares of Seabridge acquired since January 17, 2006.

"The sale of shares by these three funds in no way affects the Seabridge position held by Pan Atlantic or myself. Pan Atlantic has recently increased its ownership in Seabridge, and may, subject to market conditions, acquire additional shares in Seabridge for investment purposes," said Albert D. Friedberg, President of Friedberg Mercantile Group and controlling shareholder of Pan Atlantic

Endlich ist dieser lästige Verkaufsdruck weg, der wie Blei auf dem Kurs gelegen hat in diesem Jahr.

[valueinvestor]

Antwort auf Beitrag Nr.: 22.534.051 von valueinvestor am 12.07.06 00:03:29

Drilling Underway at Seabridge Gold's Kerr-Sulphurets Project
TUESDAY, JULY 18, 2006 11:11 AMTORONTO, ONTARIO, Jul 18, 2006 (MARKET WIRE via COMTEX) -- Seabridge Gold (CA:SEA) (SA) announced today that it has commenced a 7,500 meter core drill program at its 100%-owned Kerr-Sulphurets project located in British Columbia, Canada. One rig has been mobilized to the site and is now drilling. A second rig is scheduled to arrive in the next few days and is expected to be drilling by the end of this week. The program is designed to expand the project's known gold resource by testing for the strike and depth extensions of the Sulphurets deposit and by systematically drilling the promising new Mitchell gold zone identified in previous work. Following the program, a 43-101 Technical Report will be prepared for the Mitchell, Sulphurets and Kerr deposits.

The Sulphurets deposit was the focus of an extensive drill delineation program during Placer Dome's involvement in the project. Historic resources at Sulphurets were defined in a zone measuring approximately 1,000 meters long by 200 meters wide by 200 meters down-dip, following a low angle fault. Gold and copper are associated with quartz veins in the fault zone and in broader zones of intense silicic alteration in breccia below the fault. Seabridge is planning to drill seven core holes designed to test for strike extensions of the Sulphurets deposit to the northeast and the southwest, as well as a down-dip extension of mineralization within the heart of the Sulphurets deposit.

The Mitchell zone was first drilled by Newhawk Gold Mines and identified as a porphyry gold-copper system. In 2005, Falconbridge drilled one core hole 750 meters west of the Newhawk drilling and encountered similar grades (approximately 0.70 grams per tonne gold and 0.20% copper). Previous work suggests that the zone may extend over an area of 1,500 by 500 meters. More than 19 core holes will be drilled this summer into this area on 200 meter centers with the objective of defining a reportable gold resource.

The 2006 drill program will be executed by Falconbridge Limited's exploration team which has worked on the project for the past three years. Falconbridge had an option to earn an interest in the Kerr-Sulphurets project from September 2002 to April 2006 when it agreed to terminate its option in return for Seabridge common shares and warrants (see news release dated April 27, 2006 for details). Exploration activities at Kerr-Sulphurets will be conducted under the supervision of William E. Threlkeld, Senior Vice President of Seabridge and a Qualified Person as defined by National Instrument 43-101.

[valueinvestor]

Wäre klasse, wenn heute die 12 $ zurückerobert würden, dann wäre da eine schöne Widerstandszone.

[valueinvestor]

[valueinvestor]

nur 1 Cent, aber es ist ein all time high bei 13,91!

[valueinvestor]

Stürmischer Handelsauftakt heute.
Eine Ausbruchlücke bis 14,33$ und Tageshoch bei 14,75.

Wird wohl mein erster Tenbagger.

[valueinvestor]

Antwort auf Beitrag Nr.: 23.284.140 von valueinvestor am 02.08.06 15:58:54

Anlässlich des 8%igen Pluses (geiler Genitiv) hier die Lageeinschätzung des Seabridge-Vorstandes zum Goldmarkt aus dem Q2 Bericht vom 11.8.:

The Gold Market
Volatility was the outstanding feature of the gold market in the second quarter of this year. After barely nudging
through $500 at year-end, gold sprinted into the $730 area in May on perceptions that global liquidity would
continue to expand rapidly. These perceptions quickly did an about face, led by the Bank of Japan’s move to
withdraw substantial liquidity from its banking system. Gold fell precipitously, hitting a low of $541 in overnight
markets before bouncing off its 200-day moving average, just as it has done in every other major correction since
2001. Recovery has been uncharacteristically swift with gold trading around the $650 mark as this is written.
A chart of the gold price over the past year now looks strangely like that of many of the world’s equity markets
and rather similar to industrial commodities. From this it is clear to us at Seabridge that gold has still not entered
its most powerful phase when its counter-cyclical character is emphasized. In the past, gold has always enjoyed its
best performance when other asset classes are weakening.
Gold strength over the past year seems to be related more to swings in speculative flows in and out of
commodities and currencies based upon anticipated shifts in liquidity and inflationary pressures. Thus we have the
conundrum that rising inflationary expectations trigger concern that the US Federal Reserve will raise interest
rates, which strengthens the dollar and weakens gold. Therefore, rising inflation means a lower gold price – a
perverse logic to say the least. And conversely, a poor job creation number means slower growth, a less aggressive
Federal Reserve, a weaker dollar and a stronger gold price as well as rising equity and commodity markets. This
pattern amounts to nothing more than continuing confidence in central banking.
In our view, gold will return to its historic anti-cyclical trading pattern and take its place alone at centre stage
when confidence in the Fed is broken. This is a development we expect to occur in the months ahead as it
becomes clear that the Fed is unwilling to impose the higher interest rates and economic pain required to quell
inflation. A slowing economy and growing weakness in the all important housing sector may indeed lead to policy
easing by the Federal Reserve just as price inflation is rising, unleashing inflationary expectations which de-link
gold from other asset classes, especially equities and commodities. This de-linking may involve painful
dislocations as it occurs but the result will, in our view, be most rewarding for Seabridge shareholders.

[valueinvestor]

Antwort auf Beitrag Nr.: 23.552.223 von valueinvestor am 21.08.06 22:41:08

Ach ja:
Heute wurden 400.000 Aktien frei aus einer Finanzierungsrunde vor 4 Monaten (Ende Lock Up). Soll das nicht andersrum funktionieren und der Kurs dann fallen?

[derivatus]

Habe gerade gesehen, dass man an der Amex auch Optionen auf Seabridge handeln kann.

http://finance.yahoo.com/q/op?s=SA

[derivatus]

Der aktuelle Rueckschlag bietet guenstige Tradingmoeglichkeiten in Seabridge. Nimmt man an dass der Goldpreis nochmal die Tiefs aus dem Juni testet dann sollten sich um 8 USD herum nochmal guenstige Einstiegspunkte ergeben.

[placerman]

Antwort auf Beitrag Nr.: 23.552.705 von valueinvestor am 21.08.06 23:31:15

An Valueinvestor:

Ich habe keine Antwort, sondern eine Frage, da Ihre Artikel von besonderem Interesse und know how des Goldmarktes zeugen: Kennen Sie das Unternehmen "Materia Geologica" in British Columbia (Ca)? Habe mir inzwischen die Page angesehen (www.materiageologica.com), woraus hervorgeht, dass dieses Unternehmen seit Jahren erfolgreich Projekte in Peru, Brasilien und jetzt auch Canada durchführt. Ist das Unternehmen quotiert? Gibt es irgentwelche Informationen darüber? Für eine Antwort wäre ich sehr dankbar.

Gruss von placerman

[valueinvestor]

Antwort auf Beitrag Nr.: 23.968.766 von placerman am 16.09.06 14:02:18

Ich bin weit davon entfernt, größeres know how im Goldmarkt zu haben, danke für die Blumen.
Das genannte Unternehmen kenne ich (noch) nicht, bei Gelegenheit werde ich es mir aber mal ansehen.

Heute News bei Seabridge:

Seabridge Confirms Large Gold-Copper System at Mitchell
TUESDAY, SEPTEMBER 19, 2006 7:30 AM

TORONTO, CANADA, Sep 19, 2006 (CCNMatthews via COMTEX) -- Seabridge Gold (CA:SEA) (SA) announced today that it has received assay results from the first eight holes drilled at the Mitchell Zone located at the Company's 100% owned Kerr-Sulphurets project in British Columbia.

In June 2006, Seabridge commenced a 7,500 meter core drill program at Kerr-Sulphurets designed to expand the project's known gold resource by testing for the strike and depth extensions of the Sulphurets deposit and by systematically drilling the promising new Mitchell gold zone identified in previous work. To date, 19 holes totaling approximately 5,900 meters have been completed at the Mitchell Zone with assay results received on the first eight holes (Note: Please see attached map on CCNMatthews' website for drill hole locations, available at the following link: http://www.ccnmatthews.com/docs/sea0919.pdf ). All of the Mitchell holes were drilled from north to south at a decline of approximately minus 70 degrees. Following the program, a National Instrument 43-101 Technical Report will be prepared for the Mitchell, Sulphurets and Kerr deposits.

Assay results from the first eight holes drilled at the Mitchell Zone are as follows:

--------------------------------------------------

Drill     Depth   From       To    Length     Au      Cu

Hole        (m)    (m)      (m)       (m)    gpt       %

--------------------------------------------------

M-06-01   306.0    5.7    306.0     300.3   0.81    0.13

--------------------------------------------------

M-06-02   426.0    3.0    426.0     423.0   0.81    0.17

--------------------------------------------------

M-06-03   354.0    6.0    274.0     268.0   0.83    0.16

--------------------------------------------------

M-06-04   303.0   34.0     58.0      24.0   0.84    0.06

--------------------------------------------------

M-06-05   198.0    5.6    198.0     192.4   0.49    0.15

   Incl.          18.0     26.0       8.0   0.75    0.17

   Incl.          50.0     86.0      36.0   0.66    0.19

   Incl.         126.0    138.0      12.0   0.65    0.24

--------------------------------------------------

M-06-06   302.0    6.0    302.0     296.0   0.80    0.19

--------------------------------------------------

M-06-07   302.0    4.4    302.0     297.6   0.97    0.28

--------------------------------------------------

M-06-08   346.0   15.0    346.0     331.0   0.80    0.19

--------------------------------------------------

Drill holes M-06-01, M-06-02, M-06-06, M-06-07 and M-06-08 terminated in material that was consistent with the grades of the overall hole. Results from Hole M-06-04 may suggest the southeastern boundary of the deposit. M-06-05 was prematurely terminated due to water pressure in the hole that significantly reduced drill efficiency.

Commenting on the drill results, Seabridge President and CEO Rudi Fronk stated that "we are satisfied with the results obtained to date. It is becoming evident that the Mitchell Zone has the potential to host a large gold-copper porphyry deposit with grades that are consistent with successful gold-copper mines now in operation. By year-end we plan to have an initial 43-101 resource estimate completed for the Mitchell Zone as well as preliminary metallurgical testwork."

The Mitchell Zone is centered on Mitchell Creek in the northern part of Seabridge Gold's Kerr-Sulphurets property. It is a complex structural zone that has been intensely hydrothermally altered. This zone appears to have a width of 800 meters across the Mitchell Creek valley and a strike extent of approximately 2,000 meters, with the western limit covered by talus and the eastern limit covered by the Mitchell Glacier. The true thickness of the target zone, based on initial drill results from the current program, is estimated to be at least 300 to 400 meters but could be more as most of the holes drilled to date ended in material that was consistent with the grades of the overall hole.

Geologic interpretation of the target zone continues to evolve with additional drilling and surface exploration. Gold and copper concentrations are associated with altered metavolcanic and metasedi-mentary rocks that are believed to be intensely fractured by a major northwest striking and north dipping fault. In addition, a systematic alteration pattern emanating from a porphyritic granite north of the target zone may also be influencing the distribution of gold and copper in the zone.

Intense quartz-sericite alteration is used to define the trace of the major northwest striking fault, consisting of pervasive sericite and up to 80% quartz stockwork veins. Surrounding this alteration is moderate to intense sericite alteration with up to 20% quartz stockwork veining. This alteration style gives way to a chlorite dominant alteration assemblage with variable intensity of quartz stockwork veining. All of these alteration assemblages contain significant concentrations of gold and copper. Ongoing work is concentrating on defining the limits of gold grades and establishing whether or not structure or lithology control the gold-bearing alteration pattern.


Also im Schnitt 0,8 gr Gold und 0,18% Kupfer
5 Minuten Kalkulation:
800m * 2.000m * 300m = 480 Mio m³ (Länge mal Breite mal Tiefe)
spezifisches Gewicht Gestein ca 2,5
480 mio *2,5 = 1,2 Milliarden Tonnen Gestein
macht 2,2 Mio t Cu
und 30 Millionen Unzen Gold oder 0,87 Unzen je Aktie
"grades that are consistent with successful gold-copper mines now in operation" - das ist dann schon ein großer Fund.

[valueinvestor]

Antwort auf Beitrag Nr.: 24.045.587 von valueinvestor am 19.09.06 17:35:07

reduziert man die Fläche auf die tatsächlich gebohrten Löcher komme ich auf ca 800 m * 500 m,
damit reduziert sich die Menge auf ein Viertel der unten angegebenen Werte
500.000 t Kupfer
7,5 Mio Unzen Gold

[valueinvestor]

Antwort auf Beitrag Nr.: 24.045.767 von valueinvestor am 19.09.06 17:45:38

Habe gerade folgende Mine gefunden:

Fort Knox von Kinross, dort gibt es knapp 2.000.000 Unzen Reserven und Resourcen mit einem Grad von 0,74 gr/t die total cash costs lagen 2004 bei 243$, die Mine ist derzeit wohl stillgelegt.
Barrick hat zwei Minen in Nevada open pit mit ähnlichen Graden und Kosten in Produktion (z.B. Marigold). Also gar nicht so schlecht.

[valueinvestor]

Antwort auf Beitrag Nr.: 23.965.430 von derivatus am 16.09.06 05:54:29

Die 8 wären nett für einen, der Seabridge noch nicht hat. Angesichts der letzten Nachrichten und auch dem anstehenden Update zum Courageous Lake wäre es derzeit riskant rauszugehen. Mir als in D ansässigen ist es bei meiner Haltezeit von ein mittlerweile ein paar Jahren der steuerliche Aspekt mehr wert als ein Trade zwischendurch.

JM Dutton (Vorsicht Auftragsanalyst)

Assay results received recently from the first eight of 19 holes drilled during the summer drill program at the Mitchell Zone at
Seabridge's Kerr-Sulphurets project were in our view nothing short of exceptional. Gold grade was consistently at 0.80 g/t. What we find
to be most compelling in the announcement is the overall size of the project which is presently defined at 400-500 meters horizontally,
800 meters of width and a strike of 2000 meters in which both of the latter two dimensions may be extended. The north and west have
not been tested. The thickness of the target zone is at least 300-400 meters thick but is likely to be more since the 19 holes drilled so far
ended in material that was as stated in the press release, "consistent with the grades of the overall hole."
Geologic interpretation and exploration continues and we look for assay results on some of the remaining 11 holes to be available over
the next six to eight weeks. However, we think the current results indicate a resource far greater than what the Company or we were
hoping such that the potential could be significantly in excess of the 5.0 million ounces of gold that was the recent goal.
Intuitively we sense this announcement has elevated the Kerr-Sulphurets to one of the largest gold deposits in all of North America.
Over time it may even be elevated to world-class status. More infill drilling will be required but Kerr now looks to be a very large and
mineable deposit since by-product copper credits will be huge--perhaps one billion pounds of copper. This will dramatically lower mine
operating costs. Our research report on Seabridge was in production at the time of this announcement consequently the section on
Kerr-Sulphurets and related comments will be updated with this new information.

Surch das yahoo board bin ich auf ein vergleichbares Projekt gestossen: Galore Creek - ich werde das bewertungstechnisch durcharbeiten, vor allem, weil es für Nova prominente Interessenten gibt.

[derivatus]

Seit 2 Wochen weist SA eine eindeutige Outperformance gegenueber den grossen Goldwerten wie z.b. NEM aus.
Ich denke daher dass wir die 8 USD doch nicht mehr sehen werden.

Als in D ansaessiger kann man statt die Aktien zu verkaufen auch mal zwischendurch bei einem Spike nach oben Calls verkaufen.

[valueinvestor]

Antwort auf Beitrag Nr.: 24.390.972 von derivatus am 04.10.06 06:00:28

Seabridge Drilling Expands Courageous Lake Gold Deposit
TUESDAY, OCTOBER 10, 2006 8:03 AM


Ten holes drilled this summer to the west of the FAT deposit's main gold zones have confirmed and delineated new mineralized structures which are likely to extend the project's expected mine life. The FAT deposit is located within Seabridge Gold's 100% owned Courageous Lake Project in Canada's Northwest Territories. Resource Modeling Inc. ("RMI") has been commissioned to prepare an updated resource estimate incorporating the drill results from 2005 and 2006 under National Instrument 43-101 guidelines.

The recently completed summer program was primarily dedicated to drill testing several gold zones to the west of the FAT deposit. Ten drill holes totaling 2,908.8 meters were located to off-set previous drill hole intersections of undefined mineralization that had not been incorporated into the 2004 resource model. Results from the 2005-2006 drilling campaigns have helped to delineate the strike and dip projections of these mineralized structures. Based on the new drilling information, new mineral domains have been interpreted in these areas. These domains will enable previously defined waste material to be re-classified as resources. In addition, these new mineralized domains should allow for a larger pit design which could access deeper and higher grade known resources which were not incorporated in the open pit used in the 2005 Preliminary Assessment (see news release dated September 21, 2005). All ten holes were drilled at inclinations ranging from minus 55 to minus 70 degrees. As the drill holes were designed to intersect the mineralization perpendicular to the zone, true widths of these intercepts are believed to be as reported in the table below.

-----------------------------------------------------------------------

-

Drill Hole      Section Line        From         To      Length        Au g/t

ID               (mine grid)

------------------------------------------------------------------------

CL-068                 4250N      197.66     209.50       11.84         11.08

------------------------------------------------------------------------

CL-070                 4350N      223.50     230.60        7.10          0.71

------------------------------------------------------------------------

CL-072                 4900N      371.75     374.75        3.00          0.95

------------------------------------------------------------------------

CL-073                 5200N      295.50     307.12       11.62          1.17

------------------------------------------------------------------------

CL-074                 5000N       83.14      85.64        2.50          2.64

------------------------------------------------------------------------

                                 207.00     225.00       18.00          1.01

                                -----------------------------------------

                                 232.23     235.00        2.77          1.19

------------------------------------------------------------------------

CL-075                 5150N              No significant assays

------------------------------------------------------------------------

CL-076                 4800N       63.00      69.73        6.73          1.42

------------------------------------------------------------------------

CL-077                 4800N      187.41     199.50       12.09          1.07

------------------------------------------------------------------------

CL-078                 4600N        3.07      51.50       48.43          2.29

------------------------------------------------------------------------

                                 237.00     245.00        8.00          1.67

------------------------------------------------------------------------

CL-079                 4800N              No significant assays

------------------------------------------------------------------------

In addition to the 10 holes drilled to the west of the FAT deposit, three holes (CL-067, 069, 071) were drilled well to the north of the FAT deposit on Section Line 6200N. These holes failed to intersect a further northern extension of the FAT deposit's main gold zones.

The most recent resource estimate for the FAT deposit was completed in December 2004. Since that time Seabridge has drilled 53 core holes totaling 15,722 meters. The results have led to significant revisions to the resource domains and generated better controls on the distribution of higher grade mineralization within the deposit. The attached map outlines the new resource domains that have been delineated since 2004.

Seabridge President and CEO Rudi Fronk noted that "our main objective for the 2005 and 2006 programs was to extend mine life beyond the projected 8.5 years set out in the 2005 Preliminary Assessment. Once RMI has completed a new resource model, we will generate a new pit design and mine plan. We are confident that both the total resource and the projected mine life will increase."

Seabridge's Courageous Lake Project covers 53 kilometers of the Matthews Lake Greenstone Belt which hosts the 2 kilometer long FAT deposit. As of December 2004, the FAT deposit contains an estimated 3.72 million ounces in the measured and indicated categories (50.4 million tonnes grading 2.30 grams of gold per tonne) plus an additional estimated 5.23 million ounces in the inferred category (77.4 million tonnes grading 2.10 grams of gold per tonne).

Exploration activities at the Courageous Lake gold project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101. Seabridge utilizes Acme Laboratories, located in Vancouver B.C., for all of its initial analytical work. Samples are prepared at Acme's Yellowknife prep facility and then shipped to their Vancouver facility for fire assaying. A rigorous quality control/quality assurance protocol was used on this program including blank and reference standards in every batch of assays, along with the submission of duplicates and duplicate pulps at regular intervals.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral

[valueinvestor]

Antwort auf Beitrag Nr.: 24.537.212 von valueinvestor am 10.10.06 16:00:47

200 Postings zu seabridge. Es soll umfänglichere Threads im Goldforum geben, ob die dazugehörigen Aktien mit der Performance mithalten können wage ich zu bezweifeln.



http://www.jmdutton.com/research/sa/repo...port_102306.pdf

Valuation
Our valuation for Seabridge is predicated on our independent valuation of the separate assets, i.e. projects, prospects,
plays, properties, based on the optionality potential of its in-ground resources. Table 8 (page 19) details this process, and
the footnotes provide further data. We gave no value to resource potential beyond measured, indicated and inferred,
although we believe significant upside exists, especially at courageous Lake and Kerr-Sulphurets. However, we have
included the potential resource quantity to allow the reader some sense of our sense of the potential of these projects based
on discussions with management and our own observations. We have assumed a gold price at a constant $650 level and
excluded Seabridge’s copper resource to concentrate on the Company’s potential as a gold play only. We have used a $62
per ounce value for in-ground reserves based on recent acquisitions in the gold mining sector. Based on our estimate of
12.68 million ounces of potential reserves from the Company’s already reported 18.1 million ounces of total gold
resources, Seabridge’s net asset value is approximately $786 million, or $20.53 per fully diluted share.If the admittedly highly speculative potential resources were included from all projects, the unrisked value could range
from $40 to $80 per share. However, we caution readers from making any judgments regarding Seabridge based on the
highly subjective nature of potential resources.

[valueinvestor]

Antwort auf Beitrag Nr.: 24.903.007 von valueinvestor am 27.10.06 23:56:37

Außerdem eine neue Slide show auf der Homepage. Endlich hat man auch mal Kartenmaterial zur Hand.
http://www.seabridgegold.net/corp_pres_oct06.pdf

[derivatus]

Seabridge Gold (SA) – WKN: 541875: ISIN: CA8119161054

Börsenplätze: Amex, Xetra, Frankfurt, Berlin-Bremen, München
Sektor: Gold

Kursstand aktuell: 12,58 $

Buy-Trigger: Einstieg zur Eröffnung
Stop: 11,58 $ Schlusskurs
Gewichtung: 8.000 $

Seabridge Gold befindet sich übergeordnet in einem intakten Aufwärtstrendkanal, dessen Unterkante in den Vorwochen leicht durchbrochen wurde. Der Kursverlauf hielt sich aber über der Unterstützung bei 10,49 $ und löste jetzt mit dem Ausbruch über 11,80 $ bei steigendem Volumen ein prozyklisches Kaufsignal aus. Mit dem insgesamt steigenden Goldsektor wird eine Wiederaufnahme der Rallye innerhalb des Trendkanals wahrscheinlich. Potenzial bietet sich dabei bis auf 15,30 $, mittelfristig kann die bei 18,00 $ liegende Trendkanal-Oberkante durchaus erreicht werden.

Wir kaufen uns heute spekulativ in die Aktie ein. Der Stopp-Loss wird bei 11,58 $ gesetzt, greift aber nur bei einem Rückfall dorthin auf Schlussbasis.

Risiko bis zum Stopp-Loss: 7,95 %
möglicher Gewinn bei Ziel 1 (15,30 $): + 21,62 %
möglicher Gewinn bei Ziel 2 (18,00 $): + 43,08 %

www.godmode-trader.de

[valueinvestor]

aha, daher das Volumen in D. Meines Wissens erst der 2. Tippdienst in Deutschland, der Sea überhaupt zur Krenntnis nimmt. Andreas Hoose war etwas früher...

[valueinvestor]

ach ja, es ist jetzt schon das zweite Mal, dass seabridge in dem Moment startet, als wieder Mal ein paar 100.000 Papiere aus ihren Lock Up Fristen rausgekommen sind. Geht das normal nicht immer anders rum?

[derivatus]

November 3, 2006

We are looking forward to seeing many of you at our Small Cap Conference on Monday. For your advance study so that you can have maximum advantage at the conference, or for just your additional information, we are providing two links:

2006 Westergaard Conference Book (1.4 meg pdf):
http://www.westergaardsmallcap.com/conference_110606/2006_We…

To listen to presentations – schedule of conference broadcast by Thomson:
http://www.westergaardsmallcap.com/conference_110606/2006_We…

We look for many of you to join us for breakfast at 8 am in the Starlight Roof at The Waldorf. Four senior Dutton analysts headed by Paul Resnik, CFA will be discussing their sectors and specific ideas. The theme is Recognizing Opportunity in Small Cap Investing. It is an opportunity to meet and hear several of Wall Street’s top analysts, and one of the top performing research groups on Wall Street.

Until Monday at the Analyst Form and the Westergaard Conference.
Sincerely,John M. Dutton President & CEO

_________________________________________________________
Seabridge ist am Nachmittag dran

[valueinvestor]

Latest Seabridge Drill Results Expand New Mitchell Gold-Copper Deposit
TUESDAY, NOVEMBER 07, 2006 8:03 AM

TORONTO, ONTARIO, Nov 07, 2006 (MARKET WIRE via COMTEX) -- Seabridge Gold (CA:SEA) (SA) announced today that assay results from seven additional holes drilled at Mitchell have expanded the known size of the gold-copper porphyry system and confirmed the continuity of grades that are consistent with successful gold-copper mines now in operation. The Mitchell deposit is located at the Company's 100% owned Kerr-Sulphurets project in British Columbia. Further drill results are expected in the next several weeks.

In June 2006, Seabridge commenced a 7,500 meter core drill program at Kerr-Sulphurets designed to expand the project's known gold resource by testing for the strike and depth extensions of the Sulphurets deposit and by systematically drilling the promising new Mitchell gold zone identified in previous work.

Based on success in the first eight holes (see News Release dated September 19, 2006), the program was expanded to 9,129 meters. All drilling is now complete with 24 holes (7,506 meters) drilled at Mitchell and five holes (1,623 meters) drilled at Sulphurets. To date, assay results have been received and analyzed from the first 15 Mitchell holes (To view the map for the drill hole locations, please visit the following link http://www.ccnmatthews.com/docs/seabridge.pdf). All of the Mitchell holes were drilled from north to south inclined at approximately 70 degrees. Following the receipt and compilation of all drill results, a National Instrument 43-101 Technical Report will be prepared for the Mitchell, Sulphurets and Kerr deposits.

Assay results from holes 9 through 15 drilled at the Mitchell Zone are as follows:

-----------------------------------------------

Drill     Depth    From      To Length     Au     Cu

Hole        (m)     (m)     (m)     (m)    gpt      %

-----------------------------------------------

M-06-09   299.0     4.0   299.0   295.0   0.97   0.31

-----------------------------------------------

M-06-10   197.0    75.0   197.0   122.0   0.70   0.15

-----------------------------------------------

M-06-11   297.0     3.7   297.0   293.3   0.85   0.27

-----------------------------------------------

M-06-12   297.0   189.0   297.0   108.0   0.61   0.15

-----------------------------------------------

M-06-13   299.0     4.9   299.0   294.1   0.78   0.25

-----------------------------------------------

M-06-14   453.0    85.0   135.0    50.0   0.65   0.09

                 251.0   453.0   202.0   0.88   0.17

-----------------------------------------------

M-06-15   354.0     2.9   278.0   275.1   0.58   0.09

-----------------------------------------------

Drill holes M-06-09, M-06-10, M-06-11, M-06-12, M-06-13 and M-06-14 terminated in material that was consistent with the grades of the noted interval. Results from hole M-06-15 along with previously reported results from hole M-06-04 may suggest that the drilling is approaching the eastern boundary of the deposit.

The Mitchell Zone is centered on Mitchell Creek in the northern part of Seabridge Gold's Kerr-Sulphurets property. It is a complex structural zone that has been intensely hydrothermally altered. This zone appears to have a width of 800 meters across the Mitchell Creek valley and a strike extent of approximately 2,000 meters, with the western limit covered by talus and the eastern limit covered by the Mitchell Glacier. The true thickness of the target zone, based on initial drill results from the current program, is estimated to be at least 300 to 400 meters but could be more as most of the holes received to date ended in material that was consistent with the grades of the overall hole.

Exploration activities at Kerr-Sulphurets were conducted by personnel from Xstrata Copper Canada (following Xstrata's acquisition of Falconbridge Limited) under the supervision of William E. Threlkeld, Senior Vice President of Seabridge and a Qualified Person as defined by National Instrument 43-101. Initial analytical work for the 2006 drill program is being conducted by Eco-Tech Laboratories, located in Kamloops, British Columbia. Samples were prepared at Eco-Tech's Stewart, BC prep facility and shipped by them to Kamloops for assay. An ongoing and rigorous quality control/quality assurance protocol is being used on this program including blank and reference standards in every batch of assays. Duplicate analyses are being conducted on 10% of the samples at the ALS Chemex Vancouver laboratory.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Grassy Mountain, Kerr Sulphurets and Hog Ranch projects, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Statements relating to the estimated or expected future production and operating results and costs and financial condition of Seabridge, planned work at the Company's projects and the expected results of such work are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2005 and in the Company's 20-F filed with the U.S. Securities and Exchange Commission (available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management or its independent professional consultants on the date the statements are made.

ON BEHALF OF THE BOARD

"Rudi Fronk," President & C.E.O.

[valueinvestor]

Antwort auf Beitrag Nr.: 24.045.767 von valueinvestor am 19.09.06 17:45:38

reduziert man die Fläche auf die tatsächlich gebohrten Löcher komme ich auf ca 800 m * 500 m,
damit reduziert sich die Menge auf ein Viertel der unten angegebenen Werte
500.000 t Kupfer
7,5 Mio Unzen Gold


jetzt sind schätzungsweise 1200 m * 500 m gebohrt. macht
750.000 t Kupfer
10 bis 11 Mio Unzen Gold (reduziert wegen niedrigerer Goldgrade)

[valueinvestor]

Antwort auf Beitrag Nr.: 25.195.437 von valueinvestor am 07.11.06 16:24:52

--- best leverage on gold price ---

Heute sea mit plus 8,19%

schaunmermal:

Top 5 Performing Gold Equities 

 (among 45 listed on the various gold indices) 

 Company Symbol Time(EST) Price Change $ Change % 

Goldcorp Inc NYSE:GG  16:02 28.67 USD +2.22 +8.39% 

Alamos Gold Inc AGI.TO 16:10 10.65 CAD +0.81 +8.23% 

Golden Star Resources Ltd AMEX:GSS 16:00 3.15 USD +0.19 +6.42% 

Yamana Gold Inc YRI.TO 16:19 13.44 CAD +0.80 +6.33% 

Kinross Gold Corp NYSE:KGC  16:01 12.46 USD +0.65 +5.50%

fürs Stockerl langt es !

[valueinvestor]

das wollte ich mal wieder zeigen. 40 Cent zum all time high.

[valueinvestor]

Here we go:

Seabridge Drilling Expands Sulphurets Gold/Copper Deposit
Monday December 18, 5:51 pm ET


Five Hole Program Intersects Down-dip and Southwestern Extensions


TORONTO, CANADA--(MARKET WIRE)--Dec 18, 2006 -- Seabridge (TSX VENTURE:SEA.V - News)(AMEX:SA - News) announced today that this summer's core drilling campaign on the Sulphurets deposit successfully tested potential strike and depth extensions. Sulphurets is one of three known gold/copper deposits at Seabridge's 100% owned Kerr-Sulphurets project located in British Columbia, Canada.

During 2006, Seabridge completed a 9,129 meter core drill program designed to expand the Kerr-Sulphurets project's known mineral resources by testing for the extensions of the Sulphurets deposit and systematically drilling the promising new Mitchell gold zone identified in previous work.

The Sulphurets deposit was originally drilled by Granduc Mines in the early 1960s, followed by Esso Minerals and Lacana/Newhawk in the 80s and early 90s. Placer Dome undertook a delineation drilling program in 1992 which led to an historic mineral resource estimation in a zone measuring approximately 1,000 meters long by 200 meters wide which lies immediately below a well defined thrust fault. Seabridge completed five core holes this summer (totaling 1,623 meters) designed to (1) extend the strike of the Sulphurets deposit to the northeast toward the Icefields target identified by Falconbridge in 2005; (2) extend the Sulphurets deposit to the southwest toward the Canyon Zone previously drilled by Placer Dome; and (3) test for the down-dip extension of mineralization within the heart of the Sulphurets deposit.

--------------------------------------------------------------------

                            From       To  Intercept   Gold  Copper

Drill Hole       Target  (meters) (meters)   (meters)  (gpt)     (%)

--------------------------------------------------------------------

S-06-01    NE Extension    146.0    160.0       14.0   0.52    0.20

--------------------------------------------------------------------

S-06-02    NE Extension        No significant intersections

--------------------------------------------------------------------

S-06-03    NE Extension     82.0     96.0       14.0   1.13    0.03

                           152.0    158.0        6.0   1.39    0.02

--------------------------------------------------------------------

S-06-04        Down-dip

              Extension    190.0    308.0      118.0   0.82    0.54

--------------------------------------------------------------------

S-06-05    SW Extension     12.0     78.0       66.0   0.72    0.04

                           102.0    128.0       26.0   1.00    0.09

                           162.0    184.0       22.0   0.91    0.08

                           218.0    228.0       10.0   0.79    0.05

                           250.0    282.0       32.0   0.59    0.02

--------------------------------------------------------------------

Results from this year's program at Sulphuret's are as follows:

All five holes were drilled from northwest to southeast at an incline ranging from minus 60 to minus 67 degrees. As the drill holes were designed to intersect mineralization perpendicular to the zone, true widths of these intercepts are believed to be close to those reported above.

Seabridge CEO Rudi Fronk said that "these results are expected to expand the Sulphurtes resource and they also point to the potential for additional mineralization which we intend to pursue in future programs."

Seabridge acquired a 100% interest in the 68.8 square kilometer Kerr-Sulphurets project from Placer Dome (CLA) Limited in June 2001. The project consisted of two deposits which were modelled separately by Placer Dome. Sulphurets is the collective name for at least four intrusive-centered gold-rich zones spanning approximately three kilometers of strike length. The mineral resource calculations made by Placer Dome for Sulphurets were confined to 1,000 meters of the three kilometer strike length. The Kerr deposit was modeled by Placer Dome as a copper-gold porphyry system. The following mineral resource estimates for these deposits, prepared and published by Placer Dome in 1993, pre-date National Instrument 43-101 and are considered historic estimates.



Kerr-Sulphurets Historic Mineral Resources

-------------------------------------------------------------
Indicated Resources
------------------------------------------
Gold Gold Cu Copper
Tonnes Grade Ounces Grade (Million
(000's) (g/T) (000's) (%) Pounds)
------------------------------------------
Sulphurets (1) 39,300 1.05 1,332 0.32 277
Kerr (2) 74,030 0.34 809 0.74 1,208
-------------------------------------------------------------
-------------------------------------------------------------
Total 113,330 0.59 2,141 0.59 1,485
-------------------------------------------------------------
-------------------------------------------------------------


-------------------------------------------------------------
Inferred Resources
------------------------------------------
Gold Gold Cu Copper
Tonnes Grade Ounces Grade (Million
(000's) (g/T) (000's) (%) Pounds)
------------------------------------------
Sulphurets (1) 15,500 0.92 458 0.33 113
Kerr (2) 66,780 0.37 794 0.76 1,119
-------------------------------------------------------------
-------------------------------------------------------------
Total 82,280 0.47 1,252 0.68 1,232
-------------------------------------------------------------
-------------------------------------------------------------

(1) Resources for Sulphurets deposit calculated at a 0.50 gram per tonne
gold cut-off grade.

(2) Resources for Kerr deposit calculated at a 0.40% copper cut-off grade.
Drilling this summer at the nearby Mitchell Zone has confirmed a third gold-copper deposit within the Kerr-Sulphurets project (see news releases dated November 7, 2006 and September 19, 2006). Following compilation of all drill results, a NI 43-101 Technical Report will be prepared for the Mitchell, Sulphurets and Kerr deposits which will include resource estimates.



Nichts weltbewegendes, wobei mit jeder Erweiterung klar wird, dass die Kerr Sulphurets das Potential für eine Mine haben.

[valueinvestor]

aus dem yahoo board - thanks keiza!

I've been trying to figure out lately which one of the 'hoarders', ie Seabridge (SA), Vista (VGZ), and Silver Standard (SSRI) is the better value. It is tricky, but here is a stab...

First, I think it is wise for investors to compare not only ounces in the ground, but the relative grades as well. Generally, these days it costs about $9 per tonne milled inclusive of development and operating costs. To get a better handle on the quality of the ounces, I take the total sum of each companies millions of tonnes for all resource categories and multiply by $9 to get a rough cost figure. The next step is to multiply the in-situ resources by market prices and then divide the market value of the common stock to get a rough value per dollar of market cap.

So, take SSRI for example, it has about 551 million tonnes of material containing 1.16 billion ounces of silver and 4.71 million ounces of gold. 551 million tonnes * 9 implies a total cost of $5 billion. After adjusting SSRI's stock value for its cash position, I find that one dollar of its common commands about $10.05 in resource value.

For SA, I assume that the Mitchell deposit has an average grade of .8 g/t of gold and .2% copper, yielding an aggregate of 5 million ounces of gold and 1.2 billion pounds of copper. Combine this with an added update of Courageous Lake of another 2 million ounces. Next, I use all the current historical estimates to arrive at a total resource of SA at 25.37 million ounces of gold, 4 billion pounds of copper in 723 million tonnes of material. The cost is therefore 723 million tonnes * 9 per tonne = $6.5 billion. At $625 gold, $2.80 copper, the in-situ value of resources in the ground is $27 billion. So, a total value of SA is $20.54 billion. Divide this by the market value of $.5 billion for SA, and you get a value of $41.09.

I won't go through the specifics of VGZ, but with them I get a value of $18.62. So in summary, SSRI gets you $10.05 of resources per dollar of market cap, VGZ gets you $18.62, and SA gets one a whopping $41.09. Thus, by this metric, SA remains very extremely undervalued compared to its piers in the 'hoarder' sector!

[valueinvestor]

Antwort auf Beitrag Nr.: 26.490.580 von valueinvestor am 27.12.06 11:19:58

New Mineral Resource Estimate Completed for Seabridge Gold's Courageous Lake Project
TUESDAY, JANUARY 09, 2007 8:03 AM

TORONTO, ONTARIO, Jan 09, 2007 (MARKET WIRE via COMTEX) -- Seabridge Gold Inc. (CA:SEA) (SA) -

A new, independent mineral resource model for Seabridge Gold's 100% owned Courageous Lake project in Canada's Northwest Territories has significantly increased total ounces of gold and potentially enhanced the project's potential economics. The new model, prepared by Resource Modeling Inc. ("RMI") of Tucson, Arizona, incorporates all exploration activities at the project since the last resource model was completed in December 2004. Global gold resources are now estimated as follows:

          Courageous Lake Gold Resources at 0.83 gram per tonne cutoff

--------------------------------------------------------------------------

--------------------------------------------------------------------------

         Measured                 Indicated                 Inferred

--------------------------------------------------------------------------

--------------------------------------------------------------------------

Tonnes    Grade   Ounces    Tonnes    Grade   Ounces     Tonnes   Grade    Ounces

(000's)    (g/T) (000's)   (000's)    (g/T) (000's)    (000's)   (g/T)   (000's)

--------------------------------------------------------------------------

--------------------------------------------------------------------------

 6,293     2.92      591    53,020     2.14    3,648     93,720    1.98     5,966

--------------------------------------------------------------------------

--------------------------------------------------------------------------

Seabridge Gold President and CEO Rudi Fronk said the new model "includes an additional 15,689 meters of core drilling since our last model and reflects a substantial improvement in our understanding of the geologic controls that define the distribution of gold within the deposit. Based on the 14% increase in contained ounces, we are confident that the economics of the project will improve due to a material increase in expected mine life. A significant proportion of the increase in resources is from new zones identified on the west side of the deposit which should allow for a larger and deeper pit incorporating a higher percentage of the deposit's global resource. This new resource model will be used to update the September 2005 Preliminary Economic Assessment of the Courageous Lake deposit. The update is scheduled for completion by mid-year."

The new resource model constructed for the Courageous Lake deposit now incorporates data from a total of 488 holes drilled by Seabridge, Noranda and Placer Dome totaling 131,338 meters. Approximately two thirds of the total drilled meterage (86,810 meters) was assayed for gold by the three companies. Gold mineralization within the Courageous Lake deposit is hosted in the upper part of an assemblage of Archean age felsic pyroclastic rocks, just below a transition zone to volcanoclastic and sedimentary rocks. During RMI's site visits, drill core was inspected against assay and geologic logs to verify the logging practices. The assay data provided in the electronic databases by Seabridge were randomly compared by RMI to certified assay lab sheets and were found to be accurately entered. No bias was found by RMI in the check assay results that were made available by Seabridge. RMI reviewed the QA/QC procedures implemented by Seabridge during its 2004, 2005 and 2006 exploration programs and found them to meet industry standards. RMI concluded that it had no reason to believe that the QA/QC procedures implemented by Noranda and Placer Dome during their exploration campaigns did not meet industry standards. RMI determined that exploration data from Seabridge's 2004-2006 campaigns and data from historical programs were collected and analyzed by reputable drilling and analytical firms and are suitable to be used for estimating mineral resources.

Similar to the 2004 estimate (also completed by RMI), block model gold grades in the new Courageous Lake resource model were estimated using an inverse distance weighting interpolation procedure. Grade estimation in the new model was restricted to rigorously constructed mineralized zones (known as "wire-frames") that were originally defined by Placer Dome, and later revised by Seabridge using geologic and mineralogic controls along with new drill data. These zones generally strike north-south and dip steeply to the west.

Individual assays were capped within each zone prior to compositing the assay data. The estimated block grades were then classified into Measured, Indicated, and Inferred Mineral Resource categories using distance to drilling data and the number of drill intersections. Measured Resources were defined for blocks estimated by two or more drill holes provided that at least one sample was within five meters of the block. Indicated Resources were defined by blocks estimated by two or more drill holes with at least one sample within 22 meters of the block. Inferred Mineral Resources were defined by blocks estimated by at least one drill hole with a maximum allowable assay projection distance of 60 meters. Due to a number of unassayed Noranda drill hole intervals, RMI reduced the amount of Inferred Mineral Resources in localized areas associated with unassayed core holes. RMI has recommended that Seabridge undertake a drilling program to test some of these areas for possible additional resources. It is RMI's opinion that the new resource model is globally unbiased and locally reflects the grade of nearby drill hole composites.

The following table provides global resource estimates from the new model at various gold cutoff grades:

Comparison of Courageous Lake Resources at Various Cutoff Grades

-------------------------------------------------------------------------

               Measured              Indicated                Inferred

        ------------------------------------------------------------------

Cutoff Tonnes   Grade Ounces   Tonnes    Grade Ounces    Tonnes   Grade Ounces

Grade     (000)   (g/T)   (000)    (000)    (g/T)   (000)     (000)   (g/t)   (000)

(g/T)

-------------------------------------------------------------------------

0.50     7,730    2.50     621   73,386     1.73   4,082   137,760    1.55   6,865

-------------------------------------------------------------------------

0.55     7,483    2.57     618   69,981     1.79   4,027   129,964    1.62   6,769

-------------------------------------------------------------------------

0.60     7,228    2.64     613   66,508     1.85   3,956   122,373    1.68   6,610

-------------------------------------------------------------------------

0.65     6,989    2.71     609   63,154     1.91   3,878   115,230    1.75   6,483

-------------------------------------------------------------------------

0.70     6,749    2.78     603   60,003     1.98   3,820   108,453    1.81   6,311

-------------------------------------------------------------------------

0.75     6,563    2.84     599   57,188     2.04   3,751   102,434    1.88   6,191

-------------------------------------------------------------------------

0.83     6,293    2.92     591   53,020     2.14   3,648    93,720    1.98   5,966

-------------------------------------------------------------------------

1.00     5,745    3.12     576   45,152     2.35   3,411    78,195    2.19   5,506

-------------------------------------------------------------------------

1.50     4,471    3.65     525   29,684     2.94   2,806    48,053    2.80   4,326

-------------------------------------------------------------------------

2.00     3,581    4.13     475   20,338     3.51   2,295    31,028    3.39   3,382

-------------------------------------------------------------------------

2.50     2,806    4.65     419   14,169     4.06   1,850    21,093    3.94   2,672

-------------------------------------------------------------------------

3.00     2,180    5.20     364    9,989     4.62   1,484    14,745    4.47   2,119

-------------------------------------------------------------------------

The cutoff grade for resource estimation was set at 0.83 grams per tonne based upon the operating cost estimates in the September 2005 Preliminary Economic Assessment and a gold price of US$450 which was considered appropriate at that time.

[valueinvestor]

Antwort auf Beitrag Nr.: 26.791.412 von valueinvestor am 09.01.07 14:24:25

Insiderkauf:
CEO Rudi Fronk gibt die Hälfte seines in $ ausbezahlten Jahresgehaltes aus um 11.000 Seabridge Aktien für 11,80 zu kaufen.

Starkes Signal.

[GeldkommtzuGeld]

Hallo value,

Zitat von Jens Ehrhardt aus comdirect Journal 1 07

"Gold wird 2007 locker über 1000 Dollar steigen"

i.V.m. Deinem Post vom 31.12.05 -je 50 USD Goldanstieg 7 USD im SA-Kurs- leite ich ein Kursziel von 40 USD ab.

Irgendwelche Einwände ?

[valueinvestor]

Es ist die Macht dieser Zahlen, die mich die Kursschwankungen ziemlich geruhsam aussitzen lässt. Immerhin hat sea bei mir sich schon auf fast 20% Depotvolumen hochgesteigert und ich fahre sonst eigentlich eher Papiere mit geringer Volatilität.

[valueinvestor]

5% runter, weil die letzten 4 Löcher in der Mitchell Zone außerhalb lagen.
http://www.marketwatch.com/news/story/drill-program-analysis…

In June 2006, Seabridge commenced a 9,100 meter core drill program at Kerr-Sulphurets designed to expand the project's known gold resource by testing for the strike and depth extensions of the Sulphurets deposit and by systematically drilling the promising new Mitchell gold zone identified in previous work. All drilling and assaying is now complete with 24 holes (7,506 meters) drilled at Mitchell and five holes (1,623 meters) drilled at Sulphurets.
The drilling at Mitchell has confirmed a continuously mineralized gold-copper zone measuring 1,600 meters long, 800 meters wide and at least 300 to 400 meters thick. This zone is now the subject of an initial resource estimate by Resource Modeling Inc. of Tucson, Arizona. Metallurgical studies by G&T Metallurgical Services Ltd. of Kamloops, B.C. are also in progress.
Based on the 2006 program, Seabridge geologists have identified two potential expansions of the Mitchell deposit - a western extension offset to the south and a southern extension of the entire zone. Drill holes M-06-16, M-06-18 and M-06-21 through M-06-23 were designed to test the west side of the deposit and failed to intersect significant mineralization. However, drill hole M-06-19 and historical drill hole S91-396 located further to the south of these holes re-entered mineralization similar to the Mitchell deposit suggesting that the west strike extension of the Mitchell deposit was off-set to the south and is preserved under the regional thrust fault.(...)
The entire Mitchell zone appears to be open to the south. Two of the best holes drilled to date, M-06-09 and M-06-17, were the most southern holes drilled thus far. Both gold and copper grades for these two holes were above the weighted average for the 2006 drill program. Seabridge President and CEO Rudi Fronk said that "we are planning an aggressive new drill program for the summer of 2007 designed to test the southern extension and also the western offset. We believe it is possible that the Mitchell and Sulphurets deposits could be separately exposed portions of the same gold-copper mineralized zone or system, and the untested, blind area beneath the Sulphurets thrust fault offers attractive exploration potential."





Rückseite Briefumschlag:

gewichtet Gold 0,78gr/t gewichtet Kupfer 0,2%
Länge mal Breite mal Dicke mal spezifisches Gewicht:
1600 * 800 * 350 * 2,75 = 448 Millionen Tonnen

=> 349 Mio gr Gold = 11,2 Mio Unzen Gold
=> 89,6 Mio kg Kupfer = 1,98 Mia lb Kupfer

ich liege damit im Rahmen von dem, was auch Keizaigakusha auf yahoo ausgerechnet hat.

Mit 3 Jahresdurchschnittswerten für die Metallpreise, wie es die SEC vorschreibt, komme ich auf:

0,78 gr => 12,54 $/t
0,2% Cu => 4,42 lb Cu 9,97$/t
Gesamtwert 22,52 $/t

zu Marktpreisen 16,10 + 11,47 = 27,6$/t

das beste Loch 1,05gr/0,33% kommt zu Marktpreisen auf 21,68$ + 16,46$ auf 38,14$
Die guten Löcher liegen am Rand, spannend, was unter der Kuppe liegt - siehe Bild 2.

Mit 3 Jahresdurchschnitten gerechnet folgende Äquivalentwerte:

1,4 gr Gold
oder 0,45% Cu

Vom Kupferwert her meiner Meinung nach nicht ausreichend, der Charme kommt, wie bei Seabridge üblich vom Gold. Mit der Annahme eines steigenden Goldpreises ist Mitchell richtig sexy, und es ist das 2. 10 Mio Unzen Depot im Portfolio - ich weiß nicht, wer so was im Angebot hat.
Das der Kurs baden geht, wenn 5 Löcher komplett draußen sind, sollte nicht verwundern.

[byron1000]

Antwort auf Beitrag Nr.: 27.290.116 von valueinvestor am 30.01.07 10:13:37

Zeit zum NAchkauf?

[valueinvestor]

TORONTO, CANADA--(CCNMatthews - Feb. 05, 2007) - Seabridge Gold Inc. (TSX VENTURE:SEA)(AMEX:SA) -

Using High Pressure Grinding Rolls technology ("HPGR") at Courageous Lake could reduce crushing and grinding costs by US$1.37 per tonne, or 25%, according to an independent trade-off study conducted by Wardrop Engineering of Vancouver. The study was commissioned by Seabridge as part of the updating of its 2005 Preliminary Assessment of its 100% owned Courageous Lake project located in the Northwest Territories (see news release dated September 21, 2005).

The 2005 Preliminary Assessment proposed using a conventional SAG mill circuit (SABC) for crushing and grinding. The Waldrop study estimates that replacing the SABC with HPGR crushing equipment reduces overall energy consumption by 7 kWh/t, resulting in a power saving of US$1.12 per tonne, assuming a power generation cost of US$0.16/kWh. Other consumables are reduced a further US$0.25 per tonne.

Wardrop estimates the capital cost for the HPGR option to be approximately US$9.0 million more than the SABC option. However, at a proposed production rate of 9.0 million tonnes per year, and a total projected savings of US$1.37 per tonne, the payback period for the HPGR circuit is less than one year. In addition to the projected operational cost savings, Waldrop estimates that the introduction of HPGR technology could improve mill process availability from a level of 92% to 96%.

Since the Preliminary Assessment was completed in 2005, Seabridge Gold has significantly increased gold resources at Courageous Lake (see news release dated January 9, 2007). As a result, Seabridge is in the process of updating the Preliminary Assessment to include the new resources which are expected to materially increase the estimated mine life of the project. As part of the planned update, Seabridge has commissioned a number of additional studies to assess alternative technologies which could improve the overall economics of the project including alternate power supply options.

The HPGR Study was conducted under the supervision of T.J. Smolik of TJS Mining-Met Services Inc., who is independent of Seabridge and is a Qualified Person as defined by NI 43-101. T.J. Smolik will also coordinate the various studies needed to update the Preliminary Assessment of the Courageous Lake Project, expected to be completed by mid 2007.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/Resource.htm.
------
Das könnte die Produktionskosten um 20$ die Unze drücken. Guter Hebel.

@byron Timingfragen sind immer schwer. Mittelfristig ist sicher die 650$ beim Goldpreis eine wichtige Hausnummer.

[valueinvestor]

Antwort auf Beitrag Nr.: 27.443.448 von valueinvestor am 05.02.07 14:59:25

Der Markt ist eine Schlafmütze. Erst jetzt zieht der Kurs deutlich an.

[valueinvestor]

Optionsschein ohne Verfall!
Daxvestor – 14. Februar 2007 – 13:39
Seabridge Gold bleibt die intelligenteste Spekulation für Gold-Bullen. Denn bei steigendem Goldpreis entfaltet die Aktie eine enorme Hebelwirkung.

Seit unserer letzten Empfehlung im August ist die Aktie von Seabridge Gold in eine volatile Seitwärtsbewegung übergegangen und hat damit quasi die Preisentwicklung des Basiswerts mit entsprechend größeren Schwankungen nachgebildet.

Zur Erinnerung: Seabridge hat seit 1999 Gold-Ressourcen in brachliegenden Minen (der Goldpreis war damals sehr niedrig) gehortet und sucht sich nun Partner, welche die besonders für kleine Player kostspielige Produktion übernehmen.

Nach wie vor erachten wir dieses Geschäftsmodell als sehr aussichtsreich.

Die aktuelle Situation

In den letzten Wochen entwickelte die Aktie allerdings eine relative Schwäche gegenüber der Goldpreisentwicklung.

Der Grund: Die erfolgsverwöhnten Aktionäre quittierten fünf Fehlbohrungen im Westen der Mitchell-Formation mit verstärkten Verkäufen, die den Kurs um fünf Prozent nach unten drückten.

Enorme Hebelwirkung

Doch das sind nur Momentaufnahmen: Der eigentliche Charme der Aktie liegt
weiter im vorhandenen Goldportfolio mit rund 17 Millionen Unzen. Daraus ergibt sich bei steigendem Goldpreis ein gewaltiger Hebeleffekt auf die Aktie. Über den Daumen gepeilt, können Sie sich an folgende Richtschnur halten: Bei einem Anstieg des Goldpreises um 50 US-Dollar steigt die Aktie von Seabridge um acht US-Dollar.

Die Insider sind ebenfalls weiter von der Aktie überzeugt. CEO Rudi Fronk kaufte jüngst beim Kurs von 11,80 US-Dollar 11.000 Seabridge Aktien zu, was einer Investition von knapp 130.000 US-Dollar entspricht.

Kaum externe Risiken

Natürlich ist die weitere Entwicklung der Seabridge-Aktie vom Goldpreis abhängig. Aber - und das ist das Entscheidende - darüber hinaus gibt es weder politische Risiken (Projekte sind in Nordamerika) noch Produktionsrisiken (finanzstarke Partner übernehmen Risiken gegen Beteiligung).

Unser Fazit

Das besondere Geschäftsmodell macht Seabridge zu einer Art Optionsschein ohne Verfallsdatum auf einen steigenden Goldpreis.

[valueinvestor]

!!! 13 Millionen Unzen Gold in der Mitchell Zone !!!

TORONTO, ONTARIO, Feb 20, 2007 (CCNMatthews via COMTEX) -- Seabridge Gold (CA:SEA: news, chart, profile) (SA : seabridge gold inc com


SA13.73, +0.33, +2.5%) announced today that a National Instrument 43-101 compliant study of its Mitchell gold-copper discovery has confirmed a major new resource which may have significant expansion potential. The study by Resource Modeling Inc. ("RMI") of Tucson, Arizona will be filed on SEDAR within 45 days. The Mitchell porphyry is located on Seabridge's 100% owned Kerr-Sulphurets project near Stewart, British Columbia.
At Mitchell, RMI estimates an Inferred Mineral Resource of 564 million tonnes grading 0.72 grams per tonne gold (13.1 million ounces) and 0.18% copper (2.23 billion pounds) at an equivalent gold cut-off grade of 0.50 grams per tonne gold. Equivalent grades were determined using a gold price of US$475 per ounce and a copper price of US$1.50 per pound. The deposit is currently defined by diamond core holes that were drilled on approximately 200-meter centers. The estimate of Mineral Resources is based on 9,530 meters of core drilling, including 23 holes (7,476 meters) drilled by Seabridge at Mitchell during 2006.
Seabridge President and CEO Rudi Fronk said that "it now appears that Seabridge wholly owns two major North American gold deposits - Courageous Lake and Mitchell. This year's programs will focus on advancing both by updating the Preliminary Assessment at Courageous Lake and continuing to drill at Mitchell to expand and upgrade the resource, as well as conducting metallurgical studies to determine expected metal recoveries. We could not be more encouraged by our prospects for value creation in 2007."
The Mitchell deposit is situated at the base of the Mitchell Glacier within an erosional window through the major fault complex that crosses the property. The volcanic rocks exposed in the erosional window are affected by intense phyllic alteration which diminishes to the west. This conspicuous alteration is characterized by abundant sericite, 5 to 20% pyrite and quartz stockwork veins that locally exceed 80% of the rock mass. Gold and copper are associated with fine grained sulfide minerals, dominated by chalcopyrite, disseminated in the rock and stockwork veins. Gold and copper grades in the drill results are remarkably consistent down hole, along and across strike. This homogeneity of grades and the lack of sharp grade contrasts across the Mitchell deposit probably resulted from widespread regional deformation subsequent to mineralization.
RMI constructed a three-dimensional computer block model using MineSight(R) software. A block size of 25 meters by 25 meters by 15 meters was selected and is thought to be appropriate at this stage of the project. Several high-grade gold and copper outlier values were cut to 2.5 grams per tonne and 0.80%, respectively prior to creating 15 meter-long drill hole composites. Grade and indicator variograms were calculated and interpreted for both gold and copper. RMI notes that gold and copper display exceptionally long ranges but additional infill drilling will be required in order to evaluate short range grade variability. Block grades were estimated using several interpolation methods including nearest neighbor, inverse distance squared, and ordinary kriging. Seabridge geologists constructed a three-dimensional wireframe which represents a zone of intense sericitic alteration and appears to be one of the primary controls associated with gold and copper mineralization at Mitchell. This wireframe was used to constrain the estimate of block grades. After visual and statistical reviews of the estimated block grades, RMI selected the inverse distance squared and ordinary kriged estimates for the gold and copper grade models, respectively. Block grades that were estimated by two or more drill holes with at least one hole within 125 meters of the block were classified as Inferred Mineral Resources. All other estimated blocks remain unclassified at this time. Additional drilling, more density determinations, updated topography, and ongoing metallurgical testwork will be required to upgrade the current Inferred Mineral Resources to higher confidence categories. Inferred Mineral Resources for the Mitchell deposit are summarized in the table below at a variety of gold equivalent cutoff grades.

Mitchell Deposit Inferred Mineral Resources
------------------------------------------------------------------------
Gold Equivalent Gold Grade Ounces of Copper Pounds of
Cut-Off Grade Tonnes (grams/tonne) Gold Grade Copper
(grams/tonne) (000s) (000s) (%) (000s)
------------------------------------------------------------------------
0.25 705,349 0.62 14,060 0.156 2,417,386
------------------------------------------------------------------------
0.30 661,954 0.64 13,621 0.163 2,376,624
------------------------------------------------------------------------
0.35 627,749 0.67 13,522 0.169 2,334,064
------------------------------------------------------------------------
0.40 599,799 0.69 13,306 0.173 2,292,273
------------------------------------------------------------------------
0.45 580,004 0.70 13,053 0.177 2,261,364
------------------------------------------------------------------------
0.50 563,873 0.72 13,053 0.180 2,230,783
------------------------------------------------------------------------
0.55 548,045 0.73 12,863 0.182 2,200,778
------------------------------------------------------------------------
0.60 534,033 0.74 12,705 0.185 2,172,758
------------------------------------------------------------------------
0.65 518,545 0.75 12,504 0.187 2,139,459
------------------------------------------------------------------------
0.70 500,979 0.76 12,241 0.190 2,097,900
------------------------------------------------------------------------
0.75 479,533 0.77 11,871 0.193 2,044,027
------------------------------------------------------------------------

NOTE: gold equivalent cut-off grades were calculated using US$475 per
ounce gold and US$1.50 per pound copper

RMI notes that the limits of the Mitchell deposit have not yet been determined and that it appears to be open up dip (south) and down dip (north) and perhaps to the east with reasonable expectations of increasing the inventory of Mineral Resources.
RMI reviewed the QA/QC procedures implemented by Seabridge during its 2006 exploration program and found them to meet industry standards. Seabridge geologists submitted one blank and one standard reference sample at a frequency of one each per every 35 core samples that were shipped to Ecotech's prep lab in Stewart BC. RMI has reviewed the performance of those standard reference samples and has determined that in general, the performance of the lab is reasonable. 333 Ecotech pulps were shipped to ALS Chemex in Vancouver and assayed for gold, copper, and other metals. The results from those check assays show that the Ecotech lab is about 5% higher for gold and about 3% lower for copper than ALS Chemex. RMI has recommended that Seabridge perform additional check assays from the 2006 drill campaign.
The RMI resource estimate for the Mitchell deposit triggers the vesting of 2.0 million common share purchase warrants issued to Xstrata plc and exercisable at $13.50 per share for a period of five years. These warrants complete the agreement whereby Seabridge re-acquired a 100% interest in the Kerr-Sulphurets project (including the Mitchell deposit) from Xstrata (see news release of September 5, 2006).

[valueinvestor]

@ byron JETZT!!!

Das ist mit Sicherheit eine der größten Entdeckungen des Jahres und das Forum schläft....

Mit den Produktionskosten von Galore Creek (Nova) errechnet sich zu gegenwertigen Preisen ein Wert von 41 $ je Aktie (rüberkopiert mit Dank an Keizaigakusha)

In summary, using a $2 billion start up cost, 5-year permitting and construction phase, 5% discount rate, 40% tax rate, 75,000 tonne per day milling at $6.50 a tonne of operating cost, .72 g/t of gold and .18% of copper, 90% metullurgical recovery rate, here is the net present value of the Mitchell deposit over a variety of gold / copper values:

$650 gold, $2.50 copper: $1.639 billion, $41 a share.
$600 gold, $2.50 copper: $1.470 billion, $36.75 a share.
$550 gold, $2.50 copper: $1.301 billion, $32.25 a share.
$700 gold, $2.50 copper: $1.807 billion, $45.17 a share.
$650 gold, $1.50 copper: $1.002 billion, $25.05 a share.

Ich würde allerdings nicht mit 5% diskontieren, 7,5 wären realistischer. Zu 5% bekommst du sicher kein Fremdkapital, um eine Mine zu bauen...

[byron1000]

Antwort auf Beitrag Nr.: 27.854.573 von valueinvestor am 20.02.07 18:31:30

Hi Value,

danke nochmal für den Hinweis! Bin ja schon an Bord! WErden zwar keine 1000 wie bei dir, aber mit ein paar Krümel lebe ich auch hervorragend

Gruß Byron

[valueinvestor]

5 Cent zum All Time High!




Das hatte ich in #216 ausgerechnet:
Rückseite Briefumschlag:

gewichtet Gold 0,78gr/t gewichtet Kupfer 0,2%
Länge mal Breite mal Dicke mal spezifisches Gewicht:
1600 * 800 * 350 * 2,75 = 448 Millionen Tonnen

=> 349 Mio gr Gold = 11,2 Mio Unzen Gold
=> 89,6 Mio kg Kupfer = 1,98 Mia lb Kupfer

Warum der Markt es erst jetzt kapiert?

[valueinvestor]

Antwort auf Beitrag Nr.: 27.864.979 von valueinvestor am 20.02.07 23:23:56

Jede Seabridge Aktie steht mittlerweile für 0,89 Unzen Gold.

[valueinvestor]

Antwort auf Beitrag Nr.: 27.865.209 von valueinvestor am 20.02.07 23:59:10

uncharted area, wir haben ein neues Allzeithoch!

[valueinvestor]

Seit ein paar Monaten gibt es von ConSors immer den personal investment report und jedes mal in den letzten Monaten lag Seabridge unten rechts in der Aktienpunktwolke - keine Performance und hohe Volatilität und zu hohem Depotanteil. Das wäre ein gefundenes Fressen für jeden drittklassigen Bänker, der dir mit der Portfoliotheorie irgendeinen belgischen Versorger ins Depot drücken will und wissend nickt, die Performance hinkt und die Vola vom Depot ist viel zu hoch. Diesen Monat aber drehe ich den Spieß um!

[byron1000]

Seabridge Gold "strong buy"

Thursday, February 22, 2007 5:39:06 AM ET
JM Dutton & Associates

NEW YORK, February 22 (newratings.com) - Analyst Les W Childress of JM Dutton reiterates his "strong buy" rating on Seabridge Gold Inc (ticker: SA). The 12-month target price is set to $20.

In a research note dated February 21 and published this morning, the analyst mentions that the company has indicated that its Mitchell gold and copper discovery has significant expansion potential. The compliant study conducted by Resource Modeling indicates the presence of 13.1 million ounces at Mitchell, which indicates that it is a world-class asset, the analyst adds. According to JM Dutton, there is a possibility of several million additional ounces to be present at Mitchell.

[valueinvestor]

Antwort auf Beitrag Nr.: 27.899.914 von byron1000 am 22.02.07 15:51:27

Eine Meldung aus dem canadian mining journal



GOLD-COPPER RESOURCE - 13M oz Au and 2.2B lb Cu inferred at Mitchell porphyry

BRITISH COLUMBIA - Toronto’s SEABRIDGE GOLD says there may be as much as 13.1 million oz of gold plus 2.23 billion lb of copper in the Mitchell porphyry at its Kerr-Sulphurets project near Stewart. The latest NI 43-101 report puts inferred resources at 564 million t grading 0.72 g/t Au and 0.18% Cu.

Seabridge president and CEO Rudi Fronk said, “It now appears that Seabridge wholly owns two major North American gold deposits, Courageous Lake and Mitchell. This year’s programs will focus on advancing both by updating the preliminary assessment at Courageous Lake and continuing to drill at Mitchell to expand and upgrade the resource, as well as conducting metallurgical studies to determine expected metal recoveries. We could not be more encouraged by our prospects for value creation in 2007.”

The Mitchell deposit is situated at the base of the Mitchell Glacier within an erosional window through the major fault complex that crosses the property. The volcanic rocks exposed in the erosional window are affected by intense phyllic alteration that diminishes to the west. This conspicuous alteration is characterized by abundant sericite, 5-20% pyrite, and quartz stockwork veins that locally exceed 80% of the rock mass. Gold and copper are associated with fine-grained sulphide minerals dominated by chalcopyrite, disseminated in the rock and stockwork veins. Gold and copper grades in the drill results are remarkably consistent down-hole, along- and across-strike, according to Seabridge.

[byron1000]

Antwort auf Beitrag Nr.: 27.905.117 von valueinvestor am 22.02.07 18:27:42

Value,

weißt du ob bei Courageous Lake und Mitchell im Moment Arbeiten stattfinden können?

[valueinvestor]

Antwort auf Beitrag Nr.: 27.910.544 von byron1000 am 22.02.07 21:42:05

Das da ganz unten waren die Meldungen des letzten Jahres. Courageous Lake ist, wie einer auf yahoo so schön geschrieben hat dort, wo dir die Eier abfrieren. Also kann man dort nur im Sommer bohren. Nun bin ich natürlich überrascht über den Kurssprung, denn mit ganz einfachen Basisrechenarten habe ich schon früh rausbekommen, wie groß Mitchell wirklich ist. Was noch ansteht ist das Update zur Pre feasability study zum CL. Dort hat das Sommerbohrprogramm die Goldmenge um 14% gesteigert. Ziel war es, das Minenleben um 50% auf 12 Jahre zu steigern. Daher lesen sich die 14% erst mal schlecht, aber im bisherigen Minenplan ist nicht alles erfasst, was durch Bohrungen bereits gefunden wurde. Konkret sollen im Plan 4,36 Mio Unzen abgebaut werden, da sind aber 8,95 Mio plus die 14%, die im bisherigen Plan als Abfall betrachtet wurden. Mithin kann es also passieren, dass im CL Update durch ein verändertes Design des Open Pit plötzlich Bereiche abgebaut werden können, deren Gold bisher nicht erschlossen wurde. Wenn der Markt bei den Mitchell Ergebnissen 2 und 2 nicht zusammenzählen konnte, gehe ich stark davon aus, dass er die Rechnung +14% Resourcen = +50% Minenlebensdauer noch gar nicht kapiert. Allerdings bin ich da noch sehr im Vagen, aber die Lebensdauer der Mine wird nach den Formulierungen der Meldung sicher deutlich mehr als 14% steigen. Ich rechne mit mindestens 10,5 Jahren statt der 8,5. Diese Meldung steht bald (irgendwann im Frühjahr) an und wird der nächste große Event mit Überraschungspotential für den Kurs. Ansonsten kann man
a) im Drilling für 2007 sicher die Qualität der Bohrergebnisse im CL erhöhen Stichwort proven and probable oder messured an Stelle von inferred. Das dürfte ziemlich einfach sein.
b) könnte in Nevada eine positive Überraschung anstehen, wenn dort gebohrt wird. Erwartungshaltung bisher gleich Null.
c) gibt es noch das 2. Bild in Posting #216. Was liegt unter dem Berg? Wie tief? Ich mag mir gar nicht vorstellen, was passieren könnte, wenn Kerr und Sulphurets ein zusammenhängendes Porphyry System wären. Die Pfeile bei der Mitchell Zone zeigen, dass das Teil noch deutlich größer sein kann. Das Bohrloch ganz links in der Mitchell Zone hat die höchsten Grade.



December 18 — Seabridge Drilling Expands Sulphurets Gold/Copper Deposit

November 13 — Seabridge Gold Files Third Quarter Financial Statements, MDA and Report to Shareholders

November 7 — Latest Seabridge Drill Results Expand New Mitchell Gold-Copper Deposit

October 10 — Seabridge Drilling Expands Courageous Lake Gold Deposit — Further Mineralization Found in Western Part of Projected Pit

September 19 — Seabridge Confirms Large Gold-Copper System at Mitchell — Current Drilling at Kerr-Sulphurets Focusing on Resource Delineation of New Zone

July 18 — Drilling Underway at Seabridge Gold’s Kerr-Sulphurets Project — 7,500 Meter Core Program to Test Four Gold Targets

June 30 — Seabridge Gold Closes C$3.6 Million Flow-Through Financing — Proceeds to Fund 7,500 Meter Drill Program at Kerr-Sulphurets

June 22 — Seabridge Gold Begins Summer Drill Program at Courageous Lake

June 21 — Seabridge Drilling Confirms Gold Zones North of FAT Deposit

June 15 — Seabridge to Drill Gold Targets at Kerr-Sulphurets — 7,500 Meter Core Program Expected to Commence this July

June 7 — Courageous Lake Drilling Encounters Gold Mineralization West of the FAT Deposit

May 3 — Courageous Lake Drilling Yields Exceptional Assays — Results Expected to Improve Average Grade of FAT Deposit

April 28 — Seabridge Completes Acquisition of Noche Buena Gold Project — Independent 43-101 Technical Report to be Filed

April 27 — Seabridge Gold Re-Acquires 100% Interest in Kerr-Sulphurets Project — Drill Program Planned for 2006 to Test Mitchell Gold Zone

April 3 — Seabridge to Acquire Noche Buena Gold Project — Independent 43-101 Technical Report to be Filed

February 21 — Seabridge Gold Identifies New Target at Four-Mile Basin — 2006 Drill Program Designed to Test High Grade Vein Potential

February 16 — Seabridge Gold Commences Drilling at Courageous Lake — Four Rig Program Designed to Increase Resources, Expand Project Life

February 7 — Seabridge Gold Mobilizes Drill Rigs for 15,000 Meter Program at Courageous Lake

[byron1000]

Antwort auf Beitrag Nr.: 27.911.526 von valueinvestor am 22.02.07 22:11:36

Danke für die schnelle Antwort! Hatte es fast schon "befürchtet", dass im Moment nicht viel geht! Wenn sich aber nur ein Teil deiner Vermutungen bestätigen würde, dann wird es wirklich so langsam unheimlich ..............................gut

[valueinvestor]

Meine erste Position ist heute ein 8,5-Bagger.
Ziel 14,57 Euro, dann ists mein erster Tenbagger!

[konradi]

.

und ich darf voller Stolz meinen ersten tenbagger vermelden

Gruß an alle Investierten und weiterhin viel Glück !

Konradi

[Que-Sera]

Antwort auf Beitrag Nr.: 27.944.675 von konradi am 24.02.07 16:24:16

Kann leider nur knapp 20% nach durchschnittlich zwei Wochen vermelden, aber ist ja auch nicht schlecht .

Sagt mal, wie ist denn das mit der Konkurrenzsituation? Wenn da der Goldpreis so bei 700 oder 800$ angekommen ist, werden dann nicht zahllose andere mittelprächtige Minenfelder wiederentdeckt werden, so dass man da eine regelrechte Überschwemmung befürchten muss? Wie einzigartig ist denn das, was SA da im Portfolio hat? Ob das wohl für mich auch noch zu Tenbagger reicht?

[valueinvestor]

Antwort auf Beitrag Nr.: 27.946.125 von Que-Sera am 24.02.07 20:08:52

Zum einen liegen die Properties von Seabridge in Kanada und den USA. Der Goldpreisanstieg wird mit einer Dollarschwäche Hand in Hand gehen, da nützt es wenig, wenn die Produktionskosten in Rand anfallen, das Produkt aber mit Dollar bezahlt wird.
Gemeinhin wird immer unwidersprochen behauptet, C. Lake sei das größte nicht entwickelte Goldprojekt des nordamerikanischen Kontinents. Das stimmt nun definitiv nicht mehr. Die Mitchell Zone und die gesamten Kerr Sulphurets sind größer. Aber die Frage in die Runde: Kennt jemand größere Projekte in pol. stabilen Ländern?
In Unzen je Aktie ist Seabridge auf jeden Fall spitze.

[konradi]

Genauso ist es, ulfur - Newmonts proven + probable reserves in Nevada betragen 33,3 Mio oz :
http://www.newmont.com/en/operations/nthamerica/nevada/index… Gruß K.

[konradi]

.., tja, wenn man zuviele Fenster nebeneinander aufgeklappt hat, bringt man schon mal ein paar Namen durcheinander - also sorry, valueinvestor + besten Dank für Deine stets akkuraten Recherchen ! Konradi

[valueinvestor]

Na, mit ulfur verwechselt zu werden könnte man sich ja auch als Ehre anrechnen lassen. Mit ihm bin ich bei Crew Gold zusammen.

[konradi]

... weiß ich doch !

[valueinvestor]

Habe mal beim Cheffe nachgefragt. In Nevada hat man (zu) lange auf die Bohrgenehmigungen gewartet, für Golden Arrow sind sie jetzt da, für 4 Mile Bassin werden sie erwartet. Bohrungen also in 2007.
Natürlich wird Mitchell weiter gebohrt und es soll auch ein Upgrade der Resourcen in Messured and Indicated stattfinden. Dagegen wird CL dieses Jahr nicht gebohrt, sondern es kommt nur die neue Preliminary Assessment Study mit der verlängerten Minenlebensdauer. Man erwartet ein "signficant improvement in the economics". Sieht so aus, als hätte man CL damit vorerst fertig. Dies passt zu den Gerüchten in US Boards, das für den CL bald ein Partner vorgestellt werden soll.

[valueinvestor]

Top 5 Performing Gold Equities
(among 47 listed on the various gold indices)
Company Change %
Western Areas Limited +0.00%
Witwatersrand Cnsldtd Gold Rsrcs Ltd +0.00%
NovaGold Resources -0.35%
Miramar Mining Corp -0.71%
Barrick Gold Corp -0.91%

An so einem Tag mit 2,4% im Plus zu liegen ist was besonderes.

[valueinvestor]

CL Update!!!

http://www.marketwire.com/mw/release_html_b1?release_id=2210…

(...)The conceptual LG pit at $450 gold contains 104.5 million tonnes (Measured, Indicated and Inferred Mineral Resources) at a grade of 2.09 grams of gold per tonne (7.03 million ounces) versus the mine plan from the 2005 Preliminary Assessment which contained 77.4 million tonnes (Measured, Indicated and Inferred Mineral Resources) at an average grade of 2.08 grams of gold per tonne (5.16 million contained ounces). At the same annual throughput rate of 9.0 million tonnes, this represents an increase in projected mine life of about three years. At a gold price of $550, the projected increase in mine life is approximately 5.5 years based on 127.3 tonnes (Measured, Indicated and Inferred Mineral Resources) at a grade of 2.08 grams per tonne (8.50 million contained ounces). The increase in projected mine life in the conceptual LG pits compared to the 2005 Preliminary Assessment is a result of (1) a 14% increase in total resources in the updated 2007 resource estimate over the 2004 resource model; and (2) a conversion of material from waste to above cut-off grade on the western edge of the deposit thereby allowing the conceptual pits to be deeper.

Seabridge has commissioned TJS Mining-Met Services Inc. to coordinate various studies needed to update the 2005 Preliminary Assessment of the Courageous Lake Project. This new Preliminary Assessment will update capital and operating cost estimates which could result in a change in cut-off grade and a revision to the open pit designs referred to herein. The study is expected to be completed by mid 2007.

[valueinvestor]

Antwort auf Beitrag Nr.: 28.026.574 von valueinvestor am 28.02.07 15:07:29

siehe auch #231

Genau das ist jetzt eingetreten. Mal schauen, was in dem Börsenumfeld draus wird.

[valueinvestor]

St. LOUIS (ResourceInvestor.com) -- Junior mining companies on the TSX Venture (TSX-V) Exchange showed they can be major players, according to an inaugural PricewaterhouseCoopers (PwC) report on Canada's junior mining sector.

In 2006, the total market capitalization for junior mining companies rose to C$27.6 billion, an 86% increase from C$14.8 billion in 2005.

PwC examined the financial position of the top 100 of the 967 junior mining companies on the TSX-V based on market capitalization as of September 30, 2006. The 40 mining companies included in mine represent over 80% of the total global industry by market capitalization.

According to the report, strong metal prices continued to lift the value of mining companies.

"Gold was a key reason for the growth on the TSX-V in 2006,” said Paul Murphy, PwC partner and Canadian Mining Practice Leader, in a statement. “Four of the five largest mining companies on the exchange list gold as their commodity of focus.”

In 2006, the average price of gold jumped to US$604.34 per ounce, up nearly 36% from the 2005 price of US$444.99 per ounce.

In 2006, all junior mining companies had $4 billion in total assets, $2.6 billion more than in 2005. The five companies in the junior sector with the highest market value are:

UrAsia Energy [TSX-V:UUU] (C$1.23 billion)
Aurelian Resources [TSX-V:ARU] (C$826.6 million)
Northern Dynasty Minerals [TSX-V:NDM; AMEX:NAK] (C$657.4 million)
ECU Silver Mining [TSX-V:ECU] (C$569.2 million)
Seabridge Gold Inc. [TSX-V:SEA; AMEX:SA] (C$474.9 million)
The combined market capitalization of C$3.7 billion for these companies more than doubles the 2005 figure of $1.7 billion. The top five's share of the TSX-V's total value rose slightly from 11.4% to 13.4%.

According to Murphy, this demonstrates the overall growth of the TSX-V during the year, as most companies of all sizes saw value appreciation for their shareholders.

UrAsia Energy

In February, SXR Uranium One [TSX:SXR] placed a $3.1 billion stock offer for UrAsia Energy to make the world’s second largest uranium producer. UrAsia has profited from the increased demand for nuclear facilities, forcing uranium prices to jump to $95 per pound today from $36 per pound at the start of last year.

As of April 2006, UrAsia’s Akdala JV mine in Kazakhstan has been producing at an annualized rate of 2.6 million pounds at about $4.8/lb U308. The company’s South Inkai and Kharassan projects are both expected to begin production later this year.

UrAsia holds a 70% interest in all properties while Kazakhstan’s national atomic company Kazatomprom holds the remaining 30%.

Aurelian Resources

In June 2006, Aurelian Resources revealed that the company had drilled an intercept of 204.8 metres of gold averaging 8.4 grams per tonne (g/t) as part of company’s Condor project in Ecuador. This included 79.10 metres of 16.15 g/t gold.

Aurelian has traced the system over approximately 300 metres of strike length and it remains open to the north, south and west.

News of the results increased share price by 70% in a matter of hours, eventually pushing shares to highs of C$43. Shares have tapered off to about C$29 per share as of today, but are still drastically higher than the 52-week low of 61 cents per share.

Northern Dynasty Minerals

Northern Dynasty Minerals finished 2006 with a very promising return. Since Oct. 5, 2006, shares of the exploration company have risen to almost C$13 per share from C$6.46.

The company’s flagship project is the giant Pebble gold deposit near Iliamna, Alaska. Although the company has been battling environmentalists and residents in regards to the effects on local fishing industry, the company maintains that its development is progressing steadily.

Pebble is the largest copper-gold deposit in North America at 49 billion pounds of copper and 64 million ounces of gold. It also contains an estimated 2.9 billion pounds of molybdenum.

ECU Silver Mining

ECU Silver Mining has reaped the benefits of higher silver prices. Last year, silver rose 43% to close at $12.90 after starting the year at $9.04/oz. So far in 2007, the price has risen modestly to $13.33.

The company’s four mines, Santa Juana, San Mateo, San Juanes and San Diego, are located in mining district of Velardena in Durango State, central Mexico. The area historically produced about 500,000 ounces of gold and 250 million ounces of silver.

ECU boasts indicated resources of 17.4 million ounces of silver equivalent and inferred resources to 81 million ounces silver equivalent. In 2005, 61,000 tonnes of ore with average grades of 4.97 g/t gold and 196 g/t silver were processed from the Santa Juana Mine, double the 2004 output.

The company most recently announced assays from several new targets at the Santa Juana mine. The assays showed an average of 2 g/t gold, 90 g/t silver, 0.22% lead, 0.49% zinc and 0.21% copper over 19.8 metres of width and 250 metres of length.

At the beginning of 2006, shares for ECU were trading at 46 cents. Today, shares are priced at C$2.54.

Seabridge Gold

Shares of Seabridge Gold Inc. have been steadily rising since May 2005. During 2006, shares of Seabridge increased 63% to C$16.60 per share, now trading at almost C$17.00.

The company has acquired a 100% interest in nine North American gold resource projects: Courageous Lake, Hog Ranch, Kerr-Sulpherets, Mitchell, Noche Buena, Quartz Mountain, Red Mountain and Castle/Black Rock.

In April 2006, the company purchased a 100% interest in the Kerr-Sulpherets project and confirmed a large gold/copper system located at the site.

Historical estimates show the Kerr deposit at 800,000 ounces of gold and 1.2 billion pounds of copper in the indicated category plus an additional 800,000 million ounces of gold and 1.1 billion pounds of copper in the inferred category.

The Sulphurets deposit contains an historic 1.3 million ounces of gold and 277 million pounds of copper in the indicated category plus an additional 500,000 ounces of gold and 113 million pounds of copper in the inferred category.

Minus the historically estimated resources, Seabridge boasts total measured and indicated resources of 7.12 million ounces of gold and indicated resources of 20.7 million gold ounces and 2.23 billion pounds of copper.

Conclusion

Investor confidence in the worldwide mining industry and its prospects have continued to strengthen - much like they have for junior mining companies on the TSX-V, according to PwC.

Murphy said that the survey found one of the most impressive numbers of 2006 was the $1.2 billion that exploration companies were able to raise through issuing shares, a 253% increase from 2005.

“The TSX-V is a good home for Canada's junior mining companies who can then graduate to the larger TSX when they become bigger scale producers,” he said.

Juniors spent $409.4 million on exploration and development in 2006, 79% more than in 2005. Companies spent a total of $103.9 million, more than double from the year before, on plant and equipment in 2006.

“These are the kind of investments that are expected of junior mining companies and could pay high returns to shareholders if new properties are both discovered and developed to their potential,” said Murphy.

[valueinvestor]

Ihr Schlafmützen.

Seabridge Files 43-101 Report on Gold-Copper Resource at Mitchell
2007 Drill Program Being Designed to Upgrade and Increase Resource
Toronto (Canada) — Seabridge Gold announced today that it has filed on SEDAR the 43-101 Technical Report on its Mitchell porphyry deposit located on Seabridge’s 100% owned Kerr-Sulphurets project near Stewart, British Columbia (see news release dated February 20, 2007). The Technical Report confirms the previously announced resource estimate.

The Technical Report, prepared by Resource Modeling Inc. (“RMI”) of Tucson, Arizona, states Inferred Mineral Resources at a 0.50 gram per tonne gold equivalent cut-off grade at Mitchell as follows:

Mitchell Deposit Inferred Mineral Resources

Tonnes
(000s)
Gold
Grade
(grams/tonne)
Ounces of
Gold
(000s)
Copper
Grade
(%)
Pounds of
Copper
(000s)

563,873
0.72
13,053
0.180
2,230,783


NOTE: the 0.50 gram per tonne gold equivalent cut-off grade was calculated using US$475 per ounce gold and US$1.50 per pound copper.

In its report, RMI notes that the limits of the Mitchell deposit have not yet been determined and that it appears to be open up dip (south) and down dip (north) and perhaps to the east with reasonable expectations of increasing the inventory of Mineral Resources. Seabridge is now planning a 2007 core drill program at Mitchell designed to (1) upgrade a significant portion of the existing Inferred Mineral Resource to the Indicated category, and (2) further expand the existing resource. Details of the proposed 2007 program will be announced in the upcoming weeks.

The Mitchell Technical Report was prepared by Resource Modeling Inc. under the direction of Michael Lechner, who is independent of Seabridge and a Qualified Person as defined by National Instrument 43-101. Exploration activities at Kerr-Sulphurets are being conducted under the supervision of William E. Threlkeld, Senior Vice President of Seabridge and a Qualified Person as defined by National Instrument 43-101.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company’s mineral resources by project and resource category please visit the Company’s website at http://www.seabridgegold.net/Resource.htm.

Außerdem hat sich Freund Sjuggerud wieder gemeldet:

By Dr. Steve Sjuggerud

489%...

That's what subscribers who took my recommendation to buy Seabridge Gold (SA) have made in less than two years.

I think that shares of Seabridge can rise many more times… and very soon.

Many things have gone Seabridge's way in the last two years. So even as it's risen, I've kept a "buy" rating on the stock for the entire period we've held it.

Things have gone so right, the stock is actually a better value today than it was when we first bought it! I'll explain that in a minute.

The True Wealth gold conference is a place where geologist Matt Badiali – who writes the S&A Gold Report – and I can handpick small companies, like Seabridge, that are outstanding opportunities… but are simply too small to put in even our most speculative newsletters.

This year we have a bumper crop of opportunities…

Matt and I have invited more companies than ever before to share their stories. We simply couldn't trim the list down anymore.

Getting back to Seabridge…

Geologist Matt Badiali tells me, "By the end of the summer, Seabridge should be able to move 15 million ounces of gold from the 'inferred' category to the 'measured and indicated' category."

That would push Seabridge's measured and indicated reserves to around 25 million ounces of gold.

If he's right, that means that when you buy shares of Seabridge, you'll be buying gold in the ground in North America for a little more than $20 an ounce. (You can pay a little less for some other companies – but their reserves are often in scarier places, like Venezuela.)

$20 an ounce is cheap…

When I first recommended Seabridge, we actually paid less than $10 an ounce. But it was a risky bet… You see, the total cost to mine Courageous Lake, one of Seabridge's major properties, would be $423 an ounce.

But the price of gold was around $420. So, two years ago, it would have been unprofitable to mine the gold. It was worth paying $10 an ounce though… and we did. But we knew it was like we were buying long-term options on gold that didn't expire.

That $10 an ounce we paid should be paying off much more than it has so far, believe it or not…

The price of gold is now $670. If the total cost per ounce to mine is $420, that's nearly $250 per ounce of profit. Yet we can buy the stock for just over $20 an ounce (if Matt's right about this summer).

Which price is better… $10 an ounce when gold's at $420? Or $20 an ounce when gold is at $670? The second one is a much better deal… And remember, if Matt is right, Seabridge has 25 million ounces of measured and indicated reserves in the ground.

To show you how cheap $20 an ounce for gold in the ground is, a company similar to Seabridge was recently acquired – for nearly $200 an ounce! Agnico-Eagle recently bought Cumberland Resources, and that's the price it paid.

So if a big gold company wants to buy Seabridge, chances are it's going to pay up. If Cumberland was acquired for nearly $200 an ounce, you'd think that Seabridge would be worth at least $100 an ounce. I haven't done the specific comparisons to the Cumberland deal – but it's safe to say that Seabridge at its current price ($20 per ounce of gold in the ground) is very cheap.

Seabridge's buyout price, if it was taken over, could be double or triple its current market value, particularly after this summer when the reserves are officially reclassified.

Seabridge's CEO will be at our gold conference this summer, giving us all the details. And so will many other CEOs of smaller mining companies – companies too small to write about to a large audience.

Or you can just buy shares of Seabridge… It's a better deal today than it was two years ago…

[valueinvestor]

und das bedeutet

- neues all time high

- Rekordvolumen

[derivatus]

Marktkapitalisierung lt. yahoo jetzt 600 MIo USD. Ich denke langsam ist der Titel auch fuer kleinere institutionelle Investoren interessant.

[valueinvestor]

Jetzt versuchen schon kleine Explorer damit zu protzen, dass sie Land neben Seabridge Gold besitzen.

http://www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=8189

[valueinvestor]

Bohren in noche buena

Drilling to Begin at Seabridge Gold's Noche Buena Project
Monday April 16, 8:30 am ET
Program designed to increase gold resource

TORONTO, ONTARIO--(MARKET WIRE)--Apr 16, 2007 -- Seabridge Gold (CDNX:SEA.V - News)(AMEX:SA - News) announced today that it expects to initiate a drilling program this month at its 100% owned Noche Buena Project in Sonora, Mexico. The 10,000 meter reverse circulation program has been designed to expand the known resource by testing three targets within and adjacent to the existing deposit.
The Noche Buena project is in northwestern Sonora State, about 55 km from the city of Caborca and within the geological terrain that is host to several large gold deposits, including the La Herradura and Mesquite Mines. Seabridge Gold purchased the property in April of 2006 and completed a NI 43-101 compliant technical report that confirmed a resource of:

----------------------------------------------------------------------
INDICATED RESOURCES INFERRED RESOURCES
-------------------------------------------------------------
cut-
off g/t Tonnes Grade Ounces Tonnes Grade Ounces
Au (000) (g/T) (000) (000) (g/T) (000)
----------------------------------------------------------------------
0.30 21,887 0.81 569 14,031 0.68 308
----------------------------------------------------------------------

Exploration on the property during the past year has identified three different targets which will be tested during this program:
- Deep potential under the existing resource. Past operators restricted their drilling on the property to a depth of about 125 meters. Evidence from relogging of these previous drill holes (and by analogy to the La Herradura Mine) indicates that potential exists for multiple stacked ore zones on the property as deep as 300 meters.
- Strike extensions of the existing resource. Geological and geophysical evidence suggest that the resource identified to date has not been fully delineated. The strike potential of the existing resource will be drill tested by off-setting previous well mineralized intersections.
- A fault off-set of the existing resource. Seabridge's geologists believe a fault may have off-set part of the deposit. The blind target is defined by projecting the known deposit beyond a proposed fault, and applying the fault's derived displacement.

Seabridge President and CEO Rudi Fronk said that "our geologists have spent a year re-logging all drill core and chips, remodelling the deposit and comparing it to similar occurrences. We now have considerable confidence in the potential for expanding resources at Noche Buena."

It is anticipated that this drilling campagin will be completed before the end of May under the direcction of William Threlkeld, P.Geol, an officer of the Company and a Qualified Person as defined by National Insterment 43-101. An aggressive QA/QC proceedure will be implemented to insure this new drilling is comparable in quality to previous resource delineation drilling. Results from this program will be incorporated into a revised resource model of the Noche Buena property. An updated resource estimation for the deposit incorporating this new drilling is expected in the third quarter of 2007.

[valueinvestor]

JM Dutton erhöht sein Kursziel auf 27$

[valueinvestor]

SeekingAlpha
Seabridge Gold: Enormous Option Value
Friday May 18, 4:45 am ET


J. C. Boland submits: Seabridge Gold (AMEX: SA - News) ($14.97) has issued several updates in the last several months reporting an expansion of its gold resources at its two furthest-along projects, Courageous Lake and the Mitchell site (at Kerr-Sulphurets). These two projects now are reported to host 23.3 million ounces in the measured, indicated and inferred categories. This is equivalent to 0.61 AU ounces behind each of SA’s 38 million fully diluted shares.

The company is updating a preliminary assessment on Courageous Lake that it expects to improve the financial feasibility of developing a mine. Since the 2005 assessment, the property’s resource has been expanded, and although mining costs have risen, some areas of savings have been identified. The current resource model is about 10.2 million ounces at an average of 2.0 grams per ton. The 2005 preliminary assessment estimated cash mining costs of $279 per ounce, capital expenditures of $630 million, and, at $500 gold, a total of $324 million free cash flow on an assumed 4.6 million ounces life-of-mine production. That assessment projected about a $230 million increase in fcf for each $50 rise in the gold price. Thus, $650 gold would yield fcf of about $1 billion over the projected 8.5 years of production. All those numbers should increase with the updated study that reflects the considerable expansion of the resource.

No feasibility study is available for Mitchell, which SA’s press release in February estimated contains 13.1 million inferred ounces of gold and 2.23 billion pounds of copper.

The option value of these shares seems enormous.

Here’s one way of looking at it:

Assume, for argument’s sake (pending a feasibility assessment at Kerr-Sulphurets) combined capex for the two projects of $2.8 billion. Assume average cash mining costs of $350 an ounce (reflecting Mitchell’s lower average grade and tossing in the copper as a mere credit—which is absurd, but we’ll do it for the sake of conservatism). Assume $650 gold. Roughly: 23.3 (m oz) x $300/oz cash profit = $6,990 million. Take off $2.8 billion plus six years’ carrying cost (another $1 billion?) and you’re left with $3.19 billion in total realizable value. Divided by 38 million shares, that’s $84 a share. At $15, today’s stock price, SA would produce a 19% compound annual return for 10 years to reach that level.

To run the exercise at $1,500 gold is at least entertaining. Assuming no benefit from lower-grade ore becoming payable:23.3 (m oz) x $1,150/oz cash profit = $26,795 million. Less capex and carrying cost of $3.8 billion leaves $23 billion in total realizable value. Divided by 38 million shares, that’s $605 a share. (Anm value: Dafür kann man dann 25 Pizzas beim Italiener kaufen)

It seems to me that Seabridge is an inexpensive option play on gold. In any case, you’re buying gold in situ for less than $25 an ounce, with more than 60 pounds of copper per share as a bonus. In addition, Seabridge owns six other, earlier-stage projects with a total of more than five million ounces. Some of these were extensively investigated by previous owners, others less so. The factual parts of the foregoing can be confirmed at the company's website.


Disclosure: I’ve owned this one for years.

[valueinvestor]

Antwort auf Beitrag Nr.: 29.376.067 von valueinvestor am 18.05.07 17:58:53

Letzte Woche hat es ja fast alle Werte ordentlich zerlegt - sea dagegen mit steigenden Kursen und Rekordvolumen. Nach meinem Kenntnisstand war das auch keine durchlaufende Finanzierung o.ä.
Irgendwelche Gurus haben den Wert auch nicht neu empfohlen. Da stellt sich doch kribbelige Vorfreude darauf ein, den Grund des Anstiegs zu erfahren.

[SimplyRed]

Antwort auf Beitrag Nr.: 29.826.682 von valueinvestor am 11.06.07 18:10:14

Normalerweise verursacht so was schwächere Kurse. Aber hier erfolgte der Blocktrade 3 % über dem Tagesanfangskurs. Stark !


Xstrata Completes Exercise of Seabridge Gold Warrants

Toronto (Canada) — Seabridge Gold announced today that Xstrata plc has completed the exercise of all two million Seabridge share purchase warrants it held at C$13.50 per share. Xstrata has also advised Seabridge that it has sold all of the Seabridge shares obtained by way of the warrant exercise.

Seabridge President and CEO Rudi Fronk noted that the C$27 million received is more than sufficient to meet the Company’s foreseeable needs. “We are now exploring how these funds could best be invested to improve our gold ownership per common share which is our main objective on behalf of our shareholders. We are considering expansion of this year’s drill programs at Noche Buena and Kerr-Sulphurets where there is considerable opportunity to expand resources. We are also considering initiating a buy-back program in our own shares.”

The two million warrants were issued to Xstrata as part of the consideration by which Seabridge repurchased a 100% interest in its Kerr-Sulphurets project. (See news release of September 5, 2006).

[valueinvestor]

Antwort auf Beitrag Nr.: 29.884.220 von SimplyRed am 14.06.07 06:12:17

Jetzt ist sea mein erster Ninebagger.
Zum einen scheinen die xstrata Warrants den Kurs stärker gebremst zu haben - der Markt hat wohl nicht erwartet, das diese Papiere so preisschonend untergebracht werden konnten und deshalb mit Käufen gewartet, er wurde quasi auf dem falschen Fuss erwischt.
Zudem hat gestern ein alter Bekannter, Dr. Steve Sjuggerud seabridge wieder empfohlen. Geschickt hatte er angekündigt, er hätte eine "neue" Seabridge mit ähnlichem Potential gefunden wie Sea bei seiner Erstempfehlung. Aus dem Zylinder kam dann aber kein neues Kaninchen, sondern - Überraschung - die neue Seabridge ist die alte Seabridge.
Dieser Taschenspielertrick sollte mitursächlich für den 9% Schluck gestern sein. Ich habe die Empfehlung nicht selber gelesen, sie soll aber einen Bewertungsvergleich mit Nova und Cumberland beinhalten und Sea ein Kurspotential von bis zu 300% im Falle einer Übernahme zusprechen.

[valueinvestor]

Antwort auf Beitrag Nr.: 30.013.362 von valueinvestor am 19.06.07 09:39:50

Das war der Text:

"I just bought $30,000 worth of his stock," someone whispered in my left ear as we sat listening to a speaker.

Actually, it wasn't just "someone" that whispered in my ear. It was the CEO of a gold company.

You see, I was at the True Wealth Gold Conference in Long Beach last week, which I helped organize. We hand-selected the companies that we thought were the very best opportunities right now in gold and metal and invited them to present their stories. I thought there was a chance that one of these companies could make us many times our money in gold. It turns out, we found such a company...

The CEO who sat next to me during the presentation knows about gold deposits: I had personally invited him to speak at the conference, too! But once he heard that speech, he had to get in to the stock immediately – he couldn't even wait until the speech was over.

Then, in my other ear, S&A geologist Matt Badiali said, "The guy next to me already owns 35,000 shares of this stock... and he says he's buying more right now."

Back in 2005, I recommended shares of a little-known gold company, Seabridge Gold (SA). It was a risky recommendation... and I said as much. But I said that a $50 increase in the price of gold should translate into a double in the share price.

We got lucky... The price of gold has risen by $250 an ounce since I first wrote about Seabridge. And on schedule, shares of Seabridge are up 500%.

I believe this gold company – the one that generated all the excitement at our gold show last week - has the potential to be "the Next Seabridge."

You won't believe what this company has in the ground...

Around 2000, the "Next Seabridge" bought eight properties at the bottom of the market. It paid next to nothing for them. The properties were cheap because they were "discards" from gold mining companies. The mining companies knew the properties had some amount of gold, but thought they would never be profitable, so they didn't bother too much with them.

Of course, at the time, gold was selling for $250 an ounce, and it might have cost $300 or more per ounce to get the gold out of the ground.

The guys behind the Next Seabridge gambled that this was the bottom in gold. They acquired these properties, which would have been money-losers if they had tried to mine them at the time. They got lucky. Gold rose, and their gamble paid off...

Now, gold is nearing $700 an ounce. As the price of gold rose, the Next Seabridge started drilling these properties to see what it had...

Consider a gold deposit we'll call "Spot X." The Next Seabridge bought Spot X for $2.5 million back in 2002. Spot X turned out to be the largest undeveloped gold deposit in Canada and one of the largest in the world.

This project is worth more than $1 billion in cash flow, after all the expenses of building and operating a mine. And that billion-dollar net cash flow is based on a conservative gold price of $550, not the current price today close to $700 ($550 per ounce is the price major gold companies are using right now to evaluate future projects).

When this project was first announced in late 2005, shares of the Next Seabridge doubled from $5 to $10.

Yet the stock is still cheap. The Next Seabridge's stock market value – today - is less than half the value of this one property alone.

The Next Seabridge was incredibly lucky with Spot X. The chances of a find like that in the CEO's lifetime were slim to none. The Next Seabridge had acquired eight properties. So the big success at Spot X was like hitting a hole in one on one of only eight swings.

Then the Next Seabridge took another swing. It just recently started drilling at another property... we'll call it "Spot Y."

It hit another hole in one! Unbelievably, Spot Y has more gold than Spot X!

So now, Spot Y is the largest undeveloped gold deposit in Canada. Spot X drops to second place. The Next Seabridge now owns 100% of the two largest undeveloped gold deposits in Canada – which are also two of the largest deposits in the world!

Here's the thing: investors haven't figured out yet that they can basically have this huge gold deposit for free. The CEO only makes one presentation a year – at our annual conference – and this is a fairly small company. So word hasn't got out yet.

It will soon though and when it does, four times our money in the next two years might just be conservative.

If there's one thing I learned from the gold conference, even though gold is closing in on $700, there's still plenty of value to be found in the gold sector. In addition to some of the plays I mentioned on Monday, "The Next Seabridge" is a tremendous opportunity right now.

June 8, 2007 2:03 PM

Spot x ist Courageous Lake
Spot y die Mitchell Zone

die 8 properties sind
Courageous Lake
Kerr/Sulphurets
Grassy Mountain
Red Mountain
Quartz Mountain
Castle-Black Rock
Hog Ranch
und Noche Buena oder die Nevada Properties

[valueinvestor]

Drilling Begins at Seabridge Gold’s Mitchell Deposit
15,000 Meter Program Designed to Upgrade and Expand Resources
Toronto, Canada … Drilling has commenced at the Mitchell zone, one of three gold-copper porphyry
deposits located on Seabridge’s 100% owned Kerr-Sulphurets project near Stewart, British Columbia,
Canada. A 15,000 meter core program will employ three rigs to upgrade the existing 13.1 million ounce
inferred gold resource and to pursue three targets which could substantially increase the size of the
deposit.
The 24 holes drilled at Mitchell during 2006 confirmed a continuously mineralized gold-copper deposit
measuring 1,600 meters long, 800 meters wide and at least 300 to 400 meters thick. The drill results were
incorporated into a National Instrument 43-101 compliant resource estimate for Mitchell yielding an
initial inferred resource of 564 million tonnes grading 0.72 grams per tonne gold (13.1 million ounces)
and 0.18% copper (2.23 billion pounds) at an equivalent gold cut-off grade of 0.50 grams per tonne gold.
Equivalent grades were determined using a gold price of US$475 per ounce and a copper price of
US$1.50 per pound. The 2006 drill program did not find the limits of the deposit which remains open to
the north, to the south (toward the Sulphurets deposit a distance of two kilomters), to the west and at
depth.
The main objectives for the 2007 program are as follows:
(1) Upgrade the inferred resource - Gold and copper grades in the 2006 drill results at Mitchell
are remarkably consistent down hole, along and across strike. This homogeneity of grades
and the lack of sharp grade contrasts across the Mitchell deposit probably resulted from
regional events which affected the mineral system after its deposition. Seabridge is confident
that a substantial portion of the inferred resource will be reclassified to indicated resources
following the in-fill drilling planned for this summer.
(2) Test the Southern extension - The entire Mitchell zone appears to be open to the south. Both
gold and copper grades for the most southern holes were above the average grades for the
Mitchell deposit. Seabridge’s geologists believe it is possible that the Mitchell and Sulphurets
deposits could be separately exposed portions of the same gold-copper mineralized zone or
system, and the untested, blind area beneath the Sulphurets thrust fault offers attractive
exploration potential (see cross section interpretation).
(3) Test the Western extension – Four of the 2006 holes drilled to test the west side of the deposit
failed to intersect significant mineralization. However, drill hole M-06-19 and historical drill
hole S91-396 located further to the south of those holes re-entered mineralization similar to
the Mitchell deposit suggesting that the west strike extension of the Mitchell deposit was offset
to the south and is preserved under the regional thrust fault.
(4) Other targets – The 2007 program will also test for northern and depth extensions.

[valueinvestor]

Antwort auf Beitrag Nr.: 30.354.495 von valueinvestor am 27.06.07 19:31:06

http://www.kitco.com/pr/1140/article_06272007131845.pdf

Hier der Link zur Orginalmeldung mit einer sehr schönen cross section interpretation (Seite 3).
Mann, da werde ich ganz aufgeregt, wenn die Mitchell noch größer kriegen.

[valueinvestor]

Die jetzt geplanten Löcher zwischen den beiden Goldvorkommen haben sicher vorerst orientierenden Charakter. Wenn unter der Kappe die beiden Systeme Kerr und Sulphurets zusammenhängen, wäre die Rente gesichert.
Allein die erste Linie im Süden könnte bei anhaltender Mineralisierung für eine Steigerung der Resourcen um 33% gut sein. Vorstellbar ist auch eine tiefer reichende Mineralisierung. 10% mehr in der Tiefe und eine erfolgreiche Step out line im Süden und sea hätte sagenhafte 19 Mio Unzen + Kupfer.

[valueinvestor]

Was für ein Tag heute!
Mein Depot lupft es um 6%. Das Plus von Seabridge ist nur Zuckerle oben drauf, die Brilliant AG WKN 527270 schiesst heute mit plus 60% durch die Decke. Nach der Meldung zu den Quartalszahlen ist bei 48 Euro noch lange nicht Schluss. Ich glaube, jetzt habe ich es wirklich allen erzählt...
Wenn eine gute Fee mir gesagt hätte, ich dürfe eine ad hoc für Brilliant schreiben, soll aber nicht so dick auftragen, dann hätte ich mich nicht getraut, die heutige Meldung zu verfassen.

[konradi]

.

wieviel von den 73.000 im Streubesitz befindlichen Brilliant-Aktien hältst Du denn, value ? Dein Portfolio würde mich ja wirklich interessieren, bei Deinem "Branchenmix"

- Jetzt wolln wir nur noch hoffen, das SEA im Mitchell Projekt noch ein paar Unzen mehr findet und die geneigten Investoren nicht wieder Spontanimpulsen folgend die Nerven verlieren, nur weil Mr. Friedberg mal wieder gezwungen war aufgrund der "zu" guten Entwicklung gemäß seiner "investment guidelines" zu verkaufen

Beste Grüße K.

[valueinvestor]

Antwort auf Beitrag Nr.: 30.380.838 von konradi am 29.06.07 01:10:48

nicht ganz ein Prozent vom free float...

[valueinvestor]

SO, und Sea hat im zweiten Anlauf die 20 Dollar geknackt, 20,38, wenn ich den Realtimechart richtig entziffere.
All Time High!


Wenn man sich das Marktumfeld anschaut, und die Verkäufe von Xstrata, Friedberg und dem Management (Optionen, Steuer), dann darf man das getrost als sensationell bezeichnen.

[valueinvestor]

und heute gefällt er mir auch.
Hat jemand sea ein Testosteronpflaster auf den Sattel geklebt?
Jetzt habe ich auch den ersten Tenbagger meiner Börsenlaufbahn.

[SimplyRed]

Antwort auf Beitrag Nr.: 30.452.059 von valueinvestor am 02.07.07 17:35:51

Congratulations. Ist Sea trotzdem ein Kandidat für die Sicherung der Steuerfreiheit wegen Einkauf vor dem 31.12.2008 angesichts der ab 09 drohenden Besteuerung von Kursgewinnen ?

[valueinvestor]

Antwort auf Beitrag Nr.: 30.452.445 von SimplyRed am 02.07.07 17:57:44

Irgendwann wird auch sea seinen Hebel verlieren, weil die Option zu tief im Geld ist und das Delta (?) zu klein wird. Die Hauptarbeit, zu CL und Mitchell Machbarkeitsstudien zu erstellen dürfte Sea bis Ende 2009 beschäftigen. Optimal wäre dazu ein Goldpreis 900 $ und dann dürfen die Großen auf Sea bieten, Mitchell allein hätte dann 20 Mio Unzen - na ja - Wunschdenken.
Seabridge hat immer eine brutale Volatilität, daher könnte jetzt ein Einstieg fatal sein. Heute verläßt Seabridge seinen dreijährigen Aufwärtstrend (von 2 auf 20) nach oben! Wenn das ein Fehlsignal ist, wird es teuer. Auf lange Sicht bezweifle ich sehr stark, mit Sea etwas falsch zu machen.

[SimplyRed]

Antwort auf Beitrag Nr.: 30.453.373 von valueinvestor am 02.07.07 18:47:50

Einsteigen muss ich hier nicht mehr und die 12 Monate sind auch voll (jedenfalls für den größten Teil meiner Position). Na ja - so lange wir noch nicht so ganz genau wissen, was da alles gehebelt werden muss, kann man ja nicht so viel falsch machen.

[SimplyRed]

Antwort auf Beitrag Nr.: 30.453.373 von valueinvestor am 02.07.07 18:47:50

"Ab einem Goldpreis von 423 $ könnte Seabridge ein ten bagger sein"

Kommt Dir diese Aussage bekannt vor ? Hat zwar doch bis Goldpreis von rund 650 USD gedauert, aber es is' einer geworden.

Wahnsinn. Muss doch ein irres Gefühl sein, auf 'nem tenbagger zu sitzen und dann die aktuellen postings im yahoo-Board durchzugehen. Wenn die dort angestellten Bewertungsüberlegungen auch nur annähernd zutreffen, wird es bei mir auch noch ein tenbagger.

[valueinvestor]

Aber die Rechnung von damals hatte einen Fehler: Ich hatte den Dollarverfall - eine nicht unwesentliche Voraussetzung im Gesamtbild - nicht im Plan. Drum war nicht bei 14,40$ der Tenbagger sondern erst bei 21$.

Aber es fühlt sich geil an. Derart absurd viel Geld in einer Aktie drinstecken zu haben - privat sind es heute 20% Depotanteil und der Rest vom Depot hat beileibe zwischenzeitlich nicht geschlafen.
Ich finde Kurse von 60$ bis 75$ bei optimaler Entwicklung (40% Resourcenplus Mitchell Zone und Gold bei 900$) durchaus noch darstellbar.

[SimplyRed]

Antwort auf Beitrag Nr.: 30.477.423 von valueinvestor am 03.07.07 22:02:57

Nun hat aber der Dollarwertverfall ja auch einen positiven Effekt auf die Entwicklung des Goldpreises gehabt, so dass dies insofern gegenläufig gewirkt hat. Das Verrückte an SA ist ja, dass man das Teil auch nach einer Verzehnfachung noch als Hedge-Instrument gegen weitere inflationäre Entwicklungen in Amiland betrachten kann, und man nicht von einem überbewerteten Börsenhighflyer ausgehen muss. Wahnsinn.

[valueinvestor]

Antwort auf Beitrag Nr.: 30.478.834 von SimplyRed am 04.07.07 06:57:33

Ich hatte erwartet, sea würde nach der Feiertagspause ein wenig durchschnaufen - aber es geht weiter nach oben. Zusätzlich kann man seit 4 Wochewn ein gigantisches Volumen beobachten. Die 300k von heute wären früher außerordentlich bemerkenswert gewesen.
Ich kann es mir kaum vorstellen, dass es nur Jünger von Sjuggerud sind, die das Material aufsaugen.

[valueinvestor]

Was ist da los?? ?? ??

[SimplyRed]

Antwort auf Beitrag Nr.: 30.511.382 von valueinvestor am 05.07.07 20:12:15

Mensch, Mensch, Mensch, und jeder Dollar mehr an Kurs ist ein Verdoppler bezogen auf Deinen Einstandskurs. Early bird catches the worm in Reinkultur. Welche Meldeschwellen bezüglich Beteiligungsbesitz existieren eigentlich nach kanadischem Börsenrecht ? Hatten die da im yahoo-Board mal was zu gesagt ?

[valueinvestor]

Beim Googlen gefunden:
Mittlerweile taucht Seabridge in den Listen der Momentumtrader in den vordersten Plätzen auf.

[Schnueffelnase]

Antwort auf Beitrag Nr.: 30.520.020 von valueinvestor am 06.07.07 12:32:07

Hmmm, ab wann drohen wohl Rücksetzer?

[SimplyRed]

Antwort auf Beitrag Nr.: 30.521.209 von Schnueffelnase am 06.07.07 13:47:17

Ich denke, valueinvestor hat die Antwort mit seinem posting schon gegeben. Wenn erst mal die Momentumtrader alle drin sind, dann sollten wir uns auf gehörige Volas einstellen. Dann könnte es möglicherweise auch noch mal buy-the-dips-Chancen geben.

[valueinvestor]

Normal ist es jedenfalls nicht, an einem Tag wie dem gestrigen gegen den Markttrend 6% drauf zu packen.
Noch dazu lagen ungünstige Voraussetzungen für die hausse vor: Xstrata, Friedberg und das Management haben verkauft / mussten verkaufen.
Was könnte dahinter stecken?

Noche buena? kaum - eher ein non event mit Überraschungspotential.
Mitchell? Vielleicht war die Präsentation dazu so stark, dass Profis drauf angesprungen sind. Bohrergebnisse kommen wohl so Ende August.
Courageous Lake? Das wäre meine Lieblingskonstellation: Eine deutlich verbesserte Machbarkeitsstudie und das Interesse eines Großen an einem JV. Damit wäre das Management rehabilitiert und der Bewertungsabschlag dürfte sich in Luft auflösen.
Sjuggerud? Der reitet jetzt natürlich auf seinem Topp Pick rum. Aber Ich glaube nicht, dass ein Newsletter Wochen nach dem Tip für 16 Mio Tagesumsatz verantwortlich gemacht werden kann.

[valueinvestor]

Same proceedure as every day, James.

Schon wieder 2,6% drauf.

[valueinvestor]

Selbst als hartgesottener langjähriger Seabridge Aktionär (erster Kauf am 28.5.2003 OTC USA zu 1,69$) kann ich mich an so einen Ritt nicht erinnern.

[valueinvestor]

Antwort auf Beitrag Nr.: 30.534.944 von valueinvestor am 07.07.07 10:15:39

uups, Posting war doch gar nicht fertig...

Es gab immer mal Phasen, wo es 10% hoch ging oder nach der allerersten Sjuggerud Empfehlung auch mal 20, aber diese Kontinuität in der Bewegung, diese Sicherheit ohne jeden Zweifel beeindruckt. Gestern abend versuchte der Kurs mal kurz, sich vom Tageshoch zu entfernen, aber es wurde gleich ein Haken nach oben gemacht um auf Tageshoch zu schließen.
Gestern Umsätze über 1.000.000 Aktien, das sind etwa 4% des free floats.
Seit Anfang Juni ist schon der neue Sockel des Volumens beeindruckend, aber so viel Geld wie gestern wurde noch nie in sea umgesetzt.
Es scheint so als hätte der Deal um Yamana einige Anleger dazu geführt, mal eine Vergleichsrechnung mit Sea zu machen.


Sjuggerud schrieb:
"I just bought $30,000 worth of his stock," someone whispered in my left ear as we sat listening to a speaker.

Actually, it wasn't just "someone" that whispered in my ear. It was the CEO of a gold company.

You see, I was at the True Wealth Gold Conference in Long Beach last week, which I helped organize. We hand-selected the companies that we thought were the very best opportunities right now in gold and metal and invited them to present their stories. I thought there was a chance that one of these companies could make us many times our money in gold. It turns out, we found such a company...

The CEO who sat next to me during the presentation knows about gold deposits: I had personally invited him to speak at the conference, too! But once he heard that speech, he had to get in to the stock immediately – he couldn't even wait until the speech was over.


Wahrscheinlich ist das nur Newsletter Lyrik der schmierigeren Sorte, aber vielleicht auch ein Hinweis, dass Seabridge mit dem Mitchell Deposit endlich in der Branche ernst genommen wird. Ist das Mitchell Deposit der Schlüssel zur Aufnahme in den erlauchten Kreis? Früher hieß es wegen des Paria-Managements, Sea hat überhaupt nichts, was je mal abgebaut werden wird - das was Neono immer als "tote Pferde reiten" bezeichnet, obwohl sein Cardero Maultier der klapprigsten einer ist der über die Börse humpelt.
Dann wäre der Upmove nur der überfällige Abbau des Bewertungsabschlages. Cumberland wurde bei höheren Graden für 170$ je Unze übernommen, sea hat 0,85 Unzen + Mitchellerweiterung je share.

Zusätzlich zeigen einige Papiere an, dass der Goldpreis vor einer Rally stehen könnte: Ausbruch bei Sa, bei Silver Wheaton, "sogar" CDE bekommt den Hintern hoch - da habe ich mir ein Portiönchen gekauft.

[SimplyRed]

Antwort auf Beitrag Nr.: 30.535.090 von valueinvestor am 07.07.07 10:31:12

Das schrieb ein shortie im yahoo-Borad Anfang der Woche:


If only I could find about 50K shares available.
My broker's working on it.

Cover @ $18 in a week or two.

[SimplyRed]

Antwort auf Beitrag Nr.: 30.535.364 von SimplyRed am 07.07.07 10:57:00

...und Nachfolgendes dann am Ende der Woche:


Yeah, this morning wasn't fun. I covered and reversed (went long) around 23.60 today. I only stayed in until around 24.35, made back my loss and a little change on the side. Obviously wish I had held longer, but of course it is pointless looking back on what one should have done. At any rate, I think you guys have a solid company here and I will be looking to get long around 22ish depending on how it is acting there. However, I realize it may never retrace that much. It seems everyone on here is very consistent in their opinion and information regarding SA and gold in general. I have rarely seen this on a board before. I just can't bring myself to buy and hold a piece at this level without a rest... it goes against everything I know. But, if a retrace happens, I will probably just park a couple percent of the account in this for the ride. I rarely ever do this, but it seems that the risk/reward given the strength of this stock and the fundamental environment is worth it. I realize this could just shoot to $40 as everyone is saying and then of course $25 looks great now. But I just can't do that. At any rate, thanks for busting my chops yesterday. It made me cover and reverse sooner than I would have otherwise. I am not often on message boards, but this price action was so strong I wanted to see what people were saying about it. Thanks again!


Noch Fragen ?

[valueinvestor]

Antwort auf Beitrag Nr.: 30.535.393 von SimplyRed am 07.07.07 11:00:24

wofür er meinen vollen Respekt bekommt. Er hat wenig Geld verloren, als er falsch lag. Das ist wichtig für einen erfolgreichen Trader.

[SimplyRed]

Antwort auf Beitrag Nr.: 30.535.758 von valueinvestor am 07.07.07 11:36:26

Das Beispiel dieses shorties erklärt aus meiner Sicht, warum es im Moment nahezu "rückschlagsfrei" noch oben geht. Mit jedem Dollar mehr dürfte aber die Schar derer, welche Gewinne mitnehmen und billiger wieder einsammeln möchten, zunehmen. Hier darf man auf die neue Woche séhr gespannt sein.

[valueinvestor]

und wieder eines der Wochenenden, an denen ich als einziger sehnsüchtig auf den Montag warte, weil ich wissen will, wies weiter geht.

[valueinvestor]

Eröffnung nach wenigen Trades auf 26,05 (+3,4%)

neues All Time High.

[ralf-norbert]

Antwort auf Beitrag Nr.: 30.593.046 von valueinvestor am 09.07.07 15:32:29

Ich bin ja erst durch Sjuggerud auf das Papier aufmerksam geworden und daher erst lächerliche 50% im Plus. Trotzdem hänge ich immer wieder über dem Verkaufen-Button. Diese Kursexplosion im letzten Monat schreit nach Gewinnmitnahmen.

Ist das nicht schon eine Übertreibungsphase, oder ist dieser Wertanstieg noch fundamental gerechtfertigt?

Ich habe den Fehler gemacht, heute mal in den Quartalsbericht zu schauen, und für mich als gelernten Naturwissenschaftler steht da unter dem Strich einfach ein (kleines) Minus. Vielleicht kann man aus irgendwelchen Gebieten so und so viel Gold holen - vielleicht auch nicht. Ich finde keinen Beleg dafür, dass nur eine einzige Zahnfüllung ihr Material von Seabridge bekommen hat.

Vielleicht sind das ja doofe Fragen, aber womit wollen die eigentlich irgendwann mal Geld verdienen. Mir ist das ganze zunehmend unheimlich....

[SimplyRed]

Antwort auf Beitrag Nr.: 30.597.296 von ralf-norbert am 09.07.07 19:21:48

Das ist nicht Dein Ernst ? Du hast nicht Geld in den Wert investiert, ohne - entschuldige bitte - von Tuten und Blasen ne Ahnung zu haben ?

[DCShoes]

Seabridge geht es nicht um das Ausbuddeln von Gold, sondern um die Entdeckung unerwarteter Goldvorkommen. Und darin ist Seabridge bis heute richtig gut. Das Gold auzubuddeln wird anderen überlassen, die das besser können. Erst damit verdient Seabridge dann das Geld.

Um bei Deinem Beispiel zu bleiben:
Ein Zahnarzt hat auch keine Gewähr dafür, dass Ihm auch nur ein Patient die Rechnung für die Goldfüllung bezahlt. Trotzdem scheint es sich zu lohnen, in eine Zahnarztpraxis zu investieren.

Die bisherigen Resultate aus den neun laufenden Projekten sind hier im Thread und auf der Webseite ausführlich beschrieben.

[curacanne]

Antwort auf Beitrag Nr.: 30.597.296 von ralf-norbert am 09.07.07 19:21:48

...was heißt lächerliche 50%, bezogen auf den kurzen zeitraum ist es viel, steht ja eigentlich viel in diesem thread zu dem wert drin
cura

[valueinvestor]

Antwort auf Beitrag Nr.: 30.597.296 von ralf-norbert am 09.07.07 19:21:48

Seabridge fördert und verkauft derzeit kein Gold sondern Aktien. Dieses Geld stammt von Personen, die das Unternehmen damit beauftragen Gold zu finden und erst mal dort zu lassen wo es ist.
Ziel ist es also, möglichst viel Gold je Aktie im Boden zu haben.
Dabei handelt es sich systematisch um Vorkommen mit hohen Förderkosten, deren Gewinnmarge bei niedrigen Goldpreisen negativ ist. Daher war Sea vor 4 Jahren auch so billig. Bei einem Goldpreis von 350$ interessierte sich niemand für Vorkommen, die sich zu 400$ abbauen lassen. Bei 650$ sieht das anders aus, auch wenn die Förderkosten auf 425$ stiegen. Diesen Hebel will sea ausnutzen bis zu vierstelligen Goldpreisen. Zusätzlich kam mit der Mitchell Zone eine der Goldentdeckungen der letzten Jahre dazu.

Da Sea nie selber produzieren wird, wird die Gewinnerzielung auf einen einzigen Tag fallen, wenn sea übernommen wird (denkbar auch Verkäufe einzelner Properties). Und dann hat sea hoffentlich ein KGV von 0,5 oder drunter.

Mittlerweile tummeln sich im yahoo board eine ganze Menge ziemlich schlecht informierter Jubelperser in eigenem Auftrag. Wenn hinter dem Anstieg nicht strategische Käufer stecken, ist die Zeit wohl reif für eine Korrektur.

[valueinvestor]

Das wird lustig heute:

[SimplyRed]

Antwort auf Beitrag Nr.: 30.615.490 von valueinvestor am 10.07.07 15:46:01

Ich glaub, bei Seabridge muss ich mal ne Ausnahme von dem Spruch mit dem Messer und dem Fallen machen. Weiß nur noch nicht wann. Auf jeden Fall bekommen die Trader jetzt ihre Chance.

[valueinvestor]

Ein Artikel aus der seriösen schweizer "Finanz und Wirtschaft"

Kein Hedging, kein Cash: Das ungewöhnliche Geschäftsmodell der kanadischen Seabridge Gold (Amex SA 15.49$ am Montag) wurde an dieser Stelle vor einem Jahr bereits vorgestellt (vgl. FuW Nr.39 vom 20.Mai 2006). Seither haben die Valoren 75% zugelegt und verfügen über weiteres Potenzial. An einer Präsentation in Zürich erklärt Seabridge-CEO Rudi Fonk: «Unsere Gesellschaft ist auf maximale Partizipation an einem steigendem Goldpreis ausgelegt. Wir betreiben kein Hedging und verfügen kaum über Barmittel.» Jede Kapitalerhöhung in der Vergangenheit sei mit privaten Geldgebern in wenigen Tagen durchgeführt worden. Weil Seabridge keine Investmentbank-Dienstleistungen benötige, werde das Unternehmen «im Gegenzug» bestraft und von keinem Institut beobachtet.
Die Geschäftstätigkeit ist auf Nordamerika beschränkt, das reduziert die politischen Risiken. Im Jahr 2000 erwarb Seabridge zwei der meistversprechenden Minen Kanadas zu einem tiefen Preis. Rohstoffriesen wie Placer Dome und Newmont Mining wollten damals das Goldgeschäft reduzieren. Zudem verfügt Seabridge über die meisten Explorationsprojekte in Nevada. Der US-Bundesstaat ist in Sachen Steuervergünstigungen und Bewilligungsverfahren der «explorationsfreundlichste Ort der Welt».
Kein Unternehmen weist je Dollar Börsenwert einen höheren Goldbestand aus. Eine Unze Goldreserve wird mit 22$ Börsenwert aufgewogen, der nächste «nähere» Konkurrent weist mehr als das doppelte auf. Für die meisten Explorationsgesellschaften bewegt sich der Wert im dreistelligen Bereich anzumerken gilt, dass nachgewiesene und nicht nachgewiesene Vorkommen zusammengerechnet werden. In den vergangenen Monaten hat das Unternehmen die Goldreserven weiter erhöht, wobei Seabridge die Exploration nie selbst durchführt, sondern von Partnern erledigen lässt.
Ein feindliches Angebot ist gemäss Rudi Fonk nicht möglich. «Sechs Telefonate, und ich habe mit befreundeten Investoren gesprochen, die über 50% der Aktien halten», führt er aus. Insider halten 12,5% an der Gesellschaft. Der bekannte kanadische Rohstoffinvestor Albert Friedberg kontrolliert 22% an Seabridge. Er sei der Grund, dass zahlreiche Investoren in blindem Vertrauen auf sein Know-how in die Goldholding investieren, führt der Seabridge-Chef aus.
Sein Unternehmen sei einem Verkauf aber nicht abgeneigt, führt der CEO an. Vorläufig sei der Preis zu tief. Um eine angemessene Offerte zu erhalten, müsste zuerst der Aktienpreis gesteigert werden. «Denn egal wie gut das Übernahmeobjekt ist Goldkonzerne zahlen kein Prämie über 30%, um nicht in den Verdacht zu kommen, zu überzahlen», erklärt der Gold-Manager. Angesichts dieser Aussichten lohnt es sich auch für Anleger in Seabridge zu investieren. Es gilt sich indes vor Augen zu halten, dass das Unternehmen kein operatives Geschäft führt und mit dem Goldpreis korreliert.WG

[valueinvestor]

[konradi]

Mensch Value - jetzt hast Du sogar schon ein "Wiki" für SEA zusammengestellt:

http://www.valuewiki.com/w/SA#Company_Analysis

- wow ! Gruß K.

[valueinvestor]

Wenn ich das richtig mitbekommen habe:

In einer Woche ist Verfallstermin für Seabridge Optionen. 22,50$ oder 25$ als Basis, das dürfte weiterhin für granatenmäßige Volatilität sorgen.

[derivatus]

@value

das open interest fuer den Juli Verfall ist vernachlaessigbar.

Strike 22.5 : calls 368 Puts 666
Strike 25 : calls 988 Puts 210

quelle : etrade.com

[rank00]

Antwort auf Beitrag Nr.: 30.535.090 von valueinvestor am 07.07.07 10:31:12

"Sjuggerud schrieb:
"I just bought $30,000 worth of his stock," someone whispered in my left ear as we sat listening to a speaker.

Actually, it wasn't just "someone" that whispered in my ear. It was the CEO of a gold company.

You see, I was at the True Wealth Gold Conference in Long Beach last week, which I helped organize. We hand-selected the companies that we thought were the very best opportunities right now in gold and metal and invited them to present their stories. I thought there was a chance that one of these companies could make us many times our money in gold. It turns out, we found such a company...

The CEO who sat next to me during the presentation knows about gold deposits: I had personally invited him to speak at the conference, too! But once he heard that speech, he had to get in to the stock immediately – he couldn't even wait until the speech was over.!"



Dabei ging es aber doch nicht um Seabridge selbst, sondern um die "neue" Seabridge die Sjuggerud ausfindig gemacht haben will.
Weiß vielleicht jemand um welche Firma es sich dabei handelt?

[valueinvestor]

Antwort auf Beitrag Nr.: 30.712.336 von rank00 am 16.07.07 16:01:16

Das ist doch der Witz: Die "neue" Seabridge ist dieselbe wie die alte.

[valueinvestor]

aus FORBES.com:

Market Scan
A Subprime Day On Wall Street
Andrew Farrell, 07.18.07, 2:50 PM ET


A day after exploring record territory, U.S. equity markets receded Wednesday afternoon after a big investment bank warned of major problems with its subprime holdings. The warning raises concerns that the problematic mortgages will seep into the broader economy.

In midday trading, the Dow Jones industrial average was down 0.7%, or 99.42, to 13,872.13, just a day after flirting with the 14,000 mark. The Nasdaq composite fell 1.1% and the S&P 500 fell 0.7%.

Subprime concerns weighed on the equity markets. Bear Stearns (nyse: BSC - news - people ) told clients late Tuesday that two of its subprime-holding hedge funds are now nearly worthless. Subprime loans, which are made to borrowers with poor credit, have been defaulting at higher-than-expected rates. The increased defaults have already stung the companies that made the loans but the Bear admission ratchets up worries that subprime problems are extending their reach to Wall Street.

Federal Reserve Chairman Ben Bernanke did little to assuage those worries at testimony before Congress Wednesday. "For the most part, financial markets have remained supportive of economic growth. However, conditions in the subprime mortgage sector have deteriorated significantly."

Subprime concerns put investment banks among the biggest losers Wednesday. Shares of Bear Stearns were down $2.32, or 1.7%, to $137.59. Shares of Merrill Lynch (nyse: MER - news - people ) fell $3.38, or 3.9%, to $82.82.

One sector bucking the general trend Wednesday was gold producers. They got a lift from concerns about a subprime-rattled economy and a weak dollar, which fell 0.8% against the euro. Shares of Seabridge Gold (amex: SA - news - people ) gained $1.35, or 5.7%, to $25.10; shares of Golden Star Resources (amex: GSS - news - people ) climbed 16 cents, or 4.1%, to $4.11; and shares of Kinross Gold Corporation (nyse: KGC - news - people ) added 47 cents, or 3.6%, to $13.68.

Da merkt man, in welcher Liga Sea mittlerweile angekommen ist.

[rank00]

Antwort auf Beitrag Nr.: 30.713.292 von valueinvestor am 16.07.07 17:01:29

Ja, wie???
Wieso schreibt er dann von der "nächsten Seabridge", wenn er doch Seabdridge meint?

[valueinvestor]

Antwort auf Beitrag Nr.: 30.756.921 von rank00 am 19.07.07 11:05:15

Ein rhethorischer Trick.

--------

Top 5 Performing Gold Equities
(among 45 listed on the various gold indices)

Tanzanian Royalty Exploration Corp +1.54%
Harmony Gold Mining Co Ltd +0.93%
Harmony SB CC JSE: +0.92%
Randgold Resources Ltd +0.67%
Newmont Mining Corp +0.63%

--------

und Sea, die unglaubliche, +8,2%

[konradi]

aber Value, rhetorische Tricks haben wir doch gar nicht nötig, oder ? - Und wahrscheinlich wird SEA auch nie auf diese Kitco Liste kommen...


Seabridge Gold Advances To Multi-Year High

Monday, July 23, 2007; Posted: 10:57 AM

(RTTNews) - Seabridge Gold (SA | charts | news | PowerRating) broke near-term resistance to reach a multi-year high during the first ninety minutes of the session Monday. The stock gapped open higher before leveling off over the first fifty minutes of trading. Shares began to climb after 10:20 am ET. At 10:56 am, the stock traded at a mark of $27.55. This was a gain of $1.75 for the day.


P.S. SA has received a PowerRating of 5. TradingMarkets PowerRatings are a proprietary stock rating method which ranks stocks on a scale of 1-10. The higher the rating, the greater the one week historical gain has been for stocks with that rating. PowerRatings is an easy-to-use system that assigns a rating based on the relative strength or weakness of particular stocks. This rating system helps traders and investors anticipate their investment strategy over the next 1 to 5 trading days.

Gruß K.

.

[valueinvestor]

Der erwartete non-event, Noche Buena ist noch weit aus dem Geld:

July 24, 2007
Drilling Results Confirm SE Extension of Seabridge Gold’s Noche Buena Deposit
Assays Awaited From a Further 26 Holes
Toronto (Canada) — Seabridge Gold announced today that assay results from the first seven drill holes at its 100% owned Noche Buena project have confirmed a southeast extension of gold mineralization with grades and thicknesses consistent with the known deposit.

In April, Seabridge commenced a reverse circulation drill program designed to expand the known gold resource at Noche Buena by testing three targets within and adjacent to the existing deposit (see news release dated April 16, 2007). The program is now complete consisting of 33 holes totalling approximately 8,000 meters. The first seven holes of the 2007 program were designed to test a potential southeast extension of the deposit. Assay results from all seven of these holes show gold mineralization in multiple stacked zones as follows:

(...)


All seven holes were drilled from northeast to southwest at an azimuth of 230 degrees and an inclination of minus 65 degrees. True thicknesses of the reported gold intercepts will not be known until geologic interpretations have been completed following the receipt of all assay results.

Seabridge President and CEO Rudi Fronk said the results to date “are exactly what we were looking for. It now appears likely that our geological interpretation is correct and the deposit is considerably larger than originally thought”. Assays from the remaining holes are expected within the next several weeks and will be released as soon as they have been compiled and reviewed.

The Noche Buena project is located in northwestern Sonora State, about 55 km from the city of Caborca and within the geological terrain that is host to several large gold deposits, including the La Herradura and Mesquite Mines. Seabridge Gold purchased the property in April of 2006 and completed a NI 43-101 compliant technical report that confirmed a resource (at a cutoff grade of 0.30 grams of gold per tonne) of: 21.9 million tonnes of indicated resources grading 0.81 grams of gold per tonne (569,000 ounces) plus an additional 14.0 million tonnes in the inferred resource category grading 0.68 grams of gold per tonne (308,000 ounces).

Exploration activities at Noche Buena are being directed by William Threlkeld, P.Geol, an officer of the Company and a Qualified Person as defined by National Instrument 43-101. An aggressive QA/QC procedure has been implemented to insure this new drilling is comparable in quality to previous resource delineation drilling. Results from this program will be incorporated into a revised resource model of the Noche Buena property. An updated resource estimation for the deposit incorporating this new drilling is expected in the third quarter of 2007.

[valueinvestor]

D mit Umsatz und D - man höre und staune - mit Aufgeld.
Jetzt 13 bagger, morgen 14?

[valueinvestor]

Aus dem yahoo board:

Steve Sjuggerud Today

CLOSING IN ON 1,000% IN SEABRIDGE GOLD

Back in 2005, Steve recommended buying shares in tiny gold company, Seabridge Gold (SA). The company was trading for around $2.64 a share.

Seabridge isn't your typical gold stock... the company hasn't produced a single ounce of gold since coming together in its current form in 2002. Seabridge's brilliant management has simply "hoarded" gold in several of the largest precious metal deposits in North America.

Closing in on a 1,000% gain for Sjuggerud Confidential readers, Seabridge is soaring due to excellent new drilling results and the lure of takeover bids. Just three weeks ago, we said the stock was near the upper atmosphere on its way to moonshot status. Now, with gains of around 960%, we'll say that Seabridge is truly shooting the moon. Hold on for the ride...

[SimplyRed]

Antwort auf Beitrag Nr.: 30.826.444 von valueinvestor am 24.07.07 13:43:04

Wir stehen in den USA jetzt bei 29,50 USD. Kursmäßig also alles andere als ein non-event. So ändern sich die Zeiten. Um auf das letzte posting zurückzukommen:

Will you hold on for the ride or are you getting nervous after you have a fourteen-bagger ?

[valueinvestor]

Ich will sea bei Gold 1.000 sehen, will wissen was es in Mitchell alles gibt und wo der Ritt noch hinführt.
Dann überleg ich mal.

[konradi]

.

Okay es ist ein plumper Pushversuch: unter derzeitigen Rahmenbedingungen und einem Goldpreis von 700 $ liegt
mein Kursziel bei etwa 80 $



Aber man kann diese Zielvorgabe belegen. Valueinvestor kam, wenn ich mich recht erinnere schon auf 65 $ (konservativ) und für die, die nicht im Yahooboard mitlesen hier ein in etwa gleichlautender Befund vom user {b]"keizaigakusha"[/b]

Given the detailed information that does exist about SA's project, it is worth going through the numbers to try and ascertain a valuation. Saying SA has x $ per ounce of gold is a good back of the envelope calculation, but one can try and use discounted cashflows to arrive at a more precise figure.

Lets give it a shot. Assuming the usual economic parameters (40% tax rate, 5% discount rate, $600 long-term price of gold, $2 long term average price per pound for copper), we can value two of SA's flagship projects.

Courageous Lake: The study from 2005 had construction costs of around $630 million. With all the recent inflation in mine construction, I'll be conservative and assume $900 million in costs. Next, we know the study uses a 25,000 tonne per day operation, with recovery rates of 90% on an average mining grade of roughly 2.1 g/tonne. Costs are $8.61 per tonne processed.

Assuming the usual 5-years of permitting and construction time, 12-year mine life, I arrive at an after-tax net present value of $675 million dollars.

Mitchell / Kerr Sulphurets:

We have no economic study yet for this deposit, but it is safe to use Nova Gold's Galore Creek pre-feasibility study parameters to estimate a project for the Mitchell zone since it is the same scope and proximity. Assuming initial construction costs of $2 billion, 5-year permitting / construction time, 75,000 tonne / day operation, 90% recovery rate, $6.50 per tonne operating costs, .72 g/t of gold, .18% copper, 20-year mine life, I arrive at an after-tax NPV of $1.32 billion.

So, these numbers imply a value of $1.42 billion plus $675 million of $2.095 billion or $55 per share value of SA.

Here are some other copper / gold combination values:

$2.50 lb / $650 gold: $63.29 a share
$4.00 lb / $650 gold: $88.42 a share
$3.50 lb / $700 gold: $87.37 a share
$3.50 lb / $800 gold: $102.02 a share.

It should be obvious that SA exhibits not only strong leverage to the price of gold, but also copper (it has 5 billion pounds currently). Clearly, the above analysis does not even take into account the possibility of expanding the Mitchell deposit from its current resource estimate, so these numbers are even more conservative than what the promise of SA holds...


Sentiment : Strong Buy

Richtig spannend wird es also erst mit dem Mitchell-Projekt ...

[valueinvestor]

Ich habe keiza schon mehrmals gebeten, seine Kalkulationen mit einem höheren Zinssatz abzudiskontieren, aber da stellt er sich taub. Für eine 5% Rendite würde ich jedenfalls mein Geld nicht in eine Mine investieren, obwohl - bevor ich Staatsanleihen kaufen muss...
Mittlerweile wird Seabridge wirklich bekannt. Mit den leider üblichen Begleiterscheinungen. Sowohl auf der long- als auch auf der short Seite tummeln sich Anleger mit erschreckend niedrigem Kenntnisstand im yahoo board. (Hat Seabridge seine Properties wirklich schon vor 2005 gekauft?). Ein anderer behauptet, Sea würde von Fonds hochgekauft, die sich die Aktien zuschieben, weil der Aktienpreis so niedrig ist (wer kennt einen Explorer der über 30$ kostet? )
Gestern wußte ein blogger namens Iceman, dass Seabridge im nächsten Monat eine Übernahmeofferte zu 41$ bekommt.

Jedenfalls werden im August die Bohrergebnisse zur Mitchell Zone nach und nach reinkommen, schön portioniert.

[SimplyRed]

Antwort auf Beitrag Nr.: 30.953.995 von valueinvestor am 31.07.07 17:32:01

Hoffentlich gibt's dann kein "sell on good news"

[valueinvestor]

Der Kurs wirkt auf mich sehr sehr zielstrebig. Weiß nicht, ob ich mich drüber freuen soll, mir wäre es zu früh.

[konradi]

hmm, sehe ich auch so. Und was vermutest Du ?

[konradi]

In two years the price of gold has risen 60%. But shares of Seabridge Gold have jumped 1,375% to $28, producing a $980 million market cap.

In its 18 years of existence Seabridge has had four more names than ounces of the yellow stuff that it sold. The Toronto firm, which has nine employees, says it's looking in Canada, Mexico and the western U.S. Boss Rudi P. Fronk describes the strategy since 1999 as acquiring properties when gold prices are depressed.

At some point, he says, rather than mine, Seabridge will sell the real estate, maybe to a mining giant. Fronk estimates Seabridge now has 32 million ounces of gold in the ground, one ounce for every 1.25 shares.

But he says U.S. Securities & Exchange Commission rules forced the company to state in a recent filing that it "has no known reserves." --W.P.B.`/ Forbes

[valueinvestor]

Entweder scheint Insidern das Potential von Mitchell klarer als uns Laien (sjuggerud-Artikel) oder jemand kauft, weil er den Laden haben will.

[konradi]

Also, diese Sjuggerud-Lobhudelei scheint den Jungs da drüben ja mächtig einzuheizen ...

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks…


Hier noch ´ne Randmeldung zu http://www.teuton.com/ - die buddeln nämlich nordöstlich des Mitchell Deposit:

The Treaty Creek property lies at the north end of the Sulphurets porphyry gold and gold-copper district. Drilling in 1996 by Seabridge Gold Inc. and Silver Standard Resources Inc. on their two properties within the district has led to a marked increase in gold and copper resources. Three porphyry deposits controlled by Seabridge Gold and one by Silver Standard currently boast a global resource (all categories) containing 19.5 million oz of gold and 5.0 billion lbs of copper. Each of these two companies is currently drilling an additional 9,000 meters aimed at determining the full limits of these deposits.

[valueinvestor]

Antwort auf Beitrag Nr.: 30.989.852 von konradi am 02.08.07 19:17:05

Der Geologe eines Newsletters besichtigte die Kerr Sulphurets. hier sein Bericht:

August 8. 2007
Seabridge Gold Update
The flight was as close to skydiving as I'd like to get.

I just took a trip to see Seabridge Gold's (AMEX: SA) Kerr-Sulphurets-Mitchell properties in a remote corner of British Columbia. I had just wrapped up the Agora Financial Rim of Fire conference in Vancouver. Since I was in the neighborhood, I thought I'd check in on a key project for one of the star performers in the S&A Gold Report model portfolio – Seabridge has gained more than 150% since we published a June 2006 special report on it.

After my visit, I'm convinced that, despite its recent growth, Seabridge remains undervalued by the market. I'll explain in a minute, but first let me tell you about the property...

The site is remote. To be specific, you can only reach this outpost by taking a beautiful, harrowing helicopter ride from the mining town of Stewart, British Columbia (pop. 700).

From the front seat of the helicopter, I watched the mountains soar above me, while glaciers, striped like pulled toffee, stretched out below. We'd be a hundred feet above snow, often with a ragged ridge of rock on either side. Then suddenly, the ground would drop thousands of feet down to the valley.

The camp sits on a heavily wooded hill just above Sulphurets Lake. I had visions of a crystal clear, trout-filled heaven, but it's not like that. The lake is the color of concrete, with about the same consistency. The glaciers scour the rocks above as fine as flour. All that silt flows off the glacier into the lake.

Where the glacier retreats, the land is raw rock covered in scrub and cottonwood trees. Above the glaciers, landslide scars periodically interrupt forests of huge trees, which stop at the tree line just a few hundred feet above camp. Further up, most of the landscape is low scrub and moss.

The barren cliffs are like a geological textbook open to the chapter on giant copper-gold porphyry systems. Whole mountainsides stand out, orange and stained. Standing on the Kerr deposit, across the valley from Sulphurets, you can trace the outline of the deposits by their colors. In fact, from the helicopter, the minerals looked like a giant ribbon of orange sherbet swirled through the mountains.

That bright orange color does not always mean economic mineralization. In fact, iron pyrite, or "Fool's Gold," causes much of the stain. The orange color is rust, as oxygen replaces the sulfur in the mineral.

Iron pyrite is part of a family of sulfur-rich minerals called sulfides. These minerals indicate that hot, sulfur-rich water bathed the original rock and left behind copper, zinc, lead, silver, molybdenum, and gold.

There is no question that metals other than iron exist here. The helicopter also flew past several streams stained bright blue from copper leaching out of the rock. That's the kind of staining you see on copper building facades. I've never seen anything like that coming from rocks before.

Seabridge has completed few drilling campaigns at the Kerr-Sulphurets-Mitchell properties, and the big picture there is clearing up. Still, the more Seabridge drills, the more it needs to drill…

What the Geologists Know
It appears to be a huge district of alteration with five significant mineralized zones: Kerr, Sulphurets, Mitchell (from here on called KSM), Ironcap, and Snowfields. Several other smaller mineralized zones – such as Canyon, Lake, and the Main Copper – appear to be parts of the same system, separated only by geographic boundaries.

The market does not understand just how big these deposits are, nor how large they are likely to become. But the geologists know. They walk around with huge grins on their faces. It's a once-in-a-lifetime discovery, and they turn down offers from other companies at twice their current salaries to stay here and work.

Seabridge's problem, at least in terms of its market value, is what is known as "inferred resource."

A resource estimate – or inferred resource – is a calculation of the volume of a mineral deposit and its average grade. An engineer calculates the resource from the grades and thicknesses derived from drilling results.

The problem with inferred resources is that they are built around very few drill holes. That's why I'm usually very cautious about inferred resource estimates. In fact, I often discount the inferred resource completely.

But sometimes, the estimate is solid enough to bank on. Barrick bought out Arequipa before it could even calculate a resource. The Barrick geologists visited the site and saw the size of the system and the assays from the first few holes. They knew the story right away, without any resource estimates. Arequipa's stock went from 35¢ to $30 in just 18 months with Barrick paying $1 billion to buy it.

In this case, I think the size of KSM will grow as Seabridge's drilling continues. The consistency of the assay results is among the reasons I believe this. The geologists at the site laugh about the core that comes from the new holes. It has little variation. In fact, it's so consistent that the geologists call the new locations adjacent and in between last year's holes "FBs" – as in "Fish in a Barrel," because the targets are so easy to hit.

And that's why the inferred resources at KSM are believable. Hole after hole has the same looking material. The assays come back, one after another, with only the smallest variations, something these geologists have never seen before.

Some simple, back-of-the-envelope calculations tell me that Seabridge could add hundreds of millions of tons of economic rock this year. That equates to several million ounces of gold and hundreds of millions of pounds of copper.

The initial knock on these deposits is their grade. However, the sheer magnitude of these deposits trumps their grade. In fact, only about 20% of all the gold produced last year came from mines with grades higher than the KSM project. But that's just part of the story. The unrecognized value in these deposits is the copper.

The market is not giving Seabridge any credit for the massive amount of copper in its deposits. Because Seabridge presents itself as a gold company and measures its progress in ounces of gold per common share, the market isn't giving Seabridge credit for its actual resources. If you put all of the KSM resource into the indicated category, which I think will happen eventually, then Seabridge trades for about $40 per measured and indicated ounce of gold… without including the copper.

That valuation completely ignores the 4.9 billion pounds of copper resource at KSM. In fact, if we ignore Seabridge's gold resource, then we can buy its copper for about 20¢ a pound and get all the gold for free.

We can compare KSM with Nova Gold's Galore Creek and Northern Dynasty's Pebble West.

Deposit Tonnes (billions) Gold Grade (g/ton) Oz (millions) Copper Grade Copper Lbs (billions)

Pebble West*
2.8 0.42 32.6 0.31% 19.4

Galore Creek**
1.0 0.27 9.4 0.48% 10.9

KSM
0.76 0.67 16.4 0.30% 5.0

* Additionally 152.8 million ounces of silver
** Additionally 1.0 billion pounds of molybdenum


The main difference in the three deposits is that Seabridge views KSM as a gold deposit with a copper credit. The other two projects are copper projects with gold credits. It could be semantics, since the gold grades are pretty low.

Still, at the current grade, KSM contains two times the gold in Galore Creek at the same tonnage. In fact, at only 1.5 billion tonnes, it will contain as much gold as Pebble West.

And remember, KSM will grow this year. The current resource model does not take into account Ironcap and Main Copper. It also does not assume any mineralization between Mitchell and Sulphurets. I can't vouch for the grade, but only the blind can't tell those two deposits are related. In fact, it could grow by roughly 380 million tonnes this year, pushing it past the 1 billion tonne mark. Assuming a gold grade of 0.5 grams per tonne, the growth would add roughly 6 million ounces of gold.

At the current valuation of $30 per ounce, that would add about 15% to the current share price.

And consider this: Part of this year's drilling operation is in an area called Main Copper. The geologists originally thought this zone barren, because it is rock that was forced up over the mineralized zone. However, recent drilling results show that Main Copper has marginal gold and copper values.

In an open-pit mine, that rock will at least pay for the cost of stripping it out. That changes the economics of any proposed mine.

This is still an undervalued company. KSM is just part of the portfolio. The market places a huge discount on the company's assets. I'd be willing to pay a premium for this combination of management, skilled geologists, and world-class deposits.

Regards,

Matt Badiali

Keine Frage, das kribbelt!

[DCShoes]

..."In fact, if we ignore Seabridge's gold resource, then we can buy its copper for about 20¢ a pound and get all the gold for free."

Sehr schön, value :-) Vielen Dank für die prompte Versorgung mit Infos.
Ich sollte meine peruanischen Kupferengagements nochmals überdenken..

[valueinvestor]

sea im Depot spart dir den Europapark. Jetzt sogar grün!

[valueinvestor]

http://www.jmdutton.com/research/sa/reports/sa_report_080907…

und ein Update von JM Dutton.

[konradi]

[…] Following the conversion of warrants by Xstrata, Seabridge Gold’s available cash has grown to more than C$30 million, indicating that the company has more than enough cash to finance exploration next year as well as repurchase shares, Dutton Associates adds...

http://www.newratings.com/analyst_news/article_1589934.html

http://money.cnn.com/news/newsfeeds/articles/marketwire/0288…

http://finance.yahoo.com/charts#chart13:symbol=sa;range=1d;i…

.

[valueinvestor]

Heute mit Gap weggesprungen und die "üblichen" 8% im Plus

Die Börse vermutet offensichtlich ein Monster Porphyry System unter der Main Copper Cap.
Wenn die Kappe genügend Mineralisierung hat um die Aufbereitung gegenzufinanzieren UND Sulphurets und Mitchell zusammenhängen, sieht es so aus:
2,800m * 800m * 350m * 2,7 (spez. Gew.))
--> 2.116.800.000 t mit 0,72 gr/t gold
--> Macht 50 Millionen Unzen + ziemlich viel Kupfer.

Damit wäre KSM eine worldclass discovery.

Die "Rechnung" ist natürlich hoch spekulativ, aber der Kurs will in Richtung dieser Meldung.

[valueinvestor]

Habe gerade folgendes entdeckt:

unter den Instis, die Sea besitzen ist auch:

Dr. Jens Ehrhardt Kapital AG mit 100,000 Stück gekauft wohl um 12/31/06.

Dann mal ein ein verspätetes "Willkommen im Club" nach Pullach!

[konradi]

.

Ach, value DU bist also nicht Jens Ehrhardt ?
Hmm, da bleiben dann ja nur noch "Dividendenstratege", "Derivatus" und "investival" ...

[derivatus]

Bei 6 Milliarden verwaltetem Vermoegen muss Sea noch ein ganzes Stueck steigen bis sich das merklich auf seine Performance auswirkt.
In seiner Publikation Finanzwoche stand noch nix drin.

[valueinvestor]

also bist du Jens?

[derschweizer]

29,55 USD -2,14 USD -6,75 %

...kündigt sich hier ein Sell-Off an Value-Berater?

derschweizer

[konradi]

Antwort auf Beitrag Nr.: 31.173.684 von derschweizer am 15.08.07 19:11:09

ja das schmerzt heute mit Cardero (- 20 %) nicht wahr ? - aber die Retourkutsche ist ziemlich billig, mein Lieber

[valueinvestor]

Antwort auf Beitrag Nr.: 31.173.684 von derschweizer am 15.08.07 19:11:09

noch Fragen, Kienzle?

Schade Schweizer, ich habe dich zu den Zeiten, als der Carderothread noch sachlichen Diskussionen zugänglich war für einen der verständigeren User dort gehalten. Mittlerweile bist du mit gsx zusammen die Niveauunterkante.

[derschweizer]

Antwort auf Beitrag Nr.: 31.177.264 von valueinvestor am 15.08.07 23:51:45

und wieder andere hat es nicht zerlegt.

31.05 Change: -2.51 -7.48%




28.80 Change: -2.89 -9.12%




...und es wird weiter abwärts gehen Value!

derschweizer

[DCShoes]

sorry schweizer, hier kann Dir niemand richtig folgen.
Du platzt hier rein und polterst mit komischen Meinungen herum.

Die Leser dieses Boards sind mit Seabridge zumeist recht glücklich. Hat sich in letzter Zeit wunderbar gehalten und ist sogar gestiegen. Tägliche Schwankungen von bis zu 20% hat diese Aktie schon immer gehabt, da brauchst Du also nicht drauf hinzuweisen. Es handelt sich trotzdem um die Aktie in meinem Portfolio, die die stabilste und nachhaltigste Wertentwicklung aufweist.

Würdest du Deinen persönlichen Kleinkrieg bitte woanders ausfechten? Hier ist das unerwünscht.

[konradi]

Antwort auf Beitrag Nr.: 31.181.607 von DCShoes am 16.08.07 11:31:48

.
Genau ! Dem ist absolut nichts hinzuzufügen !
.

[derschweizer]

Antwort auf Beitrag Nr.: 31.181.607 von DCShoes am 16.08.07 11:31:48

Du platzt hier rein und polterst mit komischen Meinungen herum.

...das sind keine Meinungen, sondern Fakten!
Ein Chart lügt nicht, Value weiss das! Value sag`s ihnen!
Euer ehrenwerter Oberguru (Berater) kennt sich bestens in dem Thema Meinungs/Stimmungsmache aus!

Auf steigende Kurse

derschweizer

[Neono]

Antwort auf Beitrag Nr.: 31.184.357 von derschweizer am 16.08.07 14:01:13

Drüben 23,50 x 23,50

[konradi]

so what ?

an der AMEX 28,80 (14:30 MEZ) - hatten wir vor genau vier Tagen auch schon. Ärgerlich, aber kein Grund in der Sandkiste mit Förmchen rumzuschmeissen ...

Gruß an Neono !


http://finance.yahoo.com/charts#chart2:symbol=sa;range=5d;in…

.

[Neono]

Antwort auf Beitrag Nr.: 31.184.938 von konradi am 16.08.07 14:36:35

Hallo Konradi

Jetzt nur noch 21 x 21 in Canada.

Dir drück' ich natürlich trotzdem alle Daumen. Du hast was tolles hier ausgegraben.

Neono

[valueinvestor]

Industries best leverage on gold - qed

[DCShoes]

Antwort auf Beitrag Nr.: 31.185.045 von Neono am 16.08.07 14:42:08

@neono / schweizer:

Ich verstehe Eure kurzsichtige Herangehensweise und Euren Blick auf den Intraday-Chart nicht. Es gibt Leute, die haben keine Lust, mit Euch Ihr Vermögen wie bei Cardero binnen 2 Monaten zu verzocken, sondern sind langfristiger ausgerichtet.

Natürlich habe Ihr Recht, der Kurs ist am sinken. Aber um das zu sehen muß man kein so toller Fachmann sein, wie Ihr es seid. Ich bin beeindruckt, wo Ihr immer so schnell die Kurse herbekommt..

Wie gesagt, Sea ist seit ewigen Zeiten (2004) im Depot und da wird die Aktie sicherlich auch noch weiter liegenbleiben. Ich weiß gar nicht, was Ihr euch aufregt, da Ihr die Aktie ja wohl ohnehin verpasst und nicht im Depot habt.

Zum Thema Guru:
Es gibt Leute, die legen Ihre persönlichen Ansichten über Aktien über eine lange Zeit ausführlich dar, wägen öffentlich für und wider ab. Und man erkennt: Der Mann hat ein Händchen, tolle, spannende Aktien rauszupicken, die nicht jeder im Depot hat. Man weiß und akzeptiert aber auch, dass einige dieser Vorschläge in die Hose gehen, denn über die Risiken wird man meist ebenfalls aufgeklärt.

Es gibt aber auch Gurus, die müssen auf jedes Einzelposting persönlich antworten. Und wenn mal keiner postet, dann werden eben Intradaykurse gepostet oder in anderen Foren rumgestänkert.
Solche Gurus haben eine mir unangenehme, oft blind ergebene Anhängerschaft. Solche Gurus fallen tief, wenn Sie mal Unrecht haben und die Anhängerschaft das merkt und sich besseren Gurus zuwendet.

Neono, ich wünsche Dir das nicht. Ich wünsche nur, dass Du uns hier mit so hochqualifizierten Beiträgen in Ruhe läßt. Deine Leute warten woanders auf Dich.

[derivatus]

habe eben die Vola ausgenuetzt und Puts September Basis 20 fuer 2 USD verkauft. Werde ich ausgeuebt kriege ich noch ein paar Sea fuer 18 USD ins Depot.

[DCShoes]

Antwort auf Beitrag Nr.: 31.190.732 von DCShoes am 16.08.07 19:18:18

der letzte meines Postings Absatz sollte mit "Schweizer" beginnen, nicht mit "Neono". sorry..

[Neono]

Antwort auf Beitrag Nr.: 31.190.732 von DCShoes am 16.08.07 19:18:18

Wie kommst du darauf, dass wir unser Vermögen in 2 Monaten bei CDU verzocken wollen?

Es war doch verlockend diesem Charakterschwein (seine Meinung über sich selbst) zu zeigen, dass auch SEA noch vor solchen heftigen Verlusten in solchen Zeiten gefeit ist. Gestern hat er noch gross rumgetönt. Heute isser a bisserl ruhiger inzwischen. Ja, mir geht es nicht um SEA, sondern um valueinvestor, der sich benimmt wie das was er von sich selbst behauptet hat - ein Charakterschwein.

Vielleicht hol' ich mir ja auch ein paar SEA. So bei 15 Dollar oder 12 vielleicht

Aufwärtstrend deutlich gebrochen und starkes Verkaufssignal des MACD.



Good luck!

Neono

[DCShoes]

Antwort auf Beitrag Nr.: 31.190.955 von Neono am 16.08.07 19:27:06

@Neono:
stell Dich mal nicht an wie ein kleines Kind.

Der Tag war stressig für uns alle, das ist jedoch kein Grund den geballten Frust auf jemanden abzuladen, der hier gute Arbeit macht.

Sachliche Diskussion sieht anders aus. Beleidigen kann jeder. Diskutieren und neue Ideen entwickeln nur wenige.

Jetzt verschwinde am besten wieder aus dem Thread und geh zurück Deinen Cardero-Jüngern. Für die zählst Du noch was! Oder haben die auch schon mitbekommen, dass es mit Dir keinen Spaß macht?

DC

[konradi]

.

ich halte die Begründung zwar für völlig schwachsinnig, aber im Yahoo-Board schreibt ein "Steckie" :

Apparently Porter Stansberry (steve sjuggeruds boss)said today...that he thought gold would correct to 20% or $550 in the next 12-18 months based on that was the % change that gold had dropped in 1990 after the S&L crisis...perhaps Dr Steve could enlighten his boss that things are just a tiny bit different today ...however when you have a lot of followers subscribing to a division of Stansberry (true wealth) ( & although the XAU was up 3.6%)... I guess the subscribers panicked and there was a rush for the exits..not by one big seller as I mentioned earlier..but by a lot of smaller retail traders... I don't know when the selling will stop..( it might already have)nevertheless I'll be buying as I was this afternoon as I know nothing has changed at any of their properties..especially Mitchell..I am quite sure that this property will be one (if not) the largest gold/copper discovery in Canada made in over a generation...stay tuned..Steckie

[valueinvestor]

Antwort auf Beitrag Nr.: 31.271.953 von konradi am 23.08.07 18:25:44

Der Chart war schon immer brutal volatil. Wir setzen gerade mal auf der alten oberen Trendlinie auf. 20 oder 30% Verlust war immer zwischendurch drin.

[macvin]

Antwort auf Beitrag Nr.: 31.190.955 von Neono am 16.08.07 19:27:06

Ich halte zwar keine SEA (ich habe das versäumt) aber der Chartauschnitt in Deinem Posting zeigt nur die halbe Wahrheit (blau=CDU):



Ein ähnliches Bild würde sich ergeben, wenn man z.B. SSRI mit CDU vergleichen würde. Warum das so ist? Du weißt es, aber würdest in Deinen Threads nie zulassen, dass diese Meinung gepostet wird. Deshalb verkneife ich mir das auch dort, denn ich habe keine Lust mir von einem Dutzend Wadlbeisser, die letztendlich (trotz offensichtlicher Verluste mit CDU) nur Deine Meinung wiedergeben, ans Bein pinkeln zu lassen.

Insofern stimmt eben genau, was @dcshoes in #399 in der zweiten Hälfte seines Postings schreibt.

Natürlich leiden die meisten PM-Werte unter der momentanen Situation. Entscheidend ist aber die langfristige Entwicklung. Und die bevorzugt Werte, die eben Ressourcen konsequent entwickeln.....was man von CDU nun wahrlich nicht behaupten kann.

macvin

PS: Hi konradi, schön mal wieder zu sehen, dass du auch noch im Geschäft bist.

[Neono]

Antwort auf Beitrag Nr.: 31.272.723 von macvin am 23.08.07 19:27:51

Kehr' vor Deiner Haustüre, die da Moto und Aurora heisst

[derschweizer]

Antwort auf Beitrag Nr.: 31.272.160 von valueinvestor am 23.08.07 18:40:51

...schon klar value, warum Du user konradi deinen Chart anbietest!




C$ 22.40 Change: C$ -3.09 -12.12%


...ich würde mal vorsichtig sagen, die Jahres-Performance ist in Gefahr!

derschweizer

[Neono]

Antwort auf Beitrag Nr.: 31.272.799 von derschweizer am 23.08.07 19:33:23

Wenn es unter 18 Dollar geht ist der langfristige Aufwärtstrend gebrochen und dann hat sich eine SKS ausgebildet. Wenn die Nackenlinie dann nachhaltig durchbrochen wird sehen wir 10 - 12 Dollar. Dann kauf ich ein paar

22,40 -12,16% 43k

Bei 22,75 liegen 15k im Ask

Und dann wären da noch ein paar Gaps zu schliessen

up Jun-29-2007 20.84 to 21.25
up Jun-28-2007 19.96 to 20.2
up Jun-18-2007 18.95 to 19.62
up Jun-14-2007 17.73 to 18
up May-31-2007 15.97 to 16.03

Neono

[derschweizer]

Antwort auf Beitrag Nr.: 31.273.010 von Neono am 23.08.07 19:48:41

Das ist eine ernsthafte Überlegung wert!

20 oder 30% Verlust war immer zwischendurch drin.

Ich würde gerne folgendes von ihm lesen: Der Kurs bricht weiter ein, welch Disaster!

...schon klar, er spielt weiter den

derschweizer

[DCShoes]

Neono, Schweizer
"Es gibt aber auch Gurus, die müssen auf jedes Einzelposting persönlich antworten. Und wenn mal keiner postet, dann werden eben Intradaykurse gepostet oder in anderen Foren rumgestänkert."

Das scheint nun eingetreten zu sein. Ist bei Cardero schon der Ofen aus, dass Du nun hier nun die Boardkultur mit Füßen treten mußt?

Neono,
ich bitte Dich nochmals, Dich hier nicht wie ein Kind zu verhalten. Deine Cardero-Jünger lachen ja schon über Dich, wenn ich einige Postings richtig interpretiere.

[macvin]

Antwort auf Beitrag Nr.: 31.273.010 von Neono am 23.08.07 19:48:41

Wenn du bei 10-12 Dollar kaufst, dann immer noch weit 300% über dem Kurs von 2003. Das kannst du bei CDU billiger haben: die liegen bisher nur 100% höher... Also hopp. Das sagt Dir der von Dir schon mal so titulierte "Reichsbedenkenträger"

#347

Keine Bange, mit Moto habe ich schon einen schönen Schnitt gemacht. Du solltest mal den Thread genau lesen, nicht nur gucken, wo ich zuletzt gepostet habe. Mit Aurora ging das nicht so: ich habe im Gegemsatz zu Dir kein Problem, auch mal einen Fehlgriff zu gestehen. (-20% von 3% des Portfolios) Was ist mit Palladon, Terra Nova Gold usw.? Soll ich Dein altes Musterportfolio rauszerren, das immer noch mächtig im Minus ist? Jeder macht halt Anfängerfehler, gell @neono

Also mal ganz sachte, mein Lieber. Sonst hol ich noch das Posting aus Deinem ersten CDU-Thread raus, wo du Reserven mit Ressourcen verwechselt hast.....

[derschweizer]

Antwort auf Beitrag Nr.: 31.273.203 von DCShoes am 23.08.07 20:01:50

oder in anderen Foren rumgestänkert."
Du verwechselt da etwas, wir reden hier rein über Fakten!
Der Kurs von Seabridge bricht nachweislich seit Tagen ein,
keiner behauptet Seabridge sei ein schlechtes Unternehmen!

dass Du nun hier nun die Boardkultur mit Füßen treten mußt
Warum fühlst Du dich in eurer Boardkultur verletzt?
Wurde jemand beleidigt, angepöbel oder gar die Unwahrheit geschrieben?
Meines Wissens wurden hier nur Fakten gepostet!

Deine Cardero-Jünger lachen ja schon über Dich, wenn ich einige Postings richtig interpretiere.
Interpretation scheint nicht deine starke Seite zu sein, über Neono lacht niemand im Thread, glaub mir!

derschweizer

[derschweizer]

Antwort auf Beitrag Nr.: 31.273.397 von macvin am 23.08.07 20:14:23

Du schreibst sehr Emotional und das noch mit einer gewissen Verachtung gewürzt macvin!

Achte drauf, Du befindest dich auf dem besten Weg, hier die Threadkultur zu vernichten!

derschweizer

[macvin]

Antwort auf Beitrag Nr.: 31.273.582 von derschweizer am 23.08.07 20:28:47

Du schreibst sehr Emotional und das noch mit einer gewissen Verachtung gewürzt macvin!

Richtig! Ich passe mich damit dem üblichen Ton in den @neono-threads an. Verachtung nein, Verwunderung ja, wie man so lange in Werten kleben kann, die nix auf die Reihe bringen.

Und Töne wie "Reichsbedenkenträger", "Pappnasen" oder "Tiernamenuser", wie in den einschlägigen Threads für kritische Stimmen üblich, habe ich imho nicht benutzt. Fasst Euch mal an die eigene Nase.

Sorry, weil schon mehrfach off topic. Ich werde mich zukünftig wieder raus halten....

[DCShoes]

Antwort auf Beitrag Nr.: 31.273.010 von Neono am 23.08.07 19:48:41

Seabridge ist ein Hebel auf Gold. Natürlich sinkt Sea, wenn der Goldpreis sinkt. Das ist kein Grund, Sea zu verteufeln, sondern ein Grund zu überlegen, ob man wirklich im Goldbereich anlegen möchte.
Wenn man sich wie ich dafür entscheidet, dann gilt es, die Möglichkeiten zu vergleichen. Gold direkt, als Optionsschein, oder Minenaktien.

Im Vergleich zum Goldpreis hat sich SEA sowohl auf 3-Monats, Monats- und Wochensicht optimal gehalten. Als Vergleich hier der Preis eines Gold Calls CK9875, um die Schwankungen des Goldpreises überhöht darzustellen. Sea in grauer Farbe, Gold in schwarz.
Cardero hingegen würde in allen genannten Zeitbereichen schlechter als der Goldcall abschneiden.

Für mich zeigt sich: der Kursrückgang hat nichts mit Sea zu tun, sondern mit dem allgemeinen Goldpreis. SEA hat sich sogar wesentlich besser gehalten.

Neono, es steht Dir frei, Gold zu verdammen oder die Underperformance von Cardero.

Seltsamerweise beschränkst Du Dich darauf, hier diejenige Aktie ungerechtfertigt zu beschimpfen, die auch in der Krise besser als alle bisherigen Vergleichswerte abgeschnitten hat und der darüberhinaus strukturelles und unabhängig vom Goldpreis ein gewisses zusätzliches Entwicklungspotential nachgesagt wird.

Stattdessen verrennst Du Dich in der Kaffeesatzleserei von Intraday-Kursen.

DC

[konradi]

.

MENSCH MACVIN - altes Haus !!!

Dich gibt´s auch noch ? - Ich hoffe, Deine Yencarrytrades haben Dich reich und glücklich gemacht? - Du "feierst" ja gerade Dein 7-Jähriges hier bei WO ! Ich wünsch´Dir viel Glück und Erfolg - wobei und wie auch immer !

Zu SEA fällt ersteinmal gar nix mehr ein. Einem "tenbagger"-Investor tut der selloff zugegeben schon ziemlich weh - und da sollte ich besser "ganz einfach mal die Klappe halten" ...

Aber wo ich die Nacht gerade frustriert vor dem Bildschirm verbringe will ich wenigstens noch einen Artikel verlinken, über den sich Peer Steinbrück kaum freuen dürfte:

http://www.diepresse.com/home/wirtschaft/economist/324472/in…

Gruß Konradi

.

[valueinvestor]

Cool, Neono will das siebeneinhalbfache dessen bezahlen, was ich hingelegt habe für sea.

[derschweizer]

Antwort auf Beitrag Nr.: 31.277.382 von valueinvestor am 24.08.07 09:32:42

Guten Morgen value
...na, schon wieder mit deiner Lieblingsbeschäftigung aktiv unterwegs?

[derivatus]

heute Kauf-Empfehlung im trend-trader.de

[konradi]

.

vielleicht hilft es ja...
August 28, 2007

Seabridge Confirms Three New Zones of Gold Mineralization at Noche Buena


Updated National Instrument 43-101 Resource Estimate in Progress
TORONTO, CANADA--(Marketwire - Aug. 27, 2007) - Seabridge Gold (TSX VENTURE:SEA)(AMEX:SA) announced today that assay results from the remaining 26 holes drilled in 2007 at its 100% owned Noche Buena project in Mexico have confirmed a previously unknown depth extension and new, mineralized structural offsets to the northeast and southwest of the deposit with grades and thicknesses similar to those of the existing resource. These discoveries are expected to add to the project's gold inventory.

In April, Seabridge commenced a reverse circulation drill program designed to expand the known gold resource at Noche Buena by testing new targets within and adjacent to the existing deposit (see news release dated April 16, 2007). The program consisted of 33 holes totalling approximately 8,000 meters. Results from the first seven holes of the 2007 program confirmed a southeast extension of the deposit (see news release dated July 24, 2007). Target and assay results for the remaining 26 holes are summarized in the attached table. All reported holes were generally drilled from northeast to southwest at an inclination of approximately minus 65 degrees. True thicknesses of the reported gold intercepts will not be known until geologic interpretations have been completed.

Seabridge President and CEO Rudi Fronk said the results of the 2007 program "demonstrate that our geological interpretation is correct and that the deposit is considerably larger than originally thought".

The Noche Buena project is located in northwestern Sonora State, about 55 km from the city of Caborca and within the geological terrain that is host to several large gold deposits, including the La Herradura and Mesquite Mines. Seabridge Gold purchased the property in April of 2006 and completed a NI 43-101 compliant technical report (news release dated April 28, 2006) that confirmed a resource (at a cutoff grade of 0.30 grams of gold per tonne) of 21.9 million tonnes of indicated resources grading 0.81 grams of gold per tonne (569,000 ounces) plus an additional 14.0 million tonnes in the inferred resource category grading 0.68 grams of gold per tonne (308,000 ounces).

Exploration activities at Noche Buena are being directed by William Threlkeld, P.Geol, an officer of the Company and a Qualified Person as defined by National Instrument 43-101. An aggressive QA/QC procedure has been implemented to insure this new drilling is comparable in quality to previous resource delineation drilling. Each drill hole sample is being assayed by ALS Chemex using fire assay atomic absorbion methods. Results from this program will be incorporated into a revised resource model of the Noche Buena property. An updated resource estimation for the deposit incorporating this new drilling is expected in the third quarter of 2007.

Seabridge management also advises that its cash resources are held in treasury bills and short term federal agency paper guaranteed by the Government of Canada. The Company has never purchased structured finance products or commercial paper and does not make deposits in money market funds.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Hog Ranch project and the Kerr and Sulphurets deposits, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Statements relating to the estimated or expected future production and operating results and costs and financial condition of Seabridge, planned work at the Company's projects and the expected results of such work are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2006 and in the Company's Form 20-F filed with the U.S. Securities and Exchange Commission (available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management or its independent professional consultants on the date the statements are made.

ON BEHALF OF THE BOARD

Rudi Fronk, President & C.E.O.

-----

Einzelergebnisse siehe:
http://biz.yahoo.com/iw/070828/0295735.html

-----


August 27, 2007


Fraser Mackenzie Commences Coverage of Seabridge Gold With


Buy Recommendation and C$40 Target


TORONTO, CANADA--(Marketwire - Aug. 27, 2007) - Seabridge Gold Inc. (TSX VENTURE:SEA)(AMEX:SA) -

For the full report dated August 13, 2007, please go to http://www.seabridgegold.net/FraserMackenzie-Aug13-07.pdf

[Schnueffelnase]

Antwort auf Beitrag Nr.: 31.323.729 von konradi am 28.08.07 23:54:40

Nein, kurzfristig hilft es nichts. Was soll's, mit Seabridge im Depot schlafe ich saugut.

[konradi]

.

Und nochmals aus gegebenem Anlass ...

Seabridge management also advises that its cash resources are held in treasury bills and short term federal agency paper guaranteed by the Government of Canada. The Company has never purchased structured finance products or commercial paper and does not make deposits in money market funds.


Übrigens - wenn die shorties mal wieder – wie ich glaube – ihrem Herdentrieb folgend schief liegen und das smart money fallende US Zinsen antizipiert (die Commercials beim S&P 500 sind long) - könnte es im Herbst sogar noch mal ein all-time-high geben, bevor es dann im nächsten Jahr so richtig kracht.

Okay, kann mich ja irren, but expect the unexpected …

.

[konradi]

.

September 4, 2007

Seabridge Gold's Mitchell Deposit Expands in Three Directions
TORONTO, CANADA--(Marketwire - Sept. 4, 2007) - Seabridge Gold Inc. (TSX VENTURE:SEA)(AMEX:SA) -

Assay results from the first eight holes drilled this summer at the Mitchell zone have confirmed northern, southern and depth extensions of the deposit. Mitchell is one of three gold-copper porphyry deposits located on Seabridge's 100% owned Kerr-Sulphurets project near Stewart, British Columbia, Canada.

In June, Seabridge commenced a 15,000 meter core program at Mitchell designed to upgrade the existing inferred resource and to test for extensions of the deposit (see news release dated June 27, 2007). To date, results have been received and analyzed for the first eight holes of the 2007 program with assays reported as follows:



---------------------------------------------------------------------------
Drill Depth From To Intercept Gold Copper
Hole Target (m) (m) (m) (m) (gpt) (%)
---------------------------------------------------------------------------
M-07-24 Depth 597.3 356.8 597.3 240.5 0.83 0.25
---------------------------------------------------------------------------
M-07-25 Depth and 478.6 9.0 478.6 469.6 0.83 0.26
Northern
---------------------------------------------------------------------------
M-07-26 Infill 472.7 0.0 472.7 472.7 0.79 0.19
---------------------------------------------------------------------------
M-07-27 Southern 356.0 180.4 223.0 42.6 0.73 0.18
---------------------------------------------------------------------------
M-07-28 Southern 398.4 5.2 398.4 393.2 0.59 0.14
incl. 5.2 213.1 207.9 0.86 0.18
---------------------------------------------------------------------------
M-07-29 Southern 336.5 6.7 336.5 329.8 0.75 0.19
---------------------------------------------------------------------------
M-07-30 Southern 194.5 Did not reach target
---------------------------------------------------------------------------
M-07-31 Southern 233.2 58.0 233.2 175.2 0.68 0.20
---------------------------------------------------------------------------


Drill hole M-07-24 was a deepening of 2006 drill hole M-06-24 which yielded continuous mineralization of 256.8 meters averaging 0.66 grams per tonne gold and 0.19% copper commencing at 100.0 meters to the bottom of the hole which terminated at 356.8 meters. Results from M-07-24 confirm the potential for at least a 200 meter depth extension of the Mitchell deposit with the hole still ending in typical Mitchell grades. The hole was terminated in mineralization as the drill's maximum capacity had been reached.

Holes M-07-25 and M-07-26 demonstrate the remarkable consistency of mineralization and continuity of grades in the down-dip direction to the north. Both holes terminated in mineralization.

Drill holes M-07-27 and M-07-31 were collared above the Mitchell thrust fault. The Mitchell zone was intercepted immediately below the thrust fault at 180.4 meters and 58.0 meters respectively.

Drill hole M-07-30 was also collared above the Mitchell thrust fault but was abandoned in rocks above the thrust fault prior to reaching its target due to hole conditions. Note that the entire 194.5 meters drilled above the target zone were hydrothermally altered and averaged 0.31 grams of gold per tonne and 0.08% copper, demonstrating that rocks above the fault are still contained within the mineralizing system.

Drill hole M-07-27 is believed to be approaching the southeastern limit of the Mitchell zone as mineralization is thinning in this direction.

Based on drilling conducted by Seabridge in 2006, a National Instrument 43-101 compliant resource estimate for Mitchell yielded an initial inferred resource of 564 million tonnes grading 0.72 grams per tonne gold (13.1 million ounces) and 0.18% copper (2.23 billion pounds) at an equivalent gold cut-off grade of 0.50 grams per tonne gold (see news release dated February 20, 2007). Equivalent grades were determined using a gold price of US$475 per ounce and a copper price of US$1.50 per pound. The 2006 drill program did not find the limits of the deposit which remained open to the north, to the south (toward the Sulphurets deposit a distance of two kilometers), to the west and at depth.

All of the reported holes contained herein were drilled from north to south at an incline of approximately minus 60 degrees. The true thickness of the Mitchell zone, based on initial drill results from the current program, is estimated to be 500 to 600 meters but could be more as the deepest hole drilled to date (M-07-24) ended in material that was consistent with the grades of the overall hole.

Seabridge President and CEO Rudi Fronk noted that "the 24 holes drilled at Mitchell during 2006 confirmed a continuously mineralized gold-copper deposit measuring 1,600 meters long, 800 meters wide and at least 300 to 400 meters thick. The new drilling to date suggests that we may have added at least 200 meters of thickness and 400 meters of width due to extensions to the south and north. We anticipate further extensions from this year's program, particularly to the south."

Exploration activities at Kerr-Sulphurets are being conducted by Seabridge personnel under the supervision of William E. Threlkeld, Senior Vice President of Seabridge and a Qualified Person as defined by National Instrument 43-101. An ongoing and rigorous quality control/quality assurance protocol is being employed during the 2007 program including blank and reference standards in every batch of assays. Cross-check analyses are being conducted at a second laboratory on 10% of the samples. Samples are being assayed at Eco Tech Laboratory Ltd., Kamloops, B.C., using fire assay atomic adsorption methods for gold and total digestion ICP methods for other elements.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Hog Ranch project and the Kerr and Sulphurets deposits, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Statements relating to the estimated or expected future production and operating results and costs and financial condition of Seabridge, planned work at the Company's projects and the expected results of such work are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2006 and in the Company's Form 20-F filed with the U.S. Securities and Exchange Commission (available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management or its independent professional consultants on the date the statements are made.

ON BEHALF OF THE BOARD
Rudi Fronk, President & C.E.O.

www.seabridgegold.net

.

[ralf-norbert]

04.09.2007 15:37
Dutton Associates Announces Investment Opinion: Seabridge Gold Increased Price Target And Buy Rating Maintained By Dutton Associates

Dutton Associates updates its coverage of Seabridge Gold (Nachrichten) (AMEX:SA) (TSXV:SEA) with a Buy rating and increasing its target price to US$46.00. The 13-page report by Dutton senior analyst Mike Niehuser is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.

We had the opportunity to visit Seabridge Gold's Kerr-Sulphurets-Mitchell (KSM) project in northern British Columbia in August 2007. Drill results for 2006 at Mitchell led to establishing in February 2007 an NI 43-101-compliant Inferred resource of 564 million tonnes grading 0.72 g/t gold (13 million ounces) and 0.18% copper (2.2 billion pounds). This was in addition to the already sizeable noncompliant historic resources at Kerr and Sulphurets, and increased the Company's resources to over 32 million ounces of gold and 4.9 billion pounds of copper. Having visited KSM we are compelled to reexamine our valuation of Seabridge considering the strong likelihood of increasing and upgrading the deposit at Mitchell. The scale of the project is so large it must be seen to be believed. KSM consists of 26 contiguous mineral claims and covers an area of 6,626 hectares. It is located in northwest British Columbia, approximately 65 kilometers north-northwest of port at Stewart, and 21 kilometers south-southeast of Barrick Gold Corporation Inc.'s Eskay Creek Mine. KSM is now rapidly becoming recognized as a world-class gold/copper deposit. The primary objective of Seabridge's development program at KSM is to upgrade the Mitchell resource to Indicated from Inferred. While discovering Mitchell has led to an increase in the Company's stock price the concentration of additional resources at a single deposit increases the appeal of Seabridge as a takeover target by a major gold producer.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $35,000 prepaid before commencement of our research activities, consisting of 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $58,000 from the Company for 6 Research Reports with coverage commencing on 6/04/2004. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.

Alles was man für Geld kaufen kann, ist billig!

Ralf-Norbert

[valueinvestor]

Meine Einschätzung zu den Zahlen: Die Erweiterung in die Tiefe ist phänomenal. Nach meinen überschlägigen Kalkulationen könnte damit allein in der Tiefe 5,4 Millionen Unzen Gold und die entsprechende Menge Kupfer dazu kommen.
Das wichtigste Loch ist aber M 07-30 Didn´t reach target, denn in der Kappe, zumindest zwischen Mitchell und Sulphurets thrust faults ist mit 0,3 gr Gold und 0,08% Kupfer ist genügend Metall (zu Marktpreisen ca. 11$) um die Aufarbeitungskosten wieder rein zu holen. Damit kann das unter der Kappe gefundene und noch zu findende Material wirtschaftlich rausgeholt werden, denn das Abtragen der Kappe finanziert sich selbst. Ich kenne Unternehmen, die bei solchen Zahlen nicht schreiben "didn´t reach target" sondern ein wenig basteln und mit tollen Äquivalentberechnungen laut herumposaunen. Das heißt, Bedingung 1 für das zusammenhängende Monsterdeposit Mitchell-Sulphurets nimmt schon mal Gestalt an.

Mit der Norderweiterung und der leider etwas uneinheitlichen Erweiterung nach Süden dürfte Mitchell Minimum 21 Mio Unzen und Seabridge jetzt bei 1 Unze Gold je Aktie angekommen sein. Unter dem Gletscher im Norden könnte auch noch einiges liegen.

[valueinvestor]

per nostri amici italiani:

http://www.marketmasters.org/modules/AMS/article.php?storyid…

Mentre la scorsa settimana abbiamo analizzato alcune motivazioni alla base del buon andamento delle quotazioni dell'ORO (vedi articolo Ritorno all'età dell'ORO), oggi parleremo del "best performer" di tale settore nell' ultimo anno, Seabridge Gold Inc (SA).

La "mission" dichiarata di questa Azienda e' quella di fornire eccezionali ritorni agli azionisti in un mercato dell' ORO in forte crescita. Tali obiettivi possono essere raggiunti attraverso alcune linee guida:
1) rimanere interamente esposti al prezzo del' ORO (minimizzare la Cassa);
2) massimizzare la proprieta' di ORO per singola Azione (minimizzare la diluizione usando partners);
3) non gestire direttamente Miniere (l' extra rendimento non giustifica i rischi ed i costi);
4) operare solo nel Nord America (rischi minori e piu' facilmente misurabili).

Dal 1999 al 2002, con prezzi dell' oro piu' bassi rispetto a quelli attuali, Seabridge ha acquistato ben otto progetti in Nord America; tali progetti sono stati selezionati con cura in modo che la diluizione necessaria per approvigionarsi dei mezzi finanziari fosse piu' che compensata dalle risorse di ORO supplementari. Grazie a questa strategia le quotazioni di Seabridge hanno overperformato il Toronto Stock Exchange Gold Index di circa il 1800% in 5 anni.

Questi sono alcuni motivi che rendono Seabridge un investimento interessante:
Proprieta' al 100% del progetto Courageous Lake (ORO),
Proprieta' al 100% del progetto Kerr-Sulphurets (ORO e Rame)
- entrambi con enormi potenzialità -
Numero di progetti di esplorazione nel Nevada piu' elevato rispetto a qualunque altra società junior;
Quantita' di oro divisa per numero di azioni piu' elevata rispetto a qualunque altra societa' pubblica.

Dei 37M di azioni in circolazione, il 10% e' in mano agli insiders e ben il 40% e' in mano ad investitori istituzionali. Ricordiamo l'assenza di debiti e circa 30M di $ in cassa.

Il grafico degli ultimi 5 anni non ha bisogno di alcun commento.




aber mannmannmann war die Korrektur brutal, auch wenn manche Kursziele nicht erreicht wurden.
So in den nächsten 14 Tagen kommen dann wieder ein paar Löcher von Mitchell rein.

[konradi]

.
Hi value, ich nixe verstehen von Deine amici italiani, aber chartgrafica è molto bene !!!
.

[valueinvestor]

Antwort auf Beitrag Nr.: 31.686.120 von konradi am 21.09.07 12:37:46

stehte auch drübe: grafico brauche nix comentare

[valueinvestor]

und es steht in den Sternen, wann die nächste news kommt?

http://www.thestreet.com/s/astrology-fund-sees-another-sello…

alexco (im Artikel erwähnt) hat sehr gute Grade gebohrt, aber die Wirtschaftlichkeit von dem Adernkrempel kann man immer so schlecht abschätzen.
Außerdem gibt es da eine First Nation Truppe.

[derivatus]

erneute Empfehlung im trend-trader.de, aber ohne neue Infos.

[konradi]

.

- uns "Langfristinvestoren" alles bekannt, aber es gibt ja hoffentlich auch neue Interessenten an dieser Aktie


Why Seabridge Gold is Our Top Gold Pick


July was an exciting month for gold investors, as the HUI shot from 320 to 370, breaking resistance and appearing set for some serious upside action. But the strength of the 370-ceiling once again turned away gold’s advance, and sent the HUI to 340, where is paused before declining all the way to key support at 300.

Goldbugs were devastated and many pundits, as they always do whenever gold breaks down, began talking about the end of the gold bull. But the 300-floor proved to be even stronger than the 370-ceiling and the HUI promptly bounced back to 330 in just a few weeks time. On Thursday, the HUI advanced back towards 360, and could be set for another attempt at taking out 370.





Gold futures pierced through the $700 mark on Thursday, hitting a four-month high at $705! Several reasons have been cited including strengthening demand, fund buying, higher oil prices, and forecasts of an interest-rate cut pushing the dollar lower. Another factor pushing up the price of gold and oil were reports of Israel dropping bombs within Syria. Syria accused Israel of bombing its territory on Thursday, and said it could respond to the Jewish state’s “aggression and treachery.” Increasing tension in the Middle East increases interest in gold as a safe-have investment, and could have bene a key factor in Thursday’s surge. However, it appears that a number of fundamental factors are aligning, and providing significant strength in the gold market that could push the metal above its recent high at $720, and towards a new all-time high above $850.

Despite the recent advance, many gold stocks are still on sale, and are significantly lower than their recent highs. At the top of our list is Seabridge Gold (SA) and we have been buying with both hands.

We were admittedly late in discovering and falling in love with Seabridge Gold. The stock was at $3 this time two years ago, and recently hit $30! Not a bad return. Even if you would have got in as late as June of this year, you could have doubled your investment, as the stock climbed from $15 to $30 between June and August of 2007.

We picked up Seabridge on the recent dip to $23, and have enjoyed a 20% gain in under a week. We are adding to our positions at this level, as we believe Seabridge will make new highs above $33 in the coming weeks and continue to outperform other gold miners.





Seabridge has 100% interests in Courageous Lake project in Northwest Territories, which is believed to be Canada’s largest undeveloped gold project with outstanding exploration potential. It also owns the Kerr-Sulphurets project, and the Red Mountain project in British Columbia, the Grassy Mountain project and the Quartz Mountain project in Oregon, the Hog Ranch project, and the Castle/Black Rock property in Nevada, and the Noche Buena property located in Mexico. In total, it has 10.2 million M&I ounces and another 22 million inferred ounces. It remains fully exposed to the gold price with no hedging, no debt and $30 million cash on hand.

Seabridge has four guiding principles including maximizing gold ownership per common share (minimize dilution by using partners), not operating mines (the extra returns do not justify the extra costs and risks), and only investing in North America (the risks are lower and more measurable).

It also has the following 3-step strategy:

• To acquire non-producing uneconomic gold resources.

• To upgrade gold resources towards economic status and acquire exploration assets.

• To realize gold flows from projects by attracting producers as partners and continuing to upgrade projects and explore.


Their strategy appears to be working and their ability to develop and expand their resources has been impressive. A flurry of press releases over the past year have highlighted their drilling activity and resource expansion. Some might say that the money has already been made, but we think the fun has just begun for Seabridge. The following excerpt is taken from Steve Sjuggerud of Daily Wealth:

The Seabridge story is simple…

At the bottom of the gold market, Seabridge went around buying up properties with known gold reserves that the major gold companies wanted to get rid of.

Seabridge ended up buying over 14 million ounces of gold in the ground, for less than a dollar per ounce of gold acquired. The mining giants Seabridge had bought from had spent a combined $300+ million dollars in studying these properties. But at the bottom of the gold market, these properties seemed worthless. So, the major mining companies dumped the projects for next to nothing.

Now the guys at Seabridge look brilliant…

Seabridge bought nine gold deposits back then. Let’s take a quick look at one now… called Courageous Lake. Seabridge bought it from Newmont (NEM) at the bottom of the market for less than a dollar per ounce of gold in the ground.

Seabridge has tested it further, and now has 9 million resource ounces of gold in the ground there, which are worth close to $6 billion dollars. Yet, the market value of Seabridge is only about $300 million.

An outside consulting firm estimates the cash cost of production to be around $279 per ounce at Courageous Lake. So as long as gold stays up above $600, this project is a no-brainer.

Smartly, Seabridge doesn’t plant to develop the mine itself. It plans to partner with a major mining firm, who will take the financial risk. Seabridge couldn’t identify who that partner is, but it said it has confidentiality agreements with four majors for this project (if I heard them right).

The major mining firms wouldn’t be interested unless this is potentially a major gold mine. And it is… it’s one of the ten largest undeveloped gold deposits in the world. And nicely, it’s in Canada, not some Banana Republic.


By Jason Hamlin / www.seekingalpha.com/

(The author owns shares of Seabridge Gold, and plans to purchase more. The author was not compensated in any way for publishing this article)

[valueinvestor]

but it said it has confidentiality agreements with four majors for this project (if I heard them right).


so richtig ausgesprochen hatte das aber bisher noch keiner!

Wir alle wissen, das aus 100 Projekten höchstens 1 eine Mine wird - so die Einschätzung anerkannter Fachleute. Ich würde da mal sagen: Pech für 99 andere. Und wenn ich auf KSM schaue, dürfte das für noch 99 andere das aus bedeuten.

[derivatus]

Paul van Eeden hat in einem Interview letztes Jahr davon gesprochen,dass das Verhaeltnis Mine - Projekt 1 : 1.000 sei.

[valueinvestor]

Tante Bollinger bereitet was vor.

[konradi]

naja, ob man Tante Bollingers Normalverteilung auf einen Explorer anwenden kann, wage ich zu bezweifeln. Zudem deutet der schmäler werdende Kanal zwar auf einen Trendbruch hin, aber nach der Theorie ist ja die Richtung nicht vorgegeben. Tasse/Henkel passt übrigens auch nicht, da Zeitspanne weniger als 3 Monate. Ich lass mich lieber von neuen Bohrergebnissen überraschen.

[valueinvestor]

Antwort auf Beitrag Nr.: 31.930.820 von konradi am 10.10.07 20:18:00

Wenn die Bollis so eng laufen (für Seaverhältnisse) ists schön, wenn der Kurs an die Oberkante ranläuft.

Wenn er drüber raus läuft (wohl mit den Bohrergebnissen) kann man dann den Bollinger öffnen - diesmal flüssig.

[valueinvestor]

Ich glaube schon, dass uns Frau Bollinger was sagen will...

[valueinvestor]

das riecht nach all time high!


in einem anderen Thread schrieb letztens ein User: Sea sei sauteuer.

[derivatus]

Tradingmeldung aus dem Aktien Premium Trader Paket von GodmodeTrader.de

SEABRIDGE GOLD INC. REGISTERED SHARES – WKN: 541875: ISIN: CA8119161054; Kürzel: SA

Börsenplätze: Amex, Xetra, Frankfurt, Berlin
Sektor: Gold

Kursstand aktuell: 31,10 $

Buy-Trigger: Einstieg zur Eröffnung
Gewichtung: 10.000 $
Stopp: 27,95 $

Seabridge Gold gehört zum stärksten, was der Goldsektor zu bieten hat. Dafür läuft die Aktie aber nicht immer marktkonform. Der Kursverlauf ist aktuell unterhalb des Allzeithoch eingeklemmt zwischen 28,33 $ und 31,84 $. Daraus sollte die Aktie trendbestätigend nach oben ausbrechen. Ist das der Fall dann eröffnet sich hier sofort umfassendes Kurspotenzial bis in den Bereich 39,57 $ sowie später bis 46,52 $. Wir kaufen uns in die Aktie direkt zur Eröffnung ein da ein Ausbruch nach oben jetzt sehr wahrscheinlich ist. Der Stopp-Loss kann bei 27,95 $ noch relativ eng gesetzt werden.

Es erfolgt jetzt der Einstieg in die Aktie auf mittelfristige Sicht. Der Stopp-Loss wird bei 27,965 $ platziert. Handelbar ist die Aktie auch über die deutschen Börsen.

Risiko bis zum Stopp-Loss: - 10,13 %
Möglicher Gewinn bis 39,57 $: (+27,23%)
Möglicher Gewinn bis 46,52 $: (+49,55%)

[valueinvestor]

Newmont Grabs Miramar - Who Is Next Gold Takeover Target?
By goldguru
With the gold price breaking records and the dollar sinking into the abyss, the major gold miners are planning for the future and shoring up their resources through acquisitions. The latest of which is Newmont’s announcement that it would acquire 100% of Miramar in a $1.5 billion all-cash transaction. Miramar’s shareholders were promptly rewarded with a 23% single-day gain. Some analysts are anticipating rival bids, which could push up the value of Miramar to levels even higher than their $6.31 close on October 10th. If you have followed Miramar over the years, you are well aware of Hope Bay, which is considered one of the largest undeveloped gold projects in North America.
So, who is next on the gold miner acquisition list? With takeover plays enjoying 20-40% gains in the days following an announcement, this is information every investor would like to know. While nobody can say for sure, we can run our list of miners through a filtering system and output the ones we believe have the characteristics making them prime for acquisition by a resource-hungry major. Amongst other factors, we have considered market cap , resource estimates, production potential, politically stability, access to infrastructure and management/business model. Keep in mind that many of the same qualities that make these companies prime takeover targets, make them sound long-term investments, takeover or not. So it should come as no surprise that these companies are also listed in our “Top 8 Gold Stocks” article. Without further adieu, here is what we think majors’ shopping list might look like…
(...)
und als zweite Erwähnung
Seabridge Gold (SA)
Seabridge has 100% interests in Courageous Lake project in Northwest Territories, believed to be Canada’s largest undeveloped gold project with outstanding exploration potential. They also own the Kerr-Sulphurets project and Red Mountain project in British Columbia, Grassy Mountain project and Quartz Mountain project in Oregon, Hog Ranch project and Castle/Black Rock property in Nevada, and Noche Buena property located in Mexico. In total, they have 10.2 million M&I ounces and another 22 million inferred ounces. Seabridge has been expanding their resource estimates at a blistering rate. They remain fully exposed to the gold price with no hedging, no debt and $30 million cash on hand. While they may have a strategy of “attracting producers as partners,” we think some of those producers will be going for more than a mere partnership.

Die anderen beiden sind Golden Star und Newcrest. Schon Wahnsinn, vor 3 Jahren völlig unbekannt und heute mit Newcrest auf einer Ebene...
http://www.goldstockbull.com/newmont-grabs-miramar-who-is-ne…

[valueinvestor]

siehe # 379

[valueinvestor]

Antwort auf Beitrag Nr.: 31.273.010 von Neono am 23.08.07 19:48:41

Respekt: 56% Plus seit dem Posting. Dein Kursziel ist um 190% verfehlt.

@ eidgenosse

Ich würde gerne folgendes von ihm lesen: Der Kurs bricht weiter ein, welch Disaster!

[valueinvestor]

schöne Diskussion bei yahoo:

casualempiricist

Monsieur Culibaly, you seem to have a good command of the geology of SA's projects, I've been studying the CL and KSM land packages and wondered what your opinion is.

I'd personally like to see SA wait a while and crank up 4 core rigs at CL to continue to do some infilling to move the FAT zone inferred into measured and indicated. Plus, reading from old press releases, the Olsen and Walsh lake targets at CL yielded interesting >2.0 g/t gold samples. One figures that with a 53 kilometer greenstone belt, SA should ramp up some other target rich areas to delineate additional zones.

With regard to KSM, do you think that the Main Copper Zone will be linked up with Mitchell and Sulphurets? I am also curious as to why the upgraded resources estimates for the Kerr and Sulphurets zones haven't been disseminated yet. Do you think the Iron Cap zone holds much promise at all as well? Seems like there were decent preliminary drill results by Falconbridge that suggests the need for further exploration.

I suppose a lot of the answers to these questions will be answered by the new drill results. Call me impatient, but I'd rather have the drill numbers that deal with a possible link between Mitchell and Sulphurets as opposed to continued infill holes at Mitchell....


culibaly (das bin ich)
CL:

I asked Mr Fronk earlier this year, whether it wasn´t a good idea to upgrade the resources at CL this year. He answered something like this:
We are not planning any additional drilling at Courageous Lake this year. Instead, we will be updating the Preliminary Assessment study we completed in 2005. We expect to be able to show a significant improvement in the economics of the deposit as a result of being able to expand the mine life beyond 8.5 years.

In February, Sea published the following:
"Seabridge notes that the 2005 Preliminary Assessment incorporates Inferred Mineral Resources that are considered geologically too speculative to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves and advises therefore that there can therefore be no certainty that the estimates contained in the 2005 Preliminary Assessment will be realized.
"too speculative" sounded not so good for me. Still I am not convinced whether it is possible to upgrade resources in a short term. When CL was seas only major asset, the stockprice didn´t reflect the value of the property at all. So how shall we interpret it: Does it mean, CL is a challenging property with lots of faults and modelling is difficult and needs a lot of more drilling? (see presentation page 9 and 13) or does it simply mean, sea did a Preliminary Assessment without further necessary drilling just as a strategic second step first to get more attention?
So regarding CL there are some open questions - as always in this business.
With the next news on CL, we should not only get the new economics but also an outlook for future work there.
I would like sea to finish the fat deposit first and maybe partner it (2009?). With the decission to mine the fat deposit, any future work on CL would stand in the context of existing mining infrastructure and would be appreciated much more. You may get a good impression by reading the 2003/2004 news, just before sea decided to concentrate on the fat deposit.

KSM

Main Copper Zone: From what is known so far, it is not a target on its own, but it may pay off the costs of removing the cap and form a huge open pit - that is if mitchell and sulphurets are linked. The grafics from sea suggest, that there are two faults below the Main Copper Zone, so it should be different (as the grades suggest). Next week we will know better.

Iron Cap: it is 500 m by 1500 m wide and is tested with 5 drill holes grading 0,2% Copper and 0,5 gr Gold. That looks too low but keep in mind, that falconbridge missed Mitchell literally by inches. So of course, sea should look closer. If you read about the exploration history, it gets quite clear, that falconbridge was looking for copper and not for gold. There could be an huge advantage for seabridge to look at the properties with the focus on gold and copper as by-product. (about icefield:"Below this depth, there is a sharp change in mineral tenor with copper values falling and gold grades increasing. Similar zones were encountered in Hold IF-05-02, however, Falconbridge terminated the hole as copper values receded.")

Of more interest to me is the icefield zone. Though it is very small up to now (covered with ice, so chip sampling is difficult) "Falconbridge refers to this area as "Icefield", and believes that the zone may extend under remaining thin ice cover for several hundred meters to the north and east." The grades are very good.

As we will know next week about mitchell and sulphurets being connected or not, this area (several 100 meters!!) should be tested intensively! So we will possibly still be looking for the limits of the deposit next year.

[derschweizer]

!

Dieser Beitrag wurde moderiert. Grund: Provokation

[valueinvestor]

interessant auch die Feststellung von casualempiricist zu Mike Sewell.
Dieser Mensch leitete für Noranda die Exploration im Kerr Sulphurets. Er wollte von Noranda unbedingt die Erlaubnis, die Mitchell Zone bohren zu dürfen. Stattdessen aber entschied man sich, das Gebiet fallen zu lassen. Was hat nun Mike Sewell dazu bewogen, seinen sicheren Job bei einem Mayor an den Nagel zu hängen und bei dem ehemaligen Branchenparia Seabridge anzuheuern? Er mußte sich seiner Sache sehr sicher sein, Seabridge schenkte ihm Gehör und "the rest is history".
Solche Personalien können durchaus auch mal wichtig sein

[derschweizer]

Antwort auf Beitrag Nr.: 31.992.375 von valueinvestor am 15.10.07 08:24:01

Morgen value
...na, sprichste mal wieder mit dir selbst!
Wohl langes Wochenende ohne richtige Ansprache hinter dir?
Deine Jünger sind noch nicht wach, schlafen die Jungs!

derschweizer

[DCShoes]

Nun hol mal kurz Luft, schweizer. Kein Grund zur Aufregung oder zum Herzkasperli. Mit Sea schlafe ich tatsächlich beruhigt.

[derschweizer]

Antwort auf Beitrag Nr.: 31.993.963 von DCShoes am 15.10.07 10:06:27

...das glaube ich dir, Seabridge ist

derschweizer

[valueinvestor]

Antwort auf Beitrag Nr.: 31.994.142 von derschweizer am 15.10.07 10:17:00

Haste denn welche?

[derschweizer]

Antwort auf Beitrag Nr.: 31.997.362 von valueinvestor am 15.10.07 13:14:14

Muss ich?

[valueinvestor]

Musst du entscheiden.
Heute Start mit + 1,20 Dollar.
non olet, helvetice! (nimmt man da den Vokativ?)

[valueinvestor]

Antwort auf Beitrag Nr.: 32.000.308 von valueinvestor am 15.10.07 15:40:37

Heute steigt sea sogar mehr als andere Aktien kosten!

[derschweizer]

Antwort auf Beitrag Nr.: 32.000.445 von valueinvestor am 15.10.07 15:45:39

Denk an das Gorilla Männchen value

[DCShoes]

Antwort auf Beitrag Nr.: 32.000.308 von valueinvestor am 15.10.07 15:40:37

Vokativ, ja. Könnte "ole" heißen.

Non ole, inanilogista helveticae.

[DCShoes]

Antwort auf Beitrag Nr.: 32.004.831 von DCShoes am 15.10.07 18:29:06

nee, jetzt habe ich das mit dem Imperativ verwechselt. Sollte der nicht auch verwendet werden? Ich muß mal meine Schwester fragen, die unterrichtet das am FG.

[valueinvestor]

Antwort auf Beitrag Nr.: 31.992.845 von derschweizer am 15.10.07 09:01:09

Morgen value
...na, sprichste mal wieder mit dir selbst!
Ich habe auch bei Getaz Romang Selbstgespräche geführt - von 173 Franken bis 1100...

Was für ein phänomenaler Endspurt: 10% Plus heute. Was für eine Wahnsinnsaktie!

[valueinvestor]

Sie sind da!


October 16, 2007
Seabridge Gold Confirms Depth Extension and Grade Improvement at Mitchell
Drill Hole M-07-35 Intersects 676 Meters of Continuous Gold and Copper Mineralization
Toronto (Canada) — Assay results from drill hole M-07-35 have confirmed a depth extension of at least 300 meters at the Mitchell deposit with the hole terminating in the highest grade gold and copper mineralization encountered to date. The 682 meter hole encountered continuous mineralization from the surface to the bottom of the hole averaging 0.92 grams per tonne (“gpt”) gold and 0.24% copper with the last 100 meters of the hole averaging 1.20 gpt gold and 0.35% copper. The hole was terminated due to depth limitations of the drill rig with the last assay reported at 1.58 gpt gold and 0.77% copper.

Seabridge President and CEO Rudi Fronk noted that this year’s 15,000 meter core drill program has confirmed extensions of the Mitchell deposit to the north and south “but the most important development has been the higher gold and copper grades associated with the depth extension. The first two drill holes (M-07-24 and M-07-35) designed to test for depth extensions will not only significantly increase the tonnage of the Mitchell deposit but should also improve the overall grade (see attached cross sections). We also think that the extensions we have discovered to the north and south should allow an open-pit to reach these greater depths within a reasonable waste-to-ore strip ratio.”

Mr. Fronk noted that a series of deeper holes will be drilled this month to further quantify the depth extension and grade improvement. These are infill holes which are also designed to upgrade inferred resources at Mitchell to the measured and indicated categories.

Mitchell is one of three gold-copper porphyry deposits located on Seabridge’s 100% owned Kerr-Sulphurets project near Stewart, British Columbia, Canada. To date, 29 holes have been completed totaling approximately 12,000 meters. Results from the first eight holes were previously announced (see news release dated September 4, 2007). Results for the next nine holes of the 2007 program are reported as follows:

http://www.seabridgegold.net/NOct16_07.htm

M-07-32: A south step-out on section line 800, collared above the Mitchell Thrust Fault. Above the thrust fault (234.7 m) the drill hole intersected interbedded contact altered volcanic rock. Below the thrust fault weakly altered Mitchell style volcanic rocks were encountered, indicating that the limits of the Mitchell deposit have been defined to the south in this part of the system. The upper plate rocks contain gold and copper concentrations that may give the previously assumed waste stripping an economic value.

M-07-33: A deep exploration hole between Mitchell and Sulphurets, and 800 meter step-out to the south, and may have stopped short of crossing the Mitchell Thrust Fault. Most of the hole was drilled in hornfelsic and altered sedimentary rocks (typical of the upper plate of the Mitchell Thrust Fault system). This hole confirmed the presence of gold and copper in the assumed waste rock and an extensive hydrothermal system between the Mitchell and Sulphurets deposits. Additional drilling around this hole will be required to fully understand the relationships between Mitchell and Sulphurets and their possible continuity.

M-07-34: A southern extension on section 600. The hole collared in Mitchell style alteration and continued in these rocks to the end of the hole. Mineralized rock was encountered in the entire drill hole, the upper 150 meters represent the up-dip expression of the typical grade material in the heart of the Mitchell deposit.

M-07-35: A deep hole on section line 200 (about 400 meters west of M-07-24), intersected a significant length of Mitchell style alteration with stockwork quartz veining and sulfide minerals increasing down hole. The drill hole was terminated at 682 meters, in the mineralized zone, as drilling conditions deteriorated. This hole confirms: (1) the true thickness of the Mitchell Zone is at least 600 meters; and (2) gold and copper grades are increasing at depth.

M-07-36: This drill hole was abandoned at 77 meters due to concerns of slope stability at the site. Drill holes M-07-39 and M-07-41 were drilled to obtain the information intended from this drill hole.

M-07-37: An infill hole on the eastern margin of the resource area. Intense and continuous Mitchell style alteration and grade distribution were returned from this hole. Results were as anticipated, providing confidence in the search dimensions indicated in the preliminary resource estimate.

M-07-38: A southwestern step-out vertical drill hole. Results from this hole indicate the intensity of the Mitchell gold copper system is decreasing to the south in this area.

M-07-39: A southern step-out, vertical drill hole. Grades remain in this hole but continuity of alteration is beginning to break up, suggesting the hole may be approaching the margin of the system. Although alteration suggests the Mitchell gold copper system is waning, the deposit remains open in the south central area.

M-07-40: The southwestern most step-out drilled at minus 50 degrees from the same site as M-07-38, this hole reaches out from M-07-38 and confirms that the Mitchell gold copper system is declining in intensity to the southwest. Results also indicate that (as in most porphyry systems) the limits of the mineable deposit will be dictated by cut-off grade in that direction.

Based on drilling conducted by Seabridge in 2006, a National Instrument 43-101 compliant resource estimate for Mitchell yielded an initial inferred resource of 564 million tonnes grading 0.72 grams per tonne gold (13.1 million ounces) and 0.18% copper (2.23 billion pounds) at an equivalent gold cut-off grade of 0.50 grams per tonne gold (see news release dated February 20, 2007). Equivalent grades were determined using a gold price of US$475 per ounce and a copper price of US$1.50 per pound. The 2006 drill program did not find the limits of the deposit which remained open to the north, to the south (toward the Sulphurets deposit a distance of two kilometers), to the west and at depth.

Unless reported separately, all of the reported holes contained herein were drilled from north to south at an inclination of approximately minus 60 degrees. The true thickness of the Mitchell zone, based on drill results from the current program, is now estimated to exceed 600 meters but could be more as the deepest hole drilled to date (M-07-35) ended in material that have the best grades encountered to date.

[SimplyRed]

Antwort auf Beitrag Nr.: 32.017.730 von valueinvestor am 16.10.07 09:09:40

Wenn ich dies lese, werde ich ganz nervös. Wie ist Deine erste Einschätzung ?

"The first two drill holes (M-07-24 and M-07-35) designed to test for depth extensions will not only significantly increase the tonnage of the Mitchell deposit but should also improve the overall grade (see attached cross sections)"

[valueinvestor]

Antwort auf Beitrag Nr.: 32.020.456 von SimplyRed am 16.10.07 11:08:16

2 wichtige Punkte:

1. Sulphurets und Mitchell hängen wohl nicht so zusammen, dass man sie wirtschaftlich abbauen könnte. Daher Absage des morgen anzutretenden Ruhestandes.

2. Die Grade in der Tiefe sind phantastisch.
Ich habe jetzt 87 Quadrate a 100 * 100 ausgezählt und komme - wenn alle die Tiefe von 680 Meter haben auf 32,8 mio Unzen Gold sowie 5.5 mia Pfund Kupfer. Marktwert 45 Milliarden Dollar

3. die letzten Proben vom tiefsten Loch mit
1.58 gpt gold and 0.77% copper
haben einen Marktwert von 100$ die Tonne - da beginnt underground mining interessant zu werden.

4. Jedes veröffentlichte Loch der diesjährigen Bohrsaison hat in etwa einen Gegenwert von 1 mio Unzen Gold. Kein schlechter Return On Investment.

5. Wie ein pitdesign aussehen könnte, vermag ich schlecht abzuschätzen.

Ich bin auf die Kursreaktion gespannt. Immerhin war der gestrige Anstieg allein durch den Goldpreisanstieg gedeckt, historisch steigt sea 18 Cent, wenn Gold 1$ steigt - nichts ungewöhnliches also. Andererseits gibt es dieses buy the rumor sell the fact Spiel und die allerkühnsten Träume sind nicht in Erfüllung gegangen.

Jede Seabridge Aktie dürfte mittlerweile mit 1,23 Unzen Gold hinterlegt sein - und 200 Pfund Kupfer.
Marktwert 1650 $/Aktie, der Aktienpreis liegt bei 2,27% davon. Es soll schon Firmen gegeben haben, die für 5% ausgekauft wurden.

[valueinvestor]

Antwort auf Beitrag Nr.: 32.021.438 von valueinvestor am 16.10.07 11:53:05

sind sogar ein paar mehr Punkte geworden...

[valueinvestor]

Antwort auf Beitrag Nr.: 32.021.453 von valueinvestor am 16.10.07 11:53:57

Kanada weit vor Börsenöffnung bid 36.78 ask 37.99

[konradi]

.

man, man, man ... da ist man 3 Tage nicht online und SEA geht durch die Decke! Ein wenig "kontraproduktiv" würde ich sagen: das wird mir langssm unheimlich ... Also Value Du hattest absolut recht mit Deiner Prognose und ich ziehe die Aussage meines letzten postings ohne jegliches Bedauern zurück !

.

[valueinvestor]

Kanada vorbörslich 2 Cent im Plus.

[valueinvestor]

Ich hätte nach dem run eigentlich eine Konsolidierung erwartet, die das Papier Richtung 35 trägt und dabei auch ein paar Fenster im Chart zumacht. Sa hält sich jetzt aber schön über 37 und gestern wurde after hours ordentlich gehandelt mit Kursen bis 39,17 - Richtung all time high.
http://quotes.nasdaq.com/aspxcontent/ExtendedTradingTrades.a…

Ich habe letztens mal meine Unterlagen durchgesehen und festgestellt, dass mein 2. Kauf von Seabridge noch günstiger war als der erste. Bezahlt habe ich 1,69$ oder 1,458 Euro. Diese Schätzchen sind also in Euro 18-bagger und in Dollar 22-bagger.

[ralf-norbert]

Antwort auf Beitrag Nr.: 32.079.109 von valueinvestor am 19.10.07 09:25:20

... berichte mal fleißig weiter - habe letzte Woche meine Verkaufsorder bei 37 USD gestrichen und freue mich nun jeden Tag über die Kursentwicklung.

[valueinvestor]

Präsentation mit Rudi Fronk

http://slbcast.mediasite.com/slbcast/Viewer/Viewers/Viewer24…

Highlights:
Kerr Sulphurets gekauft 2000 für 500.000 Aktien a 37 Cent, Goldpreis damals 250$ Kupfer 0,6$.
Kauf aller Properties: 14,6 mio Unzen für 15 Mio Dollar, Explorationsaufwand der Vorbesitzer 325 Mio $. Das macht klar, warum Sea den Vogel abschiesst - sie haben sich antizyklisch zum Tiefstpreis in heute herausragende Properties eingekauft, so was kommt heute gar nicht mehr auf den Markt, egal wie gut das Management verdrahtet ist.
KSM hat wesentlich geringere logistische Anforderungen als Galore Creek, von Barricks Eskay Mine sind es nur 15 Meilen, die erschlossen werden müssen. Nebensatz Rudi Fronk: Eskay macht bald dicht. Und tatsächlich:

Eskay Creek
The Eskay Creek mine is located in northwestern British Columbia, approximately 80 kilometers by air north of Stewart. Access is by 60 kilometers of privately-owned single-lane gravel road. The mine is located at an elevation of 800 meters.
In 2006, Eskay Creek produced 113,000 ounces of gold at total cash costs of negative $106 per ounce of gold, net of silver by-product credits. As the mine approaches the end of its reserve life in 2008, lower availability of high-grade direct-to-smelter ore is resulting in the mining of more lower-grade ore tons, leading to lower gold production in 2007.

Könnte man den Krempel ja 15 Meilen weiter wieder aufbauen... lol, geht aber wohl eher nicht, Eskay ist eine kleine unterirdische high grade Mine (0,7 Unzen die Tonne)

Fronk sagte, er erwartet eine Unzenzahl für Mitchell von über 20 Millionen Unzen Ende des Jahres mit 13 Millionen indicated;
insgesamt sollen es etwa 20 mio indicated und 20 mio inferred sein. --> mehr als eine Unze Gold pro Aktie#Auch sollen die historischen Angaben zu Kerr und Sulphurets wieder auf einen 43/101 konformen Stand gebracht werden.

Zu Courageous Lake:
Neue pre feasability study bis Ende des Jahres. Wegen höherer Stahl und Ölpreise (Versorgung aus der Luft) mit höheren Cash- und Capital Costs (bisher 423$) dafür mit einem Basisszenario auf Gold 600 (bisher 450) und einer Minernlebensdauer von 12,5 bis 13 Jahren.
Das ist wichtigst; die letzten Bohrungen 2006 ergaben "nur" einen Anstieg der Resourcen von 8,9 auf 10,2 mio Unzen - dies reichte aber, wie von mir vermutet aus, um das Design der Grube so zu verändern , dass deutlich mehr Gold gefördert werden kann. Der Sprung von 8 auf 12 Jahre soll der Hatch-Studie zu Folge einen zusätzlichen Wert von 500 Mio Dollar bringen (bei 450) Bei einem Goldpreis von 550 sollen es 150 Millionen sein für jedes zusätzliche Jahr.
Ich vermute nicht, dass der Markt das bereits eingepreist hat, weil die Reaktion auf die damaligen Bohrergebnisse eher verschnupft war. Glücklicherweise ist dann Herr Mitchell eingesprungen.

[konradi]

Liste mit Diskussionsgruppen zu SEA :
http://www.boardcentral.com/cgi-bin/aios.cgi?s=SA

[darcon]

70% of Seabridge Gold's Resources 'Inferred' - I'm Not H…

Emre Cakiroglu
October 26, 2007

[urlwww.seekingalpha.com]http://seekingalpha.com[/url]

Seabridge Gold (SA) is a Canadian gold exploration company engaged in the business of acquiring non-producing uneconomic gold resources. They acquire these resources from the likes of Newmont and Placer Dome as the majors found these properties to be economically unfeasible for future business (most are located at fly-in locations where the cost of extraction is too high). The firm has no proven reserves and no intention of starting a gold mine, because the management does not believe in operating mines since they think the extra returns do not justify the extra costs and risks. The firm's basic guiding principles, per the company's website, are remaining fully exposed to the gold price and maximizing gold ownership per common share and its ultimate objective is effectively turning cash into gold, contrary to the gold industry's current practice of converting gold into cash flow.

Seabridge's stock is up over 100% in less than six months, boasting a market cap of ~1.4bln USD. However, despite the recent rise in gold prices, there doesn't seem to be an asset or a story or any other good reason to justify this move. The firm's basic value proposition is a high leverage perpetual option on gold prices, which is most likely to expire soon. The company is simply engaged in the business of producing press releases - continuously declaring more and more "inferred resources" at their properties ...read on

darcon

[konradi]

Hi darcon, einen interessanten Fund hast Du da gemacht.

Die Seeking Alpha Kritik hat drüben ja eine Menge Unruhe ausgelöst. Ob das Auswirkung auf den stagnierenden Kurs hat(te), glaube ich aber dennoch nicht. Zumindest kennt sich der offenbat recht unbekannte Autor recht gut aus in der Szene. Doch man muß man wohl auch fragen: "Wem nützt so eine negative Kritik ?"

Dazu zwei Überlegungen in einem post von "motherlodenski" im Yahoo Board:

5. Given that there are only a handful (an oligopoly) of senior producers able to buy a company like Seabridge with its hefty billion dollar plus market cap, don't you think it might make sense for them to get together (secretly) and agree that they will not make any TO bid, but rather wait for Seabridge to bleed to death, when its share price would be only a fraction of the current bubble valuation?

6. Of the three or four producers that might have the ability to bid for Seabridge, why would they rush to do so when they know that by simply sitting on their hands, then Seabridge is bound to bleed to death since it does not engage in any form of revenue producing activity, does not dilute its stock to raise monies for feasibility studies (because, again, it has no intention of mining its RESOURCES), and has stated it never plans any corporate strategy toward producing revenue, rather its entire mission is devoted to releasing cheery RESOURCE announcements and awaiting a TO bid for the company

Verschwörungsblödsinn ? Vielleicht! - Aber bei einer Marktkapitalisierung von 1 Milliarde Euro für ein immer noch in die Rubrik" Explorer einzusortierendes Unternehmen kann man ja schon mal auf schräge Gedanken kommen... Ein paar tausend Dollar Honorar für eine "insider" - Anylyse werden da wohl auch noch übrig sein ...

[Schnueffelnase]

Antwort auf Beitrag Nr.: 32.211.860 von konradi am 31.10.07 00:08:14

Mal abgesehen davon, dass Seabridge jederzeit seine Strategie ändern und mit einem Partner die Produktion aufnehmen kann...

[konradi]

Antwort auf Beitrag Nr.: 32.214.447 von Schnueffelnase am 31.10.07 10:24:28

das stimmt natürlich, und das Management wird sich dazu ja auch Gedanken machen. Im Übrigen sollte man nicht vergessen, das jederzeit genügend Geld vorhanden ist, um den Kurs notfalls über Aktienrückkäufe zu stabilisieren, und zumindest die großen Investoren sollten das auch wissen. Also don´t panic ...

[valueinvestor]

Antwort auf Beitrag Nr.: 32.195.813 von darcon am 29.10.07 21:13:20

Der Autor:

Emre Cakiroglu hat als Analyst erst mit diesem Artikel das Licht der Welt im Internet erblickt. Mit dem Suchbegriff „Emre Cakiroglu“ gold kommen nur Treffer, die auf den Seabridge Artikel hinweisen.

„as the majors found these properties to be economically unfeasible for future business“

Dies geschah beim Kauf der Kerr Sulphurets bei einem Goldpreis von 250$, Courageous Lake wurde bei inem Goldpreis von 290$ erworben.

„most are located at fly-in locations where the cost of extraction is too high“
und
„The bottom line is that Seabridge's two biggest projects at such remote locations, Courageous Lake and Mitchell Creek, are nowhere near the economic feasibility required to justify the company's current market cap of $1.4 billion.“

Falsch: Kerr Sulphurets ist 15 Meilen von der Eskay Creek Mine entfernt, die mit einer Barrick gehörenden Strasse erschlossen ist. Der Erschliessungsaufwand von Novagolds Galore Creek ist beispielsweise deutlich höher mit langen Tunnels etc.
Sollen 15 Meilen Strasse für ein 20 bis 30 mio Unzen Depot schon zum Status „remote location“ führen? Wo liegt dann Galore Creek mit seinem 4,3 km Tunnel und seiner 125,5 km langen Strasse? Sollte er nicht lieber Nova Gold und deren Partner Teck shorten?

http://www.novagold.com/upload/technical_reports/GaloreCreek…
Punkt 20.3.2.2 Seite 208

„One of Seabridge's most valuable properties in terms of speculated Inferred resources, the Courageous Lake property, was assessed under the direction of T.J. Smolik of TJS Mining-Met Services Inc. back in 2005. He's considered a Qualified Person and independent of Seabridge per the company's updated preliminary assessment report. However, T.J. Smolik serves on the board of directors of another Canadian company, Arizona Star Resource Corp. (ticker: AZS). It turns out that Arizona Star Resource Corporation's chairman is James Anthony, the same chairman of Seabridge. Coincidence? Another board member and director of Arizona Star is Rudy Fronk, the President / CEO of Seabridge. Coincidence? Not to mention the fact that both Seabridge's and Arizona Star Resource Corp.'s top holder is Pan Atlantic Bank and Trust Ltd.
If investors are going to rely upon preliminary assessments when valuing a gold company, that is a risk they may choose if they find "inferred" statistics valid (against the SEC's recommendation). However, do you want these studies to be completed by a friend and fellow board director to the Chairman, President and CEO? In the United States, this would not fly.“

Smolik war senior vize president bei Placer Dome und hat damals das Cerro Casale Project betreut. Es scheint daher logisch, dass Arizona Star sich diesen mit dem Projekt betrauten Fachmann geholt hat.
Arizona Star heuerte Smolik im November 2005 an. Zu Arizona später mehr.
„Toronto, Ontario, November 10, 2005 –
The Company announced today that Mr. T. James Smolik has been appointed to the
Board of Directors.“
Zu dem Zeitpunkt als Smolik für Seabridge arbeitete, war er also kein Board Mitglied bei Arizona. Durch seine frühere Arbeit an Cerro Casale läßt sich ausschliessen, der Board Posten sei eine Belohnung für ein Gefälligkeitsgutachten. Übrigens hat an den CL Studien auch Hatch mitgearbeitet, die für Novagold die feasability study zu Galore Creek gemacht haben.

„Without a substantial portion of the Inferred Resources used in the preliminary assessment of the Courageous Lake project, the total cost of production per recoverable ounce is going to go up and will most likely put the feasibility of this project into question even at current gold prices.“

Da hat er recht. Das Vorgehen, die Wirtschaftlichkeit vor dem Hochstufen der inferred ressources kann man jedoch taktisch erklären – mögen muss man es nicht. Die letzte Bohrrunde 2006 vergrößerte das mögliche Pitdesign, dieses Jahr kommt eine neue Studie raus.
2008 jedoch müssen sich die Bohrer drehen um die inferred ressources in den Status der indicated zu bekommen. Mit der Investition könnte man die Bohrkosten zehnfach wieder reinholen, denn der Markt würde CL mit einem höheren Faktor je Unze bewerten.

„On a side note, there's no recent preliminary assessment done on company's other big project, the Mitchell Creek deposit. The last preliminary economic evaluation was done by Placer Dome back in 1996 and is considered out-of-date.
Placer Dome's study at the time reveals around 2.1MM ounces of gold and 1300 million pounds of copper in the Indicated category. Similarly, Dutton Associate's May 2006 report states that Falconbridge's view was that the Mitchell target has 2MM ounces of gold resources, which is a much smaller number than Seabridge's Inferred Resource estimate of $13MM ounces. Well, the much lower estimates made by two other big mining companies that looked at the same property before makes you think whether Seabridge's management has been continually inflating its resources under the highly speculative Inferred Resources category.“

Diese Falschinformation ist grauenhaft und hart an einer bösartigen Lüge. Zum Mitchell Creek deposit gibt es kein preliminary assessment – von niemandem. Die Mitchell Zone ist eine Neuentdeckung der Bohrsaison 2006. Folglich hat Seabridge auch nicht in einem Jahr die 2 Millionen Unzen auf 13 Millionen aufgeblasen. Die 2 Millionen liegen in dem Kerr und dem Sulphurets Deposit (zusammen mit 1,4 Millionen Unzen Gold und ein bissel Kupfer, die Herr Cakiroglu aber nicht mitzählt, weil sie ja wertlos, da inferred sind). Es wird wohl des Autoren ewiges Geheimnis bleiben, wie Seabridge innerhalb eines Jahr das Deposit entdecken soll, die Resourcen auf indicated hochstufen und auch gleich ein preliminary assessment abliefern soll.
Placer Dome konnte übrigens die Mitchell Zone gar nicht entdecken, weil zu diesem Zeitpunkt das Gebiet noch von einem Gletscher bedeckt war, dessen Zurückweichen hat das Gebiet erst freigelegt. Noranda Falconbridge Xstrata haben sich wohl mehr um Synergien ihrer verschiedenen Fusionen gekümmert als um Exploration. Der Explorationsleiter von Noranda hat wohl auf Knien darum gebettelt, Mitchell bohren zu dürfen, ist aber abgeblitzt. Als Noranda die Kerr-Sulphurets schliesslich fallen lies, hat der Explorationsleiter sofort gekündigt und hat bei Seabridge angeklopft – die haben ihn mit Kusshand genommen und Mitchell gebohrt.
Siehe auch Karten auf Seite 17 der Präsentation
http://www.seabridgegold.net/corp_pres_Oct16-2007.pdf

„There's also no full feasibility study in sight for either of Seabridge's two biggest projects and no announcement of a big mining partner who is or might be interested in either of these projects.“

Siehe oben. Mitchell wurde 2006 entdeckt. Warum soll man eine full feasibility study machen, wenn man noch nicht einmal die Grenzen des Deposits kennt? Für CL sollte nächstes Jahr ein Upgrade in Angriff genommen werden. Klar, die großen Minengesellschaften überlegen immer laut, wen sie als nächstes übernehmen könnten. Wenn man auf die Übernahme warten wollte, ist der Käse aber leider nicht nur schon gegessen sondern auch verdaut.

„The big mining companies have already looked at these projects as recently as 2002 and 2006 and decided to sell their interests at a fraction of Seabridge's current market-cap.“

Ja. Noranda hat die Mitchell Zone haarscharf verpasst. Sind die 20 – 30 mio Unzen deswegen nicht da? Placer wußte nicht, was unter dem Eis liegt. Von 2002 bis heute haben sich außerdem die Metallpreise ein wenig gewandelt, oder?

„The previous owners of Seabridge's properties spent $300+ MM and decided not to proceed with these projects.“
Das ist die hohe Schule des antizyklischen Einstiegs. Diese 300+ mio sind die Basis für Seabridges heutigen Aktienpreis, nur so konnte das Management über eine Unze Gold je Aktie erwerben. Heute ist das nicht mehr möglich, diese Deals konnte man nur in der Phase niedriger Preise abschliessen.

„How busy are Seabridge's handful of full-time employees with Seabridge business?
Chairman of the Board, James S. Anthony is the corporate strategist at Seabridge and also happens to be the Chairman at Arizona Star Resource Corp. currently. He's also the President of Suma Investments since 1986.
CEO, Rudi Fronk, who's supposed to spend 100% of his time on Seabridge affairs is also listed as one of the directors of Arizona Star Resource Corp.“

Dies scheint mir in der Branche eher die Regel als die Ausnahme zu sein. Im Gegenteil, Seabridges Management scheint mir sich auf sehr wenige Posten zu konzentrieren.
Schon wenige Tage nach Erscheinen des Artikels wurde das „Problem“ mit Arizona schon gelöst, Arizona wurde von Barrick übernommen. Dort scheint die Arbeit der beiden nicht nachteilig gewesen zu sein, die Firma wurde mit einem 27% Premium zum Kurs übernommen.

Abschließend noch zu den bezahlten Studien: Es steht drin, das Sea dafür bezahlt. Wo ist der Betrug?
Sea wird von den Investmenthäusern aus zwei Gründen links liegen gelassen. Zum einen gilt das Management mit Fronk und Anthony als Parias der Branche, weil sie ein Unternehmen (Greenstone Resources) in der Phase der niedrigen Metallpreise von 1994 bis 1999 in die Pleite geführt haben.
Das hat Cakiroglu sicher nicht gewusst, sonst hätte er es genüßlich ausgewalzt.
Zum anderen können die Investmenthäuser kein Geld mit Sea verdienen, die vielen vor allem für die Häuser lukrativen Placements von Aktien hat sea nicht nötig. Sie rufen bei den größten shareholdern an und ziehen die Platzierungen zügig und privat durch. Also keine finder fees für die Häuser, die sich dann mit „unabhängigen“ Studien zu dem Wert bedanken.

Noch ein Wort an dich, Darcon. Ich kenne dich nur aus dem Cardero Thread und wenn du diesen Artikel hier einstellst, dann sicher weil es dich freut, wenn jemand meinem Paradepferd ans Bein pinkelt. Wenn du den Artikel aber aufmerksam gelesen hast, dann wird dir auffallen, dass viele Argumente nicht nur 1:1 sondern sogar doppelt auf Cardero übertragen werden könnten. Anglo hat die Baja verlassen, folglich ist sie nichts wert, oder? Rio Tinto hat 2002 Pampa de Pongo abgegeben. Nix wert? Oder die Sache mit den viel beschäftigten Managern: Wie viele Board Member von Cardero haben noch andere Positionen inne? Die Werthaltigkeit von inferred resources dagegen dürfte dir unwichtiger sein, schlieslich findest du es doch gut, wenn sogar ohne jegliche inferred resources pilot plant tests auf dem Eisensand durchgeführt werden – als „critical component of ongoing feasibility studies“. Nur mal so zum Nachdenken.

[konradi]

Antwort auf Beitrag Nr.: 32.274.326 von valueinvestor am 04.11.07 13:43:11

.

"Gute Arbeit, value, das hätte ich von Dir gar nicht erwartet." (insiderjoke!)


... ich habe gerade Deine Postings im Yahoo-Board überflogen und denke es ist an der Zeit Dir auch hier mal ein ganz großes Kompliment zu machen. Was Du da zu "Dear Mr Cakiroglu" zusammengetragen hast, ist mit einem Wort beschrieben: exzellent ! Okay, dieser Thread ist nicht der Ort für soft skills und Bauchpinseleien, aber da Du bei WO schon verschiedentlich auf das Heftigste angegriffen wurdest - viel Feind – viel Ehr - wollte ich das dann doch mal loswerden.

Zum weiterlesen:

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks…

(Hinweis: "culibaly" ist valuinvestor´s Alter Ego)

.

[konradi]

und für Dr. Doom sollte man sich auch immer Zeit nehmen:
http://ringier02.simplex.tv/content/53/55/307/index.html

[valueinvestor]

Antwort auf Beitrag Nr.: 32.299.777 von konradi am 05.11.07 21:31:16

Danke für das Kompliment.

[valueinvestor]

Drill Program Completed at Seabridge Gold's Mitchell Deposit
New 43-101 Resource Report Commissioned for Completion in Early 2008

SA announced today that it has completed its 2007 core drill program at its Mitchell deposit consisting of 37 holes totaling 15,294 meters. Resource Modeling Inc. ("RMI") has been commissioned by Seabridge to update the existing resource estimate for Mitchell following receipt of all assay results. Mitchell is one of three gold-copper porphyry deposits located on Seabridge's 100% owned Kerr-Sulphurets project near Stewart, British Columbia, Canada.
The 2007 drill program was designed to upgrade much of the existing 13.1 million ounce inferred gold resource (564 million tonnes grading 0.72 grams per tonne gold and 0.18% copper) to the measured and indicated categories and to pursue extensions of the deposit to the south, north and at depth.
Of the 37 holes drilled in 2007: (i) 14 holes (totaling 6,607 meters) were drilled as in-fill holes within the limits of the known deposit; (ii) 16 holes (totaling 5,135 meters) were drilled to test for extensions to the south; and (iii) six holes (totaling 3,196 meters) were drilled to test for extensions to the north. In addition, all six of the holes drilled to test the northern extension and all 14 of the infill holes were extended beneath the limits of the previous resource estimate to test for depth extensions of the deposit. Finally, one hole was drilled to test for a southwest offset of the deposit.
Results from the first 17 holes drilled in 2007 were previously announced (see news releases dated September 4, 2007 and October 16, 2007). Seabridge expects to announce results from the remaining 20 holes in two batches: one in late November and the final results in early 2008. The updated resource estimate is expected to be released in February, 2008.
Seabridge President and CEO Rudi Fronk said "the results to date give us confidence that our objectives in terms of upgrading and expanding the Mitchell resource can be attained."
RMI completed the first 43-101 compliant resource estimate for Mitchell following the 2006 drill program (see news release dated February 20, 2007). Seabridge has commissioned RMI to re-estimate mineral resources for the Mitchell deposit incorporating the 2007 drill data. RMI, located in Tucson, AZ, was formed in 2001 by Michael Lechner whose 30 year career includes nine years of exploring for base and precious metals, 11 years working at gold mines located in California and Nevada and ten years working as a consultant specializing in resource estimation. During the past six years, RMI has worked for a number of precious and base metal companies including Barrick Gold, NovaGold, Meridian Gold, Phelps Dodge, Pan American Silver, Alamos Gold, and a number of junior Canadian mining companies. Mr. Lechner is a Certified Professional Geologist with the AIPG, a Registered Professional Geologist in the state of Arizona, and has obtained special Registered Member status with the SME. RMI has no interest in the securities of Seabridge Gold and performs its work strictly as an independent consultant.
Based on drilling conducted by Seabridge in 2006, a National Instrument 43-101 compliant resource estimate for Mitchell, prepared by RMI, yielded an initial inferred resource of 564 million tonnes grading 0.72 grams per tonne gold (13.1 million ounces) and 0.18% copper (2.23 billion pounds) at an equivalent gold cut-off grade of 0.50 grams per tonne gold (see news release dated February 20, 2007). Equivalent grades were determined using a gold price of US$475 per ounce and a copper price of US$1.50 per pound. The 2006 drill program did not find the limits of the deposit which remained open to the north, to the south (toward the Sulphurets deposit a distance of two kilometers), to the west and at depth.

[valueinvestor]

Antwort auf Beitrag Nr.: 32.331.515 von valueinvestor am 07.11.07 20:29:46

Ich habe ein bissel rumgerechnet und die Ergebnisse im yahoo board eingestellt. Hier also meine resourcenschätzung für Mitchell:

25 mio Unzen Gold und 4,5 Billionen Pfund Kupfer

"I did some math and tried to calculate the new resource of the mitchell zone.
Therefore I looked at the two cross sections in the latest presentation on seas homepage page 22 and 23

First the 600 E cross section:
I added a rectangle at the left end of 350 to 200 meters, with grades of hole 07/34
then a rightangled triangle with the sides a and b 300 and 200 meters, grades from hole 07/31
then a nearly rightangled triangle at th e bottom with a and b 600 and 300 meters, grades from the lower section of 06/24 extension to depth.

Second, cross section 200 E:
I added one rightangled triangle at the left side (250*350 meters/2) grades still pending (07/46) I used the grades of 07/34 instead. Anyone doubting mineralization there may withdraw 1.3 million ounces for that.
Then a nearly rightangled triangle at the bottom with (400*300/2), using the grades of 07/35 lower section (1 gr Au/0,28%Cu), without the extreme high grade zone in the last 100 meters.
I compared these added surfaces with the surface of the blockmodell and adjusted them for different grades. Then I added another 5% for the north extension found this year.
Assuming these two cross section are representative mitchell may host
25.06 million ounces of Gold (up 90%)
4,48 billion lbs Copper (up 104%)

That represents 90% of the in ground value of arizona stars Cerro Casale, which was mentioned in a swiss newspaper (finanz und wirtschaft) as one of the largest copper gold deposits in the world."

[Dantyren]

http://broadband.bnn.ca/bnn/?sid=205&vid=21991

JETZT!! INTERVIEW MIT DEM CEO!

[Dantyren]

Seabridge Gold Files Third Quarter Financial Statements and MD&A

TORONTO, CANADA, Nov 09, 2007 (MARKET WIRE via COMTEX News Network) --
Seabridge Gold Inc. (TSX VENTURE: SEA)(AMEX: SA) announced today that it has filed its Third Quarter Financial Statements, and Management's Discussion and Analysis for the period ended September 30, 2007 on SEDAR. To review these documents, please see http://www.seabridgegold.net/2007-Q3.pdf." target="_blank" rel="nofollow ugc noopener">http://www.seabridgegold.net/2007-Q3.pdf.

3rd Quarter Highlights

- 15,000 meter core drill program completed at Kerr-Sulphurets to upgrade and expand the Mitchell deposit

- Results of the first 17 Mitchell holes confirm north, south and depth extensions

- New 43-101 resource estimate for Noche Buena project underway

- Updated Preliminary Assessment for Courageous Lake project nearing completion

Financial Results

During the three month period ended September 30, 2007, Seabridge posted a net loss of $1,473,000 ($0.04 per share) compared to a loss of $1,878,000 ($0.06 per share) for the same period last year. At September 30, 2007, net working capital was $27,557,000 compared to $6,420,000 at December 31, 2006.

Seabridge has acquired a 100% interest in nine North American gold resource projects. For a breakdown of the Company's mineral resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/Resource.htm." target="_blank" rel="nofollow ugc noopener">http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of the historic estimates for the Hog Ranch project and the Kerr and Sulphurets deposits, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Statements relating to the estimated or expected future production and operating results and costs and financial condition of Seabridge, planned work at the Company's projects and the expected results of such work are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2006 and in the Company's 20-F filed with the U.S. Securities and Exchange Commission (available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management or its independent professional consultants on the date the statements are made.

ON BEHALF OF THE BOARD

Rudi Fronk, President & C.E.O.

The TSX-V Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Seabridge Gold Inc. Rudi P. Fronk President and C.E.O. [phone] [phone] (FAX) Email: [e-mail] Website: www.seabridgegold.net

SOURCE: Seabridge Gold Inc.

mailto:[e-mail] http://www.seabridgegold.net

Copyright 2007 Market Wire, All rights reserved.

[valueinvestor]

Die Vola ist immer brutal und sie funktioniert in beide Richtungen:


Ich glaube, gestern haben zu Beginn einige Bestens ins Bid geschmissen.

[konradi]

ja und was mich am meisten dabei erstaunt ist, das es sich um eine 1 Milliarde Euro Company handelt (bzw. - jetzt - gehandelt hat - also von der market cap schon Dreiviertel so groß wie z.B. Nova Gold Resources (dessen 2 Milliarden Dollar Projekt Galore Creek (50/50 JV mit Teck Cominco) soll schon im Jahr 2012 produzieren) Manchmal glaube ich, diese chartvernarrten Fondsmanager wissen überhaupt nicht, womit sie eigentlich handeln ...

[DaenischeSuedsee]

Barrick Says Gold Supply to Fall Faster Than Expected (Update1)

By Brett Foley

Nov. 15 (Bloomberg) -- Barrick Gold Corp., the world's largest gold producer, said supply will fall faster than expected as it gets harder to extract the precious metal from deeper and older mines.

``Global mine supply is going to fall at a much faster rate than people generally believe,'' Chief Executive Officer Greg Wilkins said today at a conference in London organized by RBC Capital Markets. ``Many of the mines that people are anticipating bringing into production will either not come into production or will be on a much longer timeframe.''

Gold mining companies are trying to boost output after bullion climbed to within 0.5 percent of a record last week. Strikes, stoppages and the difficulties of mining farther underground are hampering operations in South Africa, the world's largest producer. Demand is rising as consumption increases in China, India and the Middle East, RBC Capital Markets said yesterday.


. . .
http://www.bloomberg.com/apps/news?pid=20601082&sid=aqIKpfUI…" target="_blank" rel="nofollow ugc noopener">
http://www.bloomberg.com/apps/news?pid=20601082&sid=aqIKpfUI…

[DaenischeSuedsee]

RBCCM predicts bullish gold price upswing to last remainder of decade – but….

The Royal Bank of Canada’s investment banking arm is looking to $900 gold in 1Q 2008 and a continuation of the bullish gold price trend for the remainder of the decade, but feels there could be a very sharp correction first.
Author: Lawrence Williams
Posted: Thursday , 15 Nov 2007

LONDON -

RBC Capital Markets, which today is hosting an invitation only major gold seminar in London, has this week released a research report which predicts that the bullish upswing in the gold price will likely last until the end of the decade. Investors would continue to use gold as a safe haven and with the current perceptions of economic uncertainty and global geopolitical risk.

The London seminar has an impressive array of speakers including the CEOs of Barrick, Newmont, Polyus Gold, Goldcorp, Gold Fields, Harmony and Kinross among others.

The investment banking arm of the Royal Bank of Canada also says that the "continued weakening of the US dollar, potentially leading to the unwinding of Bretton Woods II, is another factor increasing the metal's credibility."

. . .

http://www.mineweb.net/mineweb/view/mineweb/en/page33?oid=39…

[valueinvestor]

Andi Hoose

Steigt Gold auf 13.000 Dollar?
Leser des Artikels: 2222

Inflation ist kein Problem mehr. Zumindest, wenn man den Politikern glaubt, dann ist das Gespenst früherer Jahrzehnte längst besiegt, die Preise stabil. Seltsam ist dabei nur eines: Wo man sich auch umhört, nahezu jeder, der einigermaßen bei Verstand ist, bestätigt, dass man für viele Dinge des täglichen Bedarfs heute in Euro gerechnet genauso viel bezahlt, wie zu Zeiten der D-Mark. Ein populäres Beispiel: Der Liter Sprit kostet heute eben nicht mehr 1,45 D-Mark, sondern 1,45 Euro. Vielleicht haben wir alle da irgendetwas falsch verstanden.

Wussten Sie übrigens, dass es in Zeiten anziehender Inflationsraten an den Börsen typischerweise zu stark schwankenden Kursen kommt, zermürbenden Seitwärtsbewegungen, die jeden Langfrist-Anleger den letzten Nerv kosten?

Die letzte Phase dieser Art gab es in den 1970er Jahren. Wie sich der Dow Jones seinerzeit entwickelte, das sehen Sie hier:


weiterlesen
http://www.wallstreet-online.de/nachrichten/nachricht/219052…

[konradi]

im manager-magazin schreibt Kai Lange was Erhellendes zum Thema Timing. Am DAX kann er belegen, das Trader bei weitem nicht so genial sind, wie sie gern behaupten. Nun kann man natürlich fragen was das mit der Vola von Seabridge zu tun hat. Naja direkt nichts, aber nachdenklich machen die Aussagen schon:

http://www.manager-magazin.de/geld/geldanlage/0,2828,453330,…

.

[Maiki01]

Antwort auf Beitrag Nr.: 32.468.271 von konradi am 18.11.07 02:45:33

Nachdem seabridge in den letzten beiden Jahren expl. gelaufen ist
seht ihr auf dem akt. Level einen Einstiegszeitpunkt.

Ich bin verunsichert bzgl. des Goldpreises ob der nicht nocheinmal in Richtung 730 abbtaucht und Seab. mitnimmt.

Grüße

[konradi]

.

der Grund für - 12 % heute war Stress beim Nachbar:
siehe: http://biz.yahoo.com/ap/071126/novagold_and_teck_cominco_met… Da haben ein paar Leute Schiss bekommen, das gleiche Schicksal könnte am Ende auch SA ereilen. Ein bischen einsam ist es da oben ja schon ...





aber das der Straßenbau ein paar Dollar kosten wird war ja von Anfang an klar. Trotz möglicher (!!!!!)Probleme ist der Kursrutsch wegen so einer Lappalie mal wieder atemberaubend ...

[konradi]

siehe zum Vergleich auch: http://www.rohstoff-welt.de/news/artikel.php?sid=3084
Was könnte so eine 40 km Straße incl. Tunnel bis zum Highway 37 kosten, value?

[konradi]

..

Selloff beim Nachbar

[DaenischeSuedsee]

Antwort auf Beitrag Nr.: 32.577.184 von konradi am 27.11.07 01:07:53

Hi konradi,

vielleicht kann man sich der Sache mal so nähern

Ein Autobahnkilometer kostet in Deutschland rund 26,8 Millionen Euro. Davon entfallen
9,4 Millionen Euro (35 %) auf den Planungsprozess

http://de.wikipedia.org/wiki/Autobahn#Kosten_pro_Kilometer

als nächstes würd' ich mal in scoping studie von Nova schauen, ob da irgend welche
Angaben gemacht wurden

[konradi]

.

Hallo Ostseeanrainer

... die schreiben aber was von 5 Billionen (vermutlich kanadische) Dollar:

"By mid-October 2007, AMEC’s preliminary work indicated it expected capital costs would be significantly higher than originally estimated. As a result, NovaGold and Teck Cominco commenced a project strategy review, involving seven engineering teams, to assess the AMEC work. Estimated costs have continued to increase during this review, and NovaGold and Teck Cominco now have sufficient information to indicate that the capital cost of the project could approach as much as $5 billion"

Da rechnen wir doch mal:

1 CAD = 0.68408 Euro
(1 amerikanische "billion" = 1 europäische Milliarde)
also 5 billion = 3, 42 Milliarden Euro

3 Milliarden Euro ???????

In Deutschland kostet der Bau von 100 km Autobahn etwa 1 Milliarde Euro. Ich denke mal selbst unter schwierigsten Bedingungen kann eine 100 km ausgebaute Schotterstrecke in British Columbia nicht so viel kosten wie 100 km deutsche Autobahn. Also irgendwas kann da einfach nicht stimmen, auch wenn ich jetzt nur den Straßenbau berücksichtigt habe. Schaut Euch mal die Bilder vom derzeitigen Stand der Baumaßnahmen an:

http://www.novagold.com/section.asp?pageid=3358

die sind die doch schon ganz schön weit vorangekommen, oder sehe ich das falsch ? Und noch am 15. Oktober, also vor gerade mal einem Monat hieß es in den Geschäftsberichten

- Die Konstruktionsarbeiten auf Galore Creek machen gute Fortschritte.

- Über 107 km Straßen wurden gebaut und für 61 km wurde der Weg gebahnt

- 8 permanente und 17 temporäre Brücken wurden errichtet

- Ein 53 m langer Tunnelabschnitt wurde fertiggestellt und ein Lawinenschutz installiert

Da frage ich mich als unbedarfter Anleger, worauf man sich bei diesen Geschäftsberichten eigentlich verlassen kann.Das die Vancouverboys mit allen Wassern gewaschen sind wissen wir ja seit Jahren, aber die "Nova Gold Bombe" ist echt der Hammer …


Gruß konradi

[konradi]

Antwort auf Beitrag Nr.: 32.580.593 von konradi am 27.11.07 12:57:35

.

sorry hier ist der richtige Link zum vorherigen posting:

http://www.novagold.com/section.asp?pageid=4949

.

[DaenischeSuedsee]

Antwort auf Beitrag Nr.: 32.580.642 von konradi am 27.11.07 13:01:23

Hi,

die 5 Mrd. cad sind ja bis zur Produktion kalkuliert, denke ich mal, man müßte sehen, was anteilig Straßen und Tunnel ausmachen

zudem denke ich auch das Straßen- und Tunnelbau in CA billiger ist

[konradi]

Antwort auf Beitrag Nr.: 32.580.913 von DaenischeSuedsee am 27.11.07 13:24:57

.

jetzt sollen sich die Projektkosten von Galore plötzlich nur noch um etwa 100 Mio CAD jährlich (NovaGold 33% und Teck Cominco 67%) bewegen, auch noch ne ganze Menge für ein paar Zäune und nen Wachdienst ... siehe:
http://www.rohstoff-welt.de/news/artikel.php?sid=3814#Scene_…
zu den 5 Milliarden zuvor benannten Gesamt- (An)Teil- Infrastruktur- oder was weiß ich - Kosten natürlich nur eine kaum wahrnehmbare Differenz ...

[DaenischeSuedsee]

schade, daß der Experte sich bis jetzt nicht dazu äußert

ich meine value

[konradi]

.

tja, Freund value hat sich heute abend vermutlich ein oder zwei Gläschen hinter die Binde gekippt, das hat uns beide heute ganz schön angeschlagen ...

Auch "Drüben" lecken sich alle die Wunden. Durchhalteparole von Keizai:

Remember that even before the discovery at Mitchell, SA did trade as high as $18.00 a share. The Courageous Lake deposit is also nothing to sneeze at, and we should be getting an updated preliminary economic study soon as well. No doubt costs will climb as seen across the industry, but the additional mine life and higher grades should compensate.

erinnert sei auch an einen entscheidenden Unterschied im Vergleich Seabridge vs. Nova Gold: Bei SA beträgt das Ressourcenverhältnis Gold zu Kupfer 3 zu 1, bei Nova Gold ist es umgekehrt.

Was jetzt passieren kann ist möglicherweise eine großer Austausch in der Investorenzusammensetzung. Die early birds verabschieden sich mit einem lachenden und einem weinenden Auge und die "Neuen" werden sich ersteinmal genau umschauen und recht vorsichtig sein. Friedberg Mercantile hält vermutlich noch immer seine 20 %, muß sich aber natürlich auch an seine Portfolioregeln halten.

[konradi]

.

das beste wäre sowieso, die vier hier würden sich zu einem JV ihrer zusammenschließen:



.

[konradi]

Zu den Seabridge-Projektkosten gibt es nicht viele Zahlen (besser gesagt: ich kenne sie nicht :look Für das Kerr-Sulphurets Gebiet gibt es auf SA´s website nur veraltete Angaben vom September letzten Jahres:

Capital costs for the 30,000 t/d operation were estimated at $518.7 million, while the 60,000 t/d scenario would require $779.2 million in start-up capital and $40 million in year 8 to develop the Sulphurets property. Operating costs estimated based on industry standards with additional expenses added due to remote location of the deposits. The operating costs were estimated at $7.83 per tonne milled for the 30,000 t/d case and $6.14 per tonne milled for the 60,000 t/d case

Im Sommer wurde hier aber schon mal ein Artikel von J.C. Boland / seeking alpha mit einer groben Gesamtschätzung gepostet:

2,8 Milliarden für die Entwickling und eine weitere Milliarde für 6 Jahre Unterhalt. (Stand Mai 2007)

Zu diesem Zeitpunkt lagen die geschätzten Kosten von Nova Golds Galoreprojekt allerdings auch nur bei 2,5 bis 3 Milliarden. Unser hellsichtiger Experte Value hat schon damals auf den 4,3 km Tunnel und die 3 mal solange Zufahrt beim Nachbar Nova-Gold aufmerksam gemacht und dazu zynisch angemerkt: \"Sollte man nicht lieber Nova Gold und Teck shorten ?\"

.

[Maiki01]

Antwort auf Beitrag Nr.: 32.592.443 von konradi am 28.11.07 05:50:52

Es macht spaß euren mails zu folgen. Ich selber bin wie es scheint etwas zu spät in diese aktie eingestiegen, bei ca. 29,5 CAD..
Mit einem Umfang von rd. 50 tsd.€.. Natürlich habe ich im Moment zwei blaue Augen.
Das Konzept der firma gefällt mir. Das Problem liegt wie ich jetzt
erkennen muß in den finanz. Unwegbarkeiten bei Investments in die
übernommenen Mienen. oder hat sich einer von euch Gedanken gemacht über Tunnels, Anfahrwege etc..
Diese Kostenstruktur werden wwir hie kalkulieren können.

Wir können nur darauf spekulieren, daß die wertsteigerungen durch
weitere Anhebungen der Rohstoffpreise uns einen Puffer gegen diese
Unwägbarkeiten geben.

[konradi]

Hallo Maiki

mein Beileid !
- Zumal Du ja mit einer großen Summe eingestiegen bist. Mein Vertrauen in SA ist absolut nicht erschüttert, aber ich habe mich ja auch auf eine langfristige Perspektive eingestellt, und wohl die meisten "smarten" Explorerinvestoren - hier wie "drüben" verfolgen eine "hit and run" Strtegie. Das will ich auch garnicht kritisieren, nur man muß wissen, mit welchen Typen man es in dieser Branche zu tun hat ...

Gruß K.

Martin Siegel heute zu Nova Gold:

Die kanadische Novagold meldet den Stop der Entwicklung des Galore Creek Projekts, das in einem 50/50 Joint Venture mit Teck betrieben wird. Die Entwicklungskosten, die zunächst von 1,7 auf 2,2 Mrd $ gestiegen waren, explodierten nach einer neuen Studie auf 5,0 Mrd $, so daß das Projekt nicht mehr finanzierbar ist. Dies bedeutet, daß weitere Großprojekte nicht mehr finanzierbar sein werden, daß die Basismetall- und Edelmetallpreise nicht wesentlich fallen können und daß die Inflation weitaus höher ist, als der Öffentlichkeit immer wieder vorgerechnet wird.

.

[DaenischeSuedsee]

Antwort auf Beitrag Nr.: 32.597.150 von Maiki01 am 28.11.07 13:36:36

auf alle Fälle ist SEA mit jetzt (ich weiß nicht genau) ca 25$/ oz wieder billig

und es glaubt doch wohl niemend das so ein super pit keine Begehlichkeiten weckt, da seh ich bei anderen ganz andere Probleme als diese paar Straßenkilometer oder Tunnel

was die da bei Nova veranstalten ist und bleibt mir ein Rätsel natürlich können in der Realisierungsphase unerwartete Mehrkosten für Unvorhersehbarkeiten entstehen, aber in dem Umfang ? ?? haben die bis dato alle gepennt ??

[DaenischeSuedsee]

ehrlich gesagt überlege ich mir, ob das ganze nicht eher ein strategisches Manöver ist

wenn ich zwei Expertisen mit einer deratigen Differenz erhalte, dann kann irgendwo etwas nicht stimmen, ohne Details zu kennen sagt mir das erst mal mein ganz gesunder Verstand

[konradi]

Ich hatte mich beim Betrachten der Fotos vom Galore Projekt -
http://www.novagold.com/section.asp?pageid=4949
gleich gefragt weshalb da jetzt immer noch 5 Milliarden Dollar fehlen, denn die Straße sieht doch recht "fertig" aus und der Tunnel scheint zumindest schon mal im Rohbau fertig zu sein.

Jetzt hat der CEO von Nova, Rick Van Nieuwenhuyse dazu erklärt, das die 130 km Straße zu etwa 50 % und der 4,5 km lange Tunnel zu etwa 20 % fertiggestellt sei. Es muß also irgend ein unvorgesehenes Problem aufgetreten sein. Der Wechselkurs allein gibt das nicht her. Ich vermute mal das hat irgendwas mit der Hochwassergefährdung der Brückenkonstruktionen zu tun.

Man muß Seabridge mal anschreiben und konkret anfragen, wie die Erschließungsituation im Kerr-Sulphurets-P. ausschaut.

[Maiki01]

Antwort auf Beitrag Nr.: 32.598.804 von konradi am 28.11.07 15:26:24

Danke für eure Antwort. Für mich ist unverständlich inwiefern
solche gewaltigen Differenzen bei der Kalkulation von Straßen
+ Tunnels ** plötzlich** auftreten können.
Solche Probleme haben einen Vorlauf, im Grunde sind alle Fakten und daten Monate im Vorfelfd bekannt.

Ergo, hier wurden und werden Informationen vorenthalten.

Dies fördert nicht das Investorvertrauen.

Nächste Frage, warum ist dieses Nova - Projekt so enorm wichtig?
Gibt es nicht noch viele andere Projekte?

Gruß
Maiki

[DaenischeSuedsee]

Antwort auf Beitrag Nr.: 32.601.571 von Maiki01 am 28.11.07 17:34:53

also, hhrhhrerrrmmmm, ich glaube hier müssen wir nch mal ein zwei Schritte zurück gehen und etwas aufklären

Nova Gold ist, oder besser gesagt war bis vor zwei Tagen, ein Kupfer-Goldexplorer im pre-production Stadium, dessen Flagschiff das Gaylore Creek Projekt war, im JV mit Tech Cominco, das ist abgeblasen worden, deshalb drastischer Kursrutsch bei Nova Gold

Seabridge ist eine ganz andere Kiste, liegt nur unfortunately ( ich weiß nicht ob man bei der kanadischen Weite so sagen kann ) unweit von Nova Gold's Projekt Gaylore Creek entfernt

deshalb wurde Seabridge wegen der Befürchtung ähnlicher Probleme in Mitleidenschaft gezogen

sooooo, sollte ich hier unwissentlich was falsches von mir gegeben haben, dann bitte ich um entspr. Korrektur

ansonsten hoffe ich, das verständlich erklärt zu haben . . .

[Maiki01]

Antwort auf Beitrag Nr.: 32.602.651 von DaenischeSuedsee am 28.11.07 18:24:15

okay, ja, das ist angekommen. Ich habe mittlerw. eine
Abgreiforeder bei 24,8 cad reingelegt.
Mal schaun was daraus wird. nde und aus.

[konradi]

.

Nachbar Silver Standard Resources hat Anfang des Jahres eine Expertise zu seinem Snowfields Projekt in Auftrag gegeben. Die kann man sich hier runterladen:

http://www.silverstandard.com/assets/pdfs/Snowfield.pdf

Auf Seite 11 findet man eine location map mit zwei eingezeichneten Acess Roads zum Kerr-Sulphurets-Gebiet. In welchem Zustand die sich befinden, wem sie gehören und wie Seabridge sie zu nutzen gedenkt habe ich leider nicht rausbekommen.

weitere Karten:

http://www.teuton.com/maps/stewart_region.png

The Kerr-Sulphurets property is located in the Iskut-Stikine River region, approximately 65 km northwest of Stewart, British Columbia. Access to the property is by helicopter from Stewart. Mobilization of equipment and personnel can be staged quite effectively from the Tide Lake airstrip, Bronson Strip or from Bob Quinn and Bell II Crossing on the Stewart Cassiar Highway.

http://maps.google.com/maps?q=http:%2F%2Fbbs.keyhole.com%2Fu…





zur Erinnerung (vgl. Threadanfang)

Placer gold was discovered in Sulphurets Creek in the 1880s. In 1935, copper mineralization was discovered on Mitchell-Sulphurets Ridge in a location now known as the Main Copper Zone. In 1959, gold-silver mineralization was discovered in the Brucejack Lake area. These showings were subsequently explored with surface and underground exploration in the 1980s and 1990s as three comparatively small high-grade gold-silver zones by Newhawk Gold Mines Ltd. and Lacana Mining Corp.

In 1960, claims on the Sulphurets property were staked by Granduc Mines Ltd. and some independent prospectors. Exploration including diamond drilling was completed over an eight year period on Sulphurets Gold, Main Copper and Quartz Stockwork Zones by Granduc and the Newmont Mines Joint Venture. From 1971 to 1975 Granduc continued exploration on the Sulphurets Property. From 1980 to 1985, Esso Minerals optioned the Sulphurets Property from Granduc with in order to explore for porphyry molybdenum, bulk mineable copper-molybdenum-gold and gold-bearing vein type deposits. In 1985, Esso surrendered its interest in the Sulphurets Property to Granduc.

The Alpha Joint Venture ("Alpha") staked the Kerr Property in 1982 Anomalous gold values in soils were identified in 1983 by Alpha and based on these results Brinco Limited optioned the Kerr Property in 1984 and funded the next phase of geological mapping, prospecting and geochemical sampling. This work outlined a gold anomaly over one kilometer long. In 1985, Newhawk Gold Mines Ltd. and Lacana Mining Corp. formed a joint venture, and optioned the adjoining Sulphurets Property from Granduc and explored several zones, including conducting diamond drilling.

In 1989, field work completed by Placer Dome included additional diamond drilling to extend the Kerr deposit to a strike length of more than 1,600 meters. In 1990, Placer Dome completed a major diamond drill program on the Kerr Property to further define the deposit. Placer further completed a major diamond drill program on the Sulphurets Gold Zones and adjoining Kerr deposit during the summer of 1992, with the total exploration expenditures incurred by Placer on the Kerr-Sulphurets property through to year-end 1992 was C$6.6 million.


Umweltschutz:

The Kerr-Sulphurets Property falls within the Cassiar-Iskut-Stikine Land and Resource Management Plans (LRMP). At this stage, there are no direct Protected or Special Management Areas overlapping the Kerr-Sulphurets Property. However, as negotiations on recommendations proceed, there may be potential Land Use conflicts arising from future allocations by the Regional Protected Areas Team in the vicinity of the Kerr-Sulphurets project. In particular, a Conservation-oriented Protection Area and large River Corridor Special Management Area are currently being recommended along the lower two-thirds of the Unuk River. The establishment of this type of Protected Area, although it does not overlap the Kerr-Sulphurets Property, could impact the approval process of potential development plans and valley access to the project.

Reclamation and decommissioning activities associated with previous exploration activities have been initiated and almost completed on the Kerr-Sulphurets Property. The main activities include response to periodic inspections by the British Columbia Ministry of Energy and Mines. There are a number of outstanding activities that are still required to be administered in accordance with recommendations from the Ministry including additional reclamation on drill access roads and equipment and material clean-up. The British Columbia Ministry of Energy and Mines estimates $225,000 of additional reclamation work may be required and the Company has deposited this amount under a safekeeping agreement with the Ministry for these obligations.

[micdid]

Antwort auf Beitrag Nr.: 32.598.804 von konradi am 28.11.07 15:26:24

Vielleicht kann ich die Situation bzgl. Novagold etwas aufhellen:

Galore Creek ist tatsächlich etwas differenzierter zu sehen.
Es liegt halt in einem Tal, wo man nur durch den Bau eines Tunnels (4,3km) unter einem Gletscher hinkommt. Hier gibt es Probleme wie mögliche Wassereinbrüche.
Dazu musste man 135km Strassen bauen, inklusive 50 Brücken.
Die Gegend ist extrem unwegsam, sodass die Strommasten nur per Helicopter installiert werden können. Daher sie bereits zuvor hohe capex von 2,2 Mrd$.
Das Management hat aber viele Fehler gemacht. NG hat zuvor einfach auch sehr agressiv gerechnet mit z.B. 365tagen/20h Betrieb, und das bei extremen Frost und Schneefallbedingungen. Auch Erdbebentätigkeit ist ein Thema.
Das eigentliche Problem kam dann erst raus nachdem Teck Cominco eingestiegen war und anscheinend nochmal nachgerechnet hat (lassen hat).
Da das Gebiet anfällig ist für Lawinen und Überflutungen gingen am Ende die Kosten wegen dem Wassermanagement und dem Tailingsdam so in die Höhe.
Man müsste nun umfangreiche Vorkehrungen treffen um Cyanidschlämme und gigantische Tailings vor Fluten und Lawinen zu schützen, die sonst Fischgründe etc auf der Alaskaseite bedrohen.
Nach einem Jahr Arbeit (Strassen 50% fertig, Tunnel 20%) sah man zudem ein, dass die Verzögerung des Projektes etwa 18-24 Monate betragen würde was dementsprechend auch die Personalkosten explodieren liesse. Ich sage nur die Milchmädchenrechnung 365/20h bei den Witterungsbedingungen, sowie Transport von Arbeitern und Material über so lange Zeiträume per Heli usw.

Ich habe das Thema bei WO im CUU & NG-Thread recht ausführlich besprochen. Dort sind auch detailiertere Links zu finden.

Inwiefern Seabridge betroffen ist kann ich nicht sagen. Eventuell durch die jüngste Entscheidung der BC-Regierung die geplanten Stromleitungen erst mal auf Eis zu legen.
Diese hätten zu grossen Kosteneinsparungen bei anderen Projekten wie Ramios, Copper Fox, Copper Canyon geführt. Ob SEA profitiert hätte davon kann ich z. Zt. nicht sagen.

Grüsse,
Mic

ps: Novagold trifft gerade der nächste Schlag. Die Capex beim zweiten Megaprojekt mit Barrick, Donlin Creek, wird sich ebenfalls etwa verdoppeln auf 4 Mrd $.
Aber auch hier ist die Infrastruktur in einem der unwegsamsten Gebieten der Welt (Alaska) das Problem. Keinerlei Infrastruktur. Stromversorgung ungelöst. Zugang nur über einen Fluss, über 400km Strecke und das nur 4 Monate pro Jahr weil sonst zugefroren.

Arktische Vorkommen sind wegen den enormen Infrastrukturaufwendungen gerade mit grosser Vorsicht zu geniessen. Das spielt der Markt gerade…

[konradi]

Hallo micdid, Danke für Deine Infos. Ich kann nur immer wieder auf die Fotos verweisen: http://www.novagold.com/section.asp?pageid=4949

Ein Großteil der anstehenden Arbeiten wurden also längst erbracht. Hätte es z.B. Schwierigkeiten bei der Tunnelbohrung gegeben, hätte das schon lange bekannt sein müssen. Die Strommasten kosten keine halbe Milliarde selbst wenn sie mit Helikoptern eingeflogen werden müssen. Und was so ein Rückhaltebecken kostet weiß jedes Bergbauunternehmen auch ohne eine aufwändige Machbarkeitsstudie. Das die Deppen von Hatch sich "grob" verschätzt haben, steht außer Frage. Aber sie haben sich nicht um 250 Millionen "verschätzt" sondrrn um 2.500.000.000,- CAD !

Nochmal: für 1,5 Milliarden Euro baut man in Deutschland eine Aurobahntrasse von Hamburg nach Hannover, da braucht man zwar keine Helkopter für, aber die 6 Spuren sind dafür wenigstens schon geteert ...

Gruß Konradi

[DaenischeSuedsee]

Antwort auf Beitrag Nr.: 32.612.093 von micdid am 29.11.07 12:54:49

auch von meiner Seite vielen Dank für die Info

ich hatte noch nicht die Zeit mich so in die Details hinein zu knieen

[macvin]

Antwort auf Beitrag Nr.: 32.612.093 von micdid am 29.11.07 12:54:49

Danke für Deine umfassenden Recherchen zu Galore Creek und die weiterführenden Gedanken. Es ist wohltuend, bei WO sowas zu lesen (der Rest ist eben häufig Schrott).

Technologische Probleme lassen sich grundsätzlich lösen. In der Regel kommt es dabei zu Kostenerhöhungen (in good old Germany wird das Thema Transrapid zwischen München und Flughafen sicher auch noch in diesem Kontext diskutiert werden ), allerdings nicht in dem Mass wie bei GC oder wie nun vermutet bei Donlin Creek.

Der Haupknackpunkt dürft eher im Umweltbereich zu suchen sein:

Man müsste nun umfangreiche Vorkehrungen treffen um Cyanidschlämme und gigantische Tailings vor Fluten und Lawinen zu schützen, die sonst Fischgründe etc auf der Alaskaseite bedrohen.

Ich kenne die Umweltgesetze von Alaska nicht, aber es gibt eben einige US-Bundesstaaten die das sehr ernst nehmen (z.B. Montana). Ich sehe also durchaus nicht nur technische Gründe sondern auch politische Aspekte, die ein solches Projekt verteuern, resp. im schlimmsten Fall völlig ausbremsen können.

Gäbe es diesen Aspekt nicht, dann könnte man getrost Novagold wieder kaufen. Ein entprechender Goldpreisanstieg würde die angekündigten Kostensteigerungen schnell vergessen machen. Ein Mangel an Machbarkeit aus Umweltgründen kann das alles völlig konterkarrieren.....

Ob SEA nun auch in eine ähnliche Situation schlittern könnte, entzieht sich meiner Beurteilung.

[konradi]

.

Hallo Macvin, alter Kämpe

... ja so etwas ist vertraglich geregelt. Schau Dich mal beim Nachbar Eskay Creek um (fünftgrößter Silberproduzent der Welt, zweitgrößter Goldproduzent Kanada). Die Mine ist seit 1998 in Betrieb und wird, nachdem alles Erz abgebaut ist - im nächsten Jahr - geschlossen. Dann werden alle Schlammbecken, access roads und baulichen Anlagen dem Erdboden gleich gemacht (siehe British Columbia Environmental Assessment Act und Tahltan First Nation), so das die Natur das Gelände wieder "zurückerobern" kann. Die Kosten dafür dürften ziemlich genau bekannt sein, schließlich tummeln sich in der ganzen Stewart Region die Branchenriesen mit ihrem jahrelangen Erfahrungsschatz. Schön wär´s ja, wenn Seabridge auf eine der alten roads zurückgreifen könnte.

So "harmlos" sieht übrigens die access road aus, die zum Eskay Creek führt:



Mehr Fotos und Infos zur Region gibt übrigens es hier:

http://explorenorth.com/library/communities/canada/stewartp…

.

[micdid]

Antwort auf Beitrag Nr.: 32.614.161 von konradi am 29.11.07 15:18:56

Hi Konradi,

ja wenn man die 3-4 hübschen Bilder aus dem Sommer so betrachtet und diese einfachen Sandpisten sieht kann kaum zu anderen Schlüssen kommen als du. Das reinste Picknick da. Geht man aber mal ins Detail...

Wir sind halt sehr effektiv hier in Deutschland und erledigen das im Übrigen mit Maschinen UND zwischen HH und H im Flachland bei gutem Wetter ohne Knappheiten irgendwelcher Art (Material, Maschinen, Personal, Unterkünfte, Catering etc).

Dort wird ALLES eingeflogen, man ist am Arsch der Welt und muss Leuten ein ordentliches Premium zahlen um sie da hinzubekommen.
Drei Fotos sagen mir noch nicht alles. Ich sehe vielleicht halbfertige 10 der 135km. und nur zwei der 50 Brücken. Wie sieht es da im Winter aus?
Vielleicht drei Meter hoher Schnee? Minus 20°C? Schneetreiben, wo kein Heli fliegt oder im tiefen Schnee landen kann? Wie weit wird Material herangeschafft? Der Heli macht ja nur das letzte Stück. Die Dinger sind sicher auch knapp und gerade doppelt oder dreimal so teuer zu chartern. Jedes verdammte Catering kostet richtig Geld ebenso wie jeder Koch der da arbeiten soll. Man muss Unterkünfte bereitstellen oder Gott weiss was bezahlen für die wenigen vorhandenen Unterkünfte die vermietet werden. Das sieht im deutschen Flachland schon etwas anders aus als in den vergletscherten Rocky Mountains mit Bergen höher als die Alpen.

Man hatte ja vor nun, nach einem Jahr fertig zu sein mit Strasse und Tunnel. Stand ist aber 50+20%.
Daher die Verzögerung von weiteren 18-24 Monaten.
Beim Tunnel wusste man erst mitten im Bau wieviel Schmelzwasser da so rumschwimmt und man ist hier ja besonders langsam voran gekommen.
Beim Tailingsdam kann man sich vermutlich eine kleine "Stausee"-Konstruktion vorstellen, denn wenn der überschwemmt wird oder auch nur 1x in 20 Jahren bricht weil ein Erdbeben oder eine Riesenlawine ihn wegfegt dann sind die Umweltschäden (Fischgründe in Alaska)irreparabel und des JV bis zum Get No mit Klagen (aus den USA)überzogen.
Klar hat NG bisher "normale" Standarts angelegt damit die Zahlen gut aussehen und die Shareholder happy und der Kurs hoch. Ich sage nur 365/20h, egal ob es da minus 20 Grad ist über Monate alles in Schnee versunken usw.
Das ist ja nun offensichtlich geworden, wo erst Teck und nun Barrick denen erklären muss wie eine "realistische" Rechnung und Zeitplanung in solch einem Gelände aussieht bzw. der tatsächliche Fortschritt zeigt was realistisch ist.
Die ganze Rechnung bei Galore Creek war auch nur mit unglaublich agressiven 5% abgezinst und nicht mit 8 oder vielleicht 10% was diesen widrigen Umständen eher Rechnung getragen hätte. Denn dann hätte die BFS bereits 2006 alles andere als robust ausgesehen.
Interessierte schauen hierzu bitte:
http://gold.seekingalpha.com/article/21754
Ein Auszug daraus:
I have now read the Feasibility Study twice and I have a hard time believing that financing is eminent. At a 5% discount, the base case [$1.75 copper, $525 gold and $8 silver] for Galore Creek shows a Net Present Value [NPV], of future cash flows, of $599MM. But at a more reasonable 8% discount the NPV drops to $233MM. Novagold clearly does not have the equity to borrow $2B for capital costs based on this NPV
oder dies hier:
Sensitivity analysis shows that NPV is most sensitive to the price of copper followed by USD/CAD exchange rates, then capital/operating costs. A 10% increase in the CAD drives the NPV [at an 8% discount] to about $0. Most disturbing is the fact that the study assumes a USD/CAD exchange rate of only .81. Last I looked, the exchange rate was closer to .88 and in September when this study was being devised, the exchange rate was over .90.
auch interessant:
Additionally, at Galore Creek, a 20% increase in either capital costs or operating costs will also drive the NPV to $0. Considering mining costs and construction costs have recently risen about 15% per year, it is very aggressive to have NO provisions for cost increases in the Feasibility Study
und zuletzt noch dies hier:
Despite the resource, Galore Creek economics are not all that attractive. Novagold’s promises may seem realistic to devoted shareholders, but joint venture partners may be harder to impress.

Und so geht es da immer weiter. Von Donlin habe ich dabei noch nicht einmal angefangen...

Dieser Analyst hat einfach Ahnung, denn ein Jahr später ist es ja genauso gekommen wie er befürchtet hat.
Ich warne vor NG seit dem 14.11. nachdem sie bei dem Deal(Einigung) mit Barrick über den Tisch gezogen worden sind im NG-Thread.
Ich schwanke noch dazwischen ob das NG-Management als grob fahrlässige Ganoven oder als unfähige Träumer anzusehen sind.

So lange das SEA Management nicht so rechnet (NG ist jetzt ein schöner Vergleich wie es auf gar keinen Fall aussehen darf)dann braucht sich bei SEA niemand Sorgen machen.

So jetzt ist aber auch gut von meiner Seite. Ich hoffe ich habe niemanden damit gelangweilt.

Grüsse,
Mic

[konradi]

Hallo micdid,
nochmals herzlichen Dank, Deine Einwände sind absolut nachvollziehbar. Nur hat es im vergleichbaren Umfeld wie z.B im 20 km Eskay Creek doch ohne Schwierigkeiten geklappt, siehe http://www.bcminerals.ca/files/bc_mine_information/000127.ph…bzw. http://www.barrick.com/GlobalOperations/NorthAmerica/EskayCr… Es gibt also durchaus Erfahrungswerte, die man in Relation setzen kann.

[micdid]

Antwort auf Beitrag Nr.: 32.616.688 von konradi am 29.11.07 17:54:09

Ich wollte hier absolut nichts in Zweifel ziehen.
Ich habe nur über NG gesprochen.
Galore Creek ist eine wesentlich grössere Operation als alles andere dort.
Ich dachte dies hilft eure Fragen zu beantworten warum der Kurs von vielen anderen in der Gegend mehr oder weniger mitbetroffen wurden.

Ab nun kümmere ich mich wieder um meinen eigenen Kram.

Viel Erfolg,
Mic

[konradi]

... hat uns geholfen, merci, und ebenfalls good luck

[DaenischeSuedsee]

wer's noch nicht mitbekommen haben sollte . . .

2007-11-29 News Release Seabridge drills 396.9 m of 1.11 g/t Au at Mitchell
.

[konradi]

.

So Leute, Ihr könnt wieder kaufen ...
Die wohl zur Zeit wichtigste Aussage habe ich rot markiert


Drill Results Continue to Upgrade and Expand Seabridge Gold's Mitchell Deposit


Thu Nov 29, 2007 10:49am EST


TORONTO, CANADA, Nov 29 (MARKET WIRE) -- Seabridge Gold Inc. (TSX VENTURE: SEA)(AMEX: SA) - Assay results from nine additional drill holes continue to point towards a significant upgrade and expansion of gold and copper resources at the Mitchell deposit. Mitchell is one of three gold-copper porphyry deposits on Seabridge's 100% owned Kerr-Sulphurets project near Stewart, British Columbia, Canada.


The project is well located close to the operating Eskay Creek mine and its all-weather road to Stewart. Highway #37 also offers excellent access to several possible sites staked for processing facilities.


The 2007 drill program was designed to upgrade much of the existing 13.1 million ounce inferred gold resource (564 million tonnes grading 0.72 grams per tonne gold and 0.18% copper) to the measured and indicated categories and to pursue extensions of the deposit to the south, north and at depth. Resource Modeling Inc. will calculate a NI 43-101 compliant independent resource estimate for the Mitchell deposit once all assay results have been received and analyzed. The new resource calculation is expected to be released in February, 2008. Discrete zones of molybdenum mineralization have been identified in the Mitchell deposit and the potential for a resource model and resource estimate for molybdenum is also being evaluated.

The 2007 drill program consisted of 37 core holes totaling 15,294 meters. Results from the first 17 holes drilled in 2007 were previously announced

(see news releases dated September 4, 2007

(http://www.seabridgegold.net/NSept4_07.htm) and October 16, 2007 http://www.seabridgegold.net/NOct16_07.htm)). Results from the next nine holes are as follows:

-------------------------------------------------------------------
-------------------------------------------------------------------
Drill Target Depth From To Intercept Gold Copper
Hole (m) (m) (m) (m) (gpt) (%)
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-41 Southern 197.8 6.7 197.8 191.1 0.20 0.06
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-42 SW Offset 355.7 2.1 355.7 353.6 0.18 0.09
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-43 Southern 312.7 1.0 312.7 311.7 0.51 0.12
Incl. 1.0 38.0 37.0 0.86 0.17
Incl. 160.0 198.0 38.0 0.63 0.11
Incl. 254.9 286.0 31.1 0.75 0.16
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-44 Depth 646.1 1.3 646.1 644.8 0.46 0.07
Incl. 312.6 553.0 240.4 0.58 0.08
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-45 Infill & 650.7 4.6 650.7 646.1 0.81 0.17
Depth Incl. 128.0 650.7 522.7 0.93 0.19
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-46 Southern 424.3 2.3 424.3 422.0 0.32 0.13
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-47 Infill & 442.6 9.8 442.6 432.8 0.58 0.21
Depth Incl. 237.5 442.6 205.1 0.71 0.27
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-48 Infill & 394.4 6.4 394.4 388.0 0.72 0.21
Depth
-------------------------------------------------------------------
-------------------------------------------------------------------
M-07-49 Infill & 396.9 0.0 396.9 396.9 1.11 0.22
Depth
-------------------------------------------------------------------
-------------------------------------------------------------------
Results from the final 11 holes of the 2007 drill program are expected
to be released in the next several weeks.

Seabridge President and CEO Rudi Fronk said that "the data from this
year's program now supports the likelihood of a major expansion of the
Mitchell deposit. Significant concentrations of molybdenum may support a
resource estimate which could help the project's economic potential."

M-07-41: A south extension hole collared just below the Mitchell Thrust
Fault. Alteration intensity diminished in the volcanic rock, which give
way down hole to a section of sedimentary rocks and unaltered intrusive
rocks. Gold and copper grades persist but are lower than the core of the
deposit. Results indicate the drill hole is approaching the margin of the
mineral system.

M-07-42: The southwestern most step-out in the program. Geology
intersected in the hole is more diverse than elsewhere in Mitchell Creek
and similar to holes drilled at Sulphurets. Volcanic rocks are intruded
by numerous narrow dikes with widespread chlorite and epidote alteration.
Gold and copper grades are not continuous but in narrow zones. This drill
hole defines the southwest limit of the Mitchell deposit.

M-07-43: Eastern most step-out drill hole on the south side of the
Mitchell deposit. The hole was collared below the Mitchell Thrust Fault
and drilled volcanic rock with abundant quartz veining and sericite
alteration. Results demonstrate the continuity of the Mitchell deposit
south along this section.

M-07-44: Northeastern most deep drill test, collared above the Mitchell
Thrust Fault passed into the deposit at about 50m. The bulk of the drill
hole is in volcanic rock with variable sericite-rich or chlorite-rich
alteration. Results continue to demonstrate the vertical continuity of
the deposit.

M-07-45: Infill drill hole to intersect deep target on the north side of
the deposit. Volcanic rocks with abundant quartz veins and intense
sericite alteration characterize the drill hole. Results from this hole
confirm the deep potential of the deposit with exceptional grades below
128m.

M-07-46: A step-out hole to the south on the western part of the deposit.
Alteration of volcanic rocks in this hole are similar to holes drilled
west of the section. Results contain continuous gold and copper grades
but slightly lower than in the heart of the Mitchell deposit.

M-07-47: A deep test in the central part of the deposit. Drill hole
abandoned short of objective due to unstable slope conditions at the
site. The volcanic rock in this hole is extensively and intensively
altered. Results continue to demonstrate the strength and continuity of
gold and copper grades with increasing grades at depth.
M-07-48: An infill hole in the east central part of the deposit. Rocks in
this hole are extensively altered and similar to the drill holes that
were off-set, confirming the continuity and consistency of the Mitchell
deposit.

M-07-49: An infill hole, drilled from south to north, the opposite
direction to the drill pattern (Azimuth 10o). This hole was designed to
evaluate if a directional bias is present to the distribution of gold and
copper in the deposit. Rocks intercepted in the drill hole show
alteration and stockwork veining similar to surrounding holes drilled
from north to south. Stockwork vein intersections in this drill hole are
nearly parallel to the drill course, confirming that the north to south
drill orientation is the best direction for obtaining a representative
sample of the deposit. Results demonstrate that within the heart of the
mineral system higher grade gold concentrations are continuous.

Based on drilling conducted by Seabridge in 2006, a National Instrument
43-101 compliant resource estimate for Mitchell yielded an initial
inferred resource of 564 million tonnes grading 0.72 grams per tonne gold
(13.1 million ounces) and 0.18% copper (2.23 billion pounds) at an
equivalent gold cut-off grade of 0.50 grams per tonne gold (see news
release dated February 20, 2007). Equivalent grades were determined using
a gold price of US$475 per ounce and a copper price of US$1.50 per pound.
The 2006 drill program did not find the limits of the deposit which
remained open to the north, to the south (toward the Sulphurets deposit a
distance of two kilometers), to the west and at depth.

Unless reported separately, all of the reported holes contained herein
were drilled from north to south at an inclination of approximately minus
60 degrees. The true thickness of the Mitchell zone, based on drill
results from the current program, is now estimated to exceed 600 meters
but could be more as the deepest hole drilled to date (M-07-35) ended in
material that was the best grades encountered to date.

Exploration activities at Kerr-Sulphurets are being conducted by
Seabridge personnel under the supervision of William E. Threlkeld, Senior
Vice President of Seabridge and a Qualified Person as defined by National
Instrument 43-101. An ongoing and rigorous quality control/quality
assurance protocol is being employed during the 2007 program including
blank and reference standards in every batch of assays. Cross-check
analyses are being conducted at a second laboratory on 10% of the
samples. Samples are being assayed at Eco Tech Laboratory Ltd., Kamloops,
B.C., using fire assay atomic adsorption methods for gold and total
digestion ICP methods for other elements.

Seabridge has acquired a 100% interest in nine North American gold
resource projects. For a breakdown of the Company's mineral resources by
project and resource category please visit the Company's website at
http://www.seabridgegold.net/Resource.htm.

All resource estimates reported by the Company, with the exceptions of
the historic estimates for the Hog Ranch project and the Kerr and
Sulphurets deposits, were calculated in accordance with the Canadian
National Instrument 43-101 and the Canadian Institute of Mining and
Metallurgy Classification system. These standards differ significantly
from the requirements of the U.S. Securities and Exchange Commission.
Mineral resources which are not mineral reserves do not have demonstrated
economic viability.

Statements relating to the estimated or expected future production and
operating results and costs and financial condition of Seabridge, planned
work at the Company's projects and the expected results of such work are
forward-looking statements within the meaning of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by words such as the following:
expects, plans, anticipates, believes, intends, estimates, projects,
assumes, potential and similar expressions. Forward-looking statements
also include reference to events or conditions that will, would, may,
could or should occur. Information concerning exploration results and
mineral reserve and resource estimates may also be deemed to be
forward-looking statements, as it constitutes a prediction of what might
be found to be present when and if a project is actually developed. These
forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable at the time
they are made, are inherently subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements,
including, without limitation: uncertainties related to raising
sufficient financing to fund the planned work in a timely manner and on
acceptable terms; changes in planned work resulting from logistical,
technical or other factors; the possibility that results of work will not
fulfill projections/expectations and realize the perceived potential of
the Company's projects; uncertainties involved in the interpretation of
drilling results and other tests and the estimation of gold reserves and
resources; risk of accidents, equipment breakdowns and labour disputes or
other unanticipated difficulties or interruptions; the possibility of
environmental issues at the Company's projects; the possibility of cost
overruns or unanticipated expenses in work programs; the need to obtain
permits and comply with environmental laws and regulations and other
government requirements; fluctuations in the price of gold and other
risks and uncertainties, including those described in the Company's
Annual Information Form filed with SEDAR in Canada (available at
www.sedar.com) for the year ended December 31, 2006 and in the Company's
Form 20-F filed with the U.S. Securities and Exchange Commission
(available at www.sec.gov/edgar.shtml).

Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management or its independent professional
consultants on the date the statements are made.


ON BEHALF OF THE BOARD
Rudi Fronk, President & C.E.O.

TSX-V Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
Contacts:
Seabridge Gold Inc.
Rudi P. Fronk
President and C.E.O.
(41...
(416) 3... (FAX)
Email: [e-mail]
Website: www.seabridgegold.net
Copyright 2007, Market Wire, All rights reserved.
-0-










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[Schnueffelnase]

Antwort auf Beitrag Nr.: 32.632.045 von konradi am 30.11.07 20:04:15

So Leute, Ihr könnt wieder kaufen ...


Der Goldpreis fällt, und Seabridge fällt mit. Ich warte lieber noch ein bisschen.

[konradi]

Antwort auf Beitrag Nr.: 32.643.935 von Schnueffelnase am 03.12.07 10:28:31

...Jaja, es gibt natürlich Leute die folgen immer dem Herdentrieb ...

Goldman Sachs weiß, wie man Schlagzeilen macht: Die Investmentbank gab Ende vergangener Woche kurzerhand eine Verkaufsempfehlung für Gold - in Zeiten, in denen die Mehrzahl der Anlageberater zum Kauf des Edelmetalls raten dürfte.

"Wir glauben, dass Gold sehr, sehr gut gelaufen ist. Eine Korrektur von 15 bis 20 Prozent ist fällig", sagte Goldman-Sachs-Chefökonom Jim O'Neill.

Honi soit qui mal y pense ...

.

[Schnueffelnase]

Antwort auf Beitrag Nr.: 32.646.969 von konradi am 03.12.07 15:03:24

Was kann ich dafür, dass die Analysten zufällig auch mal Recht haben?
Mir war in den letzten zwei, drei Monaten nicht nur der Goldpreisanstieg zu arg, auch die Resonanz in den Medien und den Foren war mir zu Pro-Gold, um an einen raschen weiteren Anstieg zu glauben. Charttechnik tut ein übriges.

[konradi]

.


Haaaaallo ?? - ist da noch jemand ?


Value, was ist los mit Dir ???

- Du tauchst ja gar nicht mehr auf hier – hast Du Deine shares etwa vertickt ? - Naja, ich sehe es Dir nach - aber als "Abschiedsgeschenk" an unsere kleine Gemeinde kannst Du ja vielleicht noch mal ein kleines statement abgeben, oder ?

hier noch ein news-update:

Preliminary Assessment Underway for Seabridge Gold's KSM Project
December 06, 2007: 08:00 AM EST

Seabridge Gold (TSX VENTURE: SEA) (AMEX: SA) announced today that it has assembled a team of independent consultants to prepare a National Instrument 43-101Preliminary Assessment for its 100% owned Kerr-Sulphurets-Mitchell ("KSM") project located near Stewart, British Columbia, Canada.

(…)

In 2006, Seabridge completed a 24 hole core drilling program north of the Sulphurets deposit. That drilling program delineated a third deposit, now known as Mitchell, which was estimated to contain an inferred resource of 564 million tonnes grading 0.72 grams per tonne gold (13.1 million ounces) and 0.18% copper (2.23 billion pounds) at an equivalent gold cut-off grade of 0.50 grams per tonne gold (see news release dated February 20, 2007).

During 2007, Seabridge completed an additional 15,000 meter drill program at Mitchell (37 core holes) which is expected to: (i) significantly increase the size of the Mitchell deposit with extensions to the south, north and at depth, and (ii) upgrade inferred resources to an indicated category. RMI is expected to complete an updated resource estimate for the Mitchell deposit in February 2008.

Seabridge President Rudi Fronk stated "drill results obtained from the 2007 program lead us to believe that Mitchell should rank as one of the world's largest undeveloped gold-copper projects situated in a jurisdiction where political risks are acceptable. The location of the project is well suited to facilitate a large mining operation with year-round road access only 25 kilometers away, connecting to the port of Stewart which provides year-round access to the Pacific Ocean

(…)

The Preliminary Assessment is being coordinated by TJS Mining-Met Services and includes a number of independent contractors including: Resource Modeling Inc. (resource estimate), Rescan Environmental Services (environmental baseline and permitting), Klohn Crippen Berger (geotechnical work on tailing, diversions, tunnels and site services), Piteaus Associates Engineering Ltd (rock mechanics and mining pit slopes), Moose Mountain Technical Services (mine planning, costing and production scheduling), WN Brazier Associates (electrical and power generation plans and economics) , TJS Mining-Met Services Inc (metallurgy and process). In addition to on-site sampling, selected ore samples and waste samples will be tested in 2008 to determine the environmental parameters and further characterize the metallurgical response of the Mitchell ore zones. The Preliminary Assessment is scheduled for completion in late 2008. As part of their mandate, TJS Mining-Met Services and Rescan Environmental Associates will also facilitate the preparation of a Project Description document, scheduled for completion by March 2008. This document is required by the government to initiate permitting activities for the project.

(…)

American Creek Resources (TSX-V: AMK) makes significant discovery at Treaty Creek

The Treaty Creek property is not only adjacent to one of the largest undeveloped gold/copper projects in Canada, but appears to form part of the same highly mineralized trend line. The southern portion of the trend line, held by Seabridge Gold (SEA:TSX-V) and Silver Standard (SSO:TSX-V) , contains bulk tonnage deposits hosting a combined inferred resource of approximately 19.6 million ounces of gold, 18 million ounces of silver and 4.95 billion pounds of copper.



@ Schnüffelnase, Du bist doch nicht neu in der Branche – dann weißt Du doch: die Analüsten haben immer recht!

(Hinterher)

nur mal so zum Spaß: Stand der Dinge 04.12.2007 –




noch Fragen ?


so und das hier kann man sich ggf. auch noch reinziehen:

Hurra, das Schlimmste ist vorüber
(FTD vom 10.12.)

(…)

Es ist das alte Lied. Am Aktienmarkt kauft man bei schlechten Nachrichten. Nach dieser anscheinend verqueren Logik ist die satte Kapitalerhöhung der UBS ein weiteres klares Kaufsignal und das quasi für den ganzen Finanzsektor. Denn was könnte nun noch Schlimmeres kommen? Da - wie zu erwarten - zudem ein Broker nach dem anderen für den Finanzsektor trommelt, die US-Geldpolitik die Schleusen weit öffnet und etliche institutionelle Adressen auf dem falschen Fuß erwischt worden sein dürften (indem sie untergewichtet sind oder noch einen Rest an Leerverkaufspositionen offenstehen haben), könnte sich die Kurserholung angesichts des Interesses von Staatsfonds noch eine Weile fortsetzen.

Doch wie steht es um die mittelfristigen Perspektiven? Dazu sollte man sich zunächst bewusst machen, dass die Kurse nicht einmal um ein Fünftel unter ihren Höchstständen liegen. Tatsächlich notiert der Stoxx Banken, der wie der Stoxx 600 zum 31.12.91 auf 100 indexiert ist, mit 449 Zählern, gegenüber 375 beim Stoxx 600. Und kann man davon ausgehen, dass bald wieder alle Bankensegmente - Kreditvergabe, Handel, Emissionsgeschäft, Fusionsberatung, Vermögensbetreuung - gleichzeitig brummen werden, dass alle Vermögensmärkte - Aktien, Renten, Rohstoffe, Immobilien - gleichzeitig haussieren, dass, kurzum, die Banken (und Versicherer mit ihrem Kapitalmarktgeschäft) künftig in einem ähnlich günstigen Umfeld agieren können wie noch bis vor Kurzem?

Wohl kaum. Nicht nur, dass sich die Kreditausfälle nach der Schuldensause häufen werden, und zwar weit über das US-Ramschhypothekensegment hinaus (die konsolidierte Bilanz des Euro-Bankensystems ist über die vergangenen zehn Jahre um 12.310 Mrd. Euro gewachsen). Zudem werden die Abschreibungen und womöglich eine zusätzliche Regulierung das zur Expansion notwendige Eigenkapital mindern, wobei Kapitalerhöhungen angesichts der Verwässerung nur ein schwacher Trost sind. Ganz generell dürfte auch der Wettbewerb schärfer werden, wenn die Banken keine Idealbedingungen mehr vorfinden, das Geld für sie also nicht mehr auf der Straße liegt. Und genau das war ja bisher der Fall. In den USA hat sich der Gewinn der Finanzbranche binnen zehn Jahren mehr als verdreifacht. Selbst im dritten Quartal hat die US-Finanzbranche gut zwei Drittel des Gewinns der nichtfinanziellen Sektoren erzielt - mit einer Wertschöpfung, die 17,5 Prozent der nichtfinanziellen Kapitalgesellschaften entspricht.

Es dürfte insofern gewagt sein, mit der für 2008 vom Konsens unterstellten Eigenkapitalrendite von 16 Prozent zu rechnen, auf deren Grundlage sich für die europäischen Banken ein KGV von neun ergibt. Schon bei einer etwas realistischeren EK-Rendite von zehn Prozent ergäbe sich ein KGV von gut 14. Und das wäre eindeutig zu viel für einen Sektor, der bereits bei den ersten Vorboten der Kreditkrise auf riesige Kapitalerhöhungen angewiesen ist.


Der verzweifelte Versuch einer Rettung
(FTD vom 03.12.)

Der Plan des US-Finanzministeriums, den von Zinserhöhungen bedrohten US-Eigenheimbesitzern aus der Patsche zu helfen, soll den Steuerzahler angeblich nichts kosten.

Das Vorhaben "schließt die Aufwendung von Steuergeldern sowohl für die Finanzierung als auch für die Subventionierung von Branchenmitgliedern oder Hauseigentümern aus", so jedenfalls Finanzminister Henry Paulson. Recht so, möchte man rufen. Fragt sich nur, wie die US-Regierung dann das sogenannte Trittbrettfahrerproblem umgehen will. Denn jeder einzelne Hypothekenfinanzierer hat ja einen Anreiz, nur die anderen die Zeche zahlen zu lassen - und dennoch von den vermeintlichen Vorzügen des Hilfsplans zu profitieren. Wenn alle anderen mitmachen, würde das ohnehin helfen, den Hausmarkt, die Wirtschaft, die Zahlungsausfälle, die Risikoprämien sowie die strukturierten Hypothekenverbriefungsmärkte zu stabilisieren, nicht wahr? Jede Bank wird sich da fragen: Warum also selbst mitmachen? Im Gegenteil: Setzt die eigene Hypothekenbank die Zinssätze für ihre Kreditnehmer wie vertraglich vereinbart nach oben, fällt das gesamtwirtschaftlich kaum ins Gewicht. Solange die anderen mitmachen, würde jede einzelne Bank sogar doppelt gewinnen, wenn sie außen vor bleibt.

Da aber jede einzelne Hypothekenbank so denken wird, kann der Plan eigentlich nur zum Scheitern verurteilt sein. Das gilt zumindest dann, wenn man von gesetzlichen Zinsvorgaben und einem entfesselten patriotischen Akt des kollektiven Edelmuts absieht. Es sei denn, der Staat gibt jeder einzelnen Bank eben doch fiskalische Anreize, damit sich die Teilnahme an dem Programm für sie tatsächlich lohnt. So sehr der Staat auch versicherte, dass dies eine einmalige Hilfsaktion sei, bestünde dann allerdings die Gefahr, dass Kreditnehmer und -geber das Signal so auffassen: Langt nur weiter zu, denn im Fall der Fälle steht der Staat für euch ein. Das Ergebnis wäre die Aushebelung des marktwirtschaftlichen Systems - mit weitreichenden Konsequenzen für Wirtschaft, Inflation, Dollar und Aktien.

(…)


Gruß an die Gemeinde

.

[Wertaktien]

konradi

take it easily, - es ist Grippezeit!

Er wird mit der ersten Frühlingssonne schon

wieder auftauchen!

Salud und happy trading!

[valueinvestor]

Ich bin noch mit allen Aktien dabei, hatte mir nur eine Pause in der Diskussion gegönnt.

Nach mehreren Jahren, in denen alles perfekt für sea lief, war die Nova Gold Bombe der erste richtige Tritt in die Eier. Ich hielt Nova für eines der wenigen kompetenten Unternehmen in der Branche. Und Galore Creek hat einen höheren Wert je Tonne als Mitchell. Konradi hat die Unterschiede zwischen den beiden Properties gut rausgearbeitet, einen Tunnel unter einem Gletscher werden wir sicher nicht bauen müssen. Andere Fragen zum Mitchell Gletscher, dem Schmelzwasser u.ä. werden aber auch kommen; den Abraum muss man auch irgendwo unterbringen. Daher ist das angekündigte 43-101Preliminary Assessment als folgerichtiger Schritt angekündigt.
Wegen der vielen offenen Fragen sehe ich auch keine nahe Übernahme, wir haben einfach noch viel Arbeit vor uns.
Im Umkehrschluss heißt Galore aber auch, der Bau neuer Minen wird generell so teuer, dass nur wenige in Betrieb werden gehen können, also künftig ein geringeres Angebot mit höheren Preis; Ich bin auch sehr gespannt wie sich die Kosten für Courageous Lake entwickeln. Die Profitabilität wird für solche Projekte wohl erst steigen, wenn sich der Goldpreis vom Ölpreis nach oben abkoppeln kann.

Zu den letzten Bohrergebnissen:
Loch 07/46 war etwas enttäuschend, insgesamt komme ich jetzt auf 24,5 mio Unzen und 4,5 mia lbs Kupfer. Damit sollten auch nach Westen und Süden die Grenzen der höher mineralisierten Bereiche erreicht sein. Trotzdem sind diese "schlechteren" Löcher für das Design der Grube extrem wichtig, solange sie die Aufarbeitung reinspielen, kommen wir tiefer und damit an die besten Werte ran.

Ich habe Mitchell auch mit dem etwa gleichwertigen Cerro Casale Projekt von der ehem Bema und Arizona Star verglichen. Auffällig dort eine Stripp ratio von 2,9:1 (d.h. für eine Tonne aufzuarbeitendes Gestein müssen 2,9 t weggeräumt werden). Mitchell sollte da bisher deutlich günstiger liegen, nach den bekannten 3D Modellen vielleicht bei 1,5:1.
Jede (gut vorstellbare) Erweiterung von Mitchell nach Norden würde diesen Wert aber kräftig nach oben treiben und nur Sinn machen, wenn man weiter in der Tiefe noch bessere Grade findet. Für die Ökonomie des Projektes wesentlich wäre auch das direkt im Osten angrenzende Gebiet, welches teilweise SSRI gehört, aber auch ein kleines Viereck mit einem mir unbekannten Besitzer.
Bald werden auch Kerr und Sulphurets neu durchanalysiert sein und es gibt noch jede Menge Gletschergebiete, die nach und nach freigetaut werden, irgendwo las ich von teilweise 100 m pro Jahr für Gletscher in BC!

Zusätzlich könnte das Projekt durch das Molybdän wachsen - eine hervorragende Nachricht.

[valueinvestor]

Ich lese gerade den TecReport zu Mitchell.
Auf Seite 15 steht, man habe den Arbee Prospect von D. Ross gekauft.
http://sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=000…
Wenn ich die folgende Karte richtig interpretiere, ist das genau das kleine fehlende Viereck östlich Mitchell!
http://www.empr.gov.bc.ca/DL/ArisReports/01006.PDF
hier seite 12!

[valueinvestor]

Der Arbee Prospect ist das fehlende Viereck südöstlich Mitchell. Siehe Präsentation Sea Seite 16.
Ich habe Rudi angemailt, er bestätigte meine Vermutung und freute sich, dass es endlich jemand gemerkt hätte.

[darcon]

Antwort auf Beitrag Nr.: 32.780.565 von valueinvestor am 16.12.07 11:12:23

Moin Value,

ich hatte Dir im Cadero Thread eine Frage gestellt, auf die ich Dich aufmerksam machen wollte, da Du dort oft auf sachlich gestellte Fragen nicht antwortest, vielleicht weil Du sie überliest.

Ich wäre Dir um eine Antwort dort dankbar.

darcon

[michel74]

Antwort auf Beitrag Nr.: 32.762.179 von valueinvestor am 14.12.07 09:57:19

Ich bin noch mit allen Aktien dabei, hatte mir nur eine Pause in der Diskussion gegönnt.

Das Du mehr Zeit hast, Deinen Stuss bei Cardero abzulassen? Peinlich, was Du dort ablieferst! Wie wäre es denn endlich mal zu einem klaren Rating zu Cardero, Du Experte!

Wie ist denn Dein Kursziel zu SEA in 2008? Wie siehst Du das Chance/Risiko Verhältnis? Kann SEA ähnliches wie NG passieren?

[valueinvestor]

noch Fragen?
Kursziel 60+x, Chance/Risiko 90/10, wenn Gold weiter steigt - sonst macht sea keinen Sinn. Klar, NG kann jedem Explorer passieren, der ernsthaft versucht eine Mine zu bauen. Sea wird vorher verkaufen. Cardero wird das allerdings nie passieren, die kommen nicht so weit.

[michel74]

Antwort auf Beitrag Nr.: 32.785.102 von valueinvestor am 16.12.07 19:21:03

Danke! Ich werde zu gegebener Zeit auf Dein Posting zurückkommen. Das Rating zu Cardero hast Du vergessen. Danke!

[meagain]

Antwort auf Beitrag Nr.: 32.785.102 von valueinvestor am 16.12.07 19:21:03

wie kommst du auf ein chance/risiko verhältnis von 90/10?
seabridge ist nach wie vor ein explorer ohne machbarkeitsstudie.ob sie kommt und wann wiess niemand.ob sie von jemandem obernommmen werden,die das nötige geld für die produktion aufbringen werden ebenfalls unbekannt.dazu die unsicherheit seit dem novagold-desaster.
zur zeit bevorzuge ich junior-producer oder near term-producer.
wie auch immer sollte man nie einen zu grossen aktien-anteli auf eine karte setzen.mehr als 10 % depotanteil für seabridge wuerde ich fuer gewagt halten.es gibt genug andere werte um das risiko aufzuteilen.
meine letzten sea habe ich mit schönem gewin vor ein paar wochen verkauft und das geld in viktoria resources investiert.kannst du dir ja mal ansehen.ist allerdings auch ein reiner explorer.
vg
meagain

[valueinvestor]

Antwort auf Beitrag Nr.: 32.785.889 von meagain am 16.12.07 20:47:01

Ich habe 3% meines damaligen Depots in Sea investiert. Zwischendrin habe ich das Depot mal verkleinert, um eine Immobilie zu kaufen, sea habe ich aber behalten. Heute hat sea 30% im Depot. Ich werde doch nicht das beste Pferd im Stall kastrieren, nur weil es so gutläuft.

90/10 deshalb, weil der eigentliche Goldpreisanstieg noch kommt und eine Seabridge Aktie für über 1 Unze Gold stehen wird. Durch den antizyklischen Einstieg hat sea einfach ein hervorragendes Portfolio von low grade deposits.
Schon bei der letztjährigen Bohrsaison konnte man sich etwa ausrechnen, wie viel Gold und Cu es gibt - ich kam auf 11,8 Mio Unzen, rausgekommen sind 13 mio. Der eigentliche Kursanstieg kam erst mit der Resourcenschätzung. Heute schätze ich 24 mio Unzen und 4,5 mia Pfund Kupfer. Mal schauen was der Markt im Februar dazu sagt. Die Hälfte davon wird messured und indicated sein, das bewertet der Markt höher.

[meagain]

Antwort auf Beitrag Nr.: 32.787.671 von valueinvestor am 17.12.07 08:32:46

sicher,bei einem starken goldpreisanstieg würde wohl auch seabridge steigen.allerdings:lange zeit war sea ein gutes investment.
ich könnte mir vorstellen das wir das beste gesehen haben.nach diesem starken anstieg gibt es vieleicht andere explorer die gpnstiger bewertet sind.
auf einen weiteren starken anstieg kann man zwar hoffen,aber das risiko deswegen mit 90/10 zu bewerten halte ich für nicht angemessen.ob wir das hoch bei gold für eine längere zeit gesehen haben muss sich erst noch herausstellen.
vg
meagain
p.s.einige exploerer die mir zur zeit gut gefallen:alexis,eastmain,victoria.ich könnte mir gut vorstellen das diese seas locker outperformen.

[michel74]

Antwort auf Beitrag Nr.: 32.793.939 von meagain am 17.12.07 18:16:24

NG hatte ein Übernahmeangebot vorliegen. Auch die war lange Zeit ein gutes Investment. Wäre es nicht clever gewesen das Angebot anzunehmen?

Sieht wer Parallelen zu SEA?

[valueinvestor]

Antwort auf Beitrag Nr.: 32.793.939 von meagain am 17.12.07 18:16:24

Eine Unze je Aktie - das hat auser Witswatersrand keiner, aber bei denen ists in 2.500 Meter Tiefe.

[michel74]

Antwort auf Beitrag Nr.: 32.795.697 von valueinvestor am 17.12.07 20:39:01

Galore Creek hat einen höheren Wert je Tonne als Mitchell.

[valueinvestor]

Antwort auf Beitrag Nr.: 32.795.766 von michel74 am 17.12.07 20:42:48

Steht in #464. Und?

[meagain]

Antwort auf Beitrag Nr.: 32.798.381 von valueinvestor am 18.12.07 07:47:07

das mag stimmen.aber andere aktien kosten auch nicht 19 euro.wenn,dann musst du die unzen ins verhältnis zur marktkapitalisierung setzen.

[michel74]

!

Dieser Beitrag wurde moderiert. Grund: themenfremder Inhalt

[DCShoes]

Antwort auf Beitrag Nr.: 32.798.494 von michel74 am 18.12.07 08:16:04

verlangt? von Dir? Für solch freundliche Umgangsformen und zu Infos über Cardero gibts nen anderen Thread. Dort findet man auch unzählige "Ratings". Darfst Dir eins aussuchen.

[michel74]

Antwort auf Beitrag Nr.: 32.803.483 von DCShoes am 18.12.07 15:23:01

Bist Du values Sprachrohr? Lies nach, was er dort für ne Show abzieht! Aber festlegen tut er sich nicht - deshalbt "verlangt"!

[derivatus]

!

Dieser Beitrag wurde moderiert.

[DCShoes]

Antwort auf Beitrag Nr.: 32.803.860 von michel74 am 18.12.07 15:39:24

michel74,

Hier sind wir, wie Du sicher festgestellt hast, bei Seabridge.

Ich überfliege den Cardero Thread mangels für mich verwertbarer Infos nur äußerst selten. Wenn Dir an valueinvestors Meinung etwas liegt, dann kannst Du diese hier wie dort zur Genüge nachlesen. Ich denke sie kommt deutlich zum Ausdruck und ein wiederholt eingefordertes "Rating" macht die Cardero auch nicht schlechter oder besser.

Ich vermute aber, Du suchst nicht eine Meinung sondern eine unsachliche Konfrontation mit einem hier sehr geschätzten Forenmitglied.

Such Dir bitte einen anderen Platz um Streit anzuzetteln; hier wirkt das etwas uncool.

DC

[michel74]

Antwort auf Beitrag Nr.: 32.806.664 von DCShoes am 18.12.07 18:48:12

value vor ein paar Monaten:

Ich habe jetzt 87 Quadrate a 100 * 100 ausgezählt und komme - wenn alle die Tiefe von 680 Meter haben auf 32,8 mio Unzen Gold sowie 5.5 mia Pfund Kupfer. Marktwert 45 Milliarden Dollar

value vor ein paar Tagen:

insgesamt komme ich jetzt auf 24,5 mio Unzen und 4,5 mia lbs Kupfer.

@Value - Was denn nun? Verrechnet oder wie erklärst Du Dir das? Pusherei?

Was derivatus und value bei Cardero, Wealth und ITH abziehen bzw. abgezogen haben ist unterste Schublade. Das Du den beiden wiederholt zur Hilfe eilst, ist auch nicht neu.

Was hälst Du davon, was value dort anzettelt?

[michel74]

Antwort auf Beitrag Nr.: 32.805.920 von derivatus am 18.12.07 17:57:47

Mit dem internen Wert meinst Du sicherlich den Inhalt Deines Postings, oder?

Und bitte belege mir doch Deine Aussage - "Cardero eine Aktie ist die u.a. in Deutschland massiv gepusht wird. "

[valueinvestor]

Antwort auf Beitrag Nr.: 32.808.163 von michel74 am 18.12.07 20:45:37

Ganz einfach: Wenn alle Löcher der Kernzone bis zu einer Tiefe von 680 Meter mineralisiert sind, könnten wir 32,8 mio Unzen haben. Da aber nicht alle Löcher auf diese Tiefe getestet sind, werden es vorerst nur 24,5 Mio. Komm schon, das ist doch nicht so schwer zu verstehen. Übrigens hatten wir bei 680 Metern die höchsten bisher gefundenen Grade: 1.58 gpt gold und 0.77% Kupfer.

Wie findest du das?

[DCShoes]

Antwort auf Beitrag Nr.: 32.808.177 von michel74 am 18.12.07 20:47:34

Du springst ja an wie ein Westauto..

Die zwei Herren können sich selbst hervorragend verteidigen. Aber Du sollst wissen, dass hier auch anderen - unter anderem mir - an einer sachlichen Diskussion gelegen ist.

Daher habe ich jetzt zur Abwechslung einmal eine berechtigte Forderung an Dich:

Bitte achte die Meinungen der anderen und freue Dich über soviel freiwillige Recherche, wie das "auszählen" der Bohrergebnisse. Machs besser, wenns Dir nicht gefällt.- punkt.

[michel74]

Antwort auf Beitrag Nr.: 32.808.329 von valueinvestor am 18.12.07 21:02:34

Ich mache mir die Welt, wiediewiediewie sie mir gefällt...

[ralf-norbert]

Antwort auf Beitrag Nr.: 32.808.769 von michel74 am 18.12.07 21:39:25

Noch so ein Beitrag, und Du landest in meinem Laberfilter.

Alles was man für Geld kaufen kann, ist billig!

Ralf-Norbert

[valueinvestor]

here we go!

http://www.marketwatch.com/news/story/seabridges-mitchell-go…

M-07-58 Depth 720.0 4.5 720.0 715.5 0.72 gr/t Au 0.27 % Cu


720 Meter durchgehend mineralisiert! Die Tiefe ist atemberaubend gut. Alle anderen Werte wie zu erwarten, es ist ein sehr homogen mineralisiertes Vorkommen.
Schön für die Ökonomie, dass es jetzt auch einige Löcher am Rand gibt, die im oberen Bereich die höchsten Konzentrationen haben. Wobei der "obere Bereich" dicker ist als manch anderes Vorkommen in Gänze.

The inferred resource defined by the 2006 drill program at Mitchell modeled a continuously mineralized, moderately dipping, roughly tabular gold-copper deposit measuring approximately 1,600 meters along strike, 400 to 700 meters down dip, and at least 300 to 400 meters thick. The 2007 drilling has confirmed that the deposit extends for at least 200 meters in both the up dip and down dip directions, and remains open down dip. In the central area of the deposit, deeper drilling confirms an additional 200 to 400 meters of thickness.

[valueinvestor]

Wir haben ja kritische Mitleser: Daher Korrektur, es sind nur 715,5 Meter.

[derschweizer]

Antwort auf Beitrag Nr.: 32.814.774 von valueinvestor am 19.12.07 14:41:15

Witzbold (Schenkelklopfer)

[valueinvestor]

Das sieht im Chart doch sehr konstruktiv aus. Von Bodenbildung möchte ich gar nicht sprechen, so weit sind wir noch nicht unten gewesen, aber es wird gerade eine nette Zwischendecke eingezogen. Es gab jetzt zuletzt zwei grüne Tage ohne nennenswerte Gegenwehr der Verkäufer. Wie oft wurden in den letzten Wochen zarte Erholungsversuche gnadenlos abverkauft.

[valueinvestor]

Im yahoo board hat keizaigakusha Folgendes herausgefunden:
Seabridge hat sich größere Landpositionen entlang des Highways 37 abgesteckt, die für Mineninfrastruktur vorgesehen zu sein scheinen.
Veröffentlicht wurde dies nicht von sea sondern von Teuton Resources - einer Firma, die sich immer damit brüstet, Landbesitz direkt neben Seas KSM Gebiet zu besitzen.

Quelle: www.teuton.com

[KNORPEL]

[fwinter61]

Der heutige Hotstock Trading Brief von Marc Nitzsche [e-mail] :

Gold nicht zu stoppen - oder doch?

Liebe Trader,

"Nach Golde drängt, am Golde hängt doch alles...". An diesen Ausspruch des Gretchens in Goethes "Faust" fühle ich mich unweigerlich erinnert, wenn ich meinen Blick auf die Entwicklung der Notierungen des "gelben Metalls" in den letzten Wochen und Monaten richte.

Auch wenn ich mich bereits seit längerem zu den absolut überzeugten "Gold-Bullen" zählen kann, will ich nicht verhehlen, dass mich die Dynamik des Kursanstieges doch etwas erstaunt. Ende September prophezeite ich an dieser Stelle Gold-Notierungen von 800 US-Dollar in absehbarer Zeit. Damit lag ich - wie man so schön sagt - "goldrichtig"!

Den gewaltigen nachweihnachtlichen "Kurssprung" von etwa 815 auf aktuell rund 860 US-Dollar habe ich so - da will ich ganz ehrlich sein - nicht vorhergesehen. Offenbar wurde die Stärke des Markts von mir doch ein bisschen unterschätzt. Meinem persönlichen Depot jedoch hat dieser "Irrtum" gut getan und die für Geschenke getätigten Ausgaben (meine Frau hatte an diesem Freitag auch noch Geburtstag) habe ich locker wieder drin.

Auf Grund des jüngsten Kursanstiegs sehe ich mich "genötigt", Sie heute noch einmal mit meiner Einschätzung zu einem meiner erklärten Lieblings-Rohstoffe zu "beglücken", wenngleich sich an den fundamentalen Rahmenbedingungen natürlich in den vergangenen Monaten grundsätzlich nichts geändert hat. Aber zumindest in Teilbereichen ist die Lage mittlerweile doch noch einmal erheblich "bullischer".

*Profiteur des "Inflationsgespensts"

Ich denke da insbesondere an die ausufernde Inflation, die traditionell das Interesse an Gold erhöht. Kürzlich wurde bekannt, dass die Geldentwertung hierzulande 2007 mit 2,2 Prozent so hoch war, wie seit 13 Jahren nicht mehr. Schuld daran sind in erster Linie die steigenden Energie-Kosten (Öl und Strom), sowie anziehende Preise für Nahrungsmittel.

Zumindest Ersteres dürfte sicherlich auch im neuen Jahr unser ständiger Begleiter werden. Am Donnerstag wurde ein Fass Rohöl zum ersten Mal zu Kursen von 100 US-Dollar gehandelt. Postwendend meldete sich das Deutsche Institut für Wirtschaftsforschung zu Wort und prognostizierte langfristig einen Ölpreis von 200 bis 250 US-Dollar, wobei offen gelassen wurde, was unter "langfristig" genau zu verstehen sei.

Ich möchte diesbezüglich keine punktgenauen Kursziele abgeben. Aber eins ist für mich so sicher wie das "Amen in der Kirche": Billiger wird das "schwarze Gold" - wenn überhaupt - nur vorübergehend. Auf Dauer werden die Notierungen weiter anziehen. Und in der Breite sehe ich diese Entwicklung auch bei vielen Agrargütern. Damit ist der Inflation nach wie vor "Tür und Tor" geöffnet. Die Gold-Anleger wird es freuen!

In den USA wird die Geldentwertung zudem noch durch die schwache inländische Währung verstärkt. Zwar konnte sich der "Greenback" zuletzt im Bereich knapp unter 1,50 Euro stabilisieren und ich erwarte kurzfristig auch keinen weiteren Druck auf die US-Valuta. Aber eine "Renaissance" des Dollars sehe ich wenigstens in den nächsten Monaten ebenso wenig. Das jedoch ist auch gar nicht notwendig. Denn das gegenwärtige Niveau leistet der Inflation mehr als genügend Vorschub.

*Verstärkt im Fokus von Investoren

In Anbetracht dieses Umfeldes und der satten Kurs-Zuwächse beim "Metall der Könige" verwundert es nicht, dass Gold in den zurückliegenden Jahren verstärkt in den Fokus von Investoren geriet. Hiervon zeugen unter anderem die unzähligen Exchange Traded Funds (ETF), die auf das "gelbe Metall" aufgelegt wurden.

Da diese Anlage-Produkte mit physischem Gold unterlegt sein müssen, wird dem Markt auf diese Weise eine beträchtliche Menge des Edelmetalls entzogen. Dadurch wird die ohnehin angespannte Angebot/Nachfrage-Situation zusätzlich verschärft.

In letzter Zeit ist es zwar vergleichsweise ruhig um die ETFs geworden. Wahrscheinlich ist der Markt etwas gesättigt. Dafür aber geriet Gold zunehmend ins "Fadenkreuz" von Spekulanten. Längerfristig mag dieser Umstand für die Kursentwicklung nicht unbedingt positiv sein. Kurzfristig allerdings haben die Fonds auf jeden Fall die Möglichkeit, die Notierungen in vierstellige Regionen zu "hieven".

*Wachsende Nachfrage aus Schwellenländern

Eine deutlich wachsende Nachfrage nach dem "gelben Metall" ist darüber hinaus aus Schwellenländern zu verzeichnen. So herrscht beispielsweise bei der chinesischen Notenbank (wobei China eigentlich eher eine Wirtschafts-Großmacht als ein Emerging Market ist) richtiggehender "Anlage-Notstand".

Die gewaltigen Devisen-Reserven wurden bislang vornehmlich in US-Dollar-Anleihen investiert. An diesen hatte man jedoch trotz der vergleichsweise hohen Zins-Kupons keine rechte Freude, weil die Währungsverluste die Rendite vollständig auffraßen. Deshalb denkt man im "Reich der Mitte" bereits seit längerem laut darüber nach, einen Teil in Gold umzuschichten. Folgen diesen Worten Taten, wird das die Gold-Nachfrage nochmals beträchtlich anheizen.

Im Zusammenhang mit Schwellenländern möchte ich nicht versäumen, auf einen weiteren "bullischen" Faktor für das "Metall der Könige" hinzuweisen. In vielen arabischen Staaten und insbesondere in Indien hat Gold einen enormen gesellschaftlichen Stellenwert. Mit steigendem Lebensstandard der dortigen Bevölkerung wächst somit auch die "Lust auf Goldschmuck" in beträchtlichem Maße. Da es sich hierbei um ein kulturelles Phänomen handelt, wird sich an diesem Trend auf absehbare Zeit nichts ändern.

In vielen der genannten Staaten befindet sich der wirtschaftliche Aufschwung noch vergleichsweise in den "Kinderschuhen", so dass die Nachfrage nach physischem Gold zur Schmuckverarbeitung dauerhaft eine solide Unterstützung erfahren dürfte, zumal ich in Ländern wie Indien selbst im Fall einer globalen wirtschaftlichen Abkühlung noch mit weit überdurchschnittlichen Zuwachsraten rechne.

Die Tatsache, dass rund 70 Prozent des zur Verfügung stehenden Goldes der Herstellung von Schmuck dienen, ist auch einer der Hauptgründe, warum ich dem "gelben Metall" von allen Edelmetallen das größte Aufwärtspotenzial zubillige. Die primär industriell genutzten Metalle wie Silber, Platin oder Palladium dürften unter einer "Konjunktur-Delle" weitaus stärker leiden, als mein Favorit unter den Edelmetallen.

*Strukturelle Probleme auf der Angebotsseite

Auch von der Angebotsseite drohen meiner Einschätzung nach keine ernsthaften Gefahren für die "Gold-Hausse". Immerhin leidet der Markt unter nachhaltigen strukturellen Problemen, die es fast unmöglich machen, den Output kurzfristig auszuweiten und die Notenbanken halten sich dank der nicht enden wollenden "Rallye" mit Verkäufen stark zurück.

In den beiden traditionell größten Förderländern USA und Südafrika wurden in den Zeiten der niedrigen Weltmarktpreise nahezu alle billig abbaubaren Vorkommen vollständig ausgebeutet. Die mittlerweile noch vorhandenen Ressourcen befinden sich in so großen Tiefen, dass sie selbst zu den aktuellen Gold-Kursen oft nicht rentabel gefördert werden können. Das ist einer der Gründe, warum die Produktionsmenge trotz der gestiegenen Gold-Notierungen nicht nennenswert gesteigert werden konnte.

Hinzu kommt - wieder einmal - der schwache US-Dollar. In Südafrika, Kanada, Australien und anderen außeramerikanischen Förderländern fallen die Kosten in der Heimatwährung an, wohingegen die Erträge in US-Dollar generiert werden. Bei einer erkennbaren Abwertung des "Greenbacks" geraten die dortigen Unternehmen schnell in die wirtschaftliche Bredouille und verzichten dann lieber auf den Abbau.

Dessen ungeachtet möchte ich nicht bestreiten, dass das Angebot auf Sicht von mehreren Jahren durchaus zunehmen dürfte. Spätestens seit 2004/05 investieren Unternehmen wieder verstärkt in die Exploration neuer Vorkommen. Oftmals liegen diese in Staaten, die bisher kaum Gold gefördert haben. Häufig befinden sich die neu identifizierten Reserven recht nah an der Erdoberfläche, wodurch der Abbau kostengünstig möglich ist.

Da es allerdings erfahrungsgemäß mindestens fünf Jahre dauert, bis eine Liegenschaft in Produktion gehen kann, rechne ich frühestens ab 2009 (eher sogar ab 2010) mit einem bedeutsamen Anstieg der Minen-Produktion. Die nächsten 18 Monate dürften daher noch den "Gold-Bullen" gehören und mittlerweile gehe ich mit einer hohen Wahrscheinlichkeit davon aus, dass wir in 2008 vierstellige Notierungen sehen werden.

[fwinter61]

Antwort auf Beitrag Nr.: 32.962.549 von fwinter61 am 06.01.08 22:16:56

*Seabridge Gold: Nach Korrektur bald neue Höchststände?

Wer Mitte 2005 Aktien von Seabridge Gold erwarb, kann sich heute über einen Kurs-Zuwachs von sage und schreibe mehr als 1.000 Prozent freuen. Damit hat es das Papier innerhalb von nur zweieinhalb Jahren geschafft, sich einen Platz im erlauchten Kreis der "Ten-Bagger" zu sichern.

Bis Mitte 2007 stiegen die Notierungen fast wie am "Schnürchen" gezogen und ohne erwähnenswerte Rücksetzer an. Seither hat die Volatilität erkennbar zugenommen, was ich als Zeichen einer gewissen Nervosität auf dem jetzt erreichten Niveau werte.

Nichtsdestotrotz ist der Wert vor dem Hintergrund der bemerkenswerten Performance in jedem Fall einen näheren Blick in unserer Publikation wert. Immerhin trifft die Bezeichnung "Hotstock" auf kaum eine Aktie besser zu, als auf Seabridge Gold. Und genau deshalb will ich das Papier in der heutigen Ausgabe "unter die Lupe" nehmen und Ihnen sagen, ob nach der kürzlich erfolgten Korrektur bereits in Bälde mit neuen Höchstständen zu rechnen ist.



2.) Seabridge Gold: Nach 1.000 Prozent Plus noch kaufen?

Vom Unglück anderer zu profitieren, gilt nicht unbedingt als "feine englische Art", ist aber im Geschäftsleben weit verbreitet. Und letztlich bieten gerade solche Situationen manchmal gewaltige Möglichkeiten. Erkannt haben das zum Ende des zweiten Jahrtausends die Verantwortlichen des Gold-Unternehmens mit Sitz in Toronto.

*Geniales Geschäftsmodell

Als die Gold-Notierungen am Boden lagen und viele Minen-Gesellschaften ums Überleben kämpften, erwarb das Seabridge-Management schrittweise beträchtliche Ressourcen des "gelben Metalls" sprichwörtlich für "einen Appel und ein Ei". Mittlerweile verfügt man bei einer Marktkapitalisierung von rund 800 Millionen Euro über mindestens 17 Millionen Unzen.

Das jüngste Bohr-Programm auf dem Mitchell-Projekt verlief sehr viel versprechend, so dass Experten nunmehr von Vorkommen in einer Größenordnung von 24,5 Millionen Unzen Gold und 4,5 Milliarden Pfund Kupfer ausgehen. Trotz des für einen Explorer augenscheinlich hohen Kurses ist die Bewertung damit außerordentlich günstig.

Mit der mehr als üppigen "Mitgift" befindet sich das Unternehmen jetzt auf "Brautschau". Finanzstarke Partner sollen die gerade für kleine "Player" wie Seabridge kostspielige Produktion übernehmen. Dieses Geschäftsmodell kann man ohne Übertreibung als schlichtweg genial bezeichnen.

*Nicht ohne Risiken

Wenngleich durch die Vorgehensweise die Risiken überschaubar bleiben, ist die Aktie sicherlich nichts für über alle Maßen ängstliche Anleger. Ungeachtet der ansehnlichen Vorkommen darf man nämlich nicht vergessen, dass bislang keine Machbarkeitsstudien vorliegen und auch die Partnersuche bisher nicht von Erfolg gekrönt war.

Auch lässt sich nicht leugnen, dass das "Wohl und Wehe" der Seabridge-Aktie entscheidend von der weiteren Entwicklung des Goldpreises ist. Das Papier weist einen beachtlichen Hebel auf die Notierungen des "Metalls der Könige" auf. Geht es mit diesen weiter aufwärts und bleiben Rückschläge wie zuletzt bei NovaGold Resources aus, hat die Aktie auch auf dem aktuellen Niveau noch ansehnliches Aufwärtspotenzial.

Sollte der Gold-Kurs hingegen deutlich nachgeben, muss mit überproportionalen Verlusten gerechnet werden, da der Hebel bekanntlich auch nach unten wirkt. Vorteilhaft ist allerdings, dass es keine politischen Risiken gibt, weil sich sämtliche Projekte in Nordamerika befinden.

MEIN FAZIT:

Die sehr hohen Reserven und das besondere Geschäftsmodell führen zu einer hohen Hebelwirkung auf den Goldpreis und machen die Aktie damit quasi zu einem Gold-Optionsschein ohne Verfallstermin.

+ Hohe nachgewiesene Vorkommen
+ Produktionskosten werden weitergereicht
+ Keine politischen Risiken
+ Günstige Bewertung

- Operative Rückschläge nicht auszuschließen
- Hohe Abhängigkeit von der Entwicklung des Goldpreises
- Produktionsbeginn noch nicht absehbar

WKN 541875
Börsenwert 803 Mio. EUR
KGV 08 (e) n.a.
Akt. Kurs 22,50 EUR / 31,75 USD

[valueinvestor]

Wenn Experten zu haargenau den selben hochgerechneten Resourcen für Mitchell kommen, dann liege ich mit meiner identischen Schätzung vielleicht nicht so weit daneben? .
Meine Schätzung dürfte sehr konservativ sein, da ich nur die Ausweitung in die Tiefe, nach Nord und nach Süd einbezogen habe (anhand zweier cross-sections in der Präsentation). Im Osten und vor allem Westen gab es aber auch noch Löcher mit Werten oberhalb des cut offs, was für das pit design sicher hilfreich ist.

[valueinvestor]

news out:

Die Resourcenschätzung für Kerr und Sulphurets sind da.

3,45 Millionen Unzen indicated und 1 mio inferred Gold
2,4 mia Pfund indicated und 653 mio inferred Kupfer


http://www.seabridgegold.net/NJan10_08.htm