Seabridge Gold presented information on its KSM project in Canada. KSM is one of the largest undeveloped gold and copper projects in the world, with over 44 million ounces of gold reserves and over 10 billion pounds of copper reserves. A preliminary feasibility study showed a large, long-life mine plan with strong economics, including an 11.5% IRR at base case metal prices. KSM is located in a mining-friendly jurisdiction in Canada, has received environmental assessment approval, and Seabridge has been working closely with local First Nations on impact agreements. The project has significant exploration upside and benefits from low political risk and favorable logistics in Canada.
The Prospectors and Developers Association of Canada (PDAC) represents the interests of the Canadian mineral exploration and development industry.
Since 1932, it has held a four-day annual Convention in Toronto, Canada.
Sierra Metals Inc. (formerly Dia Bras Exploration Inc.) is Latin America's newest mid-tier precious and base metals producer and offers a strong value proposition to investors based on:
1) Undervalued vs. Peers: Low cash cost producer with strong upside potential for growth.
2) A Solid Financial Position: Strong positive cash flow with $80 million in the treasury and $83 million in earnings during 2012.
3) Diversified Asset Base: Precious and base metals producer with three operating mines in Peru and Mexico.
4) Substantial Reserve Growth: Expanded Reserves 8x in two years; and, 30% annual production growth in 2012.
5) Stable Investment Yield: $10 million annual dividend plus share buyback program.
Sierra Metals Inc. is a growing mid-tier precious and base metals producer in Latin America. The Company owns two low-cost mines in commercial production: the Yauricocha mine in Peru and the Bolivar mine in Mexico.
Sierra Metals Inc., formerly known as Dia Bras Exploration Inc., began exploration and development work in Mexico in early 2003. In 2004, the Company acquired the Bolivar mine property and began active development to advance the property towards production. In 2006, a rapid expansion into the Cusihuiriachic (“Cusi”) silver district resulted in the Company acquiring a 100 km2 property encompassing 12 former silver mines situated within a close proximity to the wholly owned Malpaso Mill. From 2006 to 2011 the Company shipped high-grade development ore for custom milling to the Malpasso Mill from the Bolivar project. Starting in 2009 the Company also started producing silver dore at the Malpaso Mill from development ore at the Cusi project.
In the spring of 2011, the Company expanded operations into Peru with the purchase of 82% of Sociedad Minera Corona S.A. (“Corona”) for a total purchase price of $286 million. Corona’s main asset is the Yauricocha mine in the Yauyos province in western central Peru. This purchase dramatically changed the production profile of Sierra Metals and excelled the Company from a junior exploration and development company to a mid-tier precious and base metals producer.
This rapid expansion in Peru was followed by the completion of the Piedras Verdes mill in Mexico and the announcement of commercial production at the Bolivar mine. Located 6 km from the Bolivar mine, the Piedras Verdes mill has a throughput capacity of 1,000 tpd with plans to expand to 2,000 tpd by mid-2013.
Sierra Metals is currently focused on expanding production at its Yauricocha and Bolivar mines and advancing its Cusi Property into commercial production. Additionally, the Company is completing an aggressive exploration and development programme to expand global reserves and resources and advance its pipeline of projects towards to production.
The Prospectors and Developers Association of Canada (PDAC) represents the interests of the Canadian mineral exploration and development industry.
Since 1932, it has held a four-day annual Convention in Toronto, Canada.
Sierra Metals Inc. (formerly Dia Bras Exploration Inc.) is Latin America's newest mid-tier precious and base metals producer and offers a strong value proposition to investors based on:
1) Undervalued vs. Peers: Low cash cost producer with strong upside potential for growth.
2) A Solid Financial Position: Strong positive cash flow with $80 million in the treasury and $83 million in earnings during 2012.
3) Diversified Asset Base: Precious and base metals producer with three operating mines in Peru and Mexico.
4) Substantial Reserve Growth: Expanded Reserves 8x in two years; and, 30% annual production growth in 2012.
5) Stable Investment Yield: $10 million annual dividend plus share buyback program.
Sierra Metals Inc. is a growing mid-tier precious and base metals producer in Latin America. The Company owns two low-cost mines in commercial production: the Yauricocha mine in Peru and the Bolivar mine in Mexico.
Sierra Metals Inc., formerly known as Dia Bras Exploration Inc., began exploration and development work in Mexico in early 2003. In 2004, the Company acquired the Bolivar mine property and began active development to advance the property towards production. In 2006, a rapid expansion into the Cusihuiriachic (“Cusi”) silver district resulted in the Company acquiring a 100 km2 property encompassing 12 former silver mines situated within a close proximity to the wholly owned Malpaso Mill. From 2006 to 2011 the Company shipped high-grade development ore for custom milling to the Malpasso Mill from the Bolivar project. Starting in 2009 the Company also started producing silver dore at the Malpaso Mill from development ore at the Cusi project.
In the spring of 2011, the Company expanded operations into Peru with the purchase of 82% of Sociedad Minera Corona S.A. (“Corona”) for a total purchase price of $286 million. Corona’s main asset is the Yauricocha mine in the Yauyos province in western central Peru. This purchase dramatically changed the production profile of Sierra Metals and excelled the Company from a junior exploration and development company to a mid-tier precious and base metals producer.
This rapid expansion in Peru was followed by the completion of the Piedras Verdes mill in Mexico and the announcement of commercial production at the Bolivar mine. Located 6 km from the Bolivar mine, the Piedras Verdes mill has a throughput capacity of 1,000 tpd with plans to expand to 2,000 tpd by mid-2013.
Sierra Metals is currently focused on expanding production at its Yauricocha and Bolivar mines and advancing its Cusi Property into commercial production. Additionally, the Company is completing an aggressive exploration and development programme to expand global reserves and resources and advance its pipeline of projects towards to production.
Ugo and Sara Colombo - Haute 100 - Haute Living April/May 2013Ugo Colombo
Sara and Ugo Colombo were recently named one of Miami's Haute 100 in the Power Couple category.
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Klondike Silver will be attending the Swiss Mining Institute Conference in Geneva & Zurich, Switzerland, November 23 & 24.
Klondike Silver attended the Minerals South 2017 event in Cranbrook, B.C, November 7 & 8.
Klondike Silver Corp. is led by a team with a proven track record of discovery and development in Canada. Most notably, the Belmoral Mine in Quebec and the Hemlo Mine in Ontario are considered to be their biggest finds.
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
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Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
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The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
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Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
Neuro-symbolic is not enough, we need neuro-*semantic*Frank van Harmelen
Neuro-symbolic (NeSy) AI is on the rise. However, simply machine learning on just any symbolic structure is not sufficient to really harvest the gains of NeSy. These will only be gained when the symbolic structures have an actual semantics. I give an operational definition of semantics as “predictable inference”.
All of this illustrated with link prediction over knowledge graphs, but the argument is general.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
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Connector Corner: Automate dynamic content and events by pushing a buttonDianaGray10
Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
Join us to learn more about this new, human-in-the-loop capability, brought to you by Integration Service connectors.
And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
Generating a custom Ruby SDK for your web service or Rails API using Smithyg2nightmarescribd
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• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
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LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
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Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
Securing your Kubernetes cluster_ a step-by-step guide to success !KatiaHIMEUR1
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However, this ease of use means that the subject of security in Kubernetes is often left for later, or even neglected. This exposes companies to significant risks.
In this talk, I'll show you step-by-step how to secure your Kubernetes cluster for greater peace of mind and reliability.
2. Forward Looking Statements
All reserve and resource estimates reported by the Company 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, 2012 and in the Company’s Annual Report
Form 40-F filed with the U.S. Securities and Exchange Commission on EDGAR (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.
SEABRIDGE GOLD
2
3. The Case for Seabridge
Proven and
Probable Reserves
• 44.7M oz Au
• 10B lbs Cu
Low Share Dilution
• 45.6M shares outstanding
Low Valuation
Low Political Risk
Exploration Upside
SEABRIDGE GOLD
• $10 enterprise value per ounce of gold reserves
• All reserves are located in Canada
• New discoveries could add significant higher
grade reserves to improve project economics
3
4. Gold Reserves
Reserves rank Seabridge among world’s top ten gold companies
Gold Reserves (M oz)
150
120
90
45M oz
60
30
Alamos
AuRico
New Gold
Buenaventura
Polymetal
Osisko
Gabriel
Allied Nevada
Detour
Agnico-Eagle
NovaGold
Yamana
Seabridge
Kinross
Goldcorp
Anglogold
Polyus
Newcrest
Newmont
Barrick
-
Source: Company data. Data as of October 29th, 2013.
Note: Companies shown include North America’s largest gold companies and selected gold project development companies.
SEABRIDGE GOLD
4
5. Low Share Dilution
Gold Reserves per Common Share
Seabridge ranks 1st in reserves/share among leading gold companies
1.20
0.98 oz/share
1.00
0.80
0.60
0.40
0.20
New Gold
Alamos
Osisko
Polymetal
Gabriel
Polyus
AuRico
Yamana
Buenaventura
Kinross
NovaGold
Goldcorp
Agnico-Eagle
Detour
Newcrest
Allied Nevada
Barrick
Anglogold
Newmont
Seabridge
-
Source: Bloomberg, Company data. Data as of October 29th, 2013.
Note: Companies shown include North America’s largest gold companies and selected gold project development companies.
SEABRIDGE GOLD
5
6. Low Share Dilution (cont.)
Resources have grown more than 10x faster than shares outstanding
80
80
70
70
60
60
50
50
40
40
30
30
20
20
10
Ounces of Gold (Millions)
90
10
-
Shares Outstanding (Millions)
90
2003
2004
Proven & Probable Gold Reserves
2005
2006
2007
2008
Measured & Indicated Gold Resources
2009
2010
2011
Inferred Gold Resources
2012
Common Shares Outstanding
Source: Company data. Data as of October 29th, 2013.
Note: For a breakdown of Seabridge’s mineral reserves and resources by project, tonnes and grade, please visit http://seabridgegold.net/resources.php
SEABRIDGE GOLD
6
7. Attractive Valuation
Enterprise Value per Reserve oz
Seabridge has a very low enterprise value per ounce of gold reserves
$750
$600
$450
$300
$10/oz
$150
Seabridge
Allied Nevada
Gabriel
NovaGold
Detour
Anglogold
Polyus
Kinross
Newcrest
AuRico
Newmont
Osisko
Barrick
Agnico-Eagle
Goldcorp
Yamana
Buenaventura
New Gold
Polymetal
Alamos
-
Source: Company data. Data as of October 29th, 2013.
(1) Enterprise Value calculated as market capitalization (basic) plus net debt and minority interest
Note: Companies shown include North America’s largest gold companies and selected gold project development companies
SEABRIDGE GOLD
7
8. Low Political Risk
Where would you rather be?
Peru
Argentina
Ecuador
Indonesia
Chile
Canada
SEABRIDGE GOLD
• Illegal strikes and local opposition delay approved projects (Conga, Santa
Anna, Tintaya)
• Open pit mining and use of cyanide banned in certain areas
• 100% tax on export earnings for some resource projects (Famatina, San Jose)
• Increased taxes and royalties (Fruta del Norte)
• Creeping expropriation through imposed local and government ownership
(Batu Hiju, Grassberg, Tujuh Bukit)
• Increased royalty structure and challenging power supply issues (all projects)
• Local opposition delays approved projects (El Morro, Pascua-Lama)
• Stable regulatory and tax regime
8
9. Kerr, Sulphurets and Mitchell
• Kerr, Sulphurets and Mitchell
•
•
•
•
•
•
(“KSM”), is the world’s largest
undeveloped gold/copper project
(by reserves)
Located in “mining friendly” British
Columbia near past producers
Highly favorable logistics
Estimated cash costs and total
costs well below current industry
averages
Base Case exhibits outstanding
capital efficiency
Environmental Assessment
approval expected mid 2014
Nearing completion of Impact
Benefit Agreement with key Treaty
Nation
SEABRIDGE GOLD
9
10. 0
40
40 40
40
20 20
20
10
-
-- -
Source: Company data.
SEABRIDGE GOLD
Au Au Reserves Cu Cu Reserves
Au
Reserves
Cu Reserves
Reserves
Cu Reserves
12
10
30 30
30
8
20
6
4
-
10 10
10
10 10
10
8
88 8
6
66 6
4
44 4
2
Cu Reserves (B lbs)
Cu Reserves (B lbs)
Cu Reserves (B lbs)
Cu Reserves (B lbs)
0
KSM
Pueblo Viejo
KSM
KSM
KSM
Donlin
Cerro Casale
Donlin
Donlin
Donlin
Pueblo Viejo
Boddington
Pueblo Viejo
Pueblo Viejo
Pueblo Viejo
Cerro Casale
Caspiche
Cerro Casale
Cerro Casale
Cerro Casale
Boddington
Pascua-Lama
Boddington
Boddington
Boddington
Caspiche
Penasquito
Caspiche
Caspiche
Caspiche
Pascua-Lama
Conga
Pascua-Lama
Pascua-Lama
Pascua-Lama
Penasquito
Telfer
Penasquito
Penasquito
Penasquito
Conga
Morro
ElConga
Conga
Conga
Telfer
Agua Rica
Telfer
Telfer
Telfer
El Morro
Galore Creek
El Morro
El Morro
El Morro
Agua Rica
Agua Rica
Agua Rica
Agua Rica
Galore Creek
Galore Creek
Galore Creek
Galore Creek
0
Donlin
30
Au Reserves (M oz)
Au Reserves (M oz)
Au Reserves (M oz)
Au Reserves (M oz)
0
Au Reserves
Cu Reserves (B lbs)
KSM
KSM is World Class!
KSM is a World Class Gold-Copper Project
12
12 12
12
10
2
22 2
-
-- -
10
14. KSM – Preliminary Feasibility Study
The PFS projects a large, long-life mine
Unit
Years 1-7
LOM 55-Year Plan
Average Grades:
Gold
gpt
0.79
0.55
Copper
%
0.23
0.21
Silver
gpt
2.39
2.74
Molybdenum
ppm
46.2
44.8
851,000
508,000
Average Annual Production:
Gold
oz
Copper
M lbs
195
147
Silver
M oz
2.1
2.2
Molybdenum
M lbs
1.3
1.1
SEABRIDGE GOLD
14
15. KSM – PFS Pre-Tax Summary
50+ year mine plan
Unit
Base
Case
Alternate
Initial Capital Cost
$M
$5,300
$5,300
$5,300
Net Cash Flow
$M
$20,500
$16,800
$31,200
NPV @ 5%
$M
$4,500
$3,500
$7,700
Internal Rate of Return
%
11.5%
10.4%
14.7%
Payback Period
years
6.2
6.7
5.2
Operating Costs (LOM)
$/oz Au
$141
$263
$60
Total Costs (includes all capital)
$/oz Au
$598
$720
$535
May 2012 Spot
Metal Prices:
Gold
$/oz
$1,330
$1,320
$1,650
Copper
$/lb
$3.45
$3.00
$3.75
Silver
$/oz
$25.20
$25.60
$32.00
Molybdenum
$/lb
$15.00
$15.00
$15.00
0.96x
0.96x
1.00x
US$/Cdn$ Exchange Rate
-
Note: For Operating and Total Costs, copper, silver and molybdenum revenues are taken as a by-product credits.
SEABRIDGE GOLD
15
17. KSM Working Group Meetings
Since 2008 Seabridge has been engaged with a working group consisting
of Treaty and First Nations and Canadian and U.S. Regulators
SEABRIDGE GOLD
17
18. Earning our Social License
Treaty/First
Nation Support
• Seabridge has reached an agreement in
principle on key elements of Benefits
Agreement with the Nisga’a Nation
Employment
Training
• Seabridge continues to support the training of
the local labour force
Local
Community
Support
• Seabridge has received the support of the
Mayor and Councils of Smithers and Terrace
for the development of the KSM Project
SEABRIDGE GOLD
18
19. Support of Treaty and First Nations
NISGA'A NATION AND SEABRIDGE GOLD CONFIRM
AGREEMENT IN PRINCIPLE ON KEY ELEMENTS OF KSM
BENEFITS AGREEMENT
August 2013
"Seabridge has demonstrated a real willingness to assist the
Nisga'a Nation in creating genuine economic opportunities for, and
building the capacity of, Nisga'a citizens, [and] we look forward to
continuing our participation in the environmental assessment
process for the KSM Project.“
- Mitchell Stevens, President of the Nisga’a Nation
SEABRIDGE GOLD
19
20. Gitxsan Summit
Seabridge continues to meet with and inform Treaty and First Nations
on the local benefits that will be derived from the KSM Project.
SEABRIDGE GOLD
20
21. Employment Training
Seabridge continues to support employment training within local
communities for job skills that will be required at KSM
SEABRIDGE GOLD
21
22. Terrace Open House
Open and continued dialogue has resulted in the endorsement of
Seabridge and KSM by local communities
SEABRIDGE GOLD
22
24. N
KERR ZONE
Plan View and
Cross Section Index
31 Oct. 2013
K-13-34
A
A’
K-13-31
K-13-24
Conceptual
Pit Limits
(Mar. 2012)
Hole trace
histograms
Hole trace histograms:
Red = Au assays
Green = Cu assays
400m
SEABRIDGE GOLD
S
24
30. Courageous Lake
• At 6.5M oz, Courageous Lake (“CL”) is
Canada’s 2nd largest undeveloped
gold reserve (KSM is 1st)
• Excellent open pit grade of 2.2 gpt Au
– More than twice the grade of Osisko and
Detour Gold’s new mines
• Recently completed Preliminary
Feasibility Study shows viable project
with exceptional leverage to higher gold
prices
• Wholly owned 53 km greenstone belt
provides excellent exploration potential
• Located in Northwest Territories within
100 km of Diavik and Ekati, two large
operating open pit diamond mines
SEABRIDGE GOLD
30
31. Courageous Lake – Project Location
• Project located on winter ice road,
in close proximity to the Diavik
and Ekati mines
– Demonstrating that year round
open pit bulk tonnage operations
are feasible
• Nearby mines provide “real-time”
estimates for capital and
operating costs
– Additionally, with mines scheduled
to close over the next several
years, a local and trained
workforce will be readily available
SEABRIDGE GOLD
31
32. Courageous Lake – 2012 PFS (July 2012)
Exceptional leverage to gold price
Case
Unit
Base
Alternate
Gold Price
$/oz
$1,384
$1,925
Initial Capital Cost
$M
$1,520
$1,520
Mine Life
years
15.0
15.0
Average Annual Gold Production
ounces
385,000
385,000
Net Cash Flow
$M
$1,507
$4,519
NPV @ 5%
$M
$303
$2,080
Internal Rate of Return
%
7.3%
18.7%
Payback Period
years
11.2
4.0
Operating Costs (years 1-5)
$/oz Au
$674
$689
Operating Costs (LOM)
$/oz Au
$780
$796
Total Costs (includes all capital)
$/oz Au
$1,123
$1,141
US$/Cdn$ Exchange Rate
-
0.98x
0.99x
SEABRIDGE GOLD
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33. CL – Value Enhancing Opportunities
Improve Capital
and Operating
Costs
• Access to hydro-electric generated power
• Examine year round road access
opportunities
Higher
Grades
• Exploring for higher grade material that could
be exploited in the early years of production
• History of high grade production along belt
Additional
Deposits
• Exploring for additional bulk mineable
deposits that could extend project life beyond
the current 15 year estimate
SEABRIDGE GOLD
33
34. Courageous Lake – Exploration Potential
• Existing 6.5M oz reserve covers only
2 km of an under explored
greenstone belt that stretches 53 km
– Owned 100% by Seabridge
• Two former producing mines on belt
(Salmita and Tundra) had average
grades of ~1 opt Au (30 gpt)
• Seabridge now exploring for
additional deposits that could extend
the estimated 15 year mine life
– With potentially higher grades
mined in early years
SEABRIDGE GOLD
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36. Catalysts for Success
Joint Ventures
Exploration Success
EA/EIS Approval
• Advancing through
environmental
approval and
permitting process
• Approval expected
mid 2014
SEABRIDGE GOLD
• Pursuing exploration
opportunities that will
improve project
economics
• $24M committed for
exploration drilling and
ultimately increase
resources
• Projects being de-risked to
drive joint venture terms
• IBA negotiations
proceeding with Treaty and
First Nations
• Transactions dependent on
improved market conditions
36
37. Corporate Information
Listings
• NYSE: SA
• TSX: SEA
• Included in GDXJ
Share Structure
• 45.6M shares outstanding
• 48.0M fully diluted
Balance Sheet
• No debt
• More than C$15M in cash
Management and Board
Financial Institutions
Strategic Investors
SEABRIDGE GOLD
• Interests are aligned with shareholders
• Insiders own over 30% of common shares
• Own ~35% of common shares
• Investors include Friedberg Mercantile, Royce, Van Eck, Weiss
• Royal Gold (holds option to acquire NSR at KSM for $160 million in cash)
37
38. Experienced Management
Rudi Fronk
Co-Founder, Chairman & CEO
Jay Layman
Director, President & COO
Bill Threlkeld
Senior VP, Exploration
Peter Williams
Senior VP, Technical Services
Christopher Reynolds
VP, CFO
Brent Murphy
VP, Environmental Affairs
Bruce Scott
VP, Corporate Affairs
SEABRIDGE GOLD
• Has over 30 years of experience in the gold business, primarily as a senior officer and director of publicly
traded companies including Greenstone Resources, Columbia Resources, Behre Dolbear & Company,
Riverside Associates, Phibro-Salomon, Amax, and DRX
• Over 30 years of experience in the mining sector and responsible for designing and managing the technical
programs required to advance Seabridge's two main assets towards feasibility
• Former Vice President of Solutions and Innovation for Newmont Mining Company
• Over 30 years of exploration experience and is responsible for the design and execution of Seabridge’s
exploration and resource delineation programs
• Previously served as Exploration Manager and Vice President with Placer Dome
• Over 30 years of experience in mine engineering, design, strategic analysis and start-up
• Formerly a Group Executive, Mine Engineering at Newmont Mining Corporation
• Has 20 years of mining industry and public accounting experience and has been a CGA since 1994
• Currently a director of Paramount Gold and Silver
• With over 25 years of experience, Mr. Murphy is responsible for developing and managing Seabridge's
environmental programs and community engagement strategies
• Has practiced law in the areas of corporate finance and securities, corporate and mining since 1993 and has
been counsel to Seabridge Gold since 1999
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39. Board of Directors
James Anthony
Co-Founder
• Founded Seabridge in 1999 and served as Chairman of the Board from 2002-2012
• Former advisor to a number of major corporations and venture capitalists focusing primarily on corporate
strategy, and was a policy consultant to several government ministries
Frederick Banfield
• Founder and Chairman of Mintec, Inc. and one of the original developers of MineSight™, recognized as
the pre-eminent reserves modeling and mine design software system with more than 300
installations worldwide
Scott Barr
• Over 45 years of mining related experience, predominately in senior technical project management and
operational roles, including Newmont and Freeport
Thomas Dawson
Chairman of Audit and
Nomination Committees
Louis Fox
Eliseo Gonzalez-Urien
SEABRIDGE GOLD
• Over 40 years of accounting experience including senior audit partner with Deloitte Touche
• Over 25 years experience in precious metals trading, merchanting and merchant banking activities
including J. Aron & Co,, Goldman Sachs and Gerald Metals
• With over 30 years of experience, Mr. Gonzalez-Urien is one of the most highly regarded exploration
geologists in the mining industry. Ran global exploration for Placer Dome from 1989 through 2001
39