TSX: SEA
NYSE: SA
March 26, 2013
Seabridge Gold Files 2012 Year End Audited Financial Statements and MD&A
Toronto, Canada.Seabridge Gold Inc. announced today that it has filed its Audited Consolidated Financial Statements and its Management's Discussion and Analysis for the year ended December 31, 2012 on SEDAR (www.sedar.com). To review these documents on the Company's website, please see:
http://www.seabridgegold.net/sharefinrep.php.
The Company reported a net loss for the year ended December 31, 2012 of $12.5 million or $0.29 per share compared to a net loss of $20.1 million or $0.48 per share for 2011. The main expenses contributing to the losses in 2012 were corporate and administrative costs, the impairment of marketable securities and deferred income tax expense. Counteracting the net loss was the recognition of other income relating to the flow-through financings completed in 2011 and late 2012.
During the year ended December 31, 2012, the Company incurred mineral property expenditures of $48.8 million, an increase of $7.5 million over 2011 when the Company spent $41.3 million. In both 2012 and 2011, virtually all of the expenditures were on KSM, amounting to $33.1 million (2011- $27.6 million), and on Courageous Lake where $15.6 million was spent in 2012 (2011 - $13.2 million).
In 2012, the Company closed two significant financings raising gross proceeds of $42.0 million. In December the Company issued 1,004,491 common shares to Royal Gold Inc. at $17.92 per share raising gross proceeds of $18 million and in November 2012 a total of 1,100,000 flow-through common shares were issued, at an average price per share of $21.85, raising gross proceeds of $24.0 million.
Complete New Release - http://www.seabridgegold.net/news.php
Additional Information - info@seabridgegold.net
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Seabridge Gold Inc.
Tel. (416) 367-9292 ext 228
Fax. (416) 367-2711
www.seabridgegold.net
.