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Posts Tagged ‘Noche Buena’

Seabridge Gold Sells Residual Noche Buena Project Interest for US$10.12 Million

Despite good news and solid high gold prices, Seabridge shares remain about level for months now. When you have a look at the companies fundamentals, the current share price is ridiculously low. Seabridge is a good buy below $29.00 ; our longer term target (e.g. 2-3 years) for Seabridge is $80.00

Seabridge Gold News Release:

Toronto, Canada… Seabridge Gold announced today that it has completed the sale of its remaining interest in the Noche Buena project to Minera Penmont, S. de R.L. de C.V. (“Penmont”) for US$10.12 million in cash (see News Release dated October 28, 2010). Penmont is a joint venture between Fresnillo plc. and Newmont USA Limited, a wholly owned subsidiary of Newmont Mining Corporation. Dahlman Rose & Co., LLC acted as advisors to Seabridge for this transaction.

Seabridge holds a 100% interest in several North American gold projects. The Company’s principal assets are the KSM property located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories. For a breakdown of Seabridge’s mineral resources by project and resource category please visit the Company’s website at http://www.seabridgegold.net/resources.php.


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: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.net