Seabridge Gold Reports 2024 Loss Amidst Strategic Investments
Toronto, Friday, 28 March 2025.
Seabridge Gold Inc. reported a net loss of CAD 31.2 million for 2024, contrasting some erroneous reports of profits. Strategic investments and equity financings were pivotal this fiscal year.
Financial Performance Overview
Seabridge Gold Inc. (NYSE: SA, TSX: SEA) reported a net loss of CAD 31.25 million (USD 0.35 per share) for the fiscal year 2024, marking a slight increase from the CAD 29.27 million loss recorded in 2023 [1]. The company’s net working capital position stood at CAD 37.8 million as of December 31, 2024, representing a decrease from CAD 54.5 million at the end of 2023 [2].
Strategic Investments and Capital Allocation
The company’s investment strategy showed significant shifts in 2024, with cash investments in mineral interests and property decreasing to CAD 106.3 million from CAD 230.2 million in the previous year [2]. In a strategic move to strengthen its financial position, Seabridge successfully raised USD 142.5 million through two equity financings in February 2025, pricing shares at USD 12.25 each [2].
Project Portfolio and Future Outlook
Seabridge maintains a robust portfolio of North American gold projects, with its flagship KSM and Iskut projects located in British Columbia’s Golden Triangle region [3]. The company’s Chairman and CEO, Rudi Fronk, has identified securing a partner for the KSM project as the primary corporate objective for 2025 [2]. The proceeds from recent financings are earmarked for completing payments to BC Hydro for the KSM switching station and supporting a bankable feasibility study [2].