Seabridge Gold (SEA) Q4 2023 earnings summary

Executive summary

• FY2023 filing identifies a history of net losses and negative operating cash flows, with further losses and negative operating cash flows expected.

• Exploration and development are the focus; future project advancement depends on financing, partnerships, permits and continued operational, legal, economic and social viability.

• Audited financial statements are prepared under IFRS in Canadian dollars.

Financial highlights

• A history of net losses and negative cash flow from operations is identified as a continuing financial constraint.

• 86,108,019 common shares were outstanding at December 31, 2023.

Outlook and guidance

• Planning assumptions include access to additional financing on reasonable terms and sustained demand and prices for gold and copper, with lesser exposure to silver and molybdenum.

• Mineral project advancement depends on estimated resources having merit and mineralization continuity matching estimates; actual results may differ from project estimates.

• Exploration and development will continue without undertaking production activities independently.