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Gold/Mining/Energy : Golden Triangle

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From: klinker	11/26/2012 1:57:27 PM
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Stonecap Securities keeps Seabridge Gold at "Sector Perform"11:57 am by Joyanta Acharjee Stonecap Securities has retained a "Sector Perform" rating on Seabridge Gold (TSE:SEA) after the company raised $22.7 million in a bought deal public offering. The capital markets firm lowered its target price to $24.60 from $25.10. "Seabridge is now well financed to continue its exploration/development work at KSM and Courageous Lake," Stonecap Securities analyst Christos Doulis said. "The recent higher-grade intercepts from Kerr provide an excellent target for Seabridge’s 2013 exploration program as it looks to add higher-grade ounces to its projects." Seabridge now has approximately $45 million in working capital, which Stonecap estimates is sufficient to fund all of its near-term exploration/development plans and "capitalize on opportunities" if they become available. One of the primary targets for Seabridge in 2013 will be Deep Kerr, where it recently intersected 473 metres (starting 20 metres downhole) grading 0.9% copper and 0.31 grams per tonne gold in drill hole K-12-21. Further down the same drill hole there was an additional intercept of 16.3 metre grading 6.9 g/t gold, Stonecap said in its note. proactiveinvestors.com

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