Seabridge Gold established an unsecured, short-term loan facility for up to US$100 million with an unnamed strategic investor. The company has not yet drawn any funds from the facility. This arrangement bolsters liquidity as Seabridge advances the KSM Project in British Columbia.
The funds will support 2026 work programs at the wholly-owned gold-copper site. Planned activities include road construction to improve site access. The company will also collect data to support feasibility-level design and engineering.
The loan carries a 7% interest rate, compounded monthly. It matures on December 31, 2026. Seabridge may draw funds in minimum increments of US$10 million.
The company can repay the debt in cash at any time. Subject to approval, Seabridge may also settle the loan in common shares at maturity. The KSM Project remains one of the world’s largest undeveloped gold-copper deposits.