HomeMarket NewsMiningA Victory for Seabridge in the Battle for KSM License

A Victory for Seabridge in the Battle for KSM License

Actionable Trade Ideas

always free

BC Ministry of Water, Land, and Resource Stewardship has confirmed that there is no reason to revoke the license under the provisions of the relevant legislation or the terms of the permit.

According to Seabridge, the rights conveyed by the license and the relevant activities authorized by the permit were initially given to them in September 2014. Tudor, on the other hand, claimed that the government had no authority to issue the permit due to their acquisition of the mineral rights in 2016.

Staking Their Claim

The disputed area covers the land between the mine site and the processing plant/tailings facility. It is designated for driving tunnels to transport ore, fuel, and accommodate hydro power lines. Seabridge asserts that their license allows their subsidiary KSM Mining to occupy the area during construction and will become a statutory right of way after completion, even where the tunnels pass through mineral claims owned by Tudor.

Seabridge CEO Rudi Fronk expressed contentment with the BC government’s decision: β€œWe are pleased that the BC government is taking no action on Tudor’s request. We understand that in granting authorizations such as the license and the permit the BC government will consider the impacts on third parties such as Tudor and protect the rights of third parties, which it has done, but in confirming our license and the permit we believe it is acting in accordance with the best interests of the people of BC.”

Tudor, however, was quick to issue their own statement claiming that the permit does not cover the route of the tunnels and promised to oppose any application by Seabridge to build them.

Gold at Their Fingertips

Seabridge holds a 100% interest in several North American gold projects. The flagship asset is the KSM copper-gold project while the Iskut gold project is also located in the province’s Golden Triangle. Other projects include Courageous Lake (NWT), 3 Aces (Yukon), and Snowstorm (Nevada).


Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.