Quarterly ResultMay 13, 2026, 05:32 PM
Seabridge Gold Q1 Net Loss $6.65M; Basic EPS $(0.06)
AI Summary
Seabridge Gold reported a net loss of $6.65 million for Q1 2026, or $(0.06) per basic share, a decline from a net income of $10.55 million in Q1 2025. Total comprehensive income, however, increased significantly to $31.33 million from $6.42 million year-over-year. The company advanced the spin-out of its Courageous Lake Gold Project and updated the KSM Project's mineral resource estimate, which saw increases in gold and copper. Subsequent to quarter-end, the KSM Project was designated a provincial priority project, and secured note agreements were amended.
Key Highlights
- Q1 2026 net loss was $6.65 million, compared to $10.55 million net income in Q1 2025.
- Basic loss per share was $(0.06) in Q1 2026, down from $0.11 income per share in Q1 2025.
- Total comprehensive income rose to $31.33 million in Q1 2026 from $6.42 million in Q1 2025.
- KSM Project's Measured & Indicated Mineral Resources increased by 6.8M oz gold, 1.5B lbs copper.
- Advanced spin-out of Courageous Lake Gold Project; shareholder vote scheduled for May 22, 2026.
- Raised net $35.8 million through At-The-Market (ATM) offering, exhausting the program.
- KSM Project designated a provincial priority project by British Columbia.
- Secured note agreements amended, extending put exercise dates to March 24, 2028.