Business Context and Reporting Period
Company: Seabridge Gold Inc.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: October 2005 (Event date: October 11, 2005; Filing date: October 18, 2005)
Context: The registrant is a Canadian company reporting the closure of a previously announced private placement of common shares.
Key Financial Metrics
The filing does not provide comprehensive financial statements (revenue, profit, cash flow, margins, or debt levels) for the period. The only specific financial data disclosed relates to the financing event:
- Capital Raised: $5,000,000
- Shares Issued: 1.0 million common shares
- Issue Price: $5.00 per share
- Discount: 4.8% below the closing price on September 26, 2005
Material Changes
The primary material change is the successful completion of the private placement announced on September 27, 2005. This transaction increased the company's equity capital by $5,000,000 and expanded the share count by 1.0 million shares.
Guidance, Outlook, and Use of Proceeds
Management has outlined the specific allocation of the proceeds from the private placement:
- Funding an expanded exploration program at two Nevada exploration projects.
- Meeting general working capital requirements.
The filing does not contain forward-looking guidance on production, reserves, or future earnings, nor does it detail specific risks or contingencies beyond the standard nature of exploration activities.
Investor Verification Checklist
- Verify the exact number of outstanding shares post-issuance to assess dilution impact.
- Confirm the specific names and locations of the two Nevada exploration projects receiving funding.
- Review the September 27, 2005 press release for the original terms and conditions of the private placement.
- Check subsequent filings for updates on the progress of the Nevada exploration programs.