Seabridge Says British Columbia Mine Worth Higher Premium
This article is for subscribers only.
Seabridge Gold Inc., which said three years ago it wanted to be bought by a larger rival, said its assets are “worth a lot more” than the 30 to 40 percent premiums other metals producers have fetched.
Chief Executive Officer Rudi Fronk prefers a joint-venture agreement to a sale of the Kerr-Sulphurets-Mitchell copper and gold mine in British Columbia or the company, he said in an interview today at Seabridge’s headquarters in Toronto. There have been 22 gold acquisitions larger than $100 million announced this year, at an average premium of 34 percent, according to data compiled by Bloomberg.