Seabridge Gold Inc. reported a net loss of $27.6 million, or $0.31 per share, for the three-month period ended September 30, 2024. This compares to a net loss of $5.3 million, or $0.06 per share, for the same period in the previous year.
The reported net loss for the current quarter included a non-cash loss of $42.0 million, which resulted from the quarterly remeasurement of the company's secured notes. This remeasurement was primarily influenced by a decrease in discount rates, higher metal prices, and a change in the valuation date, partially offset by interest payments.
During the third quarter of 2024, Seabridge invested $28.0 million in mineral interests, property, and equipment, a decrease from the $73.7 million invested in the corresponding period of the prior year. Net working capital stood at $36.0 million as of September 30, 2024, down from $54.5 million at December 31, 2023.
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