On July 24th, 2015, The I Know First algorithm gave a bullish signal of 151.68 for the ticker SA (Seabridge Gold), which had a predictability indicator of 0.34. In accordance with the algorithm’s prediction, SA spiked 151.68% in the following week.
Seabridge Gold Inc. (Seabridge) is a development stage company engaged in the acquisition and exploration of gold properties located in North America. The Company’s objective is to provide its shareholders with leverage to a rising gold price. Seabridge’s principal projects include the KSM (Kerr-Sulphurets-Mitchell) property located in British Columbia and the Courageous Lake property located in the Northwest Territories.
The company has risen 21.92% since March 18th and is currently up-trending. It has outperformed S&P 500 by 25.19%. Such news came after previous 8 months of bad performance.
On April 7th the company announced that it has closed its bought deal with a syndicate of underwriters. A total of 1,610,000 flow-through common shares were sold grossing over $16 mil. The proceeds were planned to fund a British-Columbia gold exploration program
Seabridge announced on Aug. 4th that it has successfully treated selenium in the waters of its privately-owned KSM project located in British Columbia. By doing this they have satisfied conditions of the BC Environmental Assessment Certificate issued to them in 2014. According to CEO of Seabridge Gold, such an achievement signifies “further milestone in KSM’s ongoing transition from exploration to development”.
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