09:39 AM EST - Seabridge Gold Inc. : announced that it signed a letter of intent to sell its 100% owned Noche Buena project in Sonora, Mexico to Minera Penmont, S. de R.L. de C.V., a joint venture between Fresnillo Plc and Newmont USA Ltd., a wholly owned subsidiary of Newmont Mining Corp. Terms of the sale are US$25 million in cash at closing, a further US$5 million upon commencement of commercial production from Noche Buena and a 1.5% net smelter royalty payable on all production sold for US$800 per ounce of gold or greater. The transaction is expected to be completed within the next two months. Seabridge Gold Inc.
shares T.SEA are trading unchanged at $17.02.
