09:47 AM EST - Seabridge Gold : announced today the results of a new Preliminary Economic Assessment for its 100%-owned Courageous Lake project located in the Northwest Territories. The new PEA was prepared by Wardrop, a Tetra Tech Company. The independent consultants have continued with earlier conclusions that an open-pit mining operation, with on-site processing, is the most suitable development scenario. A base case scenario was developed for the project incorporating a 17,500-tonne-per-day operation (6.4 million tonnes per year throughput), resulting in a projected 16-year operation with average annual production of 383,000 ounces of gold at a life of mine average cash operating cost of $599 U.S. per ounce recovered ($536 U.S. in years one to five).
shares T.SEA are trading even at $28.50.
