Seabridge Gold Wins Court Ruling on KSM Project Substantially Started Status

Seabridge Gold Inc. reported that the British Columbia Supreme Court issued a decision regarding its KSM project's "substantially started" determination. The court found that the BC Environmental Assessment Office's determination that the KSM project was substantially started as of July 24, 2024 was reasonable. However, the court ruled that the EAO must engage in additional consultation with the Tsetsaut Skii km Lax Ha (TSKLH) First Nation, providing them 90 days to submit written submissions before the EAO reconsiders the determination. The court dismissed a second petition filed by SkeenaWild Conservation Trust. Seabridge has incurred an additional $208 million in expenditures on permanent works at KSM since January 2024, bringing total project expenditures to $1.2 billion. The company will continue work at KSM during the consultation process.