SA, CA8119271028

Seabridge Gold advances KSM review as RBC lifts target for Seabridge Gold stock

Published on 10/05/2026 at 05:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

KSM's 90-day consultation reached its September 28, 2026 deadline. Seabridge Gold stock was last priced at EUR 24.00 on October 2, 2026.

SA, CA8119271028, Illustration mit AI erstellt.

Seabridge Gold (CA8119271028) advanced the regulatory process for its KSM project after British Columbia's Environmental Assessment Office updated the company on September 22, 2026. The development came as MarketBeat reported that Royal Bank of Canada raised its target from USD 71.00 to USD 72.00 on September 16, 2026, while keeping an Outperform rating for Seabridge Gold stock.

KSM review moves into its next step

The EAO's reconsideration of KSM's Substantially Started Designation followed a British Columbia Supreme Court ruling dated June 8, 2026. The court required an additional 90-day consultation with the Tsetsaut Skii km Lax Ha before the regulator can reconsider the designation.

According to Seabridge Gold on September 22, 2026, the consultation period was due to conclude on September 28, after which the company would receive an opportunity to respond to submissions. The EAO is then expected to prepare a report and recommend a decision on the designation.

Infrastructure and funding shape valuation

Seabridge's KSM project also reached an infrastructure milestone when the Treaty Creek Terminal was substantially completed and energized on August 27, 2026. Streetwise Reports said on September 24, 2026, that the terminal is expected to be operational by November 2026 and that Seabridge has access to a US USD 100.00 million short-term credit facility.

The same report described the KSM feasibility study as targeted for the second half of 2027, with the underground tunnel and access road system approximately 40.00 percent complete. These milestones matter because Seabridge is an exploration and development company rather than a producer with operating mine revenue.

On the NYSE, Seabridge Gold was last at USD 26.97 on October 2, 2026 at 4:00 p.m. ET. Its market capitalization was USD 2.9 billion, while the 52-week range stood at USD 21.67 to USD 40.06 on that date.

Lang & Schwarz prior close is EUR 24.00

Lang & Schwarz lists a prior close of EUR 24.00 for October 2, 2026. The RBC target move and the KSM regulatory timetable leave the valuation debate tied to permitting progress, infrastructure readiness and the financing structure for future construction.