SCHEDULE 13G/A: Kopernik Global Investors and David B. Iben Disclose 10.6% Stake in Seabridge Gold Inc.

Kopernik Global Investors, LLC and David B. Iben have jointly reported a beneficial ownership of 10.6% in Seabridge Gold Inc., totaling 10,640,829 common shares.

Summary

• Kopernik Global Investors, LLC and David B. Iben (the "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Seabridge Gold Inc.
• As of February 28, 2025, the Reporting Persons collectively beneficially own 10,640,829 common shares of Seabridge Gold Inc.
• This ownership represents 10.6% of the issuer's outstanding common shares, based on 100,199,669 shares outstanding as of March 5, 2025, as reported on the Toronto Stock Exchange under the symbol "SEA."
• Kopernik Global Investors, LLC is an investment adviser organized under the laws of Delaware, and David B. Iben is its controlling member and Chief Investment Officer, a citizen of the United States.
• The shares are held in the ordinary course of business for investment advisory clients and are not intended to change or influence the control of Seabridge Gold Inc.

Sentiment

Score: 5

Explanation: Neutral, as this is a factual disclosure of beneficial ownership and does not contain performance or strategic information.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Informs shareholders and the market about a significant ownership stake held by Kopernik Global Investors, LLC and David B. Iben, potentially indicating institutional confidence or interest in Seabridge Gold Inc.

Key Dates

Keywords

Seabridge Gold Inc., Kopernik Global Investors, David B. Iben, Schedule 13G, Beneficial Ownership, Common Shares, Investment Adviser, Gold Mining, SEC Filing