10 Best Small-Cap Gold Mining Stocks to Buy Now

7. Seabridge Gold Inc. (NYSE:SA)

Number of Hedge Fund Holders: 20

Seabridge Gold Inc. (NYSE:SA) focuses on buying and developing promising gold properties throughout North America. The company’s portfolio includes gold, copper, silver, and molybdenum assets, with the KSM project being one of the world’s biggest undeveloped gold-copper deposits. The company’s growth prospects are bolstered by its other valuable projects, such as Iskut, 3 Aces, and Courageous Lake, each showing strong potential.

During Q3 ended September 30, 2024, Seabridge hit a key regulatory target when British Columbia declared the KSM project as “Substantially Started.” This status means KSM’s Environmental Assessment Certificate stays valid indefinitely, creating a stable foundation for development. The company also got its Mitchell Treaty Tunnels License of Occupation extended by 20 years, securing its long-term development rights.

Furthermore, KSM’s early-stage construction is advancing steadily on schedule during the quarter. The company has about $150 million in cash, putting it in a good position to push its main projects forward. Seabridge Gold Inc. (NYSE:SA) recently updated the resources at KSM’s Iron Cap and Kerr deposits, showing 5.9 million more ounces of gold, 3.3 billion more pounds of copper, and 55.4 million more ounces of silver. These updates boost KSM’s long-term outlook and Seabridge’s prospects.

To strengthen its financial position, Seabridge Gold Inc. (NYSE:SA) raised $80 million through a bought deal offering and $20 million through a strategic investor. This money will fund KSM’s crucial development, which includes finishing the BC Hydro switching station and gathering final field data for a feasibility study. It also set up a new at-the-market (ATM) offering agreement, worth up to $100 million, giving Seabridge a financial flexibility to explore and advance the project.

Looking ahead, Seabridge Gold Inc. (NYSE:SA) is focused on securing a joint venture partner for the KSM project while continuing to advance its early-stage development. With gold prices reaching new highs and growing institutional interest, Seabridge is exploring more financing options, such as possible royalty sales, to support growth and maximize asset value.

Thus, Seabridge Gold’s strategic progress, financial backing, and project developments set it up as one of the best gold stocks to buy.