Gitxsan Withdraws KSM Support Letter, Demands Consultation With Tsetsaut
SA has more than doubled off its 52-week low of $15.98.
Summary
The Gitxsan Huwilp Government has withdrawn its 2013 letter of support for Seabridge's KSM project and is calling for meaningful consultation with the Tsetsaut Skii km La Ha. This follows the June 8 BC Supreme Court ruling that the BCEAO failed to adequately consult TSKLH on the 'substantially started' determination. The withdrawal of support adds political risk to the KSM project, though the company notes it has agreements with the Nisga'a and Tahltan nations and that TSKLH has said it is not anti-development. The consultation deadline for TSKLH submissions is September 28, 2026, after which the BCEAO will reconsider its decision.
At the time of this announcement, SA was trading at $33.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $15.98 to $40.06. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.