SA - Pretivm Resources sells Snowfield to Seabridge Gold for $100M 1.5% royalty

Pretivm Resources (PVG) +4.1% pre-market after agreeing to sell its Snowfield property in northwest British Columbia to Seabridge Gold (SA) for $100M in cash, a 1.5% net smelter royalty related to all production, and a $20M future contingent payment.Seabridge says Snowfield hosts a large gold resource immediately adjacent to its 100%-owned KSM gold-copper project in northeast B.C.Snowfield's mineral resource is 25.9M oz. of gold in the measured and indicated category and a further 9M oz. in the inferred category as well as substantial copper resources.Seabridge is "a backdoor play on rising copper prices with its monster reserves at KSM," Paul Franke writes in a bullish analysis published recently on Seeking Alpha.

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Pretivm Resources sells Snowfield to Seabridge Gold for $100M, 1.5% royalty