This is from over at the stockhouse bulletin board. Anyone know what company this is?
What’s unique about Seabridge is that they don’t produce gold. And they don’t mine gold. Instead, they “hoard” it. In fact, they are one of only two “gold hoarders” in the world.
What does a “gold hoarder” do exactly?
Well, Seabridge simply buys great gold supplies when prices are extraordinarily cheap. Then they cash in on these properties as gold becomes more expensive.
That’s why this is a great gold stock to own. You have none of the expenses or risks of mining or production. Yet you get huge gains as the price of gold goes up.
It’s no surprise that Seabridge is up 363% since July 2005, when I first recommended it.
When I found Seabridge, the company had 12.7 million ounces of gold in the ground. The shares were trading for the equivalent of $8.60 per ounce. It was a rare find. But, luckily for us... it’s now time to buy the other gold hoarder.
Remember, there are only two gold companies in the world who do business this way. We’ve seen 363% in gains on the first one... and now I think we’re about to see big gains on the second one too.
I strongly believe this company is the “Next Seabridge.” And it is one of my favorite investments in the world right now.
Just like Seabridge, this company has unbelievable amounts of gold in the ground--10 million ounces of “measured and indicated” gold reserves.
In short, if you buy this stock now, you’re getting gold in the ground for about $10 an ounce. With gold prices now up considerably, this company is “The Next Seabridge.” It is cheapest gold stock in America of any reasonable size. And today it is a “screaming buy.”
One of this company’s properties is in a famous gold region of Nevada. The company bought it for less than $3 million dollars. Yet this property has over a million ounces of gold in the ground -- worth about $630 million.
The previous owner spent $40 million getting permits, building mills, roads, power lines... in other words, everything you need to make money.
Unfortunately, the previous owner did all of this work in the 1990s, when gold wasn’t worth much. As a result, they closed the mine in 1998 when gold prices bottomed. They simply couldn’t make a profit.
This is the kind of opportunity gold “hoarders” look for.
Besides this property, the company has ten others, one of which is in Mexico. The company bought this property for just $1 per ounce of gold near the bottom of the gold market in 2002! As you probably know, gold is up about 130% since then.
And even though “The Next Seabridge” owns $8.3 billion worth of gold, it is a very small company—worth only about $100 million on the stock market.
