Seabridge's strategy is to not build and operate mines. They explore, define the economics and then sell the property. There latest presentation gives a good overview of this process: http://www.seabridgegold.net/corp_pres.pdf
Earlier this year, Seabridge stated its desire to sell KSM for 2 billion dollars. I've long been skeptical of there ability to do so. A recent writeup on Gold stocks daily explains the reason why:
"Seabridge is practically asking for a major to buy them out but so far they have no takers. The key to making this project work is higher gold and copper prices and also assuming that they stay elevated for years and years to come. A major can’t go into this without that happening.
A lot of investors in Seabridge only see the amount of ounces in reserves and the current price of gold and think “wow, this company is massively undervalued”. What they don’t factor in is the cost to construct the mine, plus the buyout price for the project, plus the time it takes to construct it, plus the fact that if gold drops back to $1,100 an oz it would take over 10 years to recoup all the capital. That is why no buyers have emerged yet."
However, if you include Snowfield, the project becomes more economically feasible. I think Seabridge realizes this and knows the best way to sell KSM is to combine it with Snowfield.