11:24 AM EST, 11/25/2024 (MT Newswires) -- Seabridge Gold ( SA ) said Monday that the Tsetsaut Skii km Lax Ha Indigenous group filed a petition in the British Columbia Supreme Court seeking judicial review of a regulatory decision that the company's KSM mining project has been "substantially started."

Tsetsaut Skii km Lax Ha, an Indigenous group from the region situated between British Columbia and Alaska, is seeking, among other things, a declaration that British Columbia failed to fulfill its duty to consult the group with respect to the decision. Substantially started was a determination given by the British Columbia Environmental Assessment Office.

"Seabridge's application for a 'substantially started' determination was widely supported by the communities of northwest British Columbia, including Indigenous communities," Seabridge Chief Executive Rudi Fronk said. "TSKLH may not agree with the ultimate 'substantially started' determination, but Seabridge is confident that there is ample evidence that the determination was reasonable."

The company said a final decision on the petition could take at least a year.

Seabridge shares were down more than 4% in recent trading.

Price: 14.42, Change: -0.67, Percent Change: -4.44