11:00 AM EST, 12/02/2024 (MT Newswires) -- Seabridge Gold ( SA ) said Monday that a second petition has been filed in the British Columbia Supreme Court seeking judicial review of a regulatory decision that the company's KSM mining project has been "substantially started."

The petition filed by SkeenaWild Conservation Trust and Southeast Alaska Indigenous Transboundary Commission "makes essentially the same arguments" on the reasonableness of the regulatory decision as the first petition, which was filed by the Tsetsaut Skii km Lax Ha Indigenous group, the company said.

Seabridge Gold ( SA ) said that aside from alleging that the regulatory decision was unreasonable, the new petitioners also want that decision to be quashed and remitted to the British Columbia Minister of Environment and Climate Change Strategy for reconsideration.

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

Seabridge Gold ( SA ) said it has been advised that the two petitions will be combined and heard together in court because the same issues were being raised.

The company's shares were down nearly 2% in recent trading.

Price: 14.11, Change: -0.28, Percent Change: -1.94