Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Seabridge Gold (AMEX: SA) jumped as much as 12% today after the company announced a private placement of shares.

So what: Royal Gold will make a private placement investment in Seabridge for 1.019 million shares at $30.39 per share, a premium to yesterday's price. It will also be given a C$100 million option to acquire a 1.25% royalty on all gold and silver from the KSM project.

Now what: The share sale funds will be used to optimize the KSM project while the company looks for a buyer or partner in the project. Investors were giddy about the news early in the day, but shares tailed off later in the day and are up just 6% as of this writing. Long term, I have to agree with Motley Fool Alpha , which thinks this stock has further to run once milestones of the KSM project are cleared.

Interested in more info on Seabridge Gold? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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