Seabridge Gold has over $200 billion worth of gold and other metals in the ground at just one project…  Yet as I write, at $13 a share, Seabridge's stock market value is only $580 million.

Seabridge shares have fallen by nearly two-thirds since their highs last April (13 months ago). The crazy part of this fall is… the price of gold today is actually higher than it was last April, when Seabridge shares were in the mid-$30s…

It's not just Seabridge – the whole universe of gold stocks has been decimated.

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