ChatGPT Just Saved Me! I Was About To Buy A Gold Mining Company. ChatGPT Said "Don''t pick that one!

Hello dear friends. My name is Clive

Thompson. It's late September 2025. This

video is timeless. You can watch it

tomorrow, next week, next month, next

year, or anytime. It will still be valid

for a very long time from now. What I'm

going to do is show you how to do

investment research using Chat GPT.

And Chat GPT has come a long way. I have

the plus version which is about $20 a

month. It's the paid version. U but it's

come a long way and can do an awful lot

of things that it couldn't do a few

months ago. Um so I'm going to

demonstrate to you how it will tell me

whether a particular potential

investment I have found is a good

investment, a bad investment, or one I

should stay away from. And by the way,

this is not investment advice. I'm not

giving you investment advice. I don't

know anything about you. I don't know

your puzzle circumstances. Uh I don't

know how much you earn. I don't know how

many other assets you got. I don't know

about your family. I don't know your

age. Uh so anything you hear in this

video is not advice for you. You should

go and consult with an investment

consultant to see if there's anything of

use for you here. However, you can learn

from my method methodology. You can

learn how to study investments on your

own and to find out things about whether

this particular investment might be

suitable for you. So, I actually know

the answer because I've done this before

on this investment. I know what the

result is going to be. And I'm going to

tell you straight out, I wouldn't buy it

ever. But let's assume that I'm starting

a fresh and I didn't know uh what was

going to happen. Uh so, I'm going to

demonstrate to you what I'm looking for.

So,

first of all, what am I looking for?

I'm looking for a gold mining company

which is just on the cusp of making a

profit or it's making a profit already

but only just and it's going to make a

lot more profit in the future and it's

going to have a lot more gold dug out of

the ground in future. In other words,

I'm looking for a situation which is a

growth situation and I want to have it

at a reasonable price earnings ratio and

I want it to be a company where I can

buy the shares today and hopefully get a

much higher share price in a few years

from now. So,

I've been going through various gold

mining companies and I found one which I

think is worth a second look. The

company's name is Seabbridge Gold Inc.

This is their website. Now, I'm not

telling you this is a good investment

and again it's not investment advice.

Um, in fact, I think it's not

necessarily a good investment, at least

not for me. But let's say I didn't know

this in advance. And here I'm on the

website and I can see that there's a

section called investors. I can see the

quarterly results Q1, Q2. And if I go to

the investors section, uh I can see a

lot more information uh which I can go

back and uh download.

Here we are. I can download fact sheets,

financial report. I can get all the

financial reports, uh upcoming events,

stock information. Uh for example, if I

click there, I can get the

uh annual results here. I can get the

Edgar filings. I get the PDF of the 2024

tax year uh report.

And I just saw a bit earlier on a bit

somewhere else on the website,

I can get information about its reserves

and its resources. There we are. I don't

understand any of that, but I'm sure

chat GPT will. Now, one option open to

me. I could take all this information

and dump it into chatgpt

and simply ask chat GPT

to give me the answer. That would be a

really great thing and uh it would have

all the papers. But chat GPT is quite

advanced these days. It can go and look

for the papers itself. I don't need to

download them, move them over to chatbt

and then say look at these papers. I can

actually say to chatb and get the papers

and have a look. It's a lot easier. So,

let's go to chatbt and ask the question

of what I'm looking looking for. So,

here's my prompt.

I want to invest in a gold mining

company. Oh, let's just put the browser

back.

I want to How can I help, Clive? It

says, I want to invest in a gold mining

company which will produce more gold in

2027

than it produced in 2025.

and which I have to add a word here will

see uh will

see growing profits from 2025 onwards.

I am looking for a company where the

price earnings ratio is likely to below

be below 15 times in 2027

based on a gold price of $5,000 an ounce

in 2027. It should say I'll just change

that.

$5,000 down to 27. That's obviously a

guess at the future price, but I think

it's a reasonable guess. I think it'll

probably be a lot higher than that, but

that's by the buyer. It's just a guess.

I not financial advice. I don't know the

future.

So, I go on. I am potentially interested

in Seabbridge Gold because the last two

quarters have shown profits.

So, I am wondering if it may meet my

criteria described above. In other

words, uh it price ratio would be below

15 times in 2027 and it would be

producing more gold in 2027 and we're

assuming a gold price of $5,000. So, I'm

wondering if it will meet my criteria

described above. Now, here's my

instruction.

Go to the official website of Seabbridge

Gold Limited located at I give the web

address www.cbridgegold.com

cbridgegold.com

and under the section related to

investments

related to investors read the annual

report and accounts as well as the

management analysis and also read the

quarterly reports for Q1 and Q2.

Also look for any fact sheets or any

news stories or other reports on the

website

based on what you read. Tell me how much

gold has been or will be mined in 2024,

2025, 2026, and 2027,

and tell me how much profit it will be

making in 2027

based on an assumed gold price of $5,000

an ounce.

I would also like to know how strong the

balance sheet is and whether they have

sufficient funds to support future

mining operations.

Make sure you read these reports in full

before answering me. Take your time to

get it right rather than give giving me

the fastest answer. Don't write me a

book with your findings. Just get

straight to the conclusion. I.e. how

much gold it has produced.

It says oil in the past in the past.

Let's say how much gold has it produced

in the past and how much gold will it

produce in the future and what will be

what will their profit be? I could need

to add the word be.

Don't write about your reasoning or

anything else. I just want the

conclusion in two short paragraphs. No

blah blah. Also, I want to know if it's

a safe company. Uh so I'll add that in

also. come up.

Is it a safe

company

and

does it have the funds to

mine the gold? Question mark.

Okay, I think we're ready to go. So,

I'll click the uh go search button.

We'll It might take a minute or two. So

um what what we'll do while we're doing

that I'll just talk about gold mining

companies generally and how you how how

I personally value them. So first of all

when I'm looking for a gold mining

company I don't want a company which is

just prospecting. Um I want a company

which is actually producing gold. Uh

because if it's just prospecting I don't

it's a lottery ticket. I don't know if

it will ever find the gold. And I just

see that the um chat GPT has come up

with the answer. So let's go back to the

browser and we'll have a look here at

what chat GP's answer is. It says I'll

read it to you. Oh dear. Bad news for

me. Well, good news that I haven't

bought the share yet. See is not

currently producing any gold. That's

interesting. How's it making a profit, I

wonder? So production for 2024

to 2027 is zero. Oh, that's bad. And

that comes from Yahoo Finance apparently

because they produce nothing now

and in your future years unless they

activate KSM or another mine profit in

2027 under an assumed gold price of

$5,000 an ounce is zero

from gold sales. Balance sheet of

funding. They have large reserves. KSM

has 47.3 million ounces of gold proven

and provable. That's good. Plus

additional

measured, indicated, and inferred

ounces. They presumably got that from

the essay reports I I asked them to look

at. But they are a development company

with no current producing assets. So no

operating cash flow from mining. Funding

thus depends on raising capital,

partnerships, or bringing the mine into

production.

They have some cash permits and

approvals in place including

substantially started designation for

regulatory approvals which helps but

they do not seem to have current

production or profit generation capacity

from mining and that comes from their

own website. Now, the question I'm going

to ask here is

if Seabbridge,

let's go back to the camera. If

Seabbridge isn't mining gold,

where does the profit come from? That's

puzzling because they're not a gold

miner yet they made a profit. Let's ask

the question here.

So I'm going now back to the browser and

I've written the question. The question

is

if Seabbridge

is not mining any gold in any of those

years, how come it has

made a profit in each of the last two

quarters? Is it some accounting trick?

dig into the latest Q1 and Q2 2025

reports

and show me

exactly what line or lines.

No, what what what items? Let's do not

lines what what items caused the

reported profits.

Explain it to me like I am a layman.

I also got I could ask look at the the

Q1

Edgar and Q2

Edgar reports

for the truth behind the prophet. Now

let's see what we get from that.

So

well it's thinking about it and

studying. I'll just talk a little bit

more about buying gold miners. So a

personal preference is to buy a gold

miner which is already producing and

which will produce more gold in the

future. So you get the double whammy of

first of all a higher gold price which I

expect but not guaranteed not advice and

secondly the benefit of more gold ounces

being produced. So adding those two

together, you get a leveraged effect on

the profit over and above another gold

mining company which is maybe producing

less gold each year. Um and but still

somehow making more profits from a

higher gold price. So I don't want to

just make a a profit extra profit from a

higher gold price. I want to make my

extra profit because they the gold price

is higher but also I want the company to

produce more and more each year. In

other words, going forwards, not

backwards. Now, in that sort of

situation, it would be more of a growth

company and therefore uh if it is a

growth company, I'd expect it to have a

higher price earnings ratio than a

company which is slowly going backwards.

So, let's see if um how CH GPD is

getting on with the answer. We'll go

back to the browser. Well, it looks like

it says it's trying HTML version,

retrieving HTML versions for X99 and

992. I don't know what that is, but

obviously it's hard at work looking at

reading documents. It's been a few

minutes now that it's been looking at

the documents. So, I can be confident

that it's reading the documents in the

way I told it to do so. Uh, it says,

"Clarifying profits for Q1 and Q2,

analyzing Q1 profits, searching Q2

financials for measurement details,

opening HTML of exhibit 992 with MDNA.

The MDNA is management, discussion, and

analysis, I guess. Um, so there is

reading the management discussion of

their results to see what the

management's got to say. Uh, and there

we are. Here's the profit. Here's the

answer coming.

Short answer, and I'll read this to you.

The profits weren't from mining.

They came from accounting gains and

financing related items moving through

the income statement.

In Q1,

CBridge reported net income of 10.6. 6

million Canadian dollars, mainly because

one, a non-cash

rememeasurement gain on its secured

notes added $16.3

million.

So that sounds like when it says it's

secured notes, I thought that would be a

liability, but it sounds like it's got

some sort of asset which it thinks is

now worth more than it was a year ago or

3 months ago. And the the other source

of profit is two foreign exchange gains

added 1.9 million Canadian dollars. Aha.

So that means they probably were holding

US dollars. We know the US dollar went

down. Oh no, went up. the US dollar went

up against the Canadian dollar. So the

Canadian dollar went down. So even

though they got US dollars and they have

to spend US dollars on their mining

operations and they got the same number

of US dollars as before, they're calling

that a profit. Well, that's not really a

profit in my books, but of course from

an accounting perspective, it can be

because it's worth more in Canadian

dollars than it was worth before. And

three, the third source of profit is

interest income on cash added of 0.9 or

added 0.9 million Canadian dollars. So

basically they got those US dollars on

deposit earning interest of nearly a

million dollars. These

more than offset corporate costs of 4.4

million and tax expenses of 4.3 million.

None of this was gold sales profit.

Okay. Okay, so in Q1 the profit was uh

from a cash flow point of view

non-existent. It was just they had a bit

of paper and they said that bit of

paper's worth more than it is last year.

They also had some money on deposit in

the bank and they said because it's

dollars, US dollars, it's worth more in

Canadian dollars. Therefore, that's a

profit

except of course they're doing

everything in US dollars, the spending

dollars and so forth. So I don't know

that's really a profit. In Q2, let's

read on. In Q2 2025, net income of $12.3

million

was driven by one, a large unrealized

foreign exchange gain of $30 million on

US dollar items. Ah, so that's

interesting. They got assets of the USA,

let's call it land or machinery maybe, I

don't know, or drilling equipment. And

because the dollar has gone up or the

Canadian dollar's gone down, they're

claiming that they made a profit because

the machines or the land is worth more.

Interesting. Except of course they

haven't sold it. So not a realized

profit.

So it's a large unrealized foreign

exchange gain. Foreign exchange gain on

US dollar items. and two, $5.9 million

Canadian of other income from flow

through share premium partly offset by

three a non-cash measurement loss on the

secured notes of 20.1 million. That's

interesting. So the previous quarter

they reported a profit on the secured

notes of 16 million. This quarter

they're reporting a loss of 20 million

and four corporate costs of 5 million

and five a tax recovery of 2 million.

Well, you only get a tax recovery when

you made a loss. So though they're

saying they made a profit, they've

recovered tax presumably claiming to

have made a loss to the tax man. So

the main source of this is the

unrealized foreign exchange gain of 30.6

6 million

and this other thing 5.9 million from

flow through share premium. I think that

what that means is when investors buy

shares uh from the company directly and

they pay more than the shares are worth

that as they spend that money on um

searching for gold. They can call the

amount they spent for searching for the

gold as a profit because shareholders

paid a premium to buy the shares. It's

nonsense accounting, but uh it's legal,

of course, and probably required by the

law, but um it's not as far as I'm

concerned as an investor any sort of

profit at all. So, let's just finish

this off is just a line. Now, again, no

operating mining profit, just movements

in note valuation. So, note goes up,

goes down, goes up, goes down. Movements

in forex and financing related for

dollar goes up, dollar goes down, dollar

goes up. and they're calling all those

profits or losses. See the company's Q2

management discussion and analysis

table and notes especially note 9 and

news rel highlighting the secured note

reme-measurement effect.

So there you have it. I am very glad I

used chat GPT to study this because

first of all it saved me a lot of time

reading it up myself and two if I'd been

lazy and not bothered reading it I might

have bought the shares so it's one saved

me from buying something which doesn't

meet my criteria of digging up gold and

making a profit and two it's saved me a

lot of time so I can now move on to the

next one really quickly and I think

we're maybe no more than 20 minutes into

this video if if that at all so you can

see how quickly you can research a

company which would have taken hours and

hours in the past. So ladies and

gentlemen, thank you very much for

watching this. Uh you know what to do if

you like it. You know what to do if you

want to have more videos about how to

choose investments or how to use your

investment skills or how to use AI.

Well, it's like, subscribe, and I'll be

very happy to try and answer some

questions if there are any in the next

few hours. Thank you very much everybody

and bye-bye for now.