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May 28, 2024 5:55 PM EDT | Source: Eric Sprott Toronto, Ontario--(Newsfile Corp. - May 28, 2024) - Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 3,000,000 common shares (Shares) of Summa Silver Corp., over the TSX Venture Exchange (representing approximately 2.8% of the outstanding shares on non-diluted basis) at a price of $0.40 per share for aggregate consideration of $1,200,000. The acquired Shares were purchased in reliance on the nor ...

Vancouver, British Columbia--(Newsfile Corp. - May 28, 2024) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF) (the "Company" or "Aftermath Silver") is pleased to announce that 7,914,398 of the outstanding warrants to purchase common shares of the Company have been exercised recently for cash proceeds to the Company of C$1,989,439.5. This total includes 7,439,898 warrants at $0.25 per common share for aggregate consideration of $1,859,975 exercised by 2176423 Ontario Ltd., a corporation beneficially owned ...

(Kitco News) - Despite its criticism of being an outdated relic, billionaires appear to be taking a new interest in gold. According to updated regulatory filings, Michael Burry's Scion Asset Management is now betting big on precious metals. In the first quarter, Burry bought 444,000 units of the Sprott Physical Gold Trust (PHYS), which is valued at more than $10 million. Scion's PHYS holding represents slightly more than 7% of total holdings. Burry's bet in the precious metal came as gold prices surged to r ...

Sprott Inc. (NYSE:SII) Q1 2024 Earnings Conference Call May 8, 2024 10:00 AM ET Company Participants Whitney George - Chief Executive Officer Kevin Hibbert - Chief Financial Officer John Ciampaglia - Chief Executive Officer, Sprott Asset Management Conference Call Participants Rasib Bhanji - TD Cowen Operator Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Sprott Inc.'s 2024 First Quarter Results Conference Call. At this time, all participants are in listen-only mode. Following ...

Table of Contents Letter to shareholders 2 Management's Discussion and Analysis 4 Consolidated Financial Statements 21 Notes to the Consolidated Financial Statements 26 Dear fellow shareholders, We are pleased to report that during the first quarter of 2024, our Assets Under Management ("AUM") increased by $0.6 billion (2%) to $29.4 billion. Subsequent to quarter-end, on May 6, 2024, AUM stood at $31.2 billion. Net income for the quarter was $11.6 million ($0.45 per share), up 51% from $7.6 million ($0.30 p ...

Financial Performance - The company reported net income of $9.664 million for the three months ended December 31, 2023, compared to $7.331 million for the same period in 2022, representing a 32% increase[75]. - Net income for the year ended December 31, 2023 was $41,799,000, up 137% from $17,632,000 in 2022[3]. - Total net revenues for Q4 2023 were $36,671,000, an increase of 21% compared to Q4 2022's $30,989,000[1]. - Basic earnings per share for the quarter was $0.38, up from $0.29 in the prior year, reflecting a growth of 31.03%[110]. - Total revenues for 2023 increased to $169,021,000, up 16.4% from $145,182,000 in 2022[178]. - Management fees rose to $132,257,000, a 14.7% increase compared to $115,355,000 in the previous year[178]. - The company reported a revenue of $1.4 billion, representing a 20% increase year-over-year[179]. - The company reported a loss on investments of $1,375,000 in 2023 compared to a gain of $10,242,000 in 2022[181]. Assets and Liabilities - Total assets as of December 31, 2023 were $378,835,000, a slight decrease from $383,748,000 in 2022[4]. - Total current assets decreased to $45,056,000 from $76,963,000, a decline of 41.5%[177]. - Total liabilities reduced to $73,130,000, down 31.2% from $106,477,000 in 2022[177]. - The company had $24.2 million outstanding on its credit facility, a decrease from $54.4 million in the previous year, due to a repayment of $30.2 million[112]. - The company’s total contractual obligations as of December 31, 2023, amounted to $50,374,000, with $24,806,000 due within one year[115]. Management and Operational Changes - The strategic exit of non-core businesses, including the legacy asset management business in Korea, was completed, enhancing operational focus[80]. - The company exited its non-core asset management business in Korea, which historically contributed less than 1% to consolidated net income[8]. - The company repurchased 126,353 shares, or 0.49% of its float, for total proceeds of $4.2 million during the year[80]. - The company has completed two strategic acquisitions, enhancing its market position and product offerings[179]. Fundraising and Investments - The company successfully raised $688 million in new AUM through fundraising efforts for a new lending fund and a new streaming fund in its private strategies segment[80]. - The company recognized deferred income tax expense of $1,002,000 in 2023, which was not present in 2022[181]. - Co-investments in funds increased from $73,573,000 in 2022 to $93,528,000 in 2023, reflecting a growth of about 27.1%[234]. Market and Product Development - Five new exchange-listed products were launched in the first quarter, focusing on critical materials for cleaner energy[80]. - The company anticipates benefiting from a constructive operating environment for precious metals and critical materials in fiscal 2024[79]. - New product launches contributed to a 15% increase in sales, with a focus on enhancing user experience[179]. - Market expansion efforts have led to a 25% increase in international sales, particularly in Europe and Asia[179]. Internal Controls and Compliance - KPMG LLP issued an unqualified opinion on the effectiveness of the Company's internal control over financial reporting as of December 31, 2023[170]. - The Company concluded that its Disclosure Controls and Procedures (DC&P) and Internal Control over Financial Reporting (ICFR) were effectively designed and operating as of December 31, 2023[135]. - The Company has established an Independent Review Committee (IRC) to address conflicts of interest in compliance with National Instrument 81-107[138]. Expenses and Compensation - SG&A expenses were $4.2 million in the quarter, up $0.1 million (3%) from Q4 2022, and $17.5 million for the full year, up $1.5 million (9%) from 2022[93]. - Stock-based compensation increased to $20,411,000 in 2023 from $17,041,000 in 2022, reflecting a rise of 13.9%[181]. - Net compensation increased to $5,260,000 for the three months ended December 31, 2023, up from $4,255,000 in the prior year, reflecting a rise of 23.54%[106].

Sprott Inc. (NYSE:SII) Q4 2023 Earnings Call Transcript February 21, 2024 10:00 AM ET Company Participants Whitney George - Chief Executive Officer Kevin Hibbert - Chief Financial Officer John Ciampaglia - Chief Executive Officer-Sprott Asset Management Conference Call Participants Graham Ryding - TD Securities Operator Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Sprott Inc.'s 2023 Annual Results Conference Call. At this time, all participants are in a listen only mode. Fol ...

Financial Performance - Sprott Inc grew Assets Under Management (AUM) by $5.3 billion, reaching $28.7 billion[14] - The company reported net sales of $1.1 billion in 2023[7] - Adjusted base EBITDA for the year 2023 was $71.9 million[18] - Sprott Inc repaid $30.2 million of outstanding debt in 2023, resulting in a loan balance of $24.2 million as of December 31, 2023[34] AUM Composition and Growth - Critical materials represent 53% of the total AUM, precious metals physical trusts & ETFs account for 28%, managed equities funds comprise 10%, and private strategies funds make up 9%[16] - Uranium strategies account for approximately 30% of total AUM as of February 16, 2024[65] - AUM in uranium strategies increased by $5.3 billion from January 1, 2023, to February 15, 2024, representing a 143% growth[23] - Exchange Listed Products AUM grew from $3.6 billion to $23.7 billion[36] Product Development and Flows - Sprott Inc launched 7 new ETFs in the U S and Europe in 2023[7] - The Sprott Physical Uranium Miners Trust (SPUT) AUM increased by $2.9 billion from January 1, 2023, to February 15, 2024[39, 58] - The Sprott Uranium Miners ETF (URNM) AUM increased by $851 million or 103% in 2023[60]

Financial Data and Key Metrics Changes - Assets under management (AUM) increased to $25.4 billion, up $256 million or 1% from June 30, 2023, and up $2 billion or 8% since the end of last year [5][7] - Adjusted base EBITDA was $17.9 million in Q3 2023, up $1 million or 6% from the same period last year, and year-to-date adjusted base EBITDA was $53.1 million, up $209,000 from the same nine-month period last year [9][10] - The company reduced headcount by 27% while increasing AUM and revenue per employee by 64% and 60%, respectively [6] Business Line Data and Key Metrics Changes - Energy transition assets now account for approximately 25% of consolidated AUM, driven by strong performance in uranium investments [5] - The uranium suite of funds grew from $0 to $6.4 billion since June 2021, with a year-to-date gain of 71% in uranium AUM due to strong market performance [14] - Private Strategies AUM was $2.6 billion as of September 30, 2023, with total streaming and royalty AUM now at $1.1 billion [17] Market Data and Key Metrics Changes - The uranium price increased by over 50% year-to-date, driven by increased buying from utilities and geopolitical risks [14][21] - The market share of the Sprott Physical Uranium Trust increased from 54% to 77% since inception, capturing 86% of cumulative dollar inflows [15][22] Company Strategy and Development Direction - The company focused on exiting noncore businesses, resulting in a leaner organization and allowing for a concentrated focus on core growth areas [6][24] - The product suite has expanded from 6 funds in 2021 to 13 funds, with AUM growing from $13 billion to $20 billion, a 52% increase in less than 2.5 years [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future earnings growth and quality, as the exit from noncore businesses allows for a focus on core earnings sources [10] - The company is well-positioned to create value for clients and shareholders with differentiated strategies in precious metals and energy transition [18][24] Other Important Information - The company has seen a shift in its investor base towards younger, more institutional investors, particularly in the uranium sector [49][52] - The company is exploring a limited redemption feature for the Uranium Trust to enhance liquidity and investor confidence [36][38] Q&A Session Summary Question: Dialogue with OSC regarding Uranium Trust redemption feature - Management is in ongoing discussions with the OSC and has submitted proposals regarding the uranium market and a proposed redemption feature [26][27] Question: Monetization of previously unrecorded contingent asset - Not all of the contingent asset has been monetized yet, and management is working towards an expeditious exit [31] Question: Market penetration in Japan - The company has not had significant engagement in the Japanese market, which remains a challenge due to home country bias and concentrated financial institutions [33][34] Question: Changes in investor mix for Private Strategies and other products - The investor base has transformed significantly, with increased institutional engagement, particularly in uranium, and a shift towards younger demographics [48][52]