Financial Data and Key Metrics Changes - In Q4 2024, the company's AUM decreased by 6% to $31.5 billion from $33.4 billion in the previous quarter, but increased by 10% from $28.7 billion at the end of 2023 [12] - Net income for Q4 was $11.7 million, up 21% from $9.7 million in the same period last year, and full-year net income was $49.3 million, up 18% from $41.8 million [14] - Adjusted base EBITDA for Q4 was $22.4 million, up 19% from $18.8 million year-over-year, and full-year adjusted base EBITDA was $85.2 million, up 18% from $71.9 million [15] Business Line Data and Key Metrics Changes - Managed equity strategies performed well, with certain funds generating performance fees, despite a 9.3% decline in the flagship gold equity fund in Q4 [31] - The private strategies segment had AUM of $2.3 billion as of December 31, 2024, with ongoing monitoring of investments [33] Market Data and Key Metrics Changes - The company experienced strong AUM growth in 2024, driven by rising precious metal prices and nearly $700 million in net sales, primarily in exchange-listed products [9] - The spot uranium price saw a material correction, closing the year down 19.7%, while copper prices fell 20% from their peak [37] Company Strategy and Development Direction - The company plans to continue expanding its exchange-listed product offerings, having launched three critical mineral strategies in 2024 and two new precious metals ETFs in 2025 [39] - The focus on physical ownership of precious metals is emphasized as a key strategy, especially in light of recent market turmoil [41] Management's Comments on Operating Environment and Future Outlook - Management noted that rising precious metals prices were the main driver of asset growth in 2024, a trend that has continued into early 2025 [34] - Concerns over potential tariffs on precious metals have created premium prices in the US market, indicating a need for adaptation in the physical markets [36] Other Important Information - The company became debt-free in Q4 2024 and raised its quarterly dividend by 20% in November [10][16] - The company is committed to returning excess cash flow to shareholders through dividends and share repurchases [82] Q&A Session Summary Question: Expectations for the uranium market and spot prices - Management indicated that uncertainties regarding tariffs and geopolitical factors are creating downward pressure on uranium spot prices, with a lack of clarity expected to persist for the next couple of quarters [50][51] Question: Demand for an ETF focusing on material producers in friendly geographies - Management acknowledged that tariffs could incentivize reshoring of uranium and copper mining in the US, potentially giving local producers a cost advantage [54] Question: Trends in comp ratio for 2025 - Management suggested that the comp ratio is expected to remain in the mid- to high-40% range through 2025 [58] Question: Geographic demand for physical gold ETFs - Management noted that there has been renewed interest in gold products, particularly from US institutions, as they reassess risks in their portfolios [66] Question: Flows for Q1 2025 - The Physical Gold Trust is seeing the most traction and global flows, with expectations for continued interest in gold and silver products [85][87]

2024 Annual Results February 26, 2025 NYSE/TSX:SII Forward-looking Statements Sprott Inc. | 2 Speakers Whitney George, CEO, Sprott Inc. Kevin Hibbert, CFO, Sprott Inc. John Ciampaglia, CEO, Sprott Asset Management Sprott Inc. | 3 2024 Review Certain statements in this presentation or the accompanying oral remarks contain forward-looking information and forward-looking statements (collectively referred to herein as the "Forward-Looking Statements") within the meaning of applicable Canadian and U.S. securitie ...

Financial Performance - As of December 31, 2024, the Company reported a net income of $11.68 million for the three months ended, compared to $9.66 million for the same period in 2023, representing a 21% increase[86]. - The adjusted base EBITDA for the twelve months ended December 31, 2024, was $85.16 million, up from $71.89 million in 2023, reflecting an increase of 18%[86]. - The net income margin for the twelve months ended December 31, 2024, was 28%, consistent with the previous year[86]. - The Company reported net revenues of $64.5 million for the three months ended December 31, 2024, compared to $40.3 million for the same period in 2023, indicating a 60% increase[86]. - Total net revenues for the year ended December 31, 2024 were $178.655 million, an increase from $151.367 million in 2023[96]. - Net income for the year ended December 31, 2024 was $49.294 million, compared to $41.799 million in 2023[96]. - Basic net income per share rose to $1.94 in 2024, compared to $1.66 in 2023, marking an increase of 16.8%[199]. - Total revenues for the year ended December 31, 2024, were $178,655 thousand, representing an increase of 18% compared to $151,367 thousand in 2023[199]. Assets and Liabilities - Total assets as of December 31, 2024 were $388.798 million, up from $378.835 million in 2023[97]. - Total liabilities as of December 31, 2024 were $65.150 million, down from $73.130 million in 2023[97]. - AUM ended the year at $31.5 billion, down 6% from $33.4 billion as of September 30, 2024, but up 10% from $28.7 billion as of December 31, 2023[98]. - Average AUM for the year was $33.401 billion, compared to $31.788 billion in 2023[98]. - Total current assets increased significantly to $79,188 thousand in 2024 from $43,578 thousand in 2023, representing an increase of approximately 81.7%[198]. - Total shareholders' equity rose to $323.6 million, up 6% from $305.7 million as of December 31, 2023[112]. Cash Flow and Investments - Cash provided by operating activities rose significantly to $69,152,000 in 2024, compared to $29,861,000 in 2023, marking an increase of about 131.5%[201]. - Cash provided by investing activities improved to $24,515,000 in 2024 from $4,607,000 in 2023, reflecting a substantial increase of approximately 431.5%[201]. - Cash and cash equivalents at the end of the year reached $46,834,000 in 2024, up from $20,658,000 in 2023, indicating a growth of about 126.5%[201]. - The company experienced a net increase in cash and cash equivalents of $26,176,000 in 2024, compared to a decrease of $31,020,000 in 2023[201]. - The company’s investment activities included a purchase of investments totaling $13,405,000 in 2024, down from $25,474,000 in 2023, indicating a decrease of approximately 47.4%[201]. Dividends and Shareholder Returns - The company declared total dividends of $27.15 million in 2024, compared to $25.9 million in 2023[128]. - Dividends paid increased to $27,147,000 in 2024 from $25,847,000 in 2023, representing a rise of approximately 5%[201]. Risk Management and Internal Controls - Management has evaluated the effectiveness of internal controls over financial reporting as of December 31, 2024, concluding that no material weaknesses were identified[177]. - The independent auditors, KPMG LLP, expressed an unqualified opinion on the effectiveness of the Company's internal control over financial reporting as of December 31, 2024[182]. - The Company has implemented a comprehensive enterprise risk management program to identify and evaluate risks in alignment with its risk appetite[164]. - The Company is exposed to liquidity risk primarily through fluctuations in cash flows from capital calls and distributions, which are actively monitored[151]. Product and Market Development - The Company launched the Sprott Physical Copper Trust on June 6, 2024, raising gross proceeds of $110 million, and established an ATM equity program to issue up to an additional $500 million of trust units[90]. - The Company expanded its product offerings with the launch of the Sprott Copper Miners ETF and the Sprott Junior Uranium Miners UCITS ETF in 2024[91]. - The Company is focused on developing new exchange-listed and actively-managed critical materials strategies to capitalize on long-term trends in the market[92]. Compensation and Expenses - The company reported a net compensation ratio of 44% for Q3 2024, down from 46% in Q2 2024[1]. - SG&A expenses for the quarter were $4.9 million, up 25% from $4 million in the previous quarter, and $18.8 million for the full year, up 13% from $16.6 million[106]. - Management fees for the quarter were $41.4 million, up 20% from $34.5 million in the previous quarter, and $155.3 million for the full year, up 17% from $132.3 million[102]. Shareholder Equity and Stock Options - The total number of shares outstanding increased from 25,410,151 at December 31, 2023, to 25,814,859 at December 31, 2024, reflecting an increase of approximately 1.6%[263]. - The stated value of capital stock increased from $434.8 million at December 31, 2023, to $450.1 million at December 31, 2024, representing a growth of approximately 3.5%[263]. - The contributed surplus increased from $35.3 million at December 31, 2023, to $36.3 million at December 31, 2024, indicating a rise of approximately 2.8%[264]. - As of December 31, 2024, there are 12,500 stock options outstanding with a weighted average exercise price of CAD$27.30 and 1.4 years remaining on their contractual life[268].

TORONTO, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Sprott Inc. (NYSE/TSX: SII) (“Sprott” or the “Company”) today announced its financial results for the year ended December 31, 2024. Management commentary "Sprott’s Assets Under Management (“AUM”) ended the year at $31.5 billion, down 6% from $33.4 billion as at September 30, 2024, but up 10% from $28.7 billion as at December 31, 2023. 2024 was our seventh consecutive year of double-digit AUM growth and, subsequent to year-end, as at February 21, 2025, AUM had furt ...

Core Points - Sprott Inc. has declared a fourth quarter 2024 dividend of US$0.30 per common share, payable on March 25, 2025 [1] - The dividend will be paid in Canadian dollars for registered shareholders in Canada and in U.S. dollars for registered shareholders outside Canada, with options for beneficial holders to elect their currency [2] - The dividend is designated as an eligible dividend for Canadian income tax purposes [3] Company Overview - Sprott is a global asset manager focused on precious metals and critical materials investments, distinguishing itself through in-depth knowledge and specialized investment strategies [4] - The company operates offices in Toronto, New York, Connecticut, and California, and its common shares are listed on both the New York Stock Exchange and the Toronto Stock Exchange under the symbol SII [4]

Group 1 - Sprott Inc. plans to release its 2024 fourth quarter results on February 26, 2025, at 7:00 a.m. ET [1] - An earnings webcast will be hosted at 10:00 a.m. ET on the same day, featuring Sprott's CEO, CFO, and Asset Management CEO [1] - Research analysts covering the company are required to pre-register for the webcast [2] Group 2 - Sprott is a global asset manager specializing in precious metals and critical materials investments [3] - The company employs various investment strategies, including Exchange Listed Products, Managed Equities, and Private Strategies [3] - Sprott operates offices in Toronto, New York, Connecticut, and California, and its shares are listed on both the NYSE and TSX under the symbol SII [3]

Core Viewpoint - Sprott Inc. has launched the Sprott Active Gold & Silver Miners ETF (GBUG), an actively managed ETF aimed at long-term capital appreciation through investments in gold and silver mining companies, as well as royalty and streaming companies [1][2]. Group 1: ETF Overview - GBUG is Sprott's first active ETF, designed to capitalize on the potential catch-up of gold and silver mining stocks, which have historically lagged behind the prices of physical metals [2]. - The ETF combines active management expertise with the flexibility of an ETF structure, offering daily transparency, liquidity, and potential tax efficiency [2]. - The investment strategy of GBUG is value-oriented and contrarian, focusing on long-term business fundamentals and growth potential [1][2]. Group 2: Management Expertise - The investment team managing GBUG has over 100 years of collective experience in metals and mining, conducting more than 200 management meetings annually and periodic site visits to mining operations globally [2]. - Sprott Inc. is recognized for its specialized leadership in precious metals and mining investments, with over four decades of experience in the sector [2]. Group 3: Other Sprott ETFs - GBUG is one of four Sprott Precious Metals ETFs, which also include the Sprott Gold Miners ETF (SGDM), Sprott Junior Gold Miners ETF (SGDJ), and Sprott Silver Miners & Physical Silver ETF (SLVR) [1][2]. - Each of these ETFs has distinct investment strategies aimed at tracking the performance of different segments within the precious metals sector [2].

Group 1 - The Hecht Commodity Report is a comprehensive service covering market movements of over 29 different commodities, providing bullish, bearish, and neutral calls along with actionable trading recommendations [1] - The report offers a free trial and discounts for new subscribers for a limited time [1] - The author has positions in commodities markets, including futures, options, and commodity equities, which can change on an intraday basis [3] Group 2 - The investing group associated with the report provides directional trading recommendations and actionable ideas for traders [2] - The report emphasizes that past performance is not indicative of future results and does not provide specific investment advice [4]

Group 1 - Eric Sprott announced the expiration of 1,111,100 common share purchase warrants of Summa Silver Corp., representing a decrease of approximately 3.6% in holdings on a partially diluted basis [1] - Following the expiration, Mr. Sprott now beneficially owns 19,972,200 Shares and 1,875,000 Warrants, maintaining approximately 16.4% of the outstanding Shares on a non-diluted basis and approximately 17.7% on a partially diluted basis [2] - The expiration of the Warrants resulted in a change in partially diluted ownership of greater than 2%, necessitating an update to the early warning report [2] Group 2 - The securities held by Mr. Sprott are for investment purposes, with a long-term view, and he may acquire additional securities or sell existing ones depending on market conditions [3]

Core Points - Eric Sprott, through 2176423 Ontario Ltd., acquired 700,000 common shares of AbraSilver Resource Corp. at a price of $2.55 per share, totaling $1,785,000 [1] - Following the acquisition, Sprott's total holdings increased to 13,196,300 shares, representing approximately 9.3% of the outstanding shares, a decrease from 9.6% prior to the acquisition [2] - The acquisition led to a reduction in Sprott's holdings by approximately 3.3% since the last Early Warning Report, resulting in him and 2176423 Ontario Ltd. no longer being classified as insiders of AbraSilver Resource [2] Investment Intent - The securities are held for investment purposes, with a long-term view, and Sprott may acquire or sell additional securities depending on market conditions and other relevant factors [3]