Sprott Resource Corp. 2013 Year End Financial Results March 26, 2014
Speakers Steve Yuzpe Chief Executive Officer Michael Staresinic Chief Financial Officer Sprott Resource Corp. 3
2013 Review Steve Yuzpe named CEO in October 2013 Michael Staresinic named CFO in December 2013 Sold remaining gold holdings for 76 million in Q4 Repaid debt and provided SRC with 24 million in cash Bought back 3.7 million shares…
Long Run Exploration Management continues to successfully advance its business plan Declared a 0.402 per share annual dividend in 2013 Positive guidance from LRE management on projected production growth and cash flow from…
Independence Contract Drilling Continues to perform according to plan Eighth rig is close to completion and construction of ninth and tenth rigs is underway All fielded rigs are working in the Permian Basin Delivering…
One Earth Farms Completed the acquisition of Beretta Farms Inc. Named Mike Beretta CEO of OEF OEF announced plans to exit crop operations to focus on cattle and branded food divisions Strategy focused on Farm to Fork food…
Portfolio Investments One Earth Oil & Gas: Continued to advance heavy oil joint venture Completed drilling nine vertical stratigraphic test wells Expanded land interests under JV to approximately 45 sections Stonegate Agricom:…
Summary of Financial Information millions (except for per share amounts) 2013 2012 Total Assets 407 530 Total Equity 385 491 Net Asset Value (NAV) 360 460 Loss attributable to shareholders (85) (57) Sprott Resource Corp. 10
Loss Attributable to Shareholders millions 2013 Corporate segment 65 Agriculture segment 17 Energy segment 3 Loss attributable to shareholders 85 Sprott Resource Corp. 11
Balance Sheet Change in Assets 600 Total assets of 407MM 500 NAV of 360MM or 3.64 per share 400 Shares traded at 36% discount 300 to NAV at year end 200 Paid 30MM in dividends and bought back 3.7MM shares for 100…
Income Statement millions (except for per share amounts) 2013 2012 Total Revenue 46 45 Expenses Corporate segment 65 58 Agriculture segment 74 53 Energy segment 6 7 Income from discontinued operations - Waseca - 14 Loss for…
2014 Objectives Accelerate business through: Increased investment activity Expanded collaboration, where appropriate, with broader Sprott Group Continue to build value in portfolio investments Add energy team members in Calgary…
Outlook Resource markets will take time to recover from downturn 2014 and 2015 should offer compelling opportunities SRC will continue to focus on out-of-favour sectors Currently, the most attractive opportunities are in energy and…
Summary Our goal is to be a leader in resource focused private equity Focus on opportunities across the capital structure to earn equity-like returns with attractive risk/reward profiles Access to significant capital for new…
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