Sprott Resource Corp. Third Quarter Conference Call November 13, 2014
Speakers Steve Yuzpe Chief Executive Officer Michael Staresinic Chief Financial Officer Sprott Resource Corp. 3
Last 12 Months In the last 12 months, management has: Stabilized balance sheet Repositioned portfolio Increased commitment to transparency and communication Accelerated development of business through high-level of investment…
Significant Accomplishments Completed disposition of gold bullion holdings for gross proceeds of approximately US76.1MM Sale price was US1271 per oz vs. current price of US1165 Completed Oil & Gas Royalty investment Cash flowing…
Business Update Maintained high level of investment activity in Q3 and subsequent to quarter end: Completed investment in Corsa Coal Continued to fund Oil & Gas royalty investment ICD completed US115 IPO on NYSE OEOG follow-on…
Investment Portfolio* Energy & Energy Services Mining Agriculture (220MM) (80MM) (90MM) Long Run Exploration Ltd. Corsa Coal Corp. One Earth Farms Corp. 99.8 MM INVESTED 36.4 MM INVESTED 60.9MM INVESTED 11.9% OWNERSHIP 19.9*% OWNERSHIP…
Energy Holdings Well-Positioned LRE Production balanced between liquids and natural gas Management aims to preserve the current dividend and maintain fourth quarter 2014 production through 2015 InPlay 91% of production is light…
Summary of Financial Information millions (except for per share amounts) Q3 2014 Q4 2013 Net Asset Value (NAV) 366 366 NAV per share 3.73 3.71 Sprott Resource Corp. 9
Balance Sheet in millions Net Asset Value NAV of 366MM or 3.73 per 400 share 350 Cash of 7.1MM as of September 30, 2014 300 20MM undrawn debt facility 250 Continued commitment to share 200 buyback 150 100 Q3/2014…
Income Statement millions (except for per share amounts) Q3/2014 Q3/2013 Investment income (10.3) 54.6 Expenses General and administrative expenses net of foreign 0.2 1.1 exchange gains on cash balances Management fees and…
Access to Capital Secured 20MM revolving credit facility from Sprott Resource Lending 18-month term with an annual interest rate of 7% for the first year and an annual interest rate of 8% thereafter SRC has the option to capitalize…
Outlook Despite the recent sell-off and volatility, we remain long-term believers in the energy sector FX and reduced differentials have helped mitigate impact on Canadian producers We believe price recovery will eventually be led…
Summary Portfolio companies continuing to advance business plans despite challenging resource markets Deal flow remains strong Committed to continuing to support investee companies, where appropriate, to create value for…
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