Sprott Inc. announces 2011 second quarter results

About this update from Sprott Inc.

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Aug. 11, 2011 /CNW/ - Sprott Inc. (TSX: SII) (\"Sprott\" or the\n \"Company\") today announced its financial results for the three and six\n month periods ended June 30, 2011.\n\n\nQ2 2011 Highlights\n\n\nAssets Under Management (\"AUM\") were $9.3 billion as at June 30, 2011,\n compared to $5.5 billion as at June 30, 2010 and $9.7 billion as at\n March 31, 2011\n\n\nManagement Fees were $37.2 million, an increase of 53.8% compared with\n the second quarter of 2010\n\n\nBase EBITDA was $18.1 million ($0.11 per share), compared with $10.3\n million ($0.07 per share) in the second quarter of 2010, an increase of\n 76.4%\n\n\nEBITDA was $14.6 million ($0.09 per share), compared with $11.4 million\n ($0.08 per share) in the second quarter of 2010, an increase of 28.3%\n\n\nNet income decreased by 3.6% to $7.5 million ($0.04 per share), from\n $7.8 million ($0.05 per share) in the second quarter of 2010\n\n\nSprott Physical Gold Trust completed US$341 million follow-on offering\n\n\nLaunched Sprott Silver Bullion Fund\n\n\nSubsequent events:\n\n\nSprott Strategic Fixed Income Fund completed $220 million Initial Public\n Offering\n\n\nSprott Physical Gold Trust completed US$306 million follow-on offering\n\n\nPaul Meehl named CEO of the Global Resource Investments, Ltd.\n\n\n\"We recently reached a significant milestone in the evolution of our\n organization, with the assets under management of the Sprott Group of\n Companies surpassing $10 billion,\" said Peter Grosskopf, CEO of Sprott.\n \"The continued growth of our business has been driven by the\n introduction of new products and the expansion of our successful line\n of bullion funds, which together have raised more than $600 million,\n year-to-date.\"\n\n\n\"Broadening our product lineup remains a top priority and we are pleased\n with investor response to our line of fixed-income products, which we\n launched in 2010,\" continued Mr. Grosskopf. \"We recently added to this\n product suite through the successful launch of the Sprott Strategic\n Fixed Income Fund, which raised more than $220 million in gross\n proceeds through its Initial Public Offering in July.\"\n\n\n\"While the correction in the price of precious metals and related\n equities impacted the performance of some of our funds during the\n second quarter, both gold and silver have recovered rec...

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