Sprott Inc. announces 2012 year end results

About this update from Sprott Inc.

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, March 28, 2013 /CNW/ - Sprott Inc. (TSX: SII) (\"Sprott\" or the\n \"Company\") today announced its financial results for the year ended\n December 31, 2012.\n\n\n2012 Overview\n\n\n\nAssets Under Management (\"AUM\") were $9.9 billion as at December 31,\n 2012, compared to $9.1 billion as at December 31, 2011 and $10.3\n billion as at September 30, 2012\n\n\n\n\nAssets Under Administration (\"AUA\") were $3.7 billion as at December 31,\n 2012, compared to $4.4 billion as at December 31, 2011\n\n\n\n\nManagement Fees were $118.5 million, a decrease of 19.3% compared with\n the year ended December 31, 2011\n\n\n\n\nBase EBITDA was $52.5 million ($0.31 per share) compared with $69.4\n million ($0.41 per share) for the year ended December 31, 2011, a\n decrease of 24.4%\n\n\n\n\nEBITDA was $59.6 million ($0.35 per share), compared with $64.5 million\n ($0.38 per share) for the year ended December 31, 2011, a decrease of\n 7.5%\n\n\n\n\nNet income was $32.0 million ($0.19 per share) for the year ended\n December 31, 2012, a decrease of 3.2% from $33.0 million ($0.20 per\n share) in the year ended December 31, 2011\n\n\n\n\nRaised US $1.6 billion through follow-on offerings of Sprott Physical\n Gold Trust and Sprott Physical Silver Trust Units\n\n\n\n\nCompleted the initial public offering of the Sprott Physical Platinum\n and Palladium Trust for gross proceeds of US $280 million\n\n\n\n\nFinalized acquisition of Toscana Capital Corporation and Toscana Energy\n Corporation (now \"Sprott Toscana\")\n\n\n\n\nSprott Resource Corp. marked five years in operation with a track record\n that placed it near the top of all resource-focused private equity\n strategies over the same period\n\n\n\n\n\nSubsequent events:\n\n\n\nNamed John Wilson and Scott Colbourne Co-Chief Investment Officers of\n Sprott Asset Management LP\n\n\n\n\nCompleted non-brokered private placement with an institutional investor\n for gross proceeds of $25 million\n\n\n\n\nSigned joint venture agreement to launch new offshore fund with Zijin\n Mining Group Co., Ltd.\n\n\n\n\n\n\"In 2012, precious metals equities traded at increasingly depressed\n valuations over the year, while government stimulus programs pushed\n broader equity indices higher,\" said Peter Grosskopf, Chief Executive\n Officer o...

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