Sprott Resource Corp. announces current holdings of gold and silver bullion

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[{"type":"text","content":"\n\n\n\nTORONTO, Dec. 15 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")\nannounced today that it has acquired during this quarter 40,475 ounces of gold\nbullion and 852,478 ounces of silver bullion. The balance of SRC's working\ncapital is in short-term government of Canada treasury bills.\n\n\n"We intend to continue to look for attractive investment opportunities to\nallocate our capital while working on building accretive businesses," said\nKevin Bambrough, President and CEO of SRC. "In the interim, we feel it is\nprudent to allocate a portion of our working capital into gold and silver\nbullion. We may allocate a larger portion into gold and silver, or other\nphysical commodities, in the future depending on market conditions."\n\n\nKevin Bambrough continued: "Current yields on short-term government debt\nare approaching, and in certain cases have reached, zero percent. This is\noccurring while governments are assuming liabilities and issuing debt at an\nunprecedented rate. We believe this situation is not sustainable over the\nlonger-term and that global creditors will begin to hoard hard assets, in\nparticular gold and silver, rather than purchase government debt that offers\nlittle nominal yield and is subject to a loss in real value as currencies are\ndebased."\n\n\nAbout Sprott Resource Corp.\n\n\nSRC is a Canadian based company, the primary purpose of which is to\ninvest, directly and indirectly, in natural resources. Through acquisitions,\njoint ventures and other investments, SRC seeks to provide its shareholders\nwith exposure to the natural resource sector for the purposes of capital\nappreciation and real wealth preservation. SRC is well positioned to draw upon\nthe considerable experience and expertise of both its Board of Directors and\nSprott Consulting Limited Partnership (SCLP), of which Sprott Asset Management\nInc. is the sole limited partner. Pursuant to a management services agreement\nbetween SCLP and SRC, SCLP provides day-to-day business management for SRC as\nwell as other management and administrative services.\n\n\nForward Looking Statements\n\n\nCertain statements contained herein may constitute "forward-looking\nstatements" under applicable securities laws. Some of the forward-looking\nstatements may be identified by words such as "intends&qu...

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