Sprott Inc. (SII) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to SPROT, Inc.' 's 2025 Second Quarter Results Conference Call. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question and answer session. Instructions will be provided at that time for you to queue up for questions. As a reminder, this conference is being recorded today, August 6, 2025. I would now like to hand the conference over to your first speaker today, Mr. Whitney George. Please go ahead. Good morning, everyone, and thanks for joining us today. I'm starting on slide three. On the call with me today is our CFO, Kevin Hibbert, and John Chapaglia, CEO of Sprott Asset Management. As you can see from slide three, all the turmoil has not aged us a bit. Our 2025 second quarter results were released this morning and are available on our website where you can also find the financial statements and MD&A. Slide four. 2025 continues to be an eventful year. Since the April 2nd Liberation Day tariff announcements, we have witnessed extreme volatility in all markets. A 20% correction in the S&P 500 index followed by a full recovery to new highs in one quarter is extreme. but not unexpected. As I noted in this quarter's letter to shareholders, we expect more of the same going forward. In the short term, we don't know what comes next, and we will avoid making any predictions. Turning now to a report that our assets under management increased by $5 billion in the second quarter to $40 billion. Net sales continue to accelerate during the quarter due to the rising interest in multiple metals. In addition to strong ATLs in our Metals Physical Trust, we also completed two capital raises in the Sprott Physical Uranium Trust, which John will speak to m...