The following is a summary of the Sprott Inc. (SII) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Sprott Inc. reported a third-quarter net income of $12.7 million, up 87% from $6.8 million for the same period last year.

• AUM increased by $2.3 billion to $33.4 billion, reaching a record high, with a subsequent growth to $34.2 billion as of November 1.

• The company recorded $589 million in net sales during the quarter, largely in its physical gold and silver funds.

• Adjusted base EBITDA for the quarter was $20.7 million, up 16% from $17.9 million in comparison to the same period last year.

• They expect to be debt-free by the end of the year and raised the quarterly dividend by 20%.

Business Progress:

• Sprott Inc. is launching two new precious metals ETFs expected in the first quarter of 2025.

• The launch of the Physical Copper Trust in the second quarter contributed to AUM growth.

• Experienced the strongest sales momentum in two years with net flows of $617 million, driven largely by gold and silver trusts.

Opportunities:

• Growing popularity and demand for physical gold and precious metals investment.

• Developing new ETFs as expansion of product offerings.

• Leveraging high gold prices and increased central bank purchases to boost gold trading and holdings.

• Expanding client base among institutions, family offices, RIA broker-dealers, and hedge funds.

Risks:

• Potential market volatility following political events such as the U.S. presidential election.

• Uncertainties in gold pricing and demand, especially from key buyers like China.

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