Investment Portfolio


Corsa Coal Corp

Corsa Coal Corp

Corsa Coal Corp. (“Corsa”) is publicly-listed (TSX-V: CSO) supplier of premium-quality metallurgical coal, an essential ingredient in the production of steel. Corsa’s core business is supplying metallurgical coal with the highest safety, yield, and strength characteristics to domestic steel producers while being a strategic source of supply in the Atlantic and Pacific basin markets.

Corsa’s competitive strengths include:

  • A large reserve base of premium quality coal
  • A diverse group of customers in North America, Europe and Asia
  • Existing low cost operations
  • Significant transportation optionality to reduce delivered costs to customers
  • Attractive organic growth prospects

Public/private Fair Value SRH Ownership
Public - TSX-V: CSO $42.2MM 17.2%1

For more information, please visit http://www.corsacoal.com/

As at 12/5/2016

115.8% on a diluted basis taking into account redeemable units in Wilson Creek Energy held by affiliates of Quintana


InPlay Oil Corp.

InPlay Oil Corp.

InPlay Oil Corp. (“InPlay”) is a publicly listed (TSX: IPO) light oil development and production company based in Calgary, Alberta. The recent business combination of InPlay and Anderson Energy Inc. has created a sustainable, well-capitalized company with a focused portfolio of efficient, light oil focused assets. InPlay’s activity is concentrated primarily in the Cardium Formation in Alberta, where the company is focused on large oil in place pools with low recovery factors, low declines, and long life reserves. InPlay has a strong balance sheet that allows the company to weather commodity volatility and develop its extensive inventory of horizontal drilling locations.

InPlay’s key attributes to support organic growth to intermediate status include:

  • Low operating cost structure
  • High netback production base
  • Focused on large oil in place pools with low declines and long life reserves

Public/private Fair Value SRH Ownership
Public - TSX: IPO $13.7MM 11.4%

For more information, please visit http://www.inplayoil.com/

As at 12/5/2016

R.I.I. North America

R.I.I. North America

RII is a private energy technology company based in Calgary, Alberta. RII owns the intellectual property in and to the patented Solvent Thermal Resource Innovations Process ("STRIP") for North America. The STRIP process allows for insitu steam generation for enhanced oil recovery ("EOR") opportunities.

Public/private Fair Value SRH Ownership
Private $5.2MM 15.7%

For more information, please visit http://www.riina.ca/

As at 9/30/2016

Union Agriculture Group

Union Agriculture Group

Union Agriculture is a diversified agribusiness firm that owns and manages over 139,000 hectares of farmland in Uruguay. Through its subsidiaries Union Agriculture also raises livestock for sale, is involved in the logistics business through the ownership and operation of silo facilities and vehicles, and participates in local and international trading markets by originating grain from more than 100 producers in Uruguay.

Public/private Fair Value SRH Ownership
Private $17.0MM 6.3%

For more information, please visit http://www.unionagrogroup.com/

As at 9/30/2016

One Earth Farms

One Earth Farms

One Earth Farms Corp. (“OEF”) is a privately held Toronto, Canada based, vertically integrated branded food business focused on natural and organic meats and other value-added branded products.

Public/private Fair Value SRH Ownership
Private $14.0MM 49.9%

For more information, please visit http://www.oneearthfarms.com/

As at 9/30/2016

Lac Otelnuk Project

Lac Otelnuk Project

The Lac Otelnuk iron ore project, located in the Labrador Trough in Quebec, is the largest iron ore deposit in Canada. The project has a defined resource of 27.48 billion tonnes and could produce ~50 million tonnes per annum with a concentrate grade of 68.0% Fe.

Public/private Fair Value SRH Ownership
Private Joint Venture $6MM 40%
As at 9/30/2016

Sprott Resource Holdings may, from time to time, have other investments in public and private securities. For a summary of such other holdings, please refer to the financial statements and Management’s Discussion and Analysis (“MD&A”) for the most recently completed quarter.



Completed Investments


Investment Total Capital Invested Realized Proceeds
Gold Bullion $75.6MM $100.6MM
PBS Coals $55.0MM $240.6MM
Silver Bullion $22.7MM $32.9MM
Waseca Energy Inc. $44.2MM $111.7MM
Stonegate Agricom Ltd. $34.4MM $51.6MM
Long Run Exploration Ltd. $154.7MM $86.7MM

Selected investments completed by Sprott Resource Corp. prior to a business combination with Adriana Resources Inc. that formed Sprott Resource Holdings Inc.