bg-truck

SPROTT RESOURCE CP (OTCMKTS:SCPZF) Announces Annual Results For 2014

2014 witnessed a huge surge in the market conditions, which prompted quite a few companies to take some brave moves to ensure higher growth in 2015. Amongst many such companies, SPROTT RESOURCE CP (OTCMKTS:SCPZF) has also announced its annual results with complete focus on exploring better growth prospects in the current year.

Insights On Financial Results:

Overall it was a decent year for Sprott Resource. Total net asset value of the company was $227.7 million on December 31, 2014 as compared to $366.2 million on December 31, 2013. The volatile market conditions and unexpected negative growth in the stock market led the company to face a plunge in NAV. 4Q2014 didn’t prove that good for Sprott as it experienced net loss of $137.9 million during the last three months of 2014 as compared to $27.6 million net loss in 4Q2013. The primary reason for this huge surge was nothing but the decision regarding investments in the energy related field. It proved to be a big mistake as Sprott had to face huge loss in energy fields. Apart from this, it also had a number of unrealized loans which added up to the total loss of the company.

It completed the total SRC worth $14.8 million in various new investments during the fourth quarter of the previous year. According to reports, SRC got total credit facility of $20 million from Sprott Resource Lending Corp., which is nothing but an arm of the Sprott Corp. Management of the company feels that there were a lot of price ups and downs in the previous quarter as well as the starting of 2015. The downturn affected the company in an adverse way a and resulted in total loss.

According to Steve Yuzpe, CEO and President of the company, a few downturns in the previous years’ last quarter, which affected the company in a negative manner.

Related News

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyrıght 2015 traders350.com. All RIGHTS RESERVED.