Sprott sees PE deal opportunities in decline of resource valuations
Steve Yuzpe, president and CEO of Sprott Resource Corp (TSX: SCP), said he sees "exceptional investment opportunities" in resource sectors in the upcoming year, in part due to a roughly 65% decline in valuations since 2011. For this reason, the private equity firm plans to this year accelerate new capital deployment through increased investment activity and collaboration with the Sprott Group of Companies, and add expertise to its core investment team. Sprott Resource estimated it had a net asset value of up to $370 million at the end of last year. The firm also announced that in Dec. 2013 it committed $5 million for a royalty interest in a number of wells to be drilled by a Calgary-based company that explores, develops and produces oil and natural gas in northwestern Alberta.
