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Market: TSX
Sector: Investment Services
Epic: SPROTT
News: Latest news
Web Site: Sprott Asset Management
Other Articles: 22-01-201011-09-200921-04-2009

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Saturday March 13, 09:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

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Sunday March 14, 05:46China's growth boosting commodity prices

With chunky economic numbers from China boosting commodity prices we take a brief look at the country's position in different market places - while noting also that hopes for a recovery in global trade appear to be borne out by freight rates.

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Friday March 12, 08:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

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Sprott Asset Management

Sprott Asset Management

Founded in August 2000, Sprott Asset Management Inc. (SAM) is a private independent fund company, owned by its employees, dedicated to achieving superior returns for its investors over time.
Friday, September 11, 2009

Sprott raises stake in Norseman Gold to 11.6 pct

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Australian gold producer Norseman Gold PLC (AIM: NGL; ASX: NGX) said funds of Sprott Asset Management LP acquired further shares in the company. Sprott now controls 19,879,811 shares, having raised its stake to 11.6 percent from 10.5 percent.

Last week, the miner posted a A$20.4 million maiden net profit for the full year due to rising revenues while operational costs were pushed below the bottom range of the forecast. Revenues were up 36 percent year-on-year at A$96.7 million.

The company plans to increase the reserves at the Norseman mine through exploration drilling from the current 310,000 ounces to 500,000 and ultimately 750,000 ounces over the next two years, seeking to expand the mine life to 10 years from the current minimum of five years.

Norseman is confident about its prospects for the coming year and targeted acquisitions, bolstered by a balance sheet of A$68 million and cash balances of A$32.6 million.

Shares in the group had a good run of late, currently trading in London at around 46.5 pence a share, roughly 50 percent above their level of mid-August and way above January levels, when the stock hovered around the 2-3p mark.

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