Sprott Inc. (SII) sold 14,868,200 common shares of Amex Exploration Inc. for $4.00 per share, generating $59,472,800 in proceeds on December 17 2025. The sale reduced Sprott’s beneficial ownership from roughly 10.5 % of Amex’s outstanding shares to 0.3 % of the partially‑diluted share base, leaving the company with only warrants that represent a 0.3 % stake. The transaction also ended Sprott’s status as an insider of Amex Exploration.
The divestiture follows Sprott’s 2024 financial results, in which the company reported revenue of $178.66 million and earnings of $49.29 million, a 10 % increase in AUM to $31.5 billion as of December 31, 2024. The strong performance underscored Sprott’s focus on precious metals and critical materials, and the sale signals a deliberate shift away from direct early‑stage mining investments.
Management explained that the move aligns with Sprott’s strategy to concentrate resources on its core asset‑management business, which includes ETFs and managed funds that invest in precious metals, uranium, and critical materials. By divesting from Amex, Sprott can allocate capital and attention to areas where it has established expertise and market leadership.
Amex Exploration remains active on its Perron Gold Project in Quebec, where it has identified high‑grade gold zones. The divestiture did not alter Amex’s operational plans; instead, it coincided with Eldorado Gold’s increased stake in Amex to 27 %, indicating continued investor interest in the junior miner.
While no specific market reaction data were found, the transaction reflects a broader trend of asset managers tightening exposure to high‑risk exploration assets in favor of more liquid, portfolio‑level investments. The sale is expected to streamline Sprott’s balance sheet and reinforce its positioning in the precious‑metals asset‑management space.
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