To say Eric Sprott has left a legendary mark on the world of mining investment would be an understatement. With a career spanning five decades, Sprott played an instrumental role in shaping the industry’s landscape and driving the growth of countless mining companies. Sprott stands as a true champion of the mining sector.
Sprott’s influence within the investment community is undeniable. He founded Sprott Securities, now Cormark Securities Inc., and later established Sprott Asset Management LP in 2001.
When asked “who will be the next Sprott, his answer was Crescat Capital!
His ability to uncover the true value of mineral resources and facilitate their journey to successful production became legendary. Sprott’s investments were not just monetary; they were a mark of endorsement, with a “Sprott cheque” becoming synonymous with success in the sector. By 2010, his influence extended to nearly 300 companies, including positions in mining, development, and exploration firms. He was also involved in numerous mergers and takeovers.
Through Sprott’s establishment of the monthly column, “Markets at a Glance,” his guidance enabled Sprott’s clients to amass significant wealth.
Following retirement from the company, Sprott transitioned to a family office investor. He obtained a stake in Kirkland Lake Gold and became its chairman. He oversaw its merger with Crocodile Gold, a move that led to the success of Fosterville gold mine. In 2022 he invested $125.9 million in New Found Gold, an early stage exploration company in Newfoundland and Labrador.
Perhaps most impactful is Sprott’s $50-million donation in support of the Department of Surgery at the University Health Network (UHN), one of the largest donations in UHN history. Eric Sprott personally and the Sprott Foundation, have donated more than $337 million to various charities.
Sprott is considered a lifeline for junior mining companies, transforming them into significant industry players. His commitment, integrity, and unyielding support for even the most ambitious projects define his legacy.
