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Sprott ever-so-close to elusive IPO price

It's taken almost three years, and there are still a few cents left to gain, but Sprott Inc. is on the verge of finally re-reaching its $10 initial public offering price.

That isn't the greatest of feats. But it's better than continuing to plunge. After going public in May, 2008, and raising $200-million, the stock tanked to a low of $2.61 in November of that year. Talk about bad timing.

For about two years the stock chart moved sideways, and then exploded in July, 2010. If you had bought in around Canada Day last year and held the stock until now, you would have earned a 185 per cent return.

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On the back of strong fourth quarter earnings Sprott's stock is up 5 per cent today to $9.74.

The company is now led by Peter Grosskopf, who has scooped up three California-based natural resource investment managers since taking control. Mr. Grosskopf is particularly interested in grabbing U.S. investors' attention. "There are a lot of high-net-worth investors in the U.S. who are increasingly nervous about holding the bulk of their investments in U.S. dollar-denominated securities," Mr. Grosskopf told The Globe a few months back.

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About the Author
Reporter and Streetwise columnist

Tim Kiladze is a business reporter with The Globe and Mail. Before crossing over to journalism, he worked in equity capital markets at National Bank Financial and in fixed-income sales and trading at RBC Dominion Securities. Tim graduated from Columbia University's Graduate School of Journalism and also earned a Bachelor in Commerce in finance from McGill University. More

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