Sprott, Inc. (NYSE:SII) Q2 2023 Earnings Conference Call August 9, 2023 10:00 AM ET
Company Participants
Whitney George - CEO & Director
Kevin Hibbert - Senior Managing Partner, CFO & Co-Head, Enterprise Shared Services
John Ciampaglia - Senior Managing Partner
Conference Call Participants
Geoff Kwan - RBC Capital Markets
Rasib Bhanji - TD Securities
Operator
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Sprott, Inc.'s 2023 Second Quarter Results Conference Call. [Operator Instructions].
As a reminder, this conference is being recorded today, August 9, 2023. On behalf of the speakers that follow, listeners are cautioned that today's presentation and the responses to the questions may contain forward-looking statements within the meaning of the safe harbor provision of the Canadian provisional securities laws. Forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are implied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements.
For additional information about factors that may cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements, please consult the MD&A for the quarter and Sprott's other filings with the Canadian and U.S. securities regulators.
I will now turn the conference over to Mr. Whitney George. Please go ahead, Mr. George.
Whitney George
Good morning, everyone, and thanks for joining us today. On the call with me today is our CFO, Kevin Hibbert; and John Ciampaglia, CEO of Sprott Asset Management. Our 2023 second quarter results were released this morning and are available on our website, where you can also find the financial statements and MD&A.
I'll start on Slide 4. Our assets under management declined slightly during the second quarter due largely to weaker precious metal prices. However, on a 6-month basis, our AUM has increased by $1.7 billion and currently stands at $25.1 billion. We continue to deliver net sales. We continue to deliver net sales during the quarter despite the headwinds in [indiscernible].
In our Private Strategy segment, both our private lending team and our streaming and royalty team recently closed new partnerships with support from both new and existing LPs. While on the surface, it was a relatively quiet quarter, much hard work was occurring beneath the service. Our marketing team continues its high level of output, producing upwards of 30 thought leadership pieces during the quarter. We also recently welcomed Judith O'Connell to the Board of Directors. Judy is a founding partner and CEO of Champlain Investment Partners, a significant Vermont-based employee-owned asset. We look forward to adding her expertise to the Board, particularly in areas like operations, compliance and technology.