Symbol changed to RYSMF RYSME

Sprott still in for 16M shares

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UNITED STATES

UNITED STATES

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


SCHEDULE 13G/A

Under the Securities Exchange Act of 1934
(Amendment No. 5)


Royal Standard Minerals Inc.
(Name of Issuer)

Common Shares
(Title of Class of Securities)

780919106
(CUSIP Number)

December 31, 2009
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
{ }Rule 13d-1(b)
{ X }Rule 13d-1(c)
{ }Rule 13d-1(d)

CUSIP No. 780919106
.......................................

1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

Sprott Asset Management LP
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) { }
(b) {X}
________________________________________________________________________________
3. SEC USE ONLY


________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION

Ontario, Canada
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER

SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER

OWNED BY 9,865,380
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER

REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER

WITH 9,865,380
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

9,865,380
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

{_}
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

11.8%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*

IA
________________________________________________________________________________


CUSIP No. 780919106
.......................................

1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

Sprott Canadian Equity Fund
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) { }
(b) {X}
________________________________________________________________________________
3. SEC USE ONLY


________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION

Ontario, Canada
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER

SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER

OWNED BY 5,813,097
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER

REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER

WITH 5,813,097
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,813,097
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

{_}
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

6.9%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*

OO
________________________________________________________________________________



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Item 1.

(a) Name of Issuer: Royal Standard Minerals Inc.

(b) Address of Issuer's Principal Executive Offices:
3258 Mob Neck Road, Heathsville, VA 22473


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Item 2.

(a) Name of Person Filing:
Sprott Asset Management LP
Sprott Canadian Equity Fund

(b) Address of Principal Business Office:
Sprott Asset Management LP:
Suite 2700, South Tower, Royal Bank Plaza, Toronto, ON M5J 2J1
Sprott Canadian Equity Fund:
Suite 2700, South Tower, Royal Bank Plaza, Toronto, ON M5J 2J1

(c) Citizenship:
Sprott Asset Management LP: Canada
Sprott Canadian Equity Fund: Canada

(d) Title of Class of Securities: Common Shares

(e) CUSIP Number: 780919106


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Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:

(a) { } Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).

(b) { } Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c).

(c) { } Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).

(d) { } Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).

(e) { } An investment adviser in accordance with ss. 240.13d-1(b)(ii)(E).

(f) { } An employee benefit plan or endowment fund in accordance with
ss. 240.13d-1(b)(1)(ii)(F).

(g) { } A parent holding company or control person in accordance with
ss. 240.13d-1(b)(1)(ii)(G).

(h) { } A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813).

(i) { } A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3).

(j) { } Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).


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Item 4. Ownership

(a) Amount Beneficially Owned:
Sprott Asset Management LP: 9,865,380
Sprott Canadian Equity Fund: 5,813,097

(b) Percent of Class:
Sprott Asset Management LP: 11.8%
Sprott Canadian Equity Fund: 6.9%

(c) Number of shares as to which such person has:

(i) Sole power to vote or to direct the vote:
Sprott Asset Management LP: 0
Sprott Canadian Equity Fund: 0

(ii) Shared power to vote or to direct the vote:
Sprott Asset Management LP: 9,865,380
Sprott Canadian Equity Fund: 5,813,097

(iii) Sole power to dispose or to direct the disposition of:
Sprott Asset Management LP: 0
Sprott Canadian Equity Fund: 0

(iv) Shared power to dispose or to direct the disposition of:
Sprott Asset Management LP: 9,865,380
Sprott Canadian Equity Fund: 5,813,097


Return to Navigational Table of Contents
Item 5. Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following. { }


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Item 6. Ownership of More than Five Percent on Behalf of Another Person:

N/A


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Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company:

N/A


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Item 8. Identification and Classification of Members of the Group:

N/A


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Item 9. Notice of Dissolution of Group:

N/A


Item 10. Certification:

By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in
connection with or as a participant in any transaction
having that purpose or effect.




SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


January 26, 2010
------------------
Date

SPROTT ASSET MANAGEMENT LP,
by its General Partner,
SPROTT ASSET MANAGEMENT GP INC.


By: _____________________________
Name: /s/ Steven Rostowsky
Title: Chief Financial Officer


Sprott Canadian Equity Fund,
by its Investment Manager,
SPROTT ASSET MANAGEMENT LP


By: _____________________________
Name: /s/ Steven Rostowsky
Title: Chief Financial Officer