Sprott Resource Corp Ord SCPZF

Jennings Capital - Initiating Coverage (Buy, Targe

[idiosyncratic]

Jennings CapitalAugust 30, 2011INITIATING COVERAGESummary – SCP provides compelling exposure to private companies in the natural resource space, specifically oil and gas, agriculture and mining. SCP’s management team and board have a proven track record and continue to see more deal flow in the resource sector than perhaps most investors in the world. SCP and its investees are well capitalized and predominantly geographically located in areas with very accommodating policies toward resource investment. We are initiating coverage on Sprott Resource Corp. with a BUY recommendation and $6.25 12-month price target.