Our stake in Corsa is worth 36.98M or around .36 cents and our stock price is at .51.
TORONTO, Oct. 26, 2016 -- Sprott Resource Corp. (“SRC”) (TSX:SCP) announced today that pursuant to a private placement, through Sprott Resource Partnership (“SRP”), it purchased 10,000,000 common shares of Corsa Coal Corp. (“Corsa”) (TSXV:CSO) at a price of $0.10 per share. Based on information contained in documents publically filed by Corsa, the common shares purchased represents approximately 0.5% of the total issued and outstanding common shares of Corsa. Following the acquisition, SRC beneficially owns, through SRP, 324,895,302 common shares of Corsa, which represents approximately 17.2% of the total issued and outstanding common shares.
SRC acquired, through SRP, beneficial ownership of the common shares for investment purposes. SRC may, directly or indirectly, purchase, and subsequently sell, securities of Corsa in the future on the open market, in private transactions or otherwise, depending on market conditions and other factors material to the investment decisions of SRC.