12:34 PM EST - Sprott Resource Corp. : reported second quarter net earnings of $6.96 million or $0.11 per share. The company said net earnings include $4.99 million in equity earnings of PBS Coals Corporation and $3.17 million in gains on the sale of investments. The company also made an additional investment of US$23.96 million in PBS Coals in the quarter, which increased the company's holdings in PBS shares to about 44.19 million. Subsequent to the end of the quarter, the company said it sold into escrow 17.05 million of PBS shares for gross proceeds of about $102.3 million, and these proceeds are expected to be fulfilled by the end of August. Sprott Resource Corp.
shares T.SCP are trading down 18 cents at $2.91.
