# SPROTT GLOBAL RESOURCE INVESTMENTS LTD X-17A-5 (2024-03-26) — Broker-dealer annual report - Company: SPROTT GLOBAL RESOURCE INVESTMENTS LTD - Form: X-17A-5 - Filed: 2024-03-26 - Period: 2023-12-31 - Accession: 0000920792-24-000002 - CIK: 920792 - File #: 8-47039 - Type: Broker-dealer - Material weakness: No - Auditor: KPMG LLP - Auditor location: Toronto, A6 - Contact: Michelle Sath - Phone: 437-522-8235 - Email: msath@sprott.com - Website: sprott.com - Signed by: Michelle Sath (FINOP) Original filing: https://www.sec.gov/Archives/edgar/data/920792/000092079224000002/GRIL2023SFCUploadNew.pdf --- {0}------------------------------------------------ ### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 # ANNUAL REPORTS FORM X-17A-5 PART III FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 AND ENDING\_12/31/23 filing for the period beginning 01/01/23 MM/DD/YY 'MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: Sprott Global Resource Investments, Ltd. TYPE OF REGISTRANT (check all applicable boxes): © Broker-dealer □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | (No. and Street) | | | | | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|------------------------------------------------------------|----|------------------|--------------------------------------------|--| | Carlsbad | | CA | | | 92008 | | | (City) | | (State) | | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | Michelle Sath | 437-522-8235 | | | msath@sprott.com | | | | (Name) | | (Area Code - Telephone Number) | | (Email Address) | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | Bay Adelaide Centre, 333 Bay Street, Suite 4600 T Oronto | | | | ON, Canada | M5H285 | | | (Address) | | (City) | | (State) | (Zip Code) | | | | | | 85 | | | | | (Date of Registration with PCAOB)(if applicable) | | | | | (PCAOB Registration Number, if applicable) | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | | * Claims for exemption from the requirement that the annual reports of an independent public
arrountant much he supported by a statement of facts and circumstances rolled on as the because | | | | | | | nt must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | OMB APPROVAL | | | |---------------------------|--|--| | OMB Number: 3235-0123 | | | | Expires: Nov. 30, 2026 | | | | Estimated average burden | | | | hours per response:
12 | | | sec file number 8-47039 {1}------------------------------------------------ ### OATH OR AFFIRMATION | Michelle Sath | __ swear (or affirm) that, to the best of my knowledge and belief, the | | |-------------------------------------------------------------------------------------|------------------------------------------------------------------------|-------| | financial report pertaining to the firm of Sprott Global Resource Investments, Ltd. | | as of | 12/31 \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. Signature Title: FINOP Notary Public ### This filing\*\* contains (check all applicable boxes): - □ (a) Statement of financial condition. - 1 (b) Notes to consolidated statement of financial condition. - □ (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X), - [ (d) Statement of cash flows. - [] (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - □ (f) Statement of changes in liabilities subordinated to claims of creditors. - ‍ - (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - □ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - □ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - | (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - © (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - ▣ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - © (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - □ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - © (t) Independent public accountant's report based on an examination of the statement of financial condition. - 匡 (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - □ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - 回 {w} Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - 回 (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - □ (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - O (z) Other: - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ ### SPROTT GLOBAL RESOURCE INVESTMENTS, LTD. ### STATEMENT OF FINANCIAL CONDITION AND SUPPLEMENTARY INFORMATION [Expressed in U.S. Dollars] WITH REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM YEAR ENDED DECEMBER 31, 2023 {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) KPMG LLP Bay Adelaide Centre 333 Bay Street, Suite 4600 Toronto, ON M5H 2S5 Canada Tel 416-777-8500 Fax 416-777-8818 # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUTING FIRM To the Partners and the Board of Directors of Sprott Global Resource Investments, Ltd.: ### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Sprott Global Resource Investments, Ltd. (the Partnership) as of December 31, 2023 and the related notes (collectively, the financial statement). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Partnership as of December 31, 2023, in conformity with U.S. generally accepted accounting principles. ### Basis for Opinion This financial statement is the responsibility of the Partnership's management. Our responsibility is to express an opinion on this financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Partnership in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. UPMG LLN Chartered Professional Accountants, Licensed Public Accountants We have served as the Partnership's auditor since 2016. Toronto, Canada March 25, 2024 {4}------------------------------------------------ ### SPROTT GLOBAL RESOURCE INVESTMENTS, LTD. STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2023 ### ASSETS | Cash | ಕೆ | 2,747,705 | |--------------------------------------------------|------|-----------| | Cash and cash equivalents at clearing broker | | 1,548,296 | | Securities owned, at fair value (Note 3) | | 70.758 | | Commissions receivable | | 39,624 | | Receivable from affiliates (Note 4) | | 1,469,734 | | Furniture, equipment and leasehold improvements, | | | | net of accumulated depreciation of \$1,175,979 | | 52,477 | | Other assets | | 422,529 | | Total assets | રે | 6,351,123 | | LIABILITIES AND PARTNERS' CAPITAL | | | | LIABILITIES: | | | | Commissions and salaries payable | ಕ್ಕಿ | 263,302 | | Accrued expenses and other liabilities | | 318,067 | | Payable to affiliates (Note 4) | | 499,892 | | Total liabilities | | 1,081,261 | | PARTNERS' CAPITAL: | | | | General partner | ക്ക | 52,700 | | Limited partner | S | 5,217,162 | | Total partners' capital | | 5,269,862 | | Total liabilities and partners' capital | | 6,351,123 | The accompanying notes are an integral part of these financial statements. {5}------------------------------------------------ ### *NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES* ### *Organization and Business* ### *Securities Valuation and Revenue Recognition* {6}------------------------------------------------ ### SPROTT GLOBAL RESOURCE INVESTMENTS, LTD. NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2023 ### NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) ### Securities Valuation and Revenue Recognition (continued) The Partnership records its securities owned on a trade-date basis. Realized and unrealized changes in fair value are recorded as Investment and trading in the statement of income in the year the changes occur. Expenses related to commissions revenue and investment and trading costs are recorded on a trade-date basis. The Partnership values its securities in accordance with Accounting Standards Codification 820 - Fair Value Measurements ("ASC 820"). Under ASC 820, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Partnership uses various valuation approaches. ASC 820 establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Partnership. Unobservable inputs reflect the Partnership's assumption about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Partnership has the ability to access. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 - Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3 - Valuations based on inputs that are unobservable and rely on management's own assumptions about the assumptions that market participants would use in pricing the asset or liability. The unobservable inputs are developed based on the best information available in the circumstances and may include the Partnership's own data. {7}------------------------------------------------ ### SPROTT GLOBAL RESOURCE INVESTMENTS, LTD. NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2023 ### NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) ### Securities Valuation and Revenue Recognition (continued) The availability of valuation techniques and observable inputs can vary from security and is affected by a wide variety of factors, including the type of security, whether the security is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the securities existed. Accordingly, the degree of judgment exercised by the Partnership in determining fair value is greatest for securities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined by the lowest level input that is significant to the fair value measurement. Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Partnership's own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Partnership uses prices and inputs that are current as of the measurement date, including during periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many securities. This condition could cause a security to be reclassified to a lower level within the fair value hierarchy. The Partnership values investments in securities that are freely tradable and are listed on a national securities exchange or reported on the NASDAQ national market at the bid price on the last business day of the year. Over-the-counter ("OTC") contracts have market prices that can be observed in the marketplace. The Partnership's policy for securities traded in the OTC markets and listed securities for which no sale was reported on that date are valued at their last reported market price. These securities are included in Level 1 of the fair value hierarchy for actively traded markets and Level 2 of the fair value hierarchy for markets that are not actively traded. {8}------------------------------------------------ ### *NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)* ### *Securities Valuation and Revenue Recognition (continued)* ### *Foreign Currency* ### *Furniture, Equipment and Leasehold Improvements* ### *Profit and Loss Allocations* {9}------------------------------------------------ ### *NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)* ### *Use of Estimates* ### *Cash Equivalents* ### *Stock-based Compensation* {10}------------------------------------------------ ### *NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)* ### *Income Taxes* ### *New accounting standards* {11}------------------------------------------------ ### *NOTE 2 - NET CAPITAL REQUIREMENTS* ### *NOTE 3 - FAIR VALUE MEASUREMENTS* | | | | Level 1 | Level 2 | Level 3 | Balance as of
December 31, 2023 | |---------|--------------------------------------|---|-----------|-----------|---------|------------------------------------| | Assets: | Public equities | ಳ | 26,584 | | | 26,584 | | | Common share purchase
warrants | | | 44,074 | 100 | 44.174 | | | Securities owned, at fair value \$ | | 26,584 \$ | 44,074 \$ | 100 S | 70,758 | ## *NOTE 4 - RELATED PARTY TRANSACTIONS* {12}------------------------------------------------ ### SPROTT GLOBAL RESOURCE INVESTMENTS, LTD. NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2023 The Partnership receives fees charged for the execution of purchases and sales of securities from Exploration. For the year ended December 31, 2023, the Partnership received \$56,488 in commissions and trading fees from the investment partnerships. The Partnership is also affiliated with Sprott Asset Management USA ("SAM USA") by virtue of common ownership. The Partnership receives a fee for providing back office management and administrative services. For the year ended December 31, 2023, the Partnership earned \$1,193,298 for the performance of such services and had a receivable from SAM USA of \$718,034 of which \$334,283 relates to salaries paid on behalf of SAM USA, \$103,198 relates to back office management and \$280,553 relates to administrative services. As of December 31, 2023, the Partnership had a payable to SAM USA of \$105,417 for fees received from the clearing broker related to management fees earned by SAM USA. The Partnership pays the general partner a management fee of \$3,000 each calendar quarter. For the year ended December 31, 2023, the Partnership paid management fees of \$12,000 of which \$2,000 remained payable to SGRIL Holdings at December 31, 2023. The Partnership is affiliated with SII. The Partnership is charged certain expenses by SII and subsequently reimburses these costs to SII. For the year ended December 31, 2023, the Partnership was charged \$119,427 of head office costs and had a payable to SII of \$106,041. The Partnership also recovers expenses from SII for general, administration and compensation overheads. For the year ended December 31, 2023, the Partnership paid \$245,534 on SII's behalf of which \$245,534 is receivable at year end. The Partnership is also affiliated with Sprott Asset Management LP ("SAM"), a subsidiary of SII. In the normal course of business, SAM and the Partnership incur expenses on each other's behalf which are reimbursed on a periodic basis. For the year ended December 31, 2023, the Partnership incurred \$658,521 of costs on behalf of SAM while SAM incurred costs of \$45,461 on behalf of the Partnership. As of December 31, 2023, the Partnership has a payable of \$9,625 to SAM and a receivable of \$114,933. The Partnership is affiliated with Sprott Resource Lending Partnership ("SRLP"), a subsidiary of SII. In the normal course of business, SRLP and the Partnership may incur expenses on each other's behalf which are reimbursed on a periodic basis. For the year ended December 31, 2023, the Partnership incurred \$147,518 of costs on behalf of SRLP while SRLP incurred costs of \$27,121 on behalf of the Partnership. As of December 31, 2023, the Partnership has a receivable of \$47,900 and payable of \$8,829. In the normal course of business, the Partnership and other subsidiaries of SII may incur expenses on each other's behalf which are reimbursed on a periodic basis. {13}------------------------------------------------ ### SPROTT GLOBAL RESOURCE INVESTMENTS, LTD. NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2023 As of December 31, 2023, the Partnership has additional receivables from wholly-owned subsidiaries of SII as follows: | | | December 31.
2023 | |---------------------------------|------|----------------------| | Sprott Consulting LP | ક્તિ | 11.951 | | Sprott Resource Lending Corp | | 187.730 | | Sprott US Holding | | 17,583 | | Sprott Royalty & Streaming Corp | | 34,970 | | Sprott Canada Holding Inc | | 9.385 | As of December 31, 2023, the Partnership has additional payables to wholly-owned subsidiaries of SII as follows: | | | December 31,
2023 | |-------------------------------|----|----------------------| | Sprott Resource Lending Corp. | ನಿ | 15.986 | | Sprott Canada Holding Inc | | 250,913 | | Sprott US Holding | | 1.007 | ### NOTE 5 -SUBSEQUENT EVENTS The Partnership has performed an evaluation of subsequent events that have occurred subsequent to the statement of financial condition date and through to March 25, 2024 which is the date the financial statements were issued. The evaluation did not result in any subsequent events that required disclosures and/or adjustments in these financial statements. {14}------------------------------------------------ SUPPLEMENTARY INFORMATION Confidential Pursuant to SEC Rule 17-A-5(E)(3) {15}------------------------------------------------ ### SPROTT GLOBAL RESOURCE INVESTMENTS, LTD. SCHEDULE I - COMPUTATION OF NET CAPITAL PURSUANT TO UNIFORM NET CAPITAL RULE 15c3-1 OF THE SECURITIES AND EXCHANGE ACT OF 1934 | Partners' capital | | S | 5,269,862 | |----------------------------------------|---------------------------------------------------------------------|---|-----------| | LESS | | | | | Nonallowable assets: | | | | | Petty cash | | | 649 | | | Furniture, equipment and leasehold improvements, net | | 52,477 | | Other assets | | | 422,529 | | | Receivable from affiliates | | 1,469,734 | | Securities owned | | | 70,758 | | Total non-allowable assets | | | 2,016,147 | | | | | | | | Net capital before haircuts on securities and money market accounts | | 3,253,715 | | | Haircuts on foreign currency holdings | | 249 | | | Haircuts on money market accounts | | 26,531 | | NET CAPITAL | | | 3,226,935 | | | Minimum requirements of 6-2/3% of aggregate indebtedness of | | | | | \$72,084 or \$250,000, whichever is greater | | 250,000 | | Excess net capital | | S | 2,976,935 | | AGGREGATE INDEBTEDNESS: | | | | | Commissions and salaries payable | | S | 263,302 | | Accrued expenses and other liabilities | | | 318,067 | | Payable to affiliates | | | 499,892 | | TOTAL AGGREGATE INDEBTEDNESS | | S | 1,081,261 | | | RATIO OF AGGREGATE INDEBTEDNESS TO NET CAPITAL | | 0.34 to 1 | NOTE: There are no material differences between the above computation of net capital and the corresponding computation as submitted by the Partnership on January 24, 2024 with the unaudited Form X-17A-5 as of December 31, 2023. {16}------------------------------------------------ ### SPROTT GLOBAL RESOURCE INVESTMENTS, LTD. SCHEDULE II - COMPUTATION OF DETERMINATION OF RESERVE REQUIREMENT PURSUANT TO RULE 15c3-3 OF THE SECURITIES AND EXCHANGE ACT OF 1934 ### DECEMBER 31, 2023 The Partnership is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934 under paragraph (k)(2)(ii) of that Rule. {17}------------------------------------------------ ![](_page_17_Picture_0.jpeg) KPMG LLP Bay Adelaide Centre 333 Bay Street, Suite 4600 Toronto, ON M5H 2S5 Canada Tel 416-777-8500 Fax 416-777-8818 # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of Sprott Global Resource Investments, Ltd.: We have reviewed management's statements, included in the accompanying Sprott Global Resource Investments, Ltd.'s Exemption Report (the Exemption Report), in which (1) Sprott Global Resource Investments, Ltd. (the Partnership) identified the following provisions of 17 C.F.R. § 240.15c3-3(k) under which the Partnership claimed an exemption from 17 C.F.R. § 240.15c3-3(k)(2)(ii) (the exemption provisions); and (2) the Partnership stated that it met the identified exemption provisions throughout the year ended December 31, 2023, without exception. The Partnership's management is responsible for compliance with the exemption provisions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about the Partnership's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in paragraph (k)(2)(ii) of Rule 15c3-3 under the Securities Exchange Act of 1934. MG LLF Chartered Professional Accountants, Licensed Public Accountants Toronto, Canada March 25, 2024 {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) ### Sprott Global Resource Investments, Ltd.'s Exemption Report March 21, 2024 Sprott Global Resource Investments, Ltd. (the "Partnership") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. § 240.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Partnership states it has met the identified exemption provisions in 17 C.F.R. § 240.15c3-3(k)(2)(ii) from January 1, 2023 to December 31, 2023, without exception. Very truly yours, Sprott Global Resource Investments, Ltd. Mr. Robert Villaflor Chief Executive Officer Ms. Michelle Sath FINOP {19}------------------------------------------------ ![](_page_19_Picture_0.jpeg) KPMG LLP Bay Adelaide Centre 333 Bay Street, Suite 4600 Toronto, ON M5H 2S5 Canada Tel 416-777-8500 Fax 416-777-8818 # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The Board of Directors Sprott Global Resource Investments, Ltd.: In accordance with Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and with the Securities Investor Protection Corporation (SIPC) Series 600 Rules, we have performed the procedures enumerated below with respect to the accompanying General Assessment Reconciliation (Form SIPC-7) of Sprott Global Resource Investments, Ltd. (the Partnership) for the year ended December 31, 2023.The Partnership's management is responsible for its Form SIPC-7 and its compliance with the applicable instructions on Form SIPC-7. Management of the Partnership has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting you and the SIPC in evaluating the Partnership's compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2023. Additionally, the SIPC has agreed to and acknowledged that the procedures performed are appropriate for their intended purpose. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The sufficiency of these procedures for the intended purpose is solely the responsibility of those parties specified in this report and we make no representation regarding the sufficiency of the procedures described below either for the intended purpose or for any other purpose. The procedures and the associated findings are as follows: - 1. compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries , and noted no differences; - 2. compared the Total Revenue amount reported on the Annual Audited Form X-17A-5 Part III for the year ended December 31, 2023, with the Total Revenue amount reported in Form SIPC-7 for the year ended December 31, 2023, and noted no difference; {20}------------------------------------------------ ![](_page_20_Picture_0.jpeg) - 3. compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, and noted no differences; and - 4. recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related supporting schedules and working papers supporting the adjustments, and noted no differences. We were engaged by the Partnership to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants and in accordance with the standards of the Public Company Accounting Oversight Board (United States). We were not engaged to, and did not, conduct an examination or a review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the Partnership's Form SIPC-7 and for its compliance with the applicable instructions on Form SIPC-7 for the year ended December 31, 2023. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. We are required to be independent of the Partnership and to meet our other ethical responsibilities in accordance with the relevant ethical requirements related to our agreedupon procedures engagement. This report is intended solely for the information and use of the Partnership and the SIPC and is not intended to be and should not be used by anyone other than these specified parties. UPMG LL Chartered Professional Accountants, Licensed Public Accountants Toronto, Canada March 25, 2024 {21}------------------------------------------------ 12/31/2023 | | SPROTT GLOBAL RESOURCE INVESTMENTS LTD | 8-47039 | | |--|----------------------------------------|---------------|-----------------| | | 1/1/2023 | 12/31/2023 | | | | | | \$ 3,407,354.00 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \$ 41,814.00 | | | | | | \$ 41,814.00 | | | | | \$ 3,449,168.00 | | | | | | | | | | | | | | | | | | | \$ 664,699.00 | | | | | | | | | | \$ 18,813.00 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \$ 0.00 | | | | | | \$ 683,512.00 | {22}------------------------------------------------ | | | 12/31/2023 | | | |---------|-------------------------------------------------------------------------------------------------------------------------|-------------------------------------|-----------------------------------------|-----------------| | | | | | \$ 2,765,656.00 | | | | | | \$ 4,148.00 | | | | | | \$ 109.00 | | | 2023 | | \$ 2,583.00 | | | | 2023
2023 | \$ 109.00
\$ 0.00
\$ 2,474.00 | \$ 2,583.00 | | | | | | | \$ 2,583.00 | | | | | \$ 4,148.00
\$ 109.00
\$ 2,583.00 | \$ 1,456.00 | | | 0 | | | \$ 0.00 | | | | | | \$ 1,456.00 | | | | | | \$ 0.00 | | 8-47039 | DEA: FINRA | 2023 | Dec | | | | SPROTT GLOBAL RESOURCE INVESTMENTS LTD
ATTN: GRETCHEN CARTER
1910 PALOMAR POINT WAY STE 200
CARLSBAD, CA 92008 | | | | | SPROTT GLOBAL RESOURCE INVESTMENTS LTD | Michelle Sath | |----------------------------------------|------------------| | | | | 2/29/2024 | msath@sprott.com | | | | | | | Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.