Time Tested Shelter with a History of Attractive Returns

Flow-Through Limited Partnerships have a history of attractive returns.

Year Amount raised (Millions) NAV at Termination After-tax Return
1999 $148 $29.50 82%
2000 $139 $25.02 58%
2001 $213 $26.61 59%
2002 $259 $28.25 73%
2003 $353 $27.09 66%
2004 $577 $28.48 73%
2005 $618 $29.13 76%
2006 $918 $15.98 3%
2007 $931 $7.13 -56%
2008 $592 $ 22.12 39%
2009 $314 $35.70 130%
2010 $357 $19.81 21%
2011 $702 $9.03 -36%
Average: $22.94 43%

Consistent participation has delivered attractive tax-adjusted returns.

Note: Based on $25 issue NAV. Source: Company websites, Sprott Asset Management, based on five largest flow through limited partnership manager.

Investment in Flow-Through Limited partnerships is not suitable for all types of investors because of the high risk of this kind of investment. Before considering this investment for tax reasons, consult your accountant or tax professional to assess the impact of such investment on your personal taxation.