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Brompton Flow-Through 2017 LP

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  • Management Style Active
  • Management Fee 2.00%
  • NAV (Jan 17, 2019) $10.23
  • Total Assets (Dec 31, 2018) $4 Million

The Fund seeks to achieve its investment objective by investing in resource companies with the following attributes:

  • Experienced Management – strong management team with a clear, concise and logical business plan
  • Strong Exploration and Development Plan – prospective plan should contribute to resource and/or cash flow growth
  • Rewarding Return Potential – resource company must demonstrate a potential for returns to compensate for risks
  • Relative Value – resource company must represent reasonable value relative to their peer group with quality assets

Investment Objectives

To seek to achieve capital appreciation and to provide tax benefits for the limited partners by investing in a diversified portfolio of flow-through shares of resource companies primarily engaged in the oil and gas and mining sectors.

Mutual Fund Rollover

Prior to May 31, 2019 the Fund expects to roll over its assets on a tax-deferred basis to the Brompton Resource Fund or another Brompton mutual fund advised by the Manager and Portfolio Manager.

FUND FACTS

  • CUSIP
    11222K104
  • Inception Date
    March 6, 2017
  • Manager/Portfolio Manager
    Brompton Funds Limited
  • Auditor
    PricewaterhouseCoopers LLP
  • Custodian
    CIBC Mellon Trust Company
  • Transfer Agent
    TSX Trust Company
  • Eligibility
    Units are not qualified investments for RRSPs, DPSPs, RRIFs, RESPs and TFSAs as Canadian property.
  • Performance Fee
    20% of net asset value in excess of $28.00 per unit

Manager/Portfolio Manager

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with over $2 billion in assets under management. Brompton’s Portfolio Management team specializes in Canadian and global equity investments and is a leading manager of covered call writing strategies in Canada.

Brompton 2017 Flow-Through Limited Partnership

Summary of Investment Portfolio as at September 30, 2018

Total Net Asset Value$4,067,925.00

Portfolio Composition

% of Portfolio% of Net Asset Value
Mining69.0%74.4%
Oil and gas24.2%26.1%
Cash and short-term investments6.8%7.3%
Uranium0.0%0.0%
Total Investment Portfolio100%107.8%
Other net liabilities7.8%
Total100%

Holdings

% of Portfolio% of Net Asset Value
InPlay Oil Corp.15.6%16.8%
Osisko Mining Inc.13.7%14.7%
Atlantic Gold Corporation13.4%14.5%
Alexco Resource Corp.9.9%10.6%
Cash and short-term investments6.8%7.3%
Monarques Gold Corporation6.1%6.6%
Marathon Gold Corporation5.5%5.9%
Denison Mines Corp.4.7%5.0%
IDM Mining Ltd.4.6%5.0%
Blackbird Energy Inc.4.3%4.7%
Leucrotta Exploration Inc.4.3%4.6%
Osisko Metals Incorporated3.5%3.8%
Gensource Potash Corporation2.7%2.9%
Gowest Gold Ltd.1.7%1.9%
Falco Resources Ltd1.7%1.9%
Balmoral Resources Ltd.1.0%1.1%
Resource Capital Gold Corp0.5%0.5%
Gowest Gold Ltd., warrants, strike price $0.25, expiry November 15, 20190.0%0.0%
Total100%107.8%
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2017 Tax Year Breakdown

T5013 Federal tax forms and RL 15 Quebec tax forms will be issued by investment dealers to all unitholders, as applicable, based on the following per unit tax information.

This information is of a general nature only and does not constitute legal or tax advice to any particular investor. Accordingly, prospective investors are advised to consult their own tax advisors with respect to their individual circumstances.

T5013(A)R15DescriptionTotalPer Unit
10526Ltd. Partner's at risk amt8,937,57525.00000
n/a45Eligible taxable capital gains amount on resource property00.00000
n/a14Partnership's total gross income18,993
1287Interest from Cdn Sources18,9930.05313
1326AActual amount of Eligible Dividends00.00000
21015ACarrying charges254,5780.71210
15110Capital gains(losses) (R15: used to calculate the deduction)
15112Capital gains(losses) (R15:not used to calculate the deduction)00.00000
n/a24AMember Corp's share of debt
n/a24BMember Corp's share of qualified property
n/a24CMember Corp's share of total assets
n/a27Limited Partnership Loss
19060Cdn exploration expense - renuciation8,618,262 24.10682
194n/aAmount - Exp qualifying for ITC5,669,432 15.85842
197n/aBC - Expenses - Tax Credit80,8500.22615
198n/aSK - Expenses - Tax Credit556,5281.55671
200n/aON - Expenses - Tax Credit864,0002.41676
n/a62Quebec Exploration Expense1,145,554 3.20432
n/a63Québec surface mining and oil and gas exploration expenses1,145,5543.20432
n/a53Limited-recourse amounts693,4001.93956
20150Number of units acquired357,503
20251Cost per unit25.00
20352Total cost of units8,937,575