Sprott now controls 13.9% undiluted and 15.3% diluted of Balmoral, which is merging with Wallbridge Mining Company where he is also the main shareholder.
Last week's special meeting of Balmoral shareholders voted in favour of the C$110 million merger. Sprott will own 20% of the combined company.
Balmoral has extensive gold and nickel exploration ground on Quebec's Detour Gold Trend, around Wallbridge's developing Fenelon gold mine.
Balmoral shares (BAR:TSX) have gained 73% in the past 30 trading days to C69c, which capitalises it at $132 million (US$95 million).