Sprott Prices the Physical Silver Trust Offering at US$13.20

Sprott is bringing their deal out at the low end of the range. Quite a haircut for those who held the trust before the offering announcement, as I had warned. That thirty percent premium to NAV was completely undeserved and was most likely the result of a short squeeze.

It is a bullish deal for the silver market in general since it will take more than ten million ounces of silver out of the