Plenty of silver paper but metal is scarce, Sprott warns
Sprott Physical Silver Trust Updates Investors
on the Delivery Status of its Silver Bullion Purchases
Company Press Release
via PRNewswire and Yahoo News
Monday, January 10, 2011
http://finance.yahoo.com/news/Sprott-Physical-Silver-Trust-prnews-187235…
TORONTO — Sprott Asset Management LP is pleased to provide investors with an update on the delivery status of silver bullion purchased by the Sprott Physical Silver Trust (NYSE: PSLV).
As of November 10, 2010, the Trust had contracted to purchase a total of 22,298,525 ounces of silver bullion. As of December 31, 2010 a total of 20,919,022 ounces of silver bullion had been delivered to the Trust. T
he Trust expects to take delivery of the final 1,379,503 ounces of silver bullion by January 12 and will subsequently publish the serial numbers of all bars held by the Trust on its website: www.sprottphysicalsilver.com.
“Frankly, we are concerned about the illiquidity in the physical silver market,” said Eric Sprott, chief investment officer of Sprott Asset Management. “We believe the delays involved in the delivery of physical silver to the Trust highlight the disconnect that exists between the paper and physical markets for silver.”
Additional detail on the Trust can be found in the final prospectus available on EDGAR (www.sec.gov/edgar.com) and SEDAR (www.sedar.com) or on the Trust’s website at www.sprottphysicalsilver.com.
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