Friday, November 25, 2011

Eric Sprott Confirms PSLV Filing Allows Fund to Raise $1.5 Billion "Overnight"

*Eric Sprott confirms new "continuous filing" gives PSLV the right to raise additional $1.5 B "overnight"
*Funds would be used to buy PHYZZ
*Sprott is sending letter to major silver producers encouraging them to save in physical silver rather than saving fiat in banking system

As Cleburne61 has stated, even a small portion of $1.5 billion used by Sprott to purchase PHYSICAL SILVER will be a TSUNAMI for the small physical silver market.

That gives us the right because it’s now called a ‘continuous filing,‘ it gives us the right on an overnight basis to raise money for the silver fund, which would be used to buy physical silver.
I’ve always stated that I’m not going to do anything that would negatively affect the premium of that fund.  In my ideal, we get a couple of institutions come in here and say, ‘Hey we’d like to take down a couple of hundred million bucks worth of silver, we love your vehicle.’  And then we might go and say, ‘Okay, I think it’s time to go out there and go raise some money to buy silver.
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