My hecla is surging again love PSLV and HL in this environment of endless money printing and zero interest rate policies !
Even if they did a secondary offering like Central Fund of Canada does they would buy more silver with it so what. And I have never seen a secondary offering when the premium was low or negative.
So are you short ?
If they don't do the secondary by next month they will have to start selling off the silver held in the trust just to pay the bills.
what are you a short man ?
Don't you know a bottom when you see one ?
Why do you care about this ?
You will be very sad when this hits 10 15 20 unless you smarten up and get some now !
stock market is topped now and overpriced and further efforts to pump it up will drive more to the only real money gold and silver. I am grateful for the manipulations that enabled me to get more at such great prices.
I can see 10 easily in a few months as it was 22 in 2011 when silver was in the 40's..
I also own hecla about 60% PSLV 40% HECLA for the gold exposure.
The Europeans, Russians, and Swiss certainly have much strong reasons to invest in Gold and Silver this month as their currencies gyrate wildly.
The silver market is turning up as the S is starting to HTF with world fiat currencies. If the premium stays up it looks like Sprott may be able to get the secondary offering through just as they are about to run out of cash. Taking more physical off the market will make some headlines and be a big psychological boost for retail demand. Only $800+K left in cash so Feb should be crunch time for a PLSV secondary.
A good related article is pasted below.
I am seeing good action in the miners which are the early indicator. I also think the premium in PSLV will expand as silver prices rebound especially once it goes back into over 20.00 per oz the time to buy is now as I have been doing...
Its a slow retrace .. If you look up SLV Short shares you will see they are still trying to push down on silver ... So I don't see this being an easy ride up.... Not that I really care because I have no planes on selling anytime soon... Im not in it for a quick buck...
I think silver and gold have based and will be running up fast this year.
I expect to see it go over 7.00 by the end of January lets see if I am right..
and all mines in North America They are also low cost producer and have increasing reserves.
It was 11 in 2011 now 3 I think it will see 20 when gold and silver really take off...
Would like to see higher volume, but will take it. That will come in time as the derivative time bomb continues to tick. Will it be the CDS's on the fracking company bonds or the Greek bonds. This is why Citi used their influence to get the language they needed into the Omnibus Spending bill regarding bailing out the banks on derivatives. Yes, we have the best Congress that money can buy.
As long as gold goes down, silver will go down. Bought some AXU, TGD, and GGN today at bargain prices....does not mean they cannot go down further...I remember when silver was 5.00 an ounce, so there is plenty of room to go down more from here.
Its a great time to buy PSLV versus SLV. Typically we see a up to a 5% premium on PSLV and once in a while a tiny discount. I just switched from SLV to PSLV. When a significant premium to PSLV returns, I'll switch back to SLV. PSLV is a better mousetrap than SLV but they both track spot silver. With PSLV being a closed end fund, though, market makers don't issue new shares when a premium occurs. Of course, a significant discount won't occur because market makers can liquidate a basket of shares for the physical silver. PSLV is also unallocated and segregated silver kept at the Royal Canadian Mint. Tax advantages can also accrue.
I think in a year or so people will realize how much of a buying opportunity this was.
Silver is so cheap it's almost impossible to believe a troy oz for 16 dollars or the price of a lb of high end steak or a trip to mcdonalds or 8 lbs of organic apples etc. Another way to look at it is your average phone bill of 96 dollars could buy 6 oz of silver ! How long can it last ?