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Sprott Physical Gold Trust ETV (PHYS) Message Board

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  • akiva1234 akiva1234 Sep 7, 2012 1:26 PM Flag

    Gold up Phys down

    "Strong buy"?? I beg to differ. If this thing can't track gold, what's the point of it?

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    • If you believe gold will be strong going forward, its a good time to pick up new PHYS shares as the price has decreased compared to NAV.

    • When comparing the PHYS price to GOLD there's always a drop at a follow-on offering. Here's some historic info:
      The following unit issuances took place during the period from February 25, 2010 to September 30, 2010:
      Of the $1,040.2 million gross proceeds raised through the above transactions, the Trust paid approximately $47.8 million in
      respect of underwriting commissions and other expenses related to the various offerings detailed above, invested $983.3 million
      in physical gold bullion at an average cost of $1,198.01 per troy ounce and retained $8.1 million in cash in order to provide available funds for the Trust's ongoing expenses and potential cash redemptions.
      • On March 3, 2010, the Trust closed its initial public offering with the sale of 40,000,000 units at $10.00 per unit, for gross proceeds of $400,000,000;
      • On March 8, 2010, the Trust issued 3,000,000 units for gross proceeds of $30,000,000 on the exercise by the underwriters of the over-allotment option of the initial public offering.
      • On March 25, 2010, the Trust issued 1,250,000 units for gross proceeds of $12,500,000 on the final exercise by the underwriters of the over-allotment option of the initial public offering.
      • On June 1, 2010, the Trust issued 24,840,000 units at $11.25 per unit, for gross proceeds of $279,450,000 on the first follow-on offering of the units of the Trust.
      • On September 22, 2010, the Trust issued 24,500,000 units at $11.37 per unit, for gross proceeds of $278,565,000 on the second follow-on offering of the units of the Trust.
      • On September 27, 2010, the Trust issued 3,488,555 units at $11.37 per unit, for gross proceeds of $39,664,870 on the exercise by the underwriters of the over-allotment option on the second follow-on offering.

      Does anyone know the details of any more PHYS follow-on offerings?

      • 1 Reply to muddsnapper
      • It should read:
        The following unit issuances took place during the period from February 25, 2010 to September 30, 2010:
        • On March 3, 2010, the Trust closed its initial public offering with the sale of 40,000,000 units at $10.00 per unit, for gross proceeds of $400,000,000;
        • On March 8, 2010, the Trust issued 3,000,000 units for gross proceeds of $30,000,000 on the exercise by the underwriters of the over-allotment option of the initial public offering.
        • On March 25, 2010, the Trust issued 1,250,000 units for gross proceeds of $12,500,000 on the final exercise by the underwriters of the over-allotment option of the initial public offering.
        • On June 1, 2010, the Trust issued 24,840,000 units at $11.25 per unit, for gross proceeds of $279,450,000 on the first follow-on offering of the units of the Trust.
        • On September 22, 2010, the Trust issued 24,500,000 units at $11.37 per unit, for gross proceeds of $278,565,000 on the second follow-on offering of the units of the Trust.
        • On September 27, 2010, the Trust issued 3,488,555 units at $11.37 per unit, for gross proceeds of $39,664,870 on the exercise by the underwriters of the over-allotment option on the second follow-on offering.
        Of the $1,040.2 million gross proceeds raised through the above transactions, the Trust paid approximately $47.8 million in respect of underwriting commissions and other expenses related to the various offerings detailed above, invested $983.3 million in physical gold bullion at an average cost of $1,198.01 per troy ounce and retained $8.1 million in cash in order to provide available funds for the Trust's ongoing expenses and potential cash redemptions.

    • A very good question.

      Sentiment: Sell

 
PHYS
10.70Aug 20 4:00 PMEDT

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