FWIW, I have tried to respond to this multiple times and have lost the posts (hence my check post).
Let me just say right here and now: Peter South proved how vacuous he really is with this post:
"10.71 on 7/11. 10.74 on 7/12. Are you embarassed yet?"
A two year old can figure out how NAV's work genius. My point and remains true is that when Sprott does a secondary (and the most recent one was his third seconary) PSLV invariably gets whacked. And THAT IS EXACTLY WHAT HAPPENED ON THE LAST SECONDARY YOU FOOL!
NAV went up because the silver spot price went up from 7/11-7/12 when Sprott Asset Management announced the secondary. But guess what wind-pipe peter south? PSLV DECLINED from 7/11-7/12 exactly 3.5%.
See how that works fella? NAV went up but trust holders in Sprott lost money in PSLV while silver went up BECAUSE OF THE SECONDARY.
This will happen over and over and over again. Secondaries will ALWAYS happen because it's the only way they can pay management fees at the end of the day.
The losers? PSLV holders of course. If you really want to own silver, then own it!