The Phaserl


NAV of Certain Precious Metal Trusts and Funds – Sprott Bid For Canadian Metals Trusts

from Jesse’s Café Américain:

Bloomberg reports that Sprott may be planning an ‘unsolicited bid’ for the acquisition of the Central Gold Trust and the Silver Bullion Trust. The planned acquisition would cut the ‘trading gap’ or NAV discount of the Gold Trust.

The market has already cut the recent discount to NAV roughly in half this morning with a rally in the price of GTU. Markets tend towards the arc of price discovery, if sometimes more slowly, even in a climate of persistent manipulation. And once begun, those adjustments have sometimes then come suddenly, which ‘no one could have foreseen,’ as we saw in the most recent financial crisis of 2007.

“Sprott Asset Management LP is planning to make an unsolicited offer to acquire Central GoldTrust and Silver Bullion Trust valued at $800 million, a person with knowledge of the matter said.

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