The Mental Militia Forums

Please login or register.

Login with username, password and session length
Pages: 1 [2]   Go Down

Author Topic: Gold and silver on sale - $12.06  (Read 3405 times)

Mr. Bill

  • Guest
Re: Gold and silver on sale - $12.06
« Reply #15 on: May 25, 2015, 10:12:23 pm »

Adding physical redemption would be a huge improvement.  Usually there is a fee and some non-trivial minimum. ...

Well, the non-trivial minimum for Sprott's gold fund is 1 London Good Delivery bar (about 400 oz); price is NAV plus some fees.  Not quite ideal for most of us!  But it's better than nothing.
Logged

Silver

  • thrivalist
  • Moderator Group
  • Sr. Member
  • *****
  • Offline Offline
  • Posts: 3687
Re: Gold and silver on sale - $12.06
« Reply #16 on: May 26, 2015, 11:26:45 am »

Yeah, 400 oz is out of my league.  Central Gold Trust had this to say about the Sprott hostile takeover:

Quote
GoldTrust’s administration fees are 43% lower, and its total expense ratio is 30% lower than Sprott Physical Gold's, even though GoldTrust's asset base is much smaller than Sprott Physical Gold's. GoldTrust is also the only gold bullion entity with a sliding scale administration fee that decreases as the trust's net assets grow.

GoldTrust’s bullion is stored in the highest security rated underground vault of a major Canadian chartered bank on a fully allocated and physically segregated basis. This makes GoldTrust the most secure of any Canadian gold bullion entity.

GoldTrust has an Independent Board of Trustees, a Corporate Governance and Nominating Committee and an Audit Committee whereas Sprott Physical Gold does not.
Logged

Mr. Bill

  • Guest
Re: Gold and silver on sale - $12.06
« Reply #17 on: December 22, 2015, 04:01:53 pm »

...If you prefer just gold to a mix of gold and silver, check out GTU.  It's run by the same people.  The discount at yesterday's closing price was 4%.

Prefer silver?  Look at the Silver Bullion Trust.  Same great people, same model: precious metals stored in secured Canadian vaults, out of the reach of thieves both free-lance and professional. ...

FYI, Sprott Physical Gold Trust and Sprott Physical Silver Trust have made unsolicited offers to acquire Central GoldTrust (GTU) and Silver Bullion Trust, respectively.  This would be an exchange of shares on a NAV to NAV basis.  Here's Sprott's press release.

Update: looks like this takeover is going through for Central GoldTrust, but not for Silver Bullion Trust.

12/4/15: Central GoldTrust and Silver Bullion Trust announce a brilliant last-ditch plan to convert to an ETF with a cash-redemption feature:
Central GoldTrust Files Information Circular and Recommends That Unitholders Vote FOR the Proposed ETF Conversion and Immediately Withdraw Any Units Tendered to Sprott's Offer
Silver Bullion Trust Files Information Circular and Recommends That Unitholders Vote FOR the Proposed ETF Conversion and Immediately Withdraw Any Units Tendered to Sprott's Offer

12/8/15: Sprott says 55.14% of all outstanding Central GoldTrust units have been tendered into the Sprott offer:
Quote
...Sprott, on behalf of tendering GTU unitholders and as described in Sprott's November 20, 2015 Notice of Extension and Variation, has removed Brian Felske, Glenn Fox, Bruce Heagle, Ian McAvity, Michael Parente and Jason Schwandt as GTU trustees and appointed Marc Faber, James Fox, Sharon Ranson, John Wilson and Rosemary Zigrossi as new trustees of GTU. Stefan Spicer remains a trustee of GTU. ...
Sprott Announces Majority of GTU Unitholders Tendered to Sprott Offer

12/16/15: Sprott abandons the offer for Silver Bullion Trust, won't interfere with their conversion to an ETF:
Sprott Announces Agreement With Purpose Investments in Connection With Offers for Central GoldTrust and Silver Bullion Trust

It looks like the Sprott merger with Central GoldTrust must still be approved by 66⅔% of the Central GoldTrust unitholders on 1/15/16.
Logged
Pages: 1 [2]   Go Up