|
|
Precious Metals
|
|
||
Interview: The Biggest Buyer of Silver on Earth 2021https://www.zerohedge.com/news/2021-06-21/interview-biggest-buyer-silver-earth-2021 Based on the 58 million oz already acquired year to date, Sprott PSLV should have sufficient firepower to purchase another 60+ million oz still, based on the currently active shelf offerings. Given ongoing demand trends, it is extremely likely that Sprott will complete that shelf offering during 2021 and issue a new shelf offering, probably for another $3 billion in value, so that they can continue their rampage of buying the equivalent of 1/6th of the global annual new line silver mining supply. That was not a typo. Let's cover how much they are buying one more time. Sprott PSLV has been buying approximately 1 out of every 6 ozs of silver mined so far in 2021. This unprecedented buying is causing massive supply imbalances in the silver market. Sprott PSLV has purchased so many 1,000 oz silver bars in North America, that they recently had to open a sub-custodian agreement in London (with Brink's) so that they can acquire 1,000 oz bars in London, store them temporarily there until those silver bullion bars can be transported to Sprott vaults in Canada. |
return to message board, top of board |