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On July 16th Sprott filed a short form shelf prospectus for its Physical Silver Trust (PSLV). This filing enables Sprott to raise up to $1.5 billion, which would be directly used to buy silver bullion (net of fees, of course).
At today's (July 22, 2020) closing price, that equates to roughly 65 million ounces of silver. In 2019, total global silver production was 836.5 million ounces (see chart below).
In other words, Sprott's filing (if fully subscribed) equates to almost 8% of annual mine production. This is a major market-moving event. And move