Wednesday, July 20, 2011

Sprott Prices PHYS Follow On Offering, Raises $266 Million, To Buy Over 5 Tonnes Of Physical Gold

As was announced before, Sprott's PHYS fund (which previously had not disclosed terms of its offering) has just priced 19 million units at $14.00/unit for a total raise of $266 million, all of which will go to removing another 5 tonnes of physical gold out of the broader lendable circulation.

Read the full story at Zerohedge here: