Sprott to List a Gold ETF in New York, Toronto

Source: 24/7 Wall St., Jon C. Ogg (12/11/09)

". . .the SPDR Gold Shares (NYSE: GLD) is about to get some new competition. . ."

It looks like the SPDR Gold Shares (NYSE: GLD) is about to get some new competition, albeit a far smaller trading vehicle. An F-1 filing at the SEC was made today by Sprott Physical Gold Trust, which is going to be selling units via an initial public offering. Be advised that this is a Canadian trust established as an Ontario trust, and it was created to invest and hold substantially all of its assets in physical gold bullion. In short, it wants to compete against the "GLD." While no terms beyond a $10.00 offering price are formally listed, it noted in the filing that it will sell up to $575 million in this IPO.

The filing noted that the initial public offering price will be $10.00 per unit to investors who are prepared to invest a minimum initial subscription amount of $1,000.00. The trust intends to file an application to list its units on the New York Stock Exchange for the ticker "PHYS" and the Toronto Stock Exchange under the ticker "PHY."

Underwriters are listed as Morgan Stanley and RBC Capital Markets. As far as how this compares in size, The SPDR Gold Trust has a market cap somewhere north of 50-times that of this new filing.

Details of the filing are here at the SEC site.

Announcing Streetwise Live! Events
Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.

"China's export quota could be opportunity for Canadian miners"

Mexico: Gold's Next Powerhouse Player
Source: Marc Davis, BNW News (11/03/2009)

As the world's key gold producing nations struggle mostly in vain to replenish dwindling below-ground supplies, Mexico is bucking the trend in a big way.

Where Have All the Gold Mines Gone?
Source: Brent Cook, Exploration Insights (04/14/2009)

Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. . .the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics.

Congo Completes Mining Review, Says Majors Quit Talks
Source: Reuters (12/20/2008)

"Review process is extended an additional 45 days to allow six companies to return to the negotiating table for direct talks with government ministers."