Silver Bullion Trust, an all silver fund from the CEF/GTU closed-end fund group, has its roadshow going on now.
Initially it will only be available in Canada. It will trade on the TSX to start, then on the AMEX once it has risen to $75 million of assets which is a similar process used in the introduction of GTU.
It will trade in Canada in both U.S. and Canadian dollars.
The initial offering is reported to be for up to $200 million, so the $75 million threshold could be met immediately depending on the bid size of the deal.
It is expected to price at around US $10 (1 share + 1 $10 warrant) by July 29th.
This could be a interesting alternative to SLV and to CEF for those who wish to invest more heavily in silver.
"It is rather for us to be here dedicated to the great task remaining before us — that from these honored dead we take increased devotion to that cause for which they gave the last full measure of devotion — that we here highly resolve that these dead shall not have died in vain, that this nation under God shall have a new birth of freedom, and that government of the people, by the people, for the people shall not perish from the earth.” Abraham Lincoln, November 19, 1863