The Central Fund of Canada is selling 23,600,000 units from their shelf offering at 14.85.
The proceeds will be used to buy additional gold and silver bullion. This action tends to dampen the premium. The calculations will be updated when the transactions are completed and announced on their website. Closing is expected to occur on or about May 18, 2010.
Note: As a reminder, The Cafe is long gold and silver, and has been since 2001. All that varies is the form and the degree with occasional hedging.
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. For the traitor appears not a traitor; he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” Marcus Tullius Cicero