Tuesday, May 3, 2011

Eric Sprott - “Sprott Has More Physical Silver Now Than Ever!

With silver recently plummeting from $50 to the $40 area, today King World News interviewed Eric Sprott, Founder of Sprott Asset Management to clear up some misperceptions about Sprott’s sales of PSLV. There is a great deal of misinformation out there regarding what Sprott was actually doing when SAM sold some PSLV. When asked about what has transpired Sprott remarked, “Well Eric in response to your question, any proceeds that we’ve received from selling PSLV have immediately gone back into silver or other silver equities. And I can tell you we have the highest position in physical ownership that we’ve ever had, and we have not lost one ounce of our encouragement for the outlook for the silver price.”
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