Claymore Silver Bullion Trust has substantially invested the net proceeds of its initial public offering and has purchased 2.2 million ounces of silver at a weighted average price of U.S.$13.326 per ounce on a fully-hedged basis, Claymore Investments, Inc. said Friday.
“The Trust has retained a nominal amount of cash for further silver bullion purchases and working capital purposes,” Claymore said a release.
The net asset value (NAV) of the Trust as at the end of business on July 16 was $9.26, which value is based on the London Fix price of U.S.$13.21 per ounce. Both the NAV and fully-diluted NAV of the Trust will be updated on a daily basis and are available on Claymore’s website at www.claymoreinvestments.ca
The Units and Warrants of the Trust are listed on the Toronto Stock Exchange under the symbol SVR.UN and SVR.WT, respectively.
The investment objective of the Trust is to replicate the performance of the price of silver bullion, less expenses and fees.
IE
Claymore Silver Bullion Trust fully invested
- By: IE Staff
- July 17, 2009 July 17, 2009
- 09:40
IE Staff