Sprott Physical Gold Trust To Raise Up To $1.0 Billion To Buy More Gold
The Sprott Physical Gold Trust (TSX: PHYS) is looking to buy more gold. The entity this morning announced that it has updated its current at-the-market program to issue up to US$1.0 billion of units in the trust.
Proceeds from those issuances would then in turn be used to acquire further physical gold.
Sales of the new units are to be made on both the Toronto Stock Exchange and NYSE Arca, while distribution of the units will be conducted under an amended sales agreement between Sprott Asset Management and a handful of agents across Canada and the US, including Cantor Fitzgerald & Co and BMO Capital Markets.
The offering is being conducted under a prospectus supplement dated April 11, 2025.
The intent to acquire more gold by the Trust follows the precious metal hitting new all time highs in recent days, with gold this morning hitting a new all time high of $3,235.34 an ounce on the spot markets.
The Trust currently holds 3.5 million ounces of gold with a total net asset value of $11.25 billion.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.