To anyone who bought PSLV on it's opening day congratulations you are smarter than the average bear.
This is an FYI to anyone holding PSLV not a debate on whether the premium is simply true price discovery or a mini bubble.
Per Tom O' Brien Sprott is planning to dump some or all of his PSLV holdings. In case you don't know who Tom is he is a self proclaimed Gold lover who has been calling a top for about a year or 10 in Gold. The video is here http://www.tfnn.com/hour01.html
Keep in mind this does not mean Sprott is getting out of Silver as he has plans to open a PSLV 2 in the future. However, depending on how he sells or the market reaction to this news the premium may take a hit. As always you have to do your own due diligence and if you are really concerned give PSLV a call.
Confirmed (sort of) From Zero HedgeSprott Silver Mutual fund