MNT, MNT.U: ROYAL CANADIAN MINT CANADIAN GOLD RESERVES PROGRAM

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tread_w_care
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MNT, MNT.U: ROYAL CANADIAN MINT CANADIAN GOLD RESERVES PROGRAM

I am scrambling to perform DD on this very intriguing ETR . . .

What I've discovered so far:

http://tmx.quotemedia.com/quote.php?qm_symbol=MNT.U

http://www.mint.ca/store/news/royal-canadian-mint-etr-begins-trading-on-tsx-13500002?cat=News+releases&nId=700002&parentnId=600004&nodeGroup=About+the+Mint

http://www.reserves.mint.ca/Content/documents/en/ETR%20-%20Information%20Statement.pdf

I can purchase this through my Fidelity 401K/Brokerage Link account, but for a hefty fee, 32.95 plus a $50 settlement fee (blech, hate me some banksters), BUT, per the RCM they will NOT be offering this in the US via a US symbol . . .

Quote:
The ETRs have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not offered or sold in the United States.

I read here someone mentioned this is an unallocated offering, however, the cost/fee structure and storage/maintenance costs are allegedly less than Sprott's funds (PHYS, PSLV) and maybe CEF (CEF.A) as well.

I'm digging into the Information Sheet now and may be placing a trade soon.  The US dollar denominated offering's premium is taking off vs. the Canadian dollar (MNT.U vs MNT).

Very intriguing indeed.

I'd love it if these guys updated there Google spreadsheet to include MNT.U:

https://docs.google.com/spreadsheet/ccc?authkey=CPmaiOsH&key=0AsAy8x4Mq0aSdEsyeFFUTERtY2JHZ05uRU5PV21KZkE&hl=en&authkey=CPmaiOsH#gid=1

In my ignorance I don't know if the premium would be "the same" if you factor in Canadian Dollar to US Dollar exchange rate, or the premiums are different . . . does that even make sense?  :)

Edited by admin on 11/08/2014 - 06:15

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sumo
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MNT is unallocated, so you

MNT is unallocated, so you must ask yourself do you trust the RCM to behave. You can convert MNT to physical.

I buy MNT via my IB (Interactive Brokers) account, using USD (cash) as collateral. Then I sell USD.CAD (forex conversion) to pay for the trade. Easy to do. MNT trades with a tight spread, usually $0.01.

This is short-term parking of my money while I open physical bullion accounts elsewhere, to spread counterparty risk. Having read about the customer ratfucking by MF Global, I don't want to keep all my physical with any one bullion custodian.

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