Sprott Physical Silver Trust announced unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the total change in unrealized losses on physical silver bullion amounted to $45.4 million compared to the change in unrealized gains of $62.1 million during the same period in 2014. Net loss and comprehensive loss for the period was $46,885,583 against net income and comprehensive income of $60,526,805 a year ago.

For the six months, the total change in unrealized gains on physical silver bullion amounted to $4.4 million compared to the change in unrealized gains of $77.1 million during the same period in 2014. Net loss and comprehensive loss for the period was $1,401,984 against net income and comprehensive income of $73,772,546 a year ago. Net cash used in operating activities was $2,629,641 against $2,627,839 a year ago. The Trust's net asset value per unit on June 30, 2015 was $6.07.