Sprott Physical Silver Trust announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported unrealized losses on silver bullion of $199,985,535 compared to unrealized gains on silver bullion of $100,177,597 a year ago. Net loss and comprehensive loss was $201,789,187 compared to net income and comprehensive income of $98,299,541 a year ago. Decrease in total equity per unit was $1.58 compared to increase in total equity per unit of $0.77 a year ago.

For the nine months, the company reported unrealized losses on silver bullion of $122,864,804 compared to $426,216,618 a year ago. Net loss and comprehensive loss was $128,016,641 compared to $431,468,425 a year ago. Decrease in total equity per unit was $1.01 compared to $3.39 a year ago. Net cash used in operating activities was $4,509,656 compared to $4,754,909 a year ago. Net assets per unit, at the end of September 30, 2014 was $6.59.