Sprott Inc. – ‘SC 13G’ on 2/10/12 re: Sprott Physical Silver Trust

On:  Friday, 2/10/12, at 10:54am ET   ·   Accession #:  1512920-12-23   ·   File #:  5-85771

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Statement of Beneficial Ownership   —   Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G      Statement of Beneficial Ownership                      4±    17K 

Document Table of Contents

UNITED STATES                                                                   
SECURITIES AND EXCHANGE COMMISSION                                              
WASHINGTON, D.C. 20549                                                          

SCHEDULE 13G                                                                    

UNDER THE SECURITIES EXCHANGE ACT OF 1934                                       

Sprott Physical Silver Trust                                                    
(Name of Issuer)                                                                

Units                                                                           
(Title of Class of Securities)                                                  

85207K107                                                                       
(CUSIP Number)                                                                  

January 31, 2012                                                                
(Date of Event Which Requires Filing of this Statement)                         

Check the appropriate box to designate the rule pursuant to which this Schedule 
is filed:                                                                       

[   ]Rule 13d-1(b)                                                              
[ X ]Rule 13d-1(c)                                                              
[   ]Rule 13d-1(d)                                                              

The information required in the remainder of this cover page shall not be       
deemed to be filed for the purpose of Section 18 of the Securities Exchange     
Act of 1934 or otherwise subject to the liabilities of that section of the      
Act but shall be subject to all other provisions of the Act (however, see       
the Notes).                                                                     

CUSIP No. 85207K107                                                             

(1)     Names of reporting persons                                              
Sprott Inc.                                                     

(2)     Check the appropriate box if a member of a group (a)  [ ]               
                                          (b)  [x]
(3)     SEC use only                                                            

(4)     Citizenship or place of organization                                    
Ontario, Canada                                                 

Number of       (5)     Sole voting power  6,158,968                            
shares                                                                          
beneficially    (6)     Shared voting power  0                                  
owned by                                                                        
each            (7)     Sole dispositive power  6,158,968                       
reporting                                                                       
person with:    (8)     Shared dispositive power  0                             

(9)     Aggregate amount beneficially owned by each reporting person            
6,158,968                                                       

(10)    Check if the aggregate amount in Row (9) excludes certain shares [ ]    

(11)    Percent of class represented by amount in Row (9)                       
7.3%                                                            

(12)    Type of reporting person                                                
CO                                                              

Item 1  (a).    Name of issuer:                                                 
Sprott Physical Silver Trust                    

Item 1  (b).    Address of issuer principal executive offices:                  
              Suite 2700, South Tower, Royal Bank Plaza, Toronto, ON M5J 2J1

Item 2  (a).    Name of person filing:                                          
Sprott Inc.                                     

Item 2  (b).    Address of principal business office or, if none, residence:    
              Suite 2700, South Tower, Royal Bank Plaza, Toronto, ON M5J 2J1

Item 2  (c).    Citizenship:                                                    
Canada                                          

Item 2  (d).    Title of class of securities:                                   
Units                                           

Item 2  (e).    CUSIP No.:                                                      
85207K107                                       

Item 3. If this statement is filed pursuant to Rules 13d-1(b)                   
or 13d-2(b) or (c), check whether the person filing is a:       

(a)[ ]  Broker or dealer registered under Section 15 of the Act;

(b)[ ]  Bank as defined in Section 3(a)(6) of the Act;          

    (c)[ ]  Insurance company as defined in Section 3(a)(19) of the Act;

(d)[ ]  Investment company registered under Section 8 of the    
Investment Company Act of 1940;                 

        (e)[ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

     (f)[ ]  An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);                        

     (g)[ ]  A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);                        

(h)[ ]  A savings association as defined in Section 3(b) of the 
Federal Deposit Insurance Act;                  

(i)[ ]  A church plan that is excluded from the definition of an
           investment company under section 3(c)(14) of the Investment
Company Act of 1940;                            

       (j)[ ] A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);

(k)[ ]  Group, in accordance with Rule 13d-1(b)(1)(ii)(K).      

If filing as a non-U.S. institution in accordance with Rule     
       13d-1(b)(1)(ii)(J), please specify the type of institution: ___________

Item 4. Ownership.                                                              

(a)     Amount beneficially owned:                              
6,158,968                                       

(b)     Percent of class:                                       
7.3%                                            

(c)     Number of units as to which Sprott Inc. has:            

(i)     Sole power to vote or to direct the vote: 6,158,968     

(ii)    Shared power to vote or to direct the vote: 0           

        (iii)   Sole power to dispose or to direct the disposition of: 6,158,968

  (iv)    Shared power to dispose or to direct the disposition of: 0

Item 5. Ownership of 5 Percent or Less of a Class.                              
      If the statement is being filed to report the fact that as of the date
    hereof the reporting person has ceased to be the beneficial owner of
       more than 5 percent of the class of securities, check the following [ ]

Item 6. Ownership of More than 5 Percent on Behalf of Another Person.           
Not Applicable.                                                 

Item 7. Identification and Classification of the Subsidiary Which Acquired the  
     Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable.                                                 

Item 8. Identification and Classification of Members of the Group.              
Not Applicable.                                                 

Item 9. Notice of Dissolution of Group.                                         
Not Applicable.                                                 

Item 10.Certifications.                                                         

        By signing below I certify that, to the best of my knowledge and belief,
       the securities referred to above were not acquired and are not held for
        the purpose of or with the effect of changing or influencing the control
      of the issuer of the securities and were not acquired and are not held
     in connection with or as a participant in any transaction having that
purpose or effect.                                              

           SIGNATURE

  After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and  
correct.                                                                        

 February 10, 2012
  ------------------
    Date

SPROTT INC.     

         By: /s/ Kirstin McTaggart
             -----------------------
         Kirstin McTaggart
         Authorized Person

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘SC 13G’ Filing		Date		Other Filings
Filed on:		2/10/12		SC 13G,  SC 13G/A
		1/31/12		6-K,  SC 13G/A
				List all Filings