16 unchanged sentences
Gold MiniShares SM
−Removed: Trust (“GLDM”) is operational as of June 30, 2021.
+Added: Trust (“GLDM”) is operational as of December 31, 2021.
GLDM commenced operations on June 26, 2018.
9 unchanged sentences
Share price & NAV v.
−Removed: gold price - June 26, 2018 to June 30, 2021
+Added: gold price - June 26, 2018 to December 31, 2021
Critical Accounting Policy
12 unchanged sentences
A complete bar count is conducted once per year and coincides with the Trust’s financial year end at September 30 th
−Removed: On September 4, 2020, Inspectorate concluded the annual full count of the Trust’s gold bullion held by the Custodian.
+Added: On October 4, 2021, Inspectorate concluded the annual full count of the Trust’s gold bullion held by the Custodian.
On October 4, 2021, Inspectorate concluded reconciliation procedures from September 17, 2021 through September 30, 2021.
3 unchanged sentences
Results of Operations
−Removed: In the three months ended June 30, 2021, 12,400,000 Shares (124 Creation Units) were created in exchange for 123,363.4 ounces of gold, 0 Shares (0 Creation Units) were redeemed in exchange for 0 ounces of gold and 1,042
−Removed: ounces of gold were sold to pay Sponsor fees.
+Added: In the three months ended December 31, 2021, 3,800,000 Shares (38 Creation Units) were created in exchange for 37,765.4 ounces of gold, 16,200,000 Shares (162 Creation Units) were redeemed in exchange for 161,039.2 ounces of gold and 1,107.9 ounces of gold were sold to pay Sponsor fees.
For accounting purposes, GLDM reflects creations and redemptions on the date of receipt of a notification of a creation but does not issue Shares until the requisite amount of gold is received.
1 unchanged sentence
These creations were completed in the normal course of business.
−Removed: At June 30, 2021, the amount of gold owned by GLDM and held by the Custodian in its vault was 2,454,115.9 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $4,326,974,446 based on the LBMA Gold Price PM on June 30, 2021 (cost — $4,119,133,769).
+Added: At December 31, 2021, the amount of gold owned by GLDM and held by the Custodian in its vault was 2,393,251.2 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $4,355,956,547 based on the LBMA Gold Price AM on December 31, 2021 (cost — $4,032,594,479).
Subcustodians did not hold any gold in their vaults on behalf of GLDM.
2 unchanged sentences
Cash Resources and Liquidity
−Removed: At June 30, 2021, GLDM did not have any cash balances.
+Added: At December 31, 2021, GLDM did not have any cash balances.
When selling gold to pay expenses, GLDM endeavors to sell the exact amount of gold needed to pay expenses in order to minimize GLDM’s holdings of assets other than gold or any gold receivable.
4 unchanged sentences
The following chart shows movements in the price of gold based on the LBMA Gold Price PM in U.S.
−Removed: dollars per ounce over the period from June 26, 2018 (the first date the Shares began trading on the NYSE Arca) to June 30, 2021.
−Removed: Daily Gold Price - June 26, 2018 to June 30, 2021
+Added: dollars per ounce over the period from June 26, 2018 (the first date the Shares began trading on the NYSE Arca) to December 31, 2021.
+Added: Daily Gold Price - June 26, 2018 to December 31, 2021
LBMA Gold Price PM USD
The average, high, low and end-of-period
−Removed: gold prices for the three and twelve-month periods over the prior three years and for the period from June 26, 2018 (the first date the Shares began trading on the NYSE Arca) through June 30, 2021, based on the LBMA Gold Price PM, were:
−Removed: Three months to September 30, 2018
−Removed: Three months to December 31, 2018
+Added: gold prices for the three and twelve-month periods over the prior three years and for the period from June 26, 2018 (the first date the Shares began trading on the NYSE Arca) through December 31, 2021, based on the LBMA Gold Price PM, were:
Three months to March 31, 2019
8 unchanged sentences
Three months to June 30, 2021
−Removed: Twelve months ended June 30, 2019
−Removed: Twelve months ended June 30, 2020
−Removed: Twelve months ended June 30, 2021
−Removed: June 26, 2018 to June 30, 2021
+Added: Three months to September 30, 2021
+Added: Three months to December 31, 2021
+Added: Twelve months ended December 31, 2019
+Added: Twelve months ended December 31, 2020
+Added: Twelve months ended December 31, 2021
+Added: June 26, 2018 to December 31, 2021
The end of period gold price is the LBMA Gold Price PM on the last business day of the period.
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.