Silver Bullion Trust reported earnings results for the quarter ended March 31, 2013. For the quarter, the company reported total income negative of $4,118,867 compared to total income of $13,365,010 and net loss inclusive of the change in unrealized appreciation of holdings of $4,235,491 or $0.77 per unit compared net income inclusive of the change in unrealized appreciation of holdings of $13,245,060 or $2.42 per unit for the last year.