I think people would be more inclined to PNP if their trust in management had not been  absolutely shattered. It's now not a question of whether or not better times will come to the juniors and explorers held by this fund but rather how will investors and shareholders be rewarded.

A world of good might happen but if it is not allowed to trickle into the pockets of shareholders, except through quick share price swings from which few benefit, then what is the use? When I found this in 09 I was quite excited. I've traded in and out and increased substantially the number of shares (although with little capital gains) I aim to hold when my trading money is fully in. But realistically trading the swings is all there is to this. This historically traded rom 70-80% of NAV. Since the big 30 million bonus to Inwentash it's been down to 45-55% range. That's the management discount. Nobody uses this for anything more than gambling.