Precious Metals and Mining Trust T.MMP.UN

COMMENTS AND "NAV" OF MMP.UN

[bjbear]

I HAVE OWNED AND TRADED MMP.UN ON OCCASION FOR A FEW YEARS A S WELL AS THE SISTER CLOSED END FUND 'PME" WHICH HOLDS ALMOST THE SAME JUNIOR GOLD STOCKS. KEVIN MCLEAN WHO RUNS THE FUND IS A GREAT STOCK PICKER SO I DO LIKE THE PORTFOLIO -SAVES BUYING INDIVIDUAL STOCKS WITH ALL THE HEADACHES OF RESEARCHING THEM. AS FOR THE DIVIDEND IT IS TAKEN OUT OF CASH ON HAND AS NONE OF HIS STOCKS PAY A DIVIDEND SO IT IS NOT A DIVIDEND IN THE TRUEST SENSE OF THE WORD. AT THE SAME TIME IT IS NICE TO GET A CHEQUE EVERY MONTH WHICH KIND OF DISCOURAGES TRADING. THIS IS ALL GOOD BUT NOW THAT JAMIE HAS GIVEN THE UNITS A GOOD BOOST THEY ARE NOW TRADING AT A SUBSTANTIAL PREMIUM TO "NAV" WHICH WAS $3.036 AS OF LAST NIGHT'S CLOSING. THE "NAV" UPDATE CAN BE SEEN ON THEIR WEBSITE EVERY FRIDAY MORNING.IT WILL CORRECT IN DUE TIME AND GET CLOSER TO "NAV" PARTICULARLY IF GOLD STOCKS CORRECT WHICH THEY DO FROM TIME TO TIME. AT TODAYS PRICE BETTER TO BE A SELLER THAN A BUYER. SAME APPLIES TO "PME" UNITS. INCIDENTALLY IF YOU LIKE GOLD AND SILVER BULLION ONE CAN BUY "CEF.A" WHICH ACTUALLY TRADES AT A LARGE DISCOUNT TO "NAV". OF COURSE IT IS A MUCH MORE CONSERVATIVE APPROACH TO PRECIOUS METALS INVESTMENT. THE CRAZY THING IS THESE UNITS USED TO TRADE A T A PREMIUM TO "NAV" A FEW YEARS AGO. GO FIGURE!