RE: Buying more PNP$11 at this moment is in fact expensive. Remember that the NAV (nett asset value) end march was only $11.41. At that time stocks were a lot higher than they are now. NAV at the moment will be at $9 or below. Sometimes I don't understand investors. Most resource stocks in a bull market are overvalued anyway, especially stocks that are pushed by a newsletter writer (JD). So an investment company like Pinetree has shares of those overvalued companies and people are willing to pay even more, and a lot more in this case, than the NAV....crazy. Take a look at a simular company like Endeavour Mining Capital (EDV.TO, they also do Uranium mr. Dines!) and you'll see that you pay even less than NAV. Looks to me a better investment and you don't have to wait for any IWB to buy (or sell).