The fund that holds the 9% in SGR is the European version of the North American DPM fund. I bought into The North American version of Dynamic PMF starting in December on through til March. I noticed at first after researching the holdings that they held a TSX venture company called San Gold. I was skeptical at first so started looking into her. Traded it at first then fell in love with the story. When I first bought into DPMF SGR was way down the list. Agnico Eagle was number one. I am sure the move up the list has a lot to do with the shares increaseing in value, yet I did notice that Yamana was sold out of the fund and the SGR position has steadily gone up. Needless to say I sold my Yamana as well and just like Ned bought more SGR. The North American versions top two holdings are Osika and San Gold. Pretty good endorsement as both are touted as takeover candidates. Two months ago SGR was fifth on the list behind Osiko, AEM, Kinross and RedBack Mining. My first 1,000 units of DPMF I paid $3.19 and bought more all the way up to $4.00. Thanks to Ned's savvy investing and SGR the units are now almost $6.00 . I think Ned is betting heavily on a homerun here as if he is right he will be the King of the Mutual Fund Managers. IMHO Reputation is everything in that business so I am betting on that. Useing the horse race analogy SGR has made an impressive move on the backstretch passing much of the field in Ned's race. Let's hope that the turn for home and the run down the stretch she doesn't falter.

Rookie