Because of PNP's long holdings of NOT plus other JBL peripheral plays, plus a lot of unsung heroes in Uranium and other resources, it remains a valid and safe way to play the potential of a big score for NOT and related JBL's combined with very limited overall downside. While NOT already gives you most of the peripherals through the JV's, PNP flattens the risk/reward profile with an excellent JBL component. For the pure JBL play, nothing really compares to NOT alone.