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NYBob

03/06/13 10:43 AM

#48 RE: mlaps #47

Pinetree Capital Ltd. Announces Unaudited January 31, 2013 Net Asset Value Per Share of $1.47

http://tmx.quotemedia.com/article.php?newsid=58057127&qm_symbol=PNP

http://tmx.quotemedia.com/quote.php?qm_symbol=CAL

http://tmx.quotemedia.com/article.php?newsid=57503091&qm_symbol=CAL

Management performance often repeat itself -
1 year chart -



Management performance often repeat itself -
2 year chart -



Management performance often repeat itself -
3 year chart -



A comparison target -
nice to ride with long term winner - :-)

PNP is Caledonia's major shareholder -
God Bless