Peregrine Diamonds Ltd. PGDIF

RE: RE: Intraday high

[Durkastan]

" 'buy on rumour, sell on news"  this only applies if you don't anticipate more good news on the way

If I didn't anticipate good news this season, I wouldn't be here. :)

I was just trying to determine exactly how much good news the market is discounting already. If I was to outline my "realistic" hopes for this season, they would be:

- Discovery of many new kimberlites (check)
- One of those kimberlites being similar to CH-6
- A few of the rest of the kimberlites that are nice but don't have stand-alone economic potential (CH-1 style)
- The bulk sample for CH-6 and CH-7 both returning higher grades than last year's results suggested
- One kimberlite from any of the other properties showing good potential.

Right now, I pointed out my belief that the market is probably discounting the discovery of another CH-6. I believe that there's more upside than that to be had, of course. My point was simply that the more the SP rises before any of these discoveries actually happen, the higher the risk if there is a disappointment.

** eagerly awaiting news **