Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:RE:RE:RE:RE:RE:DO27

[robybob]

Kodiboy, IMO, management has a fiduciary duty to maximize shareholder value.  DO-27 is dead money, I think the carat$ was somewhere around 40 bucks when they valued it a number of years back.  Even if diamond values have doubled, and they haven't,  worth 80 bucks a carat, no one is going to mine this other than Dominion IMO. (Someone with infrastructure that it pays to keep going) Its only value to PGD is to help finance the property they own which the board believes will pay shareholders a return.  They would be lucky to get 20 million IMO.  That 20 million would advance Chidlaik.  As for financing being a done deal for Chidlaik, nothing is certain until we have more info, by the fall.  Risk here is dilution could bury this stock, as paper has done to so many juniors. 

Friedland put his money down at 40 cents, so far its holding, but without something substantial in the next 4-6 weeks...  that dilution will come even cheaper than 40 IMO. Big guys can afford to wait until PGD chokes itself on paper.  Time, unfortunately, for Peregrine, is not a luxury.  Selling DO-27, buys time.  Dust her off, put some lipstick on it, and collect a dowry, IF we can.