Peregrine Diamonds Ltd. PGDIF

RE:Last week of field program??

[justanormalguy]

Thanks for the history Ekim.  This fits in well with what I was pondering yesterday.

The board of directors has a fiduciary duty to act and work in the best interest of ALL shareholders, the big ones and the little ones, equally.

The board would have approved the timing of the rights announcement, the details of such, the timelines, the amounts, the exercise price, etc.  They would have worked with operations to determine how much was needed and when for future programs.

Let's see if they pass this test:

Scenario 1

The board did appropriate planning with operations on the timing of the release of any material news (whether good, bad, or neutral) and when caustics would be available. The board planned accordingly and will release something material sometimes after the rights issue and well in advance of the rights exercise date.  This reduces some uncertainty to ALL shareholders and rights holders.

Scenario 2

The board did not do appropriate planning and the timing of the next material news release will be after the expiration of the rights exercise date.  This increases the uncertainty to all shareholders and rights holders.

Which scenario will happen?