Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:It looks like

[schocor]

Kitipack "new pipes discovered" was not the right phrasing - what I should have said is "new pipes to be sampled". Very few of the existing pipes have been through the detailed analysis that CH1, Ch6 and Ch7 have gone through. Yes they have 60 pipes. But (rule of thumb) only 1 in 75 is economic to mine. What this mine needs is YEARS of feed. CH7 is certainly good enough, but there is not enough kimberlite there to keep the mill full for 10+. years. Adding more ore will add more mine life and will amortize the mill/camp over a longer useful life thus improving NPV. I do not like the idea of a 1M tonne per year mine processing from 3 small pits (CH1, CH6, CH7). The mine sequencing would be difficult to keep the small mill full. Aim for 2M tonnes per year over a 10+ year mine life. Bigger pipes. That what we need to sample now. Needs a rock value of $125/usd per tonne. Then you will have the most valuable mine on the planet ensuring it will be built.