Peregrine Diamonds Ltd. PGDIF

RE:RE:Let the games begin

[Kidlapik]

Once again Explorer you tout $1-billion for a mine when every comparable diamond mine of the scale Chidliak warrants is nowhere near a billion. Iqaluit is the capital of Nunavut and has the most infrastructure of anywhere here. The Jericho mine in Western Nunavut cost roughly $400-million in todays dollars for a larger (tonnes processed) facility than would be necessary for Chidliak. At 1-million tonnes a year averaging 2carats/tonne blended CH-6/7 you get $400million a year, minus expenses of say a ridiculess $100/ton you turn a $300mil a year profit.

They are not aiming to make a 5-million carat a year mine here. I challenge you to give a market comparable or some kind of justification for your $1-billion mine cost target you keep spouting.