Peregrine Diamonds Ltd. PGDIF

RE:No reason to be worried about whether funding is coming

[ekim]

There is a bit of tip-toeing around the project.

Which comes first, the PEA or the Funding??

If funding was so easy...the question of 2 missed seasons has to be asked.

One has to assume that the PEA is what gives the weight of the project to move forward.

There was no work in Jan/Feb/Mar/Apr of 2016. No PEA in hand and not enough funding and no committment to know exactly what to do.

There is no work right now (july/august). The PEA is out and they have $5.7 million in working capital and they have taken this time to pause and analyze all permutations before proceeding.

The accomplishment of a phase 1 base case PEA for Chidliak based on all the challenges that Peregrine has been through is pretty amazing.

I know there is a huge initial cost to even start an exploration program onsite regardless of how big or small it is....so that initial decision is not taken lightly.

Total catch 22 here. If the market valuation of PGD was more reasonable...Kaiser reasonable...it would be a lot easier to inject significant exploration programmes on site.
Back in earlier this year at 9.5 cents (low of the year) @ $32 million market cap -- how is that size of a company expected to give a greenlight to a $10 to $15 million+ seasonal exploration programme?

A market cap closer to $150 million and diluting the shares by 10% gives a signfiicant exploration program.

The permutations beyond here are many...and I don't think anyone here can say for certain what will happen next in the PGD office or at Chidliak over the next 2 seasons in 2017.

PGD has been on a 2 year cycle for a few times now...that has to be snapped out and move into a 1 year cycle. Don't think PGD can do that alone without some outside funding (partnership, acquirer, jewellery deal, debentures by Robert himself, fed govt funding, infrastructure partnership, etc., etc.)

LONG...PGD

EKIM