Peregrine Diamonds Ltd. PGDIF

RE:RE:Great reads this am

[Kidlapik]

Griefman, I would like to answer your questions if you dont mind. I am a long time resident of Baffin Island and have travelled to every community on the Baffin island many many times. Currently I am sitting in the Igloolik Co-op hotel!

Right now the "population" on Baffin Island is closer to 15,000 but that only counts residents. As you can imagine such a small population lacks the technical expertise / education to properly carry out most of the day to day work that needs doing. Thus there is a very large transient / fly-in worker population.

Iqaluit is the capital of Nunavut and I cannot stress enough how developed it is in comparison to any other hamlet in the Territory. There are very savvy businessmen and much infrastructure in this town. I am not an expert in all-season roads and what they require. Generally up here everything is done through gravel and compacting with Iqaluit and a few other hamlets having paved roads. I would not think building the road would require purchasing of the loaders / compacting equipment as that is pretty standard stuff for virtually every territory in the North. As far as building the mine this would indeed require a lot of outside-of-Nunavut hires but once again that is very standard up here. Even basic residentual homes hire roughly 70% of their work force from the South in order to find qualified workers.

As far as your question about maintaining owernship % it is just my preferred investment style in this company. As you say there is lots of time. I have participated and over-subscribed at each rights offerring and have bought at times when I felt it was well under valued. I have occassionally sold some shares at points that it just seemed logically the price had to come down, after the 0.21 rights were offered shares were still around 0.25-0.30 for awhile.