Peregrine Diamonds Ltd. PGDIF

RE:Dec 16 article

[griefman]

The next stage for Peregrine and Chidliak is to find a big partner who likes what they’ve done and wants to help advance the project. They might have to wait though. Diamond exploration has fallen out of favor in general and prices have been low for the past few years. This makes it difficult to justify the high costs of Arctic exploration and production. The company is now exploring in Botswana, a diamond hub known for low cost, high quality diamond production and with any luck they can leverage their experience and expertise to develop an attractive prospect for established area producers. Even so, it’s hard to say if shareholders will ever benefit. Like so many cash-strapped explorers, Peregrine has had to continuously dilute shareholder investment in order to raise money and keep moving forward.

Despite current economics, Chidliak is an interesting project with a lot of exploration potential. In the right climate it will move forward (Arctic pun intended).