Peregrine Diamonds Ltd. PGDIF

Massive share issue?

[oiltar]

Sounds like Will is casting doubt on a financing.

"Unfortunately, the cash needed to pay for the drilling and the studying is also very much conceptual in nature. Peregrine says it is "in discussions with various parties" regarding financing the program, adding that it is "confident such financing will be obtained." Investors appear equally confident, although many retail shareholders are apprehensive that the financing obtained will be another rights offering at a hefty discount to the current stock price."

But lets say it goes threw (we don't want to see what happens if it don't but if it did not then BK) and the management cleans out the little treasury severence pay we still will need at least $10 million for exploration and G&A.

So lets sat PGD breaks with tradition and for once does the issue at the market price we get at least 50 million more shares.On the other hand if they follow regular issues and do it at 10 cents we get 100 million more shares taking the float to 450 million.

So any way I see it more tonnage of paper before more tonnage of ore.If not then PGD ends up in the grave yard of JR flame outs.I have had at least a dozen flame outs with near and some times 100% capital losses.

This situation is now very much at risk.But the only thing is RF and EF go down with us.Until we see the financing PGD is un-investible from a financial stand point.But from a gelogic stand point its the real deal.I VERY MUCH HOPE a major buys out PGD befor the till runs out or we issue a billion shares to keep this alive until then.

Its very clear JK bailed now..