Peregrine Diamonds Ltd. PGDIF

RE:Robert Friedland Share Value

[ekim]

Newstar purchased 16.4 million shares at 50 pennies.
Then had a bunch at 21 cent rights offering that came with warrants.
Then exercised its own warrants and also another 9 million warrants from Dundee's hands.
Then fully participated in the 10 penny offerings x 2 .

Owns about 25% of the company. Don't think he cares about his cost basis at this point...but where that 25% ownership will land in the future. 

Not doing the math....but I suspect his average cost is somewhere around 18 to 20 cents.

LONG...PGD

EKIM