Peregrine Diamonds Ltd. PGDIF

Positive - but nothing exciting either

[schocor]

This news was all positive, but all expected IMHO. I was not surprised by anything except MAYBE perhaps the tonnage assigned to that small pocket of ore found in proximity to CH6 (1-2M tonnes if memory serves). I am pleased to see them starting to speak about phase 1 development (Ch6 & CH7) this production speak not exploration speak which positive. I am also pleased to see then starting to hone their value proposition Simply put, there is no other Canadian development-stage diamond project that compares with Peregrines flagship project in terms of resource value or upside potential. This Phase One resource is based on only two of the 74 currently known kimberlites at Chidliak providing significant resource expansion possibilities which the Company intends to pursue in 2018. Of course we still need a deep pocketed partner with 1.2B to spend but positive results, a good value proposition and a competent Board of Directors are how you get there; I declare that PGD thus has all the pre-requisites to snag a good partner on good terms. When the R Friedland let one out of their stable, they usually do well. That being said..I am not sure how much interest there is in a diamond play at this point. We have discussed potential partners on this forum before but they way I see it right now it will be Rio, Debeers or some unknown third party. A tie up between Stronoway, PGD some of these other piddly Canadian producers seems illogical to me. Washington Corp/Dominion Diamonds is NOT in the running; I spoke to a senior guy there two weeks ago and they have their hands full with EKATI and the mess that was Dominion Diamonds. They realize they overpaid/were lied about what they were buying and they have fired the old CFO with more to come. No appetite to expand to a greenfield project like this I am afraid and no appetite to take DO18 and Do 27 off out hands. Meh